22.09.2015 - Falling shares of automakers has led to a deterioration of the market sentiment
US stocks yesterday showed growth due to correction after falling last week, but this increase was short-lived. Investors continue to monitor the rhetoric of the Fed officials, most of which expect the raise of interest rates before the end of the year. Investors were disappointed by the news on the reduction of the number of house sales on the secondary market to 5.31 million in August against the forecast of 5.50 million. Today, little impact on the course of trading will have news on the index of house prices in the US (13:00 GMT). We expect increased activity of investors on Thursday and on Friday when will be published data on the volume of orders for durable goods and the final report on the growth of US GDP in the second quarter. Our medium-term outlook remains positive.
European stocks fell today against the general deterioration of investor sentiment after the scandal with the German automaker Volkswagen, whose shares have lost 14 billion euros of market capitalization on Monday in connection with the fraud during testing of diesel vehicles in the United States. As a result, about 483 thousand vehicles in the United States may be recalled and a maximum fine is valued at $ 18 billion. Today, investors should pay attention to the consumer confidence index in the euro area (14:00 GMT). Despite the current decline, we expect the resumption of growth and maintain the medium-term positive outlook.
Markets in the Asia-Pacific region show a positive trend on expectations of positive news from the US, where Xi Jinping will stay on an official visit on September 22-25. We expect the results of this visit to have a positive impact on stock indexes in China. In Japan, the holidays will continue until Wednesday. Tomorrow we should pay attention to the important statistics on China's manufacturing PMI. We expect the resumption of growth of markets in the region, which will follow the stabilization of the situation in China.