28.05.2015 - Shanghai index fellby 6.5%

Major US stock indexes yesterday showed strong growth after the sharp fall in the previous trading session. Support for the market became positive news from Europe, where Greece's finance minister announced an intention to reach an agreement with creditors in the near future. Today will be published statistics on the number of initial unemployment claims in the US (12:30 GMT). Investors are cautious ahead of the release of a report on the labor market in the US tomorrow. We maintain our medium-term positive outlook for the markets of the country, but there is a low potential for growth in the near future.

The main European stock indexes showed an increase due to the hope of reaching a consensus between Greece and its creditors. Thus, it was reported that the country will reform the VAT, but the pension system will not be reduced. Data for UK GDP growth in the 1st quarter disappointed investors. Thus, the analysts forecast a revision of previous estimates of growth to 0.4%, against 0.3% previously, but according to the latest increase was only 0.3%. We look forward to tomorrow's statistics on US GDP growth and maintain the medium-term positive outlook for European markets due to the positive effect of the quantitative easing program and the expectation of success of the negotiations with the creditors of Greece.

Markets in the Asia-Pacific region showed strong growth of volatility. The reason for strong sales in which the Shanghai index lost 6.50%, was the news of the reduction of investments in major Chinese state-owned banks by large investment companies China Investment Corp. and China Central Huijin Investment. As a result, the demand for protective assets as the yen rose, but the Japanese market managed to finish the trading session in the green zone. Positive for Japanese investors was the statistics on the growth of retail sales by 5.0% in April. We expect growth in the markets of the region, but admit the possibility of a strong correction in the near future.

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