US Investment Views 29 Oct

Asia

Asia markets were down today. NIKKEI -1.75%, HSI -0.49%, SHSE -0.46%, S&P/ASX 500 -0.50%.

In Hong Kong/China, AIA (1299.HK), the Asian unit of AIG (AIG.N), rose 17.12% in its debut today. China Construction Bank (939.HK) reported a better than-expected Q3 earnings, and China Unicom (762.HK) recorded a year-on-year drop of 72.6% in earnings. In the real estate front, the Centa-City Leading Index recorded another new high since 1997, as the market is widely convinced that the Policy Address did no address the problem of high home prices. In Japan, Nomura reported (8604.T) reported a drop in quarterly earning.

Europe

European markets are also down now. Greece bond yield increases, and the yield spread between Greece and German Bond is at the highest level ever seen this month. And the eurozone unemployment rate rose above 10%. As of now, dollar index (DXY) strengthen while Euro weakens against the dollar.

US equities preview

US futures are down as of now, and little change after the GDP numbers. The third quarter GDP number is out, with the real GDP grew 2% vs 2% of consensus, so pretty much in-line with economists expectation, but the numbers are hardly a strong ones for sure. Merck (MRK.N) reported better-than-expected result. Other interesting headlines include that GM will be listed in weeks as it emerges from its bankruptcy, and especially noteworthy that the foreclosure mess has halt sales.

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About Zarathustra

Zarathustra: Founder and Managing Editor of Also sprach Analyst. Once an analyst, now an investor and entrepreneur. Based in Hong Kong, but Londoner at heart.