The morning after the night before
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The US manufacturing ISM data was a big miss and the market was immediately thrown into a risk off mood. See here. The European and North American bourses went negative and Asia followed suit. so all three ducks are in a row:
- Nikkei: -0.50%
- Hang Seng: -0.27%
- ASX: -1.20%
Risk sentiment is now in the balance as the market digests the potential risk from the US now joining other countries in seeing their manufacturing hit by the US-China trade disputes and tariffs. The risk is that this event cascades on further related concerns. However, the Asian markets were not in free fall at all, so let's see what the European open brings later in the session
