The Hang Seng dropped 1.2% today drug down by China Life Insurance who lost 3.4% today. The
mainland’s biggest insurer was hit by a larger than expected decline in July premium income. Turnover
was down 25% compared to yesterday’s trading. Tencent Holdings slipped .2% ahead of its first half
earnings, which are due out later this week. China Shenhua energy lost 1.6% as spot coal prices declined.
The FTSE 300 is down .6% today after hitting a 4 month closing high yesterday. The Kazakh Group
lost 3.2% after cutting back spending plans. British American Tobacco and Imperial Tobacco are also
suffering today losing 2.5 and 2.2% respectively as Australia’s high court dismissed a case relating to
packaging. Around Europe the DAX, CAC 40 and Madrid index are down 0.5, 0.4 and 0.38% respectively.
The MBA mortgage applications are down 4.5% and the 30 year fixed remains flat at 3.76%.
Nokia is up 5.6% premarket after an announcement of a window’s 8 smartphone in the near future.
Commodities all look similar with crude, natural gas, gold and silver all set to begin the day negative.
Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu