The Hang Seng closed at their highest in almost three months today after gaining 1.7% holding on to US
jobs data. HSBC rose 2.2% to their highest since July 17th. Li & Fung, who manage supply chains for US
retailers such as Wal-Mart and Target, jumped an additional 4.1% today. Li & Fung are currently under-
performing the Hang Seng are expected to post their earnings on Thursday, which could possible turn
that around.
The FTSEurofirst is inching its way up at .2% touching fresh four month highs to begin the week.
Eurozone banks are helping the lift up .8%. Signs of easing nerves came in last week as Spanish and
Italian Equity funds posted their largest weekly inflow since Q1 2011. All signs are not positive however
as currently 50% of European companies missed second quarter earnings expectations compared to just
29% of US companies.
Around Europe the German Dax is up .60%, the French CAC is up .57%, and the Spanish IBEX is up .17%,
the only index in the red right now is Stockholm down .14%.
GM reported it sold 199,503 vehicles in China during July, up 15% YoY. Its joint ventures with SAIC and
Liuzhou had strong demand in minivans despite a slowing economy.
Commodities are beginning the week mixed with Energy stocks down as metals showing gains; silver is
up 3% set to start the week.
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
