financializer news A weblog highlighting financial topics making news in the international media.

equipment issues: The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 62.33 points, or 4.57 percent, lower at 1,301.16, according to Xinhua China. Decliners were led by transportation equipment, marine transportation and equipment issues. The 225-issue Nikkei Stock Average ended down 919.84 points, or 5.36 percent, from Tuesday at 16,251.54. The day turnover was about 3,924.2 billion yen around 38.75 billion U.S. dollars . (news.financializer.com). As reported in the news.

european union: As I wrote last month, financial markets had for the most part priced a victory by Hillary Clinton just as they had priced a vote to remain in the European Union by British voters in the Brexit referendum of June 23, according to Australian Broadcasting Corporation. They continued to price that outcome right up to the opening of the polls, notwithstanding the narrowing in Hillary Clinton lead in opinion polls following the FBI intervention in the campaign on October 28. Reuters Toru Hanai Related Story Asian markets tank as Trump wins US election Related Story US election stakes are high, not just for the US but the world Related Story A Trump presidency could bring a range of economic disasters Map United States Donald Trump has emerged as the winner in the US presidential election, but even before the result was clear the prospect came as a profound shock to financial markets. External Link S&P/ASX 200 for November 9, 2016 As is often the case when the assumptions underpinning the financial markets pricing of uncertain events turns out to be wrong, the reaction has been both swift, and sharp all the more so when there is a lot at stake. To be sure, the British economy hasnt fallen into recession since the Brexit referendum, as some said it would. Some will of course say that financial markets over-reacted to the Brexit vote and that the initial market reaction to the US election result should be seen in the same light. (news.financializer.com). As reported in the news.

futures trading: After Australia benchmark S&P/ASX200 closed at a four-month low, the rout continued across Asia with Japan Nikkei index down 5.4 per cent and Hong Kong dropping three per cent, according to Nine News Australia. In the US, futures trading showed the Dow Jones index was also set to open more than three per cent lower for the US Wednesday trading session. Australia market was first to feel the brunt of investor fear for what the controversial Republican ascendancy to the White House will mean for global trade and politics, given his staunch opposition to free trade deals and strong criticism of China, the world second-largest economy. More than 35 billion was wiped from the value of Australian shares and the Aussie dollar also took a hit against its US counterpart, even as the greenback fell against the euro and the yen. Bonds and gold gained as investors flocked to safe havens. The Aussie dollar hit a six-month high in morning trade as Hillary Clinton looked set to win but the currency closed sharply lower at 76.19 US cents, down from 77.04 US cents on Tuesday afternoon, in the wake of Mr Trump surge to victory. (news.financializer.com). As reported in the news.

government spending: I don t think a Trump victory will do much there, according to Bloomberg. Gross, who runs the Janus Global Unconstrained Bond Fund, said even if Trump is able to shovel a lot of government spending into infrastructure, he still keeping his 1-to-2 percent forecast for economic expansion. Growth is stunted, Gross said on Bloomberg TV on Wednesday. The manager said structural factors -- including demographics, debt deleveraging and technology displacing jobs -- make greater growth hard to achieve. function global function ad Code dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; It is not necessarily a slam dunk despite the fact that Republicans have all three Houses, Gross told Bloomberg Erik Schatzker. Black Rock also said that Trump planned income tax cuts could initially increase consumer spending. Watch Gross interview on Bloomberg Television here Black Rock Inc. took the opposite position, saying on Wednesday that Trump plan to increase infrastructure spending may boost growth. (news.financializer.com). As reported in the news.

infrastructure spending: Investors hope his plans for infrastructure spending, tax cuts and lighter regulation will benefit the economy, according to The Toronto Star. Banks, drugmakers and industrial companies rose the most, while safe-haven assets like utilities slumped. By Linda Nguyen The Canadian Press Wed., Nov. 9, 2016 Stocks have closed higher on Wall Street after Donald Trump upset victory over Hillary Clinton. Bond prices dropped sharply, sending yields higher. The Dow Jones industrial average climbed 256.95 points to 18,589.69, just shy of an all-time closing record, while the broader S&P 500 gained 23.70 points at 2,163.26. The yield on the 10-year Treasury note went above 2 per cent for the first time since January. (news.financializer.com). As reported in the news.

donald trump: It is time for us to come together as one united people, he said, according to Deutsche Welle. To those who didnt vote for him, he said he was reaching out for guidance and help to lead the country. Donald Trump addressed his supporters shortly thereafter, vowing to be president to all Americans. Ours was not a campaign but a movement, comprised of people from all backgrounds and religions. No dream is too big, no challenge is too great, he insisted, saying America would no longer settle for anything less than the best. Working together we will work on the urgent task of rebuilding America, Trump told his supporters. (news.financializer.com). As reported in the news.

donald trump: Photo AFP Analysts cautioned that Trump win might be a precursor for turbulence in China-US economic and trade relations and create some headwinds for the Chinese economy, given his tough stance on trade with China on the campaign trail, according to Global Times China. Others argued that the overall direction for one of the largest and most consequential bilateral trade relationships will remain unchanged, and a Trump presidency might not be as negative as many have suggested, noting that the rhetoric might help ease the pressure on yuan depreciation and capital outflows and help with ongoing efforts to upgrade China industrial sectors. Stock markets around the world plunged in morning trading as incoming results from the US presidential election suggested Donald Trump was leading markets favourite Hillary Clinton in the White House race. As votes were being counted in the US on Wednesday, Chinese stocks went through ups and downs during the day, seeing the largest drop of 1.6 percent at one point. The Shanghai Composite Index dropped 0.62 percent, while the smaller Shenzhen Composite Index was down 0.61 percent. But the market later regained ground and closed only slightly lower than the previous day. (news.financializer.com). As reported in the news.

election results: Yes, the immediate aftermath of the election is greater market volatility, but that was obvious hours before the election results were clear, as futures started moving because the stock market power brokers had to adjust for previously pricing in a different election result, according to Market Watch. Then, as Americans started contemplating the lasting effects of the vote, came the texts, posts, Tweets and comments. Whether you celebrate that result or dread it, don t react by making significant changes to your investment portfolio. The people who joked that they would leave the country if the election turned out as it had were not hiring movers but were considering packing up their investment portfolios, worried about the future of their retirement savings. In truth, it didn t. But if President-elect Trump was right when he said the election would be Brexit plus, plus, plus a reference to Great Britain surprising vote last summer to leave the European Union then that vote also needs to be considered in terms of how it affected nervous investors. (news.financializer.com). As reported in the news.

european union: A turbulent US presidential election and Britain vote to leave the European Union have challenged that belief, according to Global Times China. Greater political volatility will lead to bigger swings in once-safe assets. Money managers used to assume that rich economies were more stable than poorer ones. Until recently the consensus was that while emerging markets tended to grow more quickly, developed countries were more predictable. So while ballots attracted a lot of attention, their results were relatively unimportant for financial markets. Solid institutions provided continuity. (news.financializer.com). As reported in the news.

gains losses: The 225-issue Nikkei stock average ended down 919.84 points from Tuesday at 16,251.54, its biggest one-day drop since June 24 when Britain voted to leave the European Union, according to The Japan Times. The broader Topix index of all first section issues on the Tokyo Stock Exchange finished 62.33 points, or 4.57 percent, lower at 1,301.16. Panicked investors rushed to unwind bets they had piled on amid pre-vote predictions Democratic candidate Hillary Clinton would win the presidency. Every industry category on the main section lost ground, led by transportation equipment, marine transportation and equipment issues. But stocks gradually lost steam and fluctuated between gains and losses before turning sharply lower as results showing Trump taking key battleground states rolled in. Tokyo stocks were initially on a firm note on growing speculation of a win for Clinton. (news.financializer.com). As reported in the news.

merck co: The SPDR S&P Biotech exchange-traded fund rose the most since 2008, while Pfizer Inc. and Merck & Co. jumped at least 6 percent, according to Bloomberg. JPMorgan Chase & Co. rose 4.6 percent to a record, and Goldman Sachs Group Inc. had its best one-day gain in 4 1/2 years. Health-care shares and lenders surged as investors unwound bets that a win by Hillary Clinton would bring stronger regulatory scrutiny. The S&P 500 Index rose 1.1 percent to 2,163.26 at 4 p.m. in New York, extending its advance after rising above its average prices during the past 50 and 100 days. The Nasdaq Composite Index added 1.1 percent, and the Russell 2000 Index increased 3.1 percent, its best since January. The Dow climbed 256.95 points, or 1.4 percent, to 18,589.69, a two-month high. (news.financializer.com). As reported in the news.

percent: The All Ordinaries lost 103.9 points, or 1.94 percent, to 5238.5 points, according to Nine News Australia. It was always said that if Donald Trump got in, a few things would happen. The benchmark S&P/ASX 200 index fell 101.2 points, or 1.92 percent, to 5156.6 points. Number one, that people would scurry for the hills, theyd go to gold which they have today and they would also head to government bonds, 9NEWS Finance Editor Ross Greenwood said during live election coverage. Asia kicked off the so-called Trump slump with Tokyo diving on concerns over the untested policies of the billionaire businessman and reality TV star, who has scored a surprise victory over Democrat market favourite Hillary Clinton. Trump win triggered chronic uncertainty across the world and sent investors fleeing for safe-haven assets. (news.financializer.com). As reported in the news.

percentage points: For 2017, the EU executive arm forecasts a growth of 1.5 percent in the eurozone and 1.6 percent in the EU, both 0.3 percentage points lower than previous predictions, according to Xinhua China. The European Commission also predicted a growth of 1.7 percent in the eurozone and 1.8 percent in the EU in 2018. The report indicated that real gross domestic product GDP in 2016 was now expected to rise 1.7 percent in the eurozone, 0.1 percentage point higher than the previous spring report, while GDP growth in the EU remained the same at 1.8 percent. The report attributed Europe modest growth to recent labor market gains and rising private consumption, saying that expectations were for employment to continue growing and wages to pick up slightly. In the coming years, the European economy will no longer be able to rely on the exceptional support from external factors like falling oil prices and currency depreciation, the report added. However, the report also noted there was a risk that the economy weak performance in recent years could hold back growth, and persistent slack pointed to the possibility of faster growth without undue inflationary pressures. (news.financializer.com). As reported in the news.

points: The rout in Asia looked likely to continue in Europe, but despite large initial declines, the slide was less than feared, according to The Guardian. The FTSE 100 index slumped 147 points as London markets opened a fall that was projected to be considerably bigger at more than 230 points until Trump took to the stage in New York . Trump remarks more conciliatory than his campaigning talk helped take the sting out of some of the most violent moves by the time London markets opened. As the scale of Trump success became clear, Asian stocks fell sharply, the dollar weakened and gold prices rallied as investors raced for cover amid anxiety about his economic policies. It because he sounded more presidential, there was no mention of lock her up or build a wall said Jeremy Cook, chief economist at money brokers World First. His comments also helped pull back projections for the scale of the fall in the Dow Jones industrial average which at one point looked set to plunge more than 800 points. It was all, dare I say it, presidential. (news.financializer.com). As reported in the news.

city: The blasts, which occurred at a warehouse of Ruihai Logistics Co, according to Xinhua China. Ltd. On Wednesday, in the city where the tragedy occurred, 49 suspects stood trial and were given prison terms ranging from one year to life for their roles in the accident. Ruihai Logistics in Tianjin container port, destroyed 304 buildings, 12,428 cars, and 7,533 containers, incurring economic losses of 6.87 billion yuan 1.01 billion U.S. dollars . But how did an accident of this magnitude happen at one of China busiest ports The trial gave us some answers. The company was found to have ignored industrial safety rules and violated municipal district planning by illegally setting up a hazardous materials storage yard. BOSS BYPASSING RULES According to the court ruling, Ruihai Logistics bears the main responsibility. (news.financializer.com). As reported in the news.

half years: The president made the remarks when receiving a delegation from the Association of Banks in Lebanon, according to Global Times China. The priority will be development projects in which national capital can take part, Aoun said, adding that security and political stability must be accompanied with economic stability. Aoun was referring to the period that followed his election as president after around two and a half years of presidential and political vacuum. Aoun was elected last week as the 13th President of Lebanon and has asked former Premier Saad Hariri to form the cabinet after the latter received the nomination of 112 members of the parliament. (news.financializer.com). As reported in the news.

house lawmakers: Referring to Nazarbayev planned visit on Wednesday to Hiroshima Peace Memorial Park, Kishida said it will be a chance to show the two countries close cooperation in nuclear disarmament and nonproliferation efforts, according to The Japan Times. In a speech before Upper House lawmakers at the Diet the same day, Nazarbayev called on Japan, the only country to have been attacked with nuclear bombs, to work together for eliminating such weapons from the world. Their agreement, made in a meeting in Tokyo, comes as Kazakhstan is set to serve as a nonpermanent Security Council member starting in 2017. Kazakhstan and Japan have suffered from the destructive power of weapons of mass destruction, Nazarbayev said. Nazarbayev also used the opportunity to push economic cooperation between Japan and his country, saying the two countries can complement each other. Given that Kazakhstan has struggled with radiation damage caused by Soviet-era nuclear tests at the Semipalatinsk nuclear test site, he has been working actively for global nuclear disarmament. (news.financializer.com). As reported in the news.

market convulsions: Earlier on Asian markets, Initial confidence that market favorite Hillary Clinton would win the race clearly was wiped out fast as results showed Donald Trump could be heading for victory in some key states, according to Deutsche Welle. The Tokyo Stock Exchange ended the day 5.36 percent down, with the benchmark Nikkei 225 ending at 16,251.54. It, however, later recouped its losses and turned into positive territory. Tokyo said the government and the nation central bank would hold crisis talks later on Wednesday on the market convulsions sparked by the US election results. Put your seat belts on, because this is going to be a bumpy ride, Chad Morganlander at Stifel, Nicolaus & Co. told Bloomberg. Meanwhile, Hong Kong fell 2.2 percent and Sydney gave up almost 2 percent on Wednesday, tracking losses across other Asian markets. (news.financializer.com). As reported in the news.

market reaction: Will he be the demagogue from the campaign trail, who threatened to lock up his political opponents, punish the media, build border walls and start a global trade war Or is he capable of becoming a statesmanlike figure who leads in a more measured manner A more conciliatory tone by Trump in his acceptance speech helped soothe a violent market reaction, with U.S. stocks, including the S&P 500 index SPX, 0.20% and the Dow Jones Industrial Average DJIA, 1.17%rising, according to Market Watch. Stock index futures suffered a plunge Tuesday night and early Wednesday as it became clear an upset was in the works. This is very much a step into the unknown because we simply can t know what type of president Trump will be, wrote Paul Ashworth, chief U.S. economist at Capital Economics, in a note. See How to profit from Donald Trump victory The Republican nominee victory comes just a little more than four months after British voters opted to exit from the European Union, marking another stunning electoral upset built on a campaign that focused on opposition to immigration, trade deals and globalization in general. The U.S. yield curve, meanwhile, steepened sharply. Read Populist policies would hurt stocks and bonds alike It sparked a global equity selloff, with U.S. stocks, including the S&P 500 index SPX, 0.20% and the Dow Jones Industrial Average DJIA, 1.17%on track for a lower start. (news.financializer.com). As reported in the news.

uncle sam: It was no coincidence that Le Pen was one of the first political figures to congratulate Trump on his win, according to The Japan Times. Congratulations to the new president of the United States Donald Trump and to the free American people, she tweeted over an hour before the election was called for the Republican. In France, few now will dare write off the prospects of the far-right candidate Marine Le Pen in next year presidential election even if the country two-round electoral system makes it harder to pull off an upset. The vice president of Le Pen National Front FN Louis Aliot, hailed Uncle Sam giving the finger to an arrogant elite and noted that the result coincided with the anniversary of the fall of the Berlin Wall. Bravo America! Le Pen father, FN founder Jean-Marie Le Pen, cheered. Today, the United States, tomorrow France. (news.financializer.com). As reported in the news.

shares: Freddie Mac climbed 15 percent to 1.78, according to Bloomberg. Shares of some classes of Fannie Mae and Freddie Mac preferred shares were up more than 8 percent. Fannie Mae shares rose 13 percent to 1.87 at 10 33 a.m. The spikes were in sharp contrast to the S&P 500, which was flat. What less clear is what those changes will be, as Trump close association with some Fannie Mae and Freddie Mac shareholders could be put up against Congressional Republicans still dead-set on eliminating the companies. function global function ad Code dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; Fannie Mae and Freddie Mac don t make mortgages. The morning after Trump victory over Democrat Hillary Clinton, some analysts said the Republican election could open the door to changes to longstanding policies surrounding the companies, which back just under half of the mortgage market. (news.financializer.com). As reported in the news.

u.s .,: I experienced it during the many years I lived and worked in the U.S., first as a student at the University of Nebraska, in one of the most Republican states in the nation, and later as a journalist in Kansas City, smack in the Republican heartland, and later still in Washington, according to The Toronto Star. Evan Vucci / THE ASSOCIATED PRESS By Bob Hepburn Politics Wed., Nov. 9, 2016 I fear for America in the wake of Donald Trump shocking victory over Hillary Clinton to become the 45th U.S. president.I fear for America because Trump election, which most polls and pundits, including myself, failed to predict, has sharply divided America and signals a return to a sad, bigotry-filled time in U.S. history when it was seen by many as okay to get away with denigrating women, blacks, latinos, muslims and immigrants seeking political refuge. It has existed for decades. It also signals a return to a mean-spirited era where tens of millions of Americans will have no health insurance with the repeal of Obamacare, where a woman right to abortion is challenged, where the environment is at risk again and where police are given free rein to get tough on crime even though crime rates are falling. These fears are fuelled by the understanding that Trump has unleashed fully all the anger and frustration among laid-off Rust Belt factory workers, Midwest farmers, poorer, less educated and less urban Americans toward the so-called elites they feel are running the country and ruining their lives. And I fear the world is now a more dangerous place, with a crude and rude man who is totally ill-suited to be president having the power to tear up international agreements on trade and security, to order U.S. troops to attack perceived enemies and to sit in a war room with his finger on the nuclear trigger. (news.financializer.com). As reported in the news.

uber investor: But support was revitalized by influential Uber investor and Hyperloop co-founder Shervin Pishevar, in a series of tweets announcing his plans to fund a legitimate campaign for California to become its own nation posted even before the full results were in, according to The Guardian. Shervin shervin 1/ If Trump wins I am announcing and funding a legitimate campaign for California to become its own nation. What now for progressives after Hillary Clinton loss Read more The broader west coast is a stronghold for the Democrats, and significantly more politically progressive and racially diverse than large swathes of central US. California is also the biggest economy in the US and the sixth largest in the world with a gross state product of 2.496tn for 2015, according to the IMF. The campaign for independence variously dubbed Calexit, Califrexit and Caleavefornia has been regarded as a fringe movement. November 9, 2016 A few hours later, Hillary Clinton conceded the election to Trump, and Pishevar told CNBC that he was serious about Calexit. Shervin shervin If you support an independent New California please RT. newcalifornia 9, 2016 We can re-enter the union after California becomes a nation. It the most patriotic thing I can do, he said, adding that the resulting nation would be called New California. (news.financializer.com). As reported in the news.

wednesday evening: ABC election analyst called the election for Mr Trump on Wednesday evening in the wake of the Republican scoring a series of surprising wins in battleground states including Florida and Ohio, and opening a path to the White House, according to Australian Broadcasting Corporation. In a highly volatile day, the ASX 200 had an upbeat start, rising as much as 0.9 per cent to 5,314. Paul Miller Related Story A stunning result Clinton struggling to stay in White House race Related Story US markets rise in anticipation of Clinton win over Trump Map Australia The Australian share market has lost about 34 billion in value leading up to ABC election analyst Antony Green calling the US election for Donald Trump. However, as vote counts started coming in, trade became more volatile, with swings deep into the red as Mr Trump clawed slightly ahead. External Link Pedro da Costa tweet of NY Times projection flipping to Trump Rightly or wrongly, markets are going to be concerned about a Trump victory, particularly given the potential consequences for world trade and its impact on many large companies in the US stock market, he said. CMC market strategist Ric Spooner said traders generally took the view that a Trump win was bad for shares. (news.financializer.com). As reported in the news.

world leaders: The remarkable triumph of the politically untested businessman was welcomed in some countries, such as Russia, while in others it was a major shock, according to The Toronto Star. When Trump takes office in January, world leaders will confront a man whose stated views represent a sharp break with U.S. foreign policy orthodoxy. By Peter Orsi And Gregory Katz Associated Press Wed., Nov. 9, 2016 LONDON The world faces a starkly different America led by a President Donald Trump. He has cozied up to Russian President Vladimir Putin, warned stunned NATO allies they will have to pay for their own protection, floated a ban on Muslims entering the U.S. and vowed to make the Mexican government finance a multibillion-dollar border wall. Russia Article Continued Below Russian President Vladimir Putin sent Trump a telegram Wednesday morning congratulating him on his victory. react-text 162 U.S. president-elect Donald Trump has cozied up to Russian President Vladimir Putin. These changes, and others, have the potential to radically remake U.S. policy a prospect that has given stability-loving partners a cascading case of the jitters. (news.financializer.com). As reported in the news.

beauty: And while the thrice-married former beauty contest owner-cum-Republican nominee has gotten the lion share of coverage, he not the only person women have become angry about, according to The Guardian. Forget fear and loathing. From Donald Trump referencing the size of his penis early in the primary, to his more recent exposure as a serial sexual predator, the election has been bookended by the worst aspects of masculinity. The US election inspires projectile vomiting Barbara Ehrenreich Read more This was the election that saw multiple accusations of assault and harassment made against Bill Cosby. Powerful men who had been in the public eye for decades were made to face the claims of their accusers. Likewise Roger Ailes. (news.financializer.com). As reported in the news.