Market Talk for May 31st, 2016

by Martin Armstrong
Armstrong Economics

All the Asian indices performed well today and mainly off the back of the rumors that China -Shares are to be included in the MSCI soon. These were only rumors but we did see a 3.3% rally on the beck of the story. Also, on the back of a better than expected Japan Industrial Output (+0.3% against an expected -1.5%) the Nikkei rallied almost 0.9% whilst the Hang Seng joined the party with a matching 0.9% rally. In late US trading the Nikkei futures have lost all of today’s cash gains and are currently trading 1% lower.

Despite a positive opening couple of hours for FTSE it was not long before it too joined other core markets moving lower. DAX, CAC, FTSE all closed around 0.6% lower while IBEX lost 0.9% on the day.

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