Market Talk – August 29, 2016

by Martin Armstrong
Armstrong Economics

We knew what to expect from the Nikkei cash this morning after we heard remarks late Friday and Saturday from all at Jackson Hole. On Saturday it was BOJ Governor Haruhiko Kuroda who said he would approve further monetary stimulus without hesitation! Having seen the Nikkei futures up 1% and the JPY weaken by 1% this morning’s cash openings gave domestic players the chance to catch-up. The Nikkei closed the session up 2.3% the best one day rise in a while with large exporters (Honda, Toyota etc.) showing strong gains in and around the 4% mark. Shanghai and Hang Seng saw small moves but in late US futures trading both have reversed earlier flows and are currently both up around 0.4%.

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