JEWISH KING JESUS IS COMING AT THE RAPTURE FOR US IN THE CLOUDS-DON'T MISS IT FOR THE WORLD.THE BIBLE TAKEN LITERALLY- WHEN THE PLAIN SENSE MAKES GOOD SENSE-SEEK NO OTHER SENSE-LEST YOU END UP IN NONSENSE.GET SAVED NOW- CALL ON JESUS TODAY.THE ONLY SAVIOR OF THE WHOLE EARTH - NO OTHER. 1 COR 15:23-JESUS THE FIRST FRUITS-CHRISTIANS RAPTURED TO JESUS-FIRST FRUITS OF THE SPIRIT-23 But every man in his own order: Christ the firstfruits; afterward they that are Christ’s at his coming.ROMANS 8:23 And not only they, but ourselves also, which have the firstfruits of the Spirit, even we ourselves groan within ourselves, waiting for the adoption, to wit, the redemption of our body.(THE PRE-TRIB RAPTURE)
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HOARDING OF GOLD AND SILVER
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.(IN 1 HR THE STOCK MARKETS WORLDWIDE WILL CRASH)
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed:(CONFISCATED) their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
REVELATION 13:16-18
16 And he(THE FALSE POPE WHO DEFECTED FROM THE CHRISTIAN FAITH) causeth all,(IN THE WORLD ) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(MICROCHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark,(MICROCHIP IMPLANT) or the name of the beast,(WORLD DICTATORS NAME INGRAVED ON YOUR SKIN OR TATTOOED ON YOU OR IN THE MICROCHIP IMPLANT) or the number of his name.(THE NUMBERS OF HIS NAME INGRAVED IN THE MICROCHIP IMLPLANT)-(ALL THESE WILL TELL THE WORLD DICTATOR THAT YOUR WITH HIM AND AGAINST KING JESUS-GOD)
18 Here is wisdom. Let him that hath understanding count the number of the beast:(WORLD LEADER) for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM (6006006)OR(60020202006)(SOME KIND OF NUMBER IMPLANTED IN THE MICROCHIP THAT TELLS THE WORLD DICTATOR AND THE NEW WORLD ORDER THAT YOU GIVE YOUR TOTAL ALLIGIENCE TO HIM AND NOT JESUS)(ITS AN ETERNAL DECISION YOU MAKE)(YOU CHOOSE YOUR OWN DESTINY)(YOU TAKE THE DICTATORS NAME OR NUMBER UNDER YOUR SKIN,YOUR DOOMED TO THE LAKE OF FIRE AND TORMENTS FOREVER,NEVER ENDING MEANT ONLY FOR SATAN AND HIS ANGELS,NOT HUMAN BEINGS).OR YOU REFUSE THE MICROCHIP IMPLANT AND GO ON THE SIDE OF KING JESUS AND RULE FOREVER WITH HIM ON EARTH.YOU CHOOSE,ITS YOUR DECISION.
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
THE CENTRAL BANKS ARE READY TO INTERVENE IN THIS WORLD STOCK MARKET CRASH.IF THEY HAVE TO.
GLOBAL MARKETS REMAIN DEPENDENT ON CENTRAL BANKS-BIS
https://www.bis.org/
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Stock futures fall sharply as Chinese stocks plunge-Reuters-AUG 24,15-YAHOONEWS
(Reuters) - U.S. stock index futures fell sharply on Monday as Chinese stocks plunged more than 8 percent after Beijing did not come through with further support in response to the market's rout last week.S&P 500 e-minis (ESc1) were down 46 points, or 2.33 percent, with 752,999 contracts traded by 6:24 a.m. ET.Nasdaq 100 e-minis (NQc1) were down 160.5 points, or 3.82 percent, on volume of 106,028 contracts, while Dow e-minis (1YMc1) were down 414 points, or 2.51 percent, with 95,546 contracts exchanged.(Reporting by Tanya Agrawal; Editing by Ted Kerr)
Mon, Aug 24, 2015, 6:45 AM EDT - U.S. Markets open in 2 hrs 45 mins-Great fall of China sinks world stocks, dollar tumbles-Reuters-AUG 24,15-YAHOONEWS
LONDON (Reuters) - Alarm bells rang across world markets on Monday as a 9 percent dive in Chinese shares and a sharp drop in the dollar and major commodities panicked investors.European stocks opened more than 3 percent in the red after their Asian counterparts slumped to 3-year lows as a three month-long rout in Chinese equities threatened to get out of hand.Safe-haven government bonds and the yen and the euro rallied as widespread fears of a China-led global economic slowdown and currency war kicked in."It is a China driven macro panic," said Didier Duret, chief investment officer at ABN Amro. "Volatility will persist until we see better data there or strong policy action through forceful monetary easing."With serious doubts now emerging about the likelihood of a U.S. interest rate rise this year, the dollar slid against other major currencies. It was last at 120.25 yen its lowest in three months.The Australian dollar fell to six-year lows and many emerging market currencies also plunged, whilst the frantic dash to safety pushed the euro to a 6-1/2-month high."Things are starting look like the Asian financial crisis in the late 1990s. Speculators are selling assets that seem the most vulnerable," said Takako Masai, head of research at Shinsei Bank in Tokyo.Commodity markets took a fresh battering. Brent and U.S. crude oil futures hit 6-1/2-year lows as concerns about a global supply glut added to worries over potentially weaker demand from China.U.S. crude was down 3 percent at $39.20 a barrel while Brent lost 2.4 percent to $44.40 a barrel.Copper, seen as a barometer of global industrial demand, tumbled 2.5 percent, with three-month copper on the London Metal Exchange hitting a six-year low of $4,920 a tonne. Nickel slid 4.6 percent to its lowest since 2009 at $9,730 a tonne.GREAT FALL OF CHINA-The near 9 percent slump in Chinese stocks was their worst performance since the depths of the global financial crisis in 2009 and wiped out what was left of the 2015 gains, which in June has been more than 50 percent.The latest rout was rooted in investor disappointment that Beijing did not announce expected policy support over the weekend after its markets shed 11 percent last week.Compounding the real-time falls all index futures contracts slumped by their 10 percent daily limit, pointing to more bad days ahead.MSCI's broadest index of Asia-Pacific shares outside Japan fell 5.1 percent to a three-year low. Tokyo's Nikkei was down 4.1 percent and Australian and Indonesian shares hit two-year troughs."China could be forced to devalue the yuan even more, should its economy falter, and the equity markets are dealing with the prospect of a weaker yuan amplifying the negative impact from a sluggish Chinese economy," said Eiji Kinouchi, chief technical analyst at Daiwa Securities in Tokyo.There was further evidence that developed markets were becoming synchronised with the troubles. London's FTSE which has a large number of global miners and oil firms, was down for its 10th straight day, its worst run since 2003.The pan-European FTSEurofirst 300, meanwhile, was down 3.1 percent by 0830 GMT at 1,382.15 points, wiping around 260 billion euros ($298.61 billion) off the index and taking its losses for the month to more that 1 trillion euros.U.S. stock futures also pointed to larger losses for Wall Street's main markets, with the S&P 500, Dow Jones Industrial and Nasdaq expected to open down 1.8, 2.2 and 3.1 percent respectively."We are in the midst of a full-blown growth scare," strategists at JP Morgan Cazenove said in a note.($1 = 0.8707 euros)(Additional reporting by Pete Sweeney in Beijing and Shinichi Saoshiro Hideyuki Sano in Tokyo; editing by John Stonestreet and Anna Willard)
Stock Rout Spreads Through Europe After China Plunge-Nick Gentle Stephen Kirkland-Updated on August 24, 2015 — 6:27 AM EDT-BLOOMBERG
Is This the Start of a Global Economic Slowdown?
A wave of selling gripped global markets as the rout in all but the safest assets deepened.Chinese shares tumbled by the most since 2007, stocks in Germany headed for a bear market and commodities fell to a 16-year low. Russia’s ruble led a selloff in emerging-market currencies, while the yen strengthened and 10-year Treasury yields slid below 2 percent for the first time since April. Futures signaled U.S. equities will retreat for a fifth day.“Everyone seems to be selling off, and there’s panic,” said Michael Woischneck who helps oversee the equivalent of $7.1 billion at Lampe Asset Management GmbH in Dusseldorf, Germany. “There’s no rational choice anymore, no rational reaction. The Americans will add to the European selling.”More than $5 trillion has been erased from the value of global equities since China unexpectedly devalued the yuan on Aug. 11, fueling concern that the slowdown in the world’s second-largest economy is worse than anticipated. The rout is shaking confidence that the global economy will be strong enough to withstand higher U.S. interest rates, even as bets ease on a September increase.Developing economies bore the brunt of the selloff, with the MSCI Emerging Markets Index sliding 4.6 percent at 6:24 a.m in New York, headed for the biggest one-day drop since September 2011. Basic-resource producers led losses as Brent crude tumbled through $45 a barrel. Treasury 10-year note yields fell as low as 1.97 percent.“We’re definitely getting a lot of calls from clients,” Michele Santangelo, a money manager at Vunani Private Clients, said by phone from Johannesburg. “You’re seeing a lot of capitulation, people selling for the sake of selling and wanting to get out of the market.”Shares in all but one company fell in the Stoxx Europe 600 Index, driving the gauge down 3.3 percent. Germany’s DAX Index retreated 2.9 percent, taking the decline from its peak in April to more than 20 percent.Standard & Poor’s 500 Index futures dropped 2.4 percent. Investors are selling their most-loved stocks, with Apple Inc. and Netflix Inc. losing more than 4 percent in early New York trading.The selloff will worsen, according to Doug Ramsey, the chief investment officer of Leuthold Weeden Capital Management LLC, whose quantitative research into market breadth, valuation and investor sentiment foreshadowed the drubbing in American stocks last week.In Asia, the Shanghai Composite Index slid 8.5 percent and Hong Kong’s Hang Seng Index fell 5.8 percent, tumbling further into a bear market. The measure is about 25 percent below an April high, with a gauge of price momentum dropping to the lowest since the October 1987 stock-market crash.“This is a real disaster and it seems nothing can stop it,” said Chen Gang, Shanghai-based chief investment officer at Heqitongyi Asset Management Co.Greater China equities plummeted, with Taiwan’s benchmark gauge dropping as much as 7.5 percent. More than $4 trillion was wiped from the value of Chinese equities from June 12 through Friday.Commodities Slide-The Bloomberg Commodity Index fell 2.1 percent, heading for the lowest closing level since August 1999.Brent and West Texas Intermediate crudes both traded at six-year lows of $44.36 and $39.36 a barrel, respectively. Gold, a haven for investors during volatile trading, slipped 0.2 percent to $1,58.34, the smallest decline among 10 precious and industrial metals in London.Currencies of basic resource-producing countries led declines, with the ruble tumbling 2.9 percent to 71.15 per dollar and Malaysia’s ringgit sliding 1.8 percent to a fresh 17- year low. South Africa’s rand dropped 1.7 percent and New Zealand’s currency weakened 1.4 percent.Turkey’s lira retreated 0.7 percent. A deadline for a coalition government passed, putting the country on course for its second parliamentary election this year.The yen advanced with the euro as Treasuries rallied amid speculation the global selloff will forestall the Federal Reserve’s first interest-rate increase since 2006.Japan’s currency jumped 1.2 percent to 120.66 per dollar, the strongest since July 9 and the euro climbed for a fourth day against the dollar, strengthening to $1.15 for the first time since February.Fed funds futures now show a probability of a December rate increase at 55 percent versus 61.1 percent on Friday. Bets on the first increase in rates in almost a decade in September fell to 28 percent, down from 34 percent.
China’s Stocks Sink Most Since 2007 as State Intervention Fails-Bloomberg News-Updated on August 24, 2015 — 4:10 AM EDT-BLOOMBERG
China’s stocks plunged the most since 2007 as government support measures failed to allay investor concern that a slowdown in the world’s second-largest economy is deepening.The Shanghai Composite Index tumbled 8.5 percent to 3,209.91 at the close to erase its gains for the year. The Hang Seng China Enterprises Index of Chinese stocks in Hong Kong fell 5.8 percent to its lowest level since March 2014. Futures on the CSI 300 Index declined by the 10 percent daily limit.Worsening economic data and signs of capital outflows are undermining unprecedented government attempts to shore up the country’s $6 trillion stock market. While China said over the weekend it will allow pension funds to buy shares for the first time, a speculated cut in bank reserve ratios failed to materialize.“This is a real disaster and it seems nothing can stop it,” said Chen Gang, Shanghai-based chief investment officer at Heqitongyi Asset Management Co. “If we don’t cut holdings ourselves, the fund faces risk of forced closure. Many newly started private funds suffered that recently. I hope we can survive.”More than 800 stocks fell by the daily 10 percent limit on the Shanghai Composite, including China Shenhua Energy Co. and China Shipbuilding Industry Co. The gauge has tumbled 38 percent from its June 12 peak to wipe out more than $4 trillion of value.The Hang Seng Index sank 5.2 percent in Hong Kong. The gauge’s relative strength index declined to 15.1, the lowest since the aftermath of the October 1987 stock market crash. A level below 30 signals to some traders losses are overdone. Taiwan’s Taiex index slid as much as 7.5 percent, before paring losses to 4.8 percent.-Stock Valuations-Economic growth slowed to 6.6 percent in July, according to Bloomberg’s monthly GDP tracker. China’s first major economic indicator for August signaled a further deterioration as a private manufacturing index fell to the lowest level in six years.“China’s economy is pretty ugly and some sectors have bubbles,” said Wu Kan, a Shanghai-based fund manager at JK Life Insurance Co., who’s keeping his holdings unchanged. “Selling pressure around global markets is also weighing on local sentiment. The Shanghai Composite may fall to around the 3,000-point level.”Stocks on mainland bourses traded at a median 61 times reported earnings on Friday, according to data compiled by Bloomberg. That’s the most among the 10 largest markets and more than three times the 19 multiple for the Standard & Poor’s 500 Index.-Stock Outflows-Yuan positions at the central bank and financial institutions fell by the most on record last month, a sign capital outflows have picked up. Chinese equity funds were the biggest contributors to more than $4 billion of outflows in Asia excluding Japan in the week to Aug. 19, EPFR Global said. Margin traders reduced holdings of shares purchased with borrowed money for a fourth day on Aug. 21.Industrial and Commercial Bank of China Ltd., the second largest, fell the most since Jan. 19 with a 9.7 percent slump. Agricultural Bank of China Ltd. slid 9.3 percent. PetroChina Co., long considered a favorite holding of state-linked rescue funds, tumbled 4.9 percent.The State Council, or cabinet, on Sunday announced it will allow pension funds to invest as much as 30 percent of their total net assets in stocks. Pension funds had net assets of 3.5 trillion yuan ($547 billion) by the end of 2014, Xinhua News Agency reported.The move is the latest attempt by the government to support the equity market, after arming a state agency with more than $400 billion, banning selling by major shareholders and telling state-owned companies to buy stocks.“The news on pension funds over the weekend was positive, but not having the expected required-reserve ratio cut or any other larger measure seems to have disappointed investors,” said Gerry Alfonso, a Shanghai-based trader at Shenwan Hongyuan Group Co. “But it is questionable whether even with one the market would have rebounded.”
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HOARDING OF GOLD AND SILVER
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.(IN 1 HR THE STOCK MARKETS WORLDWIDE WILL CRASH)
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed:(CONFISCATED) their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
REVELATION 13:16-18
16 And he(THE FALSE POPE WHO DEFECTED FROM THE CHRISTIAN FAITH) causeth all,(IN THE WORLD ) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(MICROCHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark,(MICROCHIP IMPLANT) or the name of the beast,(WORLD DICTATORS NAME INGRAVED ON YOUR SKIN OR TATTOOED ON YOU OR IN THE MICROCHIP IMPLANT) or the number of his name.(THE NUMBERS OF HIS NAME INGRAVED IN THE MICROCHIP IMLPLANT)-(ALL THESE WILL TELL THE WORLD DICTATOR THAT YOUR WITH HIM AND AGAINST KING JESUS-GOD)
18 Here is wisdom. Let him that hath understanding count the number of the beast:(WORLD LEADER) for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM (6006006)OR(60020202006)(SOME KIND OF NUMBER IMPLANTED IN THE MICROCHIP THAT TELLS THE WORLD DICTATOR AND THE NEW WORLD ORDER THAT YOU GIVE YOUR TOTAL ALLIGIENCE TO HIM AND NOT JESUS)(ITS AN ETERNAL DECISION YOU MAKE)(YOU CHOOSE YOUR OWN DESTINY)(YOU TAKE THE DICTATORS NAME OR NUMBER UNDER YOUR SKIN,YOUR DOOMED TO THE LAKE OF FIRE AND TORMENTS FOREVER,NEVER ENDING MEANT ONLY FOR SATAN AND HIS ANGELS,NOT HUMAN BEINGS).OR YOU REFUSE THE MICROCHIP IMPLANT AND GO ON THE SIDE OF KING JESUS AND RULE FOREVER WITH HIM ON EARTH.YOU CHOOSE,ITS YOUR DECISION.
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
THE CENTRAL BANKS ARE READY TO INTERVENE IN THIS WORLD STOCK MARKET CRASH.IF THEY HAVE TO.
GLOBAL MARKETS REMAIN DEPENDENT ON CENTRAL BANKS-BIS
https://www.bis.org/
http://ift.tt/1hVJI8y
http://ift.tt/1LyGgvF
http://ift.tt/1eUM4n2
Stock futures fall sharply as Chinese stocks plunge-Reuters-AUG 24,15-YAHOONEWS
(Reuters) - U.S. stock index futures fell sharply on Monday as Chinese stocks plunged more than 8 percent after Beijing did not come through with further support in response to the market's rout last week.S&P 500 e-minis (ESc1) were down 46 points, or 2.33 percent, with 752,999 contracts traded by 6:24 a.m. ET.Nasdaq 100 e-minis (NQc1) were down 160.5 points, or 3.82 percent, on volume of 106,028 contracts, while Dow e-minis (1YMc1) were down 414 points, or 2.51 percent, with 95,546 contracts exchanged.(Reporting by Tanya Agrawal; Editing by Ted Kerr)
Mon, Aug 24, 2015, 6:45 AM EDT - U.S. Markets open in 2 hrs 45 mins-Great fall of China sinks world stocks, dollar tumbles-Reuters-AUG 24,15-YAHOONEWS
LONDON (Reuters) - Alarm bells rang across world markets on Monday as a 9 percent dive in Chinese shares and a sharp drop in the dollar and major commodities panicked investors.European stocks opened more than 3 percent in the red after their Asian counterparts slumped to 3-year lows as a three month-long rout in Chinese equities threatened to get out of hand.Safe-haven government bonds and the yen and the euro rallied as widespread fears of a China-led global economic slowdown and currency war kicked in."It is a China driven macro panic," said Didier Duret, chief investment officer at ABN Amro. "Volatility will persist until we see better data there or strong policy action through forceful monetary easing."With serious doubts now emerging about the likelihood of a U.S. interest rate rise this year, the dollar slid against other major currencies. It was last at 120.25 yen its lowest in three months.The Australian dollar fell to six-year lows and many emerging market currencies also plunged, whilst the frantic dash to safety pushed the euro to a 6-1/2-month high."Things are starting look like the Asian financial crisis in the late 1990s. Speculators are selling assets that seem the most vulnerable," said Takako Masai, head of research at Shinsei Bank in Tokyo.Commodity markets took a fresh battering. Brent and U.S. crude oil futures hit 6-1/2-year lows as concerns about a global supply glut added to worries over potentially weaker demand from China.U.S. crude was down 3 percent at $39.20 a barrel while Brent lost 2.4 percent to $44.40 a barrel.Copper, seen as a barometer of global industrial demand, tumbled 2.5 percent, with three-month copper on the London Metal Exchange hitting a six-year low of $4,920 a tonne. Nickel slid 4.6 percent to its lowest since 2009 at $9,730 a tonne.GREAT FALL OF CHINA-The near 9 percent slump in Chinese stocks was their worst performance since the depths of the global financial crisis in 2009 and wiped out what was left of the 2015 gains, which in June has been more than 50 percent.The latest rout was rooted in investor disappointment that Beijing did not announce expected policy support over the weekend after its markets shed 11 percent last week.Compounding the real-time falls all index futures contracts slumped by their 10 percent daily limit, pointing to more bad days ahead.MSCI's broadest index of Asia-Pacific shares outside Japan fell 5.1 percent to a three-year low. Tokyo's Nikkei was down 4.1 percent and Australian and Indonesian shares hit two-year troughs."China could be forced to devalue the yuan even more, should its economy falter, and the equity markets are dealing with the prospect of a weaker yuan amplifying the negative impact from a sluggish Chinese economy," said Eiji Kinouchi, chief technical analyst at Daiwa Securities in Tokyo.There was further evidence that developed markets were becoming synchronised with the troubles. London's FTSE which has a large number of global miners and oil firms, was down for its 10th straight day, its worst run since 2003.The pan-European FTSEurofirst 300, meanwhile, was down 3.1 percent by 0830 GMT at 1,382.15 points, wiping around 260 billion euros ($298.61 billion) off the index and taking its losses for the month to more that 1 trillion euros.U.S. stock futures also pointed to larger losses for Wall Street's main markets, with the S&P 500, Dow Jones Industrial and Nasdaq expected to open down 1.8, 2.2 and 3.1 percent respectively."We are in the midst of a full-blown growth scare," strategists at JP Morgan Cazenove said in a note.($1 = 0.8707 euros)(Additional reporting by Pete Sweeney in Beijing and Shinichi Saoshiro Hideyuki Sano in Tokyo; editing by John Stonestreet and Anna Willard)
Stock Rout Spreads Through Europe After China Plunge-Nick Gentle Stephen Kirkland-Updated on August 24, 2015 — 6:27 AM EDT-BLOOMBERG
Is This the Start of a Global Economic Slowdown?
A wave of selling gripped global markets as the rout in all but the safest assets deepened.Chinese shares tumbled by the most since 2007, stocks in Germany headed for a bear market and commodities fell to a 16-year low. Russia’s ruble led a selloff in emerging-market currencies, while the yen strengthened and 10-year Treasury yields slid below 2 percent for the first time since April. Futures signaled U.S. equities will retreat for a fifth day.“Everyone seems to be selling off, and there’s panic,” said Michael Woischneck who helps oversee the equivalent of $7.1 billion at Lampe Asset Management GmbH in Dusseldorf, Germany. “There’s no rational choice anymore, no rational reaction. The Americans will add to the European selling.”More than $5 trillion has been erased from the value of global equities since China unexpectedly devalued the yuan on Aug. 11, fueling concern that the slowdown in the world’s second-largest economy is worse than anticipated. The rout is shaking confidence that the global economy will be strong enough to withstand higher U.S. interest rates, even as bets ease on a September increase.Developing economies bore the brunt of the selloff, with the MSCI Emerging Markets Index sliding 4.6 percent at 6:24 a.m in New York, headed for the biggest one-day drop since September 2011. Basic-resource producers led losses as Brent crude tumbled through $45 a barrel. Treasury 10-year note yields fell as low as 1.97 percent.“We’re definitely getting a lot of calls from clients,” Michele Santangelo, a money manager at Vunani Private Clients, said by phone from Johannesburg. “You’re seeing a lot of capitulation, people selling for the sake of selling and wanting to get out of the market.”Shares in all but one company fell in the Stoxx Europe 600 Index, driving the gauge down 3.3 percent. Germany’s DAX Index retreated 2.9 percent, taking the decline from its peak in April to more than 20 percent.Standard & Poor’s 500 Index futures dropped 2.4 percent. Investors are selling their most-loved stocks, with Apple Inc. and Netflix Inc. losing more than 4 percent in early New York trading.The selloff will worsen, according to Doug Ramsey, the chief investment officer of Leuthold Weeden Capital Management LLC, whose quantitative research into market breadth, valuation and investor sentiment foreshadowed the drubbing in American stocks last week.In Asia, the Shanghai Composite Index slid 8.5 percent and Hong Kong’s Hang Seng Index fell 5.8 percent, tumbling further into a bear market. The measure is about 25 percent below an April high, with a gauge of price momentum dropping to the lowest since the October 1987 stock-market crash.“This is a real disaster and it seems nothing can stop it,” said Chen Gang, Shanghai-based chief investment officer at Heqitongyi Asset Management Co.Greater China equities plummeted, with Taiwan’s benchmark gauge dropping as much as 7.5 percent. More than $4 trillion was wiped from the value of Chinese equities from June 12 through Friday.Commodities Slide-The Bloomberg Commodity Index fell 2.1 percent, heading for the lowest closing level since August 1999.Brent and West Texas Intermediate crudes both traded at six-year lows of $44.36 and $39.36 a barrel, respectively. Gold, a haven for investors during volatile trading, slipped 0.2 percent to $1,58.34, the smallest decline among 10 precious and industrial metals in London.Currencies of basic resource-producing countries led declines, with the ruble tumbling 2.9 percent to 71.15 per dollar and Malaysia’s ringgit sliding 1.8 percent to a fresh 17- year low. South Africa’s rand dropped 1.7 percent and New Zealand’s currency weakened 1.4 percent.Turkey’s lira retreated 0.7 percent. A deadline for a coalition government passed, putting the country on course for its second parliamentary election this year.The yen advanced with the euro as Treasuries rallied amid speculation the global selloff will forestall the Federal Reserve’s first interest-rate increase since 2006.Japan’s currency jumped 1.2 percent to 120.66 per dollar, the strongest since July 9 and the euro climbed for a fourth day against the dollar, strengthening to $1.15 for the first time since February.Fed funds futures now show a probability of a December rate increase at 55 percent versus 61.1 percent on Friday. Bets on the first increase in rates in almost a decade in September fell to 28 percent, down from 34 percent.
China’s Stocks Sink Most Since 2007 as State Intervention Fails-Bloomberg News-Updated on August 24, 2015 — 4:10 AM EDT-BLOOMBERG
China’s stocks plunged the most since 2007 as government support measures failed to allay investor concern that a slowdown in the world’s second-largest economy is deepening.The Shanghai Composite Index tumbled 8.5 percent to 3,209.91 at the close to erase its gains for the year. The Hang Seng China Enterprises Index of Chinese stocks in Hong Kong fell 5.8 percent to its lowest level since March 2014. Futures on the CSI 300 Index declined by the 10 percent daily limit.Worsening economic data and signs of capital outflows are undermining unprecedented government attempts to shore up the country’s $6 trillion stock market. While China said over the weekend it will allow pension funds to buy shares for the first time, a speculated cut in bank reserve ratios failed to materialize.“This is a real disaster and it seems nothing can stop it,” said Chen Gang, Shanghai-based chief investment officer at Heqitongyi Asset Management Co. “If we don’t cut holdings ourselves, the fund faces risk of forced closure. Many newly started private funds suffered that recently. I hope we can survive.”More than 800 stocks fell by the daily 10 percent limit on the Shanghai Composite, including China Shenhua Energy Co. and China Shipbuilding Industry Co. The gauge has tumbled 38 percent from its June 12 peak to wipe out more than $4 trillion of value.The Hang Seng Index sank 5.2 percent in Hong Kong. The gauge’s relative strength index declined to 15.1, the lowest since the aftermath of the October 1987 stock market crash. A level below 30 signals to some traders losses are overdone. Taiwan’s Taiex index slid as much as 7.5 percent, before paring losses to 4.8 percent.-Stock Valuations-Economic growth slowed to 6.6 percent in July, according to Bloomberg’s monthly GDP tracker. China’s first major economic indicator for August signaled a further deterioration as a private manufacturing index fell to the lowest level in six years.“China’s economy is pretty ugly and some sectors have bubbles,” said Wu Kan, a Shanghai-based fund manager at JK Life Insurance Co., who’s keeping his holdings unchanged. “Selling pressure around global markets is also weighing on local sentiment. The Shanghai Composite may fall to around the 3,000-point level.”Stocks on mainland bourses traded at a median 61 times reported earnings on Friday, according to data compiled by Bloomberg. That’s the most among the 10 largest markets and more than three times the 19 multiple for the Standard & Poor’s 500 Index.-Stock Outflows-Yuan positions at the central bank and financial institutions fell by the most on record last month, a sign capital outflows have picked up. Chinese equity funds were the biggest contributors to more than $4 billion of outflows in Asia excluding Japan in the week to Aug. 19, EPFR Global said. Margin traders reduced holdings of shares purchased with borrowed money for a fourth day on Aug. 21.Industrial and Commercial Bank of China Ltd., the second largest, fell the most since Jan. 19 with a 9.7 percent slump. Agricultural Bank of China Ltd. slid 9.3 percent. PetroChina Co., long considered a favorite holding of state-linked rescue funds, tumbled 4.9 percent.The State Council, or cabinet, on Sunday announced it will allow pension funds to invest as much as 30 percent of their total net assets in stocks. Pension funds had net assets of 3.5 trillion yuan ($547 billion) by the end of 2014, Xinhua News Agency reported.The move is the latest attempt by the government to support the equity market, after arming a state agency with more than $400 billion, banning selling by major shareholders and telling state-owned companies to buy stocks.“The news on pension funds over the weekend was positive, but not having the expected required-reserve ratio cut or any other larger measure seems to have disappointed investors,” said Gerry Alfonso, a Shanghai-based trader at Shenwan Hongyuan Group Co. “But it is questionable whether even with one the market would have rebounded.”
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