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Asian Markets Rocked by Election Uncertainty

The Shenzhen Component Index headed lower by 0.6 per cent to 10,733.57. The Shenzhen Composite fell 0.3 per cent to 2,067.17. The Nasdaq-style ChiNext Price Index lost 0.9 per cent to 2,157.49.

“A case of pre-FOMC (Federal Open Market Committee) and US election jitters gripped cross-asset markets overnight, dampening market enthusiasm and ensnaring trading desks with a severe case of the fidgets, ” said Stephen Innes, a senior trader at Oanda Asia-Pacific, in a note on Wednesday.

“We have been saying all along: the market has been itching to sell risk in the pre-election build up,” he added.

South China Morning Post [1]

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes [5]

Head of Trading APAC at OANDA [6]
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

Latest posts by Stephen Innes (see all [5])