...looks like Monday fear grips Asian markets first.
...ASX to lose a whopping -173pts or -2.18% to 7,770 sitting at its early July major support
Futures Contracts for ASX SPI 200 Index Futures — TradingView
The Nikkei has gone up so much in that catch up trade- many Wall St funds tilted towards Japan after falling out of love with China, now they're rushing out of Japan just as they did with China
https://x.com/SuburbanDrone/status/1819862841362399504
...the spectre of overcrowded trades. People can call it whatever fundamentals etc etc, at the end of the day, its funds flow and gambling spirit.
Over the past ten years every global market shock has emanated from Asia due to policy divergence with the U.S., and the pandemic.
I am calling this particular shock the "BOJ crash" as U.S. and Japanese monetary policy have just collided.
Friday was the second worst day for Japanese stocks in history.
I would point out that every vol shock took place on a Monday. FYI.
https://x.com/SuburbanDrone/status/1819861608979648839
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