LiveChina Markets Live - All Chinese markets closed for holiday, Japan market finishes slightly up
The intense volatility of recent weeks has every chance of remaining the core underlying theme of activity. Investors are increasingly focused the broader question of how this episode might affect the wider economy.
Welcome to the SCMP's live markets blog. The intense volatility of recent weeks has every chance of remaining the core underlying theme of activity. Investors are increasingly focused the broader question of how this episode might affect the wider economy as many suspect the equity bubble has yet to fully deflate. We'll bring you the key levels, trading statements, price action and other developments as they happen.
Here’s a summary of market action in Asia along with analyst comments and views:
- Shares in Japan close up 0.5 per cent as volatility weighs
- Australian shares down near 2-year low
- Wall Street, global stocks shoot up as fears over China abate for now
- Chinese markets closed Thursday and Friday for holidays, reopens Monday
- Hong Kong market shut Thursday for holiday, reopens Friday
- Investors look toward US jobs data due out on Friday, US markets shut Monday for Labor Day
3:54pm: CLSA analyst Aaron Fischer on Macau's casinos:
“We have seen six consecutive months of gross gaming revenue (GGR) year on year declines in the thirties. This is a tad worse than our original assumptions and we make per cent decline in 2015, versus -29 per cent previously.
We expect September to post year on year growth in the negative thirties but it should start to get easier after that. Melco Crown’s Studio City, opening on 27th October, could prove to be a long overdue catalyst for the sector, as the first free-standing property to open since 2012.
We expect growth to turn positive in February 2016, as we enter the Year of the Monkey in China. After that, new properties from Wynn, Sands, Louis XIII and MGM make 2016 a big year for Macau.