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Chinese concerns weigh on sentiment

Published Thursday, March 13th, 2014

Growing fears of a Chinese economic slowdown weighed heavily on sentiment yesterday with global stock and emerging-market assets taking most of the brunt. Moreover, the fallout from China’s first corporate default is at the forefront of investor concerns and has highlighted the challenges facing the country’s domestic debt markets.  The upshot has been a steady increase in appetite for safe-haven assets which saw gold hit a 5-1/2 month high.

The sour mood was compounded by the ongoing failings at resolving the Ukrainian crisis. Prospects of a solution took a step in the wrong direction as Crimea’s deputy prime minister announced it is to take ownership of Ukrainian state companies located in the territory. With this weekend’s referendum likely to go ahead and the EU preparing for sanctions against the Russians, even the most optimistic are preparing themselves for the worst.

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.