Today, before the opening of Ukrainian stock exchanges, we can confidently say that investors are still in high spirits. Since the beginning of the month is traditionally equated with the publication of PMI business activity indices for all key economies, starting with Asian countries and, most importantly, with China. As a result, we have two points of view – a private one (from the bank HSBC) and an official one. According to the first version, business activity has increased; according to the second, it has declined.
The moderately negative market reaction, which was replaced by moderately positive sentiment during the Asian trading session, suggests that market participants are inclined to believe the official version. At the same time, investors should take into account a few fact: the vast majority of data will be presented to the public during the day and the most important of the publications will be that of the American ISM PMI. In the meantime, there is every reason to suppose that, this morning, markets are tending towards moderate growth.
