Asian markets are down this time accompanied by a drop on commodity prices. The demand for basic metals or industrial metals in China, to give an example, fell in operation this week, both in Southeast Asia and mainland China.
In recent days, according to specialists in the area and official reports, metal prices fell by a whopping 3.0% in the different stocks of the Eastern market.
All this is due to the fear that from Beijing the anti-speculation policies of the commodity markets will recruit along with an increase of the regulatory measures in the financial markets, apart from a context of falling confidence levels with respect to domestic trade.
The Shanghai Composite Index, SHCOMP fell 0.9%, while Hong Kong’s Hang Seng HSI extended losses to 0.8% from last week; and the Hang Seng sub index, which tracks the share prices of Chinese companies listed on that parquet, also extended losses to a 1.9% decline.
While on the other hand the future contracts of iron ore, was reduced by 7.7% according to specialized information in the area. In this way, the Commodity Exchange or Dalian Commodities in China which last week fell 8.0%. Rolled coil futures fell in Shanghai by 4.2% along with steel barrel contracts that fell 3.1%.
The Lima pole, is eminently mining because it is the sector that more list of the securities in the indexes of Lima Stock Exchange, this is linked to the extractive and export activity, mainly to China, of basic, industrial and precious metals; because that parquet, does not acknowledge a receipt of some collapse in the Asian market.
The SP / BLV Lima 25, which includes the most liquid and fixed-income securities on the market, runs to a maximum of 24,109.67 units for the 0.17% change compared to last week.
However, the gold price at the London Bullion Market Association which closed at 1,228.05 troy ounces of fine, down 3.02% from last month’s price, the SP / BVL MINUNG trades at a maximum of 259.61 points, varying so far in the day by a solid 0.73% compared to the previous day.
Nevertheless, there are some negative results in the SP / BVL PERU GEN of about 15,484.40 points for a momentary fall of 0.19%.
As one trader from a well-known Lima brokerage explained, the Chinese impact was not absorbed because ours are clearer than last week; in addition, it is betting on the values of more diversified sectors as the constructions and the good perspectives in the medium term due to the reconstruction after El Niño.