Tuesday, January 29, 2008
Asian markets mixed ahead of FED meeting
Asian markets are mixed as they wait for tomorrow's FED meeting. As in the US, they expect an interest rate cut of at least 50 basis points. China's bad weather is a major news story. Between extreme cold & heavy snow, this is the worst winter in 50 or 100 years depending on the news report. China is deploying 500,000 troops to help people cope. As the Chinese new year approaches, the weather makes it difficult for many to reach their destinations. This weather will reduce exports, China exports almost $1B to the US every day.
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