Asian markets returned to positive territory today for the exception of mainland shares. Shanghai’s bourse (-7.70%) was rocked by a couple negative news. The Housing Price Index posted a decline of -4.3%, which is the largest since 2011, and is fueling more concerns about the stability of the Chinese property sector. Moreover, China’s securities regulation body posed restriction on margin trading on three major brokers because of incompliance with levered accounts which are believed to have contributed to the exponential growth the stock market in the recent months.

On a global scale, markets are still dealing with shockwaves from the SNB announcement to drop the peg on the Euro. The losses incurred to those exposed to the Franc are still being evaluated as some brokers and funds have already announced insolvency. The large fluctuations in the currency are exposing positions which were once believed to be safe.

US Market

US markets are closed today because of the Martin Luther King’s Day holiday.