Good morning everyone. The futures market seems to be pointing to another down day here in Asia as contracts on the Hang Seng Index fell over 3% while futures on the Nikkei Average slip over 1%. The Hang Seng China Enterprises Index and the CSI 300 meanwhile, sank 3.9% and 8.6% respectively.
Here’s what else you need to know:
The Varoufakis Tapes. Here’s the alleged audio of former Greece finance minister Yanis Varoufakis opening the kimono on “Plan B” to international hedge fund managers. Check it out, it’s a must listen. Official Monetary and Financial Institutions Forum (audio)
Survey says: investors are getting a little bit scared of China. An interesting survey from Bank of America Merrill Lynch shows that a Chinese hard landing has supplanted a broad sell-off in treasurys as the biggest fear emerging market investors have at the moment. Financial Times (paywall)
Baidu falls short. Chinese Internet search company Baidu missed forecasts, reporting third quarter predictions for net revenue of 18.17 billion to 18.58 billion yuan, below the analyst prediction of 18.79 billion yuan. Stocks fell 5% in extended trading. Yahoo
FINRA slaps GS with another fine. U.S. regulator FINRA has fined Goldman Sachs $1.8 million for “reporting violations spanning a period of more than eight years, failure to accurately submit required trade reports to the appropriate FINRA Trade Reporting Facility (TRF), and related supervisory failures.” FINRA
Lord Sewel had a little too much fun. British lord and deputy speaker of the House of Lords appeared on the cover of The Sun Sunday snorting a white powder with two women the publication says are prostitutes. Slow clap for Lord Sewel, who is in charge of standards and discipline for House of Lords. In the House of Commons, speaker John Bercow is also in trouble for making some very questionable expenses. Time for Parliament to check itself. Reuters
Photo: Rog b