When US Sneezes, Asia Catches a Cold

The US market fell by2% after latest data supports the inflationary pressures in US and the market just let go. Asia Markets fell more than proportionately than the US market on the following days. Asia markets still much more volatile than US.

However, there is a surprise from all these episodes. China is the only market that buck the trend by moving upwards on both days. There is an increasing negative correlation between China and US. When US is in trouble, China benefits.

What could be the reason? Anyone can offer an explanation?