08:10am  Day away from the markets today, I am heading out at 9am for a game of golf and then shopping in Norwich this afternoon. Back trading tomorrow.

Market Update:

Once again the Asian markets will be dictating the direction of the markets this morning. Overnight the Shanghai Composite and Hang Seng Index both fell considerably with the Japanese Nikkei 225 index has officially fallen into a bear market as it has dropped over 20% since the highs of last summer.

Concerns about the Chinese economy is at the top of traders thoughts as the government attempts to change the economy from  purely manufacturing to a more service centered one. They are doing quite well with the changeover plans but markets are still spooked due to the overwhelmingly large levels of debt still prevalent due to quick expansion over the last 10 years. If exports slow as the government would like, where is the foreign currency going to come from to service the debts ?

Crude oil markets are falling again this morning and the weekly U.S. stock situation may well spook the markets yet again as it is expected that latest numbers will show a build of over 3 million barrels in the past week.