The Traderszone Network

UBS forecast for 2016 China GDP hitting the Bloomberg
– Now at 6.2%, revised from 6.5%
For the balance of this year, they expect Q4 to stabilize at 6.9% to give 6.9-7% for the full year on 2015

Apple Inc (AAPL.O) painted a rosy picture for its new iPhones as it reported quarterly results on Tuesday, but investors were more focused on the company’s next test: topping last year’s record holiday sales. Shares of the world’s most profitable company initially rose 3 percent in extended trade after Apple beat Wall Street’s sales and profit forecasts, but the gains largely evaporated later.

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Asian stocks slipped early on Wednesday, taking cues from an overnight decline on Wall Street while a wait-and-see mood prevailed ahead of a policy statement from the U.S. Federal Reserve due later in the day. On Wall Street, the Dow (.DJI) fell 0.2 percent and the S&P 500 (.SPX) retreated 0.3 percent. Closely watched earnings from Apple Inc (AAPL.O) released late on Tuesday showed the company paint a rosy picture for its new iPhones but a quarterly slowdown of overall sales in China cast doubt on the robustness of Apple’s legendary profitability.

– Shanghai Comp to open down 0.5%

Following Marc Faber’s reality check on China recently, Hayman Capital’s Kyle Bass took a swing tonight noting that “China’s 7% GDP growth is a farce,” and adding that, just as we detailed previously, China’s credit cycle has begun and non-performing loans will rise rapidly leading to an emerging Asia banking crisis aheadread more