​Weekly: Single Stock Trading Continues; Tax To Boost Kospi Minis

China’s A-share market again weighed heavily on global markets this week, as the world’s second largest economy saw sharp declines to its equity at the start of the week. While the VIX saw decent volume Monday as a result, the index declined throughout the week. The declining VIX, coupled with better than expected earnings, particularly in tech, has driven two way single stock trading there, while the situation in energy has largely been about protection buying. In Europe, increased concerns surrounding future consumption in China have also opened up volatility trading opportunities in single stocks and sectors. Miners, autos and luxury goods companies in Europe are finding particular focus from buysiders. Meanwhile in Asia, a transfer tax to be levied on standard Kospi 200 futures and options that applies to retail investors could drive investors to switch into Kospi 200 mini-products in 2016, should the latter be exempt.