Noble Apex-Daily Market Commentary

2018-11-08 02:21
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01/11/2018

Trump and Xi Jinping had a phone call on the issue of trade tariff  and North Korea. Both sides are looking forward to have a further discussions on major issues during the G20 Summit. The Bank of England did not take any action on Thursday, but hinted that the interest rate may rise. The United States accused Fujian Jinhua and Taiwan’s UMC, Chinese State Owned Enterprises, of conspiring to steal Micron’s business secrets.

  • The Dow Jones Industrial Average closed at 25,380.74 points, increased by 264.98 points or 1.06%. The S&P 500 Index closed at 2,740.37  points, increased by 28.63 points or 1.06 %. The NASDAQ index closed at 7,434.06 points, increased by 128.16 points or 1.75%.
  • Trump and Xi Jinping made a phone call on November 1st, and Trump said they had a fruitful conversation on trade and North Korea issues.
  • The Institute of Supply Management announced that the US manufacturing index fell to a six-month low in October, which is lower than the market expectation.

  • The UK’s FTSE 100 index closed at 7,114.66 points, decreased by 13.44 points or 0.19%. The French CAC40 index closed at 5,085.78 points, down 7.66 points or 0.15%. The Frankfurt DAX index closed at 11,468.54 points, increased by 21.03 points or 0.18%.
  • The Bank of England kept the interest rates unchanged on Thursday. The Monetary Policy Committee expects inflation rate will remain above the 2% target level in the next two years.
  • Barnier, the EU’s chief Brexit negotiator, said the EU was ready to conduct a close regulatory communication with the UK, but denied that they had reached an agreement on the issue of bank single market access.

  • Japan’s Nikkei 225 index closed at 21,687.65 points, decreased by 232.81 points or 1.06%. The Japanese YEN closed at 112.980 against the US dollar, increased by 0.133%.
  • According to the data of Nikkei, the Japan’s manufacturing purchasing managers’ index (PMI) increased from 52.5 in September to 52.9 in October.

  • The Shanghai Composite Index closed at 2,606.24 points, increased by 3.45 points or 0.13%. The Shanghai and Shenzhen 300 Index closed at 3,177.03 points, increased by 23.21 points or 0.74%. The RMB closed at 6.945 against 1 US dollar, increased by 0.393%.
  • The People’s Bank of China encourages banks to issue bonds by using credit risk mitigation tools (CRM).
  • According to the data of China Customs, China’s imports of US soybeans fell by more than 80% in September. Besides, the export volume of Brazil grew by 28% in September.

 

 

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