US Commerce Secretary Ross said that the China-US summit will only reach a framework trade agreement at best, and plans to raise China’s tariff to 25% in January. Several British ministers were dissatisfied with the draft Brexit agreement, and the Conservatives demanded a vote of no confidence in British Prime Minister Theresa May. The pound and European stocks fell sharply. The United States announced sanctions against 17 Saudi Arabian officials on the murder of journalist Khashoggi.
- The Dow Jones Industrial Average closed at 25,289.27 points, increased by 208.77 points or 0.83%. The S&P 500 Index closed at 2,730.20 points, increased by 28.62 points or 1.06%. The NASDAQ index closed at 7,259.03 points, increased by 122.64 points or 1.72%.
- US Secretary of Commerce Ross: The United States still plans to raise China’s tariffs to 25% in January. The China-US summit will only reach a framework trade agreement at best. China and the United States cannot reach a comprehensive formal agreement by January.
- US Energy Information Administration report last week Crude oil stock increased by 10.27 million barrels, the largest growth since February 2017.
- The UK’s FTSE 100 index closed at 7,038.01 points, increased by 4.22 points or 0.06%. The Frankfurt DAX index closed at 11,353.67 points, decreased by 58.86 points or 0.52%. The French CAC40 index closed at 5,033.62 points, decreased by 35.23 points or 0.70%.
- Theresa May’s draft on Brexit Agreement issue faced with more and more opposition, several cabinet ministers including the Brexit minister, Rab, resigned, causing the European stock market to fall sharply on Thursday.
- According to the European Bureau of Statistics, the euro zone’s trade surplus narrowed to 13.4 billion euros in September this year, far below the market’s estimate of 16.3 billion euros, and the previous value surplus was revised up to 16.6 billion euros from 16.6 billion euros.
- Japan’s Nikkei 225 index closed at 21,803.62 points, decreased by 42.86 points or 0.20%. The Japanese YEN closed at 113.430 against the US dollar, decreased by 0.441%.
- The Ministry of Economy, Trade and Industry announced that Japan’s September third industry activity index fell by 1.1% month-on-month to 104.8.
- The Shanghai Composite Index closed at 2,668.17 points, increased by 35.93 points or 1.36%. The Shanghai and Shenzhen 300 Index closed at 3,242.37 points, increased by 37.43 points or 1.17%. The RMB closed at 6.941 against 1 US dollar, increased by 0.193%.
- Moody’s inventory in 2019, emerging market default risk, Argentina and China are among the best. Moody’s believes that if trade tensions between Washington and Beijing lead to a slowdown in China’s economy, it may trigger a wave of Chinese companies defaulting.
- China’s planning to put more resources on pre-university education, Private kindergarten is not allowed to be packaged separately or as part of an asset. A listed company may not invest in a for-profit kindergarten through the stock market financing, and may not purchase for-profit kindergarten assets by issuing shares or paying cash.