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Noble Apex-Daily Market Commentary

2018-11-21 01:08
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The US Trade Representative blamed China of continuing to steal intellectual property rights and technology, while Trump promoted plans to limit US high-end technology exports. The global stock market’s decline is continuing, European stock markets have decreased more than $1 trillion since the end of September. Crude oil prices fell below $54 a barrel for the first time in a year, and energy stocks and commodity currencies fell.

  • The Dow Jones Industrial Average closed at 24,465.64 points, decreased by 551.80 points or 2.21%. The S&P 500 Index closed at 2,641.89 points, decreased by 48.84 points or 1.82%. The NASDAQ index closed at 6,908.82 points, decreased by 119.65 points or 1.70%.
  • US Trade Representative blames China of continuing to steal intellectual property rights and technology. Robert Lighthizer said China has not fundamentally changed its unfair, unreasonable and market-distorting practices.
  • Trump criticized the Federal Reserve and called for lower interest rates.

  • The UK’s FTSE 100 index closed at 6,947.92 points, decreased by 52.97 points or 0.76%. The Frankfurt DAX index closed at 11,066.41 points, decreased by 178.13 points or 1.58%. The French CAC40 index closed at 4,924.89 points, decreased by 60.56 points or 1.21%.
  • MerkelIt, German Chancellor, said it is the time to sign the draft of the Brexit Agreement. She hinted that if Trisha May asked for a renegotiation agreement, the EU summit for Brexit would not be held.
  • European stock market value has decreased by more than $1 trillion since the end of September, traders said investors lost confidence in European stock markets due to the situation in Italy and Brexit.

  • Japan’s Nikkei 225 index closed at 21,583.12 points, decreased by 238.04 points or 1.09%. The Japanese YEN closed at 112.450 against the US dollar, increased by 0.258%.
  • Same-store sales at Japan’s convenience stores slid 1.5% year-on-year in October to JPY819.356 billion, ending the four-month rising streak, data from Japan Franchise Association showed. Average value per receipt dropped 2% year-on-year to JPY60.22.

  • The Shanghai Composite Index closed at 2,645.85 points, decreased by 57.66 points or 2.13%. The Shanghai and Shenzhen 300 Index closed at 3,218.41 points, decreased by 76.19 points or 2.31%. The RMB closed at 6.944 against 1 US dollar, decreased by 0.007%.
  • With the expectation of RMB depreciation rising again in the second half of the year, the situation in the foreign exchange market tends to choose to delay the settlement of foreign exchange. According to Bloomberg data, the bank’s valet exchange rate began to fall after rising to a three-year high of 72.5% in July this year, and fell to 65.2% in October.
  • The Philippines and China signed a joint oil development and more than 20 other agreements. The agreements also involved RMB clearing, panda bond issuance, and bridge dam project financing.

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