Noble Apex-Daily Market Commentary

2018-11-28 01:21
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27/11/2018

Trump and Xi Jinping will hold a dinner party during the G-20 summit on this Saturday,  the exchange rate of Emerging Market currencies and assets may be fluctuated. The White House economic adviser claimed if there is no progress in the meeting, Trump will increase the tariffs. China claimed that it would further open the market and accelerate the reform of state-owned enterprises before the G-20 summit. According to the comment of Fed’s decision-makers,  it is more likely that the Federal Reserve will increase the interest rate in December.

  • The Dow Jones Industrial Average closed at 24,748.73 points, increased by 108.49 points or 0.44%. The Standard & Poor’s 500 Index closed at 2,682.17 points, increased by points or 0.33%. The Nasdaq index closed at 7,082.70 points, increased by 0.85 points or 0.01%.
  • Trump and Xi Jinping will hold a dinner in Buenos Aires on Saturday night. Kudlow, the White House chief economic adviser,  said that Trump believed it is possible that China and US would reach an agreement. However, if there is no progress in the G-20 meeting, US will impose more tariffs on Chinese imports.
  • Clarida, the Fed Vice Chairman, supported a gradual interest rate growth, claiming that there is not an real neutral interest rate and said that the downside risk has decreased compared with the rate of three years ago.
  • The UK’s FTSE 100 index closed at 7,016.85 points, decreased by 19.15 points or 0.27%. The Frankfurt DAX index closed at 11,309.11 points, decreased by 45.61 points or 0.40%. The French CAC40 index closed at 4,983.15 points, decreased by 11.83 points or 0.24%.
  • The senior economic adviser of Italy said that the government is considering to reduce the budget deficit rate to 2.2% to 2.3%. However, an Italy officer claimed that the EU has clearly stated that it hopes the deficit rate of Italy will not exceed 2%.
  • The EU denies that the European and American negotiators will meet to avoid increasing tariffs on cars. German business magazine WirtschaftsWoche reported that Trump is preparing to impose tariffs as early as next week.

  • Japan’s Nikkei 225 index closed at 21,952.40 points, increased by 140.40 points or 0.64%. The yen closed at 113.590 against the US dollar, decreased by 0.317%.
  • According to the data from the Bank of Japan, Japan’s corporate service price index growth was 1.3% year-on-year in October, which was higher than the  market expectations of 1.2%.

  • The Shanghai Composite Index closed at 2,574.68 points, decreased by 1.13 points or 0.04%. The Shanghai and Shenzhen 300 Index closed at 3,137.24 points, decreased by 4.00 points or 0.13%. The RMB closed at 6.949 against 1 US dollar, decreased by 0.128%.
  • China will open the market before the meeting between Trump and Xi Jinping. Liu He, the Vice Premier, said that China will take further measures to help the foreign companies to access China’s market as soon as possible and will accelerate the reform of state-owned enterprises.
  • China will list more financial institutions as systemically important institutions, showing that policymakers are putting efforts in preventing crises by maintaining the debt burdens and financial risks level in an unprecedented level.


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