Noble Apex-Daily Market Commentary

2018-11-30 01:25
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29/11/2018

On the eve of the Sino-US summit, Trump hinted that it is expected the US may reach a trade agreement with China. It is reported that the United States may postpone the tariff plan that imposes on China in exchange for Chinese concessions. The minutes of the meeting shows that the Federal Reserve may raise interest rates again and is preparing for a more flexible plan. China will announce the official PMI for November today, and the manufacturing and non-manufacturing PMI are basically unchanged from last month.

  • The Dow Jones Industrial Average closed at 25,338.84 points, decreased by 27.59 points or 0.11%. The Standard & Poor’s 500 Index closed at 2,737.76 points, decreased by 6.03 points or 0.22%. The Nasdaq index closed at 7,273.08 points, decreased by 18.51 points or 0.25%.
  • On the eve of the meeting between Trump and Xi Jinping, Trump hinted that it is expected the US may reach a trade agreement with China, which raised the expectation that the trade war will be eased.
  • The minutes of the Federal Reserve meeting showed that Fed officials believe the real economic growth is similar or even stronger than the expectation, the Fed may raise the interest rate again soon, but they are also prepared for a more flexible interest rate plan in the future.
  • The UK’s FTSE 100 index closed at 7,038.95 points, increased by 34.43 points or 0.49%. The Frankfurt DAX index closed at 11,298.23 points, decreased by 0.65 points or 0.01%. The French CAC40 index closed at 5,006.25 points, increased by 23.01 points or 0.46%.
  • The European Central Bank said that the euro zone financial system can withstand the impacts bring from the Brexit issue. In addition, although thare are lots of uncertainty in the Brexit issue , the foreign demand for UK government bonds in October was still hit the three-year high.
  • Canadian Foreign Minister claimed that the United States, Canada and Mexico will sign the US-Mexico trade agreement on Friday, but the final version is still determining.

  • Japan’s Nikkei 225 index closed at 22,262.60 points, increased by 85.58 points or 0.39%. The yen closed at 113.360 against the US dollar, increased by 0.362%.
  • Japan’s Ministry of Economy, Trade and Industry announced that Japan’s retail sales rose for the fifth month in October, and rose 1.2% month-on-month, far exceeding market expectations of a 0.4% increase.

  • The Shanghai Composite Index closed at 2,567.44 points, decreased by 34.29 points or 1.32%. The Shanghai and Shenzhen 300 Index closed at 3,137.65 points, decreased by 41.28 points or 1.30%. The RMB closed at 6.946 against 1 US dollar, increased by 0.119%.
  • China will release the official manufacturing and non-manufacturing PMI for November today, which are expected to maintain the same level as last month. After a significant decline in October, it is significant to keep an close eye on the official manufacturing PMI in order to evaluate the economic performance.
  • From informed source, China plans to shut down small and medium-sized P2P platforms on a large scale, and regulators may also require large platforms to maintain loan balances at current levels and encourage them to gradually reduce lending.




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