iFund- Daily Market Commentary

2019-03-19 10:44
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It id the second day of the Sino-US economic and trade negotiation. US Commerce Secretary Ross said that China and the United States have a great chance to reach a reasonable trade agreement. The shutdown of US government is still difficult to resolve, and Vice President Burns said that Trump has not yet decided whether to declare a national emergency over immigration, to allow him to build a wall on America’s southern border.  Atlanta Fed President Bostic expects to raise interest rates only once in this year.

  • The Dow Jones Industrial Average closed at 23,531.35 points, increased by 98.19 points or 0.42%. The Standard & Poor’s 500 Index closed at 2,549.69 points, increased by 17.75 points or 0.70%. The Nasdaq index closed at 6,823.47 points, increased by 84.61 points or 1.26%.
  • The Sino-US economic and trade negotiation entered into the second day. It is reported that Chinese Vice Premier Liu He attended the first day of the talks. US Secretary of Commerce Ross said that China and the United States have great opportunities to reach a reasonable trade agreement.
  • US Vice President Burns said that Trump has not yet decided to declare a national emergency. Trump will deliver a televised speech on Tuesday night during the prime time to talk about the border “crisis” and will travel to the US-Mexico border within this week.

  • The UK’s FTSE 100 index closed at 6,810.88 points, decreased by 26.54 points or 0.39%. The Frankfurt DAX index closed at 10,747.81 points, decreased by 19.88 points or 0.18%. The French CAC40 index closed at 4,719.17 points, decreased by 17.95 points or 0.38%.
  • A British Prime Minister spokesperson said that Theresa May is preparing a new cabinet committee to prepare for the Brexit; the government will make a decision on the Brexit agreement after the vote on Wednesday.
  • According to the Sentix survey data, the investor confidence index in the euro zone fell to minus 1.5 in January this year, which is the lowest level since December 2014, but it is still better than the market expectation of minus 2.0.

  • Japan’s Nikkei 225 index closed at 20,038.97 points, increased by 477.01 points or 2.44%. The yen closed at 108.350 against the US dollar, decreased by 0.351%.
  • According to data from the Bank of Japan, the growth rate of Japan’s base currency is slowed down from 6.1% to 4.8%, to 497.0034 trillion yen.
  • The Shanghai Composite Index closed at 2,533.09 points, increased by 18.22 points or 0.72%. The Shanghai and Shenzhen 300 Index closed at 3,054.30 points, increased by 18.43 points or 0.61%. The RMB closed at 6.853 against 1 US dollar, increased by 0.196%.
  • China’s foreign exchange deposits increased slightly by 11 billion U.S. dollars in December, and the downward trend for the whole year is expected to be continued in 2019.
  • Taiwan’s exports value fell for two consecutive months, the value in December is 3% lower than from the same period of last year.

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