British Prime Minister Theresa May won a vote of confidence with a slight advantage. It is reported that the EU may be willing to delay the Brexit deadline until the second half of this year. The Fed’s Beige Book shows that most regions maintain a moderate growth, but there have been signs of a slowdown in recent weeks. Li Keqiang, the Chinese Premier, called for the use of macro-policy tools to implement inclusive and structural tax cuts and fees.
- The Dow Jones Industrial Average closed at 24,207.16 points, increased by 141.57 points or 0.59%. The Standard & Poor’s 500 Index closed at 2,616.10 points, increased by 5.80 points or 0.22%. The Nasdaq index closed at 7,034.69 points, increased by 10.86 points or 0.15%.
- The Fed’s Beige Book shows that most regions maintain moderate growth, but in recent weeks, the still strong US economy has shown signs of slowing down when the optimistic mood has declined.
- It is reported that Trump is expected to meet with the nuclear negotiator of North Korea Kim Young-Cheol in Washington this week. Kim Young-Cheol will meet with Secretary of State Pompeo on Friday, suggesting that the two leaders will soon hold a second summit.
- The UK’s FTSE 100 index closed at 6,862.68 points, decreased by 32.34 points or 0.47%. The Frankfurt DAX index closed at 10,931.24 points, increased by 39.45 points or 0.36%. The French CAC40 index closed at 4,810.74 points, increased by 24.57 points or 0.51%.
- British Prime Minister Theresa May won a vote of confidence with a slight advantage. It is reported that the EU requires May to fundamentally reconsider the British red line. The EU is willing to delay the Brexit deadline until the second half of this year.
- Villeroy de Galhau, the European Central Bank official said that the European Central Bank can only gradually withdraw from the stimulus policy, the central bank should be pragmatic in view of economic uncertainty.
- Japan’s Nikkei 225 index closed at 20,442.75 points, decreased by 112.54 points or 0.55%. The yen closed at 108.780 against the US dollar, decreased by 0.257%.
- The former chief economist of the Japanese central bank, Hayakawa Hideo expects the Yen against the USD may rise to 80 in the next recession. Perhaps the fastest Japanese economy will enter the recession this Autumn.
- The Shanghai Composite Index closed at 2,570.42 points, increased by 0.08 points or 0.00%. The Shanghai and Shenzhen 300 Index closed at 3,128.65 points, increased by 0.66 points or 0.02%. The RMB closed at 6.760 against 1 US dollar, increased by 0.018%.
- Chinese Premier Li Keqiang required the use of macro-policy tools to implement inclusive and structural tax cuts and fees, which encourage domestic consumption and develop the advantages of a strong domestic market.
- Xu Zhong, director of the Research Bureau of the People’s Bank of China, said that it needs to adapt to the moderate trend of M2 and social financing, and should rely more on price regulation to improve the quality of economic growth.