iFund- Daily Market Commentary

2019-03-19 10:42
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17/1/2019

The EU says it is taking the possibility of a non-agreement to leave the European Union very seriously. The US Treasury Secretary Nuchin reported that pushed to lower tariffs on China, which the news once triggered market turmoil, but the US Treasury quickly denied it. The Chinese Ambassador to Canada has warned Canada that there will be consequences if Canada tries to boycott Huawei.

  • The Dow Jones Industrial Average closed at 24,370.10 points, increased by 162.94 points or 0.67%. The Standard & Poor’s 500 Index closed at 2,635.96 points, increased by 19.86 points or 0.76%. The Nasdaq index closed at 7,084.46 points, increased by 49.77 points or 0.71%.
  • Trump told the Speaker of the House of Representatives Pelosi that her trip was postponed because of the government lockout. In addition, the US State Department requires employees to return to work during the government lockout.
  • According to the Wall Street Journal, US Finance Minister Nuchin supported measures to lower tariffs on Chinese products to appease the financial market and promote negotiations with Beijing. However, the US Treasury quickly denied this.

  • The UK’s FTSE 100 index closed at 6,834.92 points, decreased by 27.76 points or 0.40%. The Frankfurt DAX index closed at 10,918.62 points, decreased by 12.62 points or 0.12%. The French CAC40 index closed at 4,794.37 points, decreased by 16.37 points or 0.34%.
  • The EU says it is taking the possibility of a non-agreement to leave the European Union very seriously. Theresa May, the British Prime Minister cancelled the trip to Davos because of Brexit negotiation.
  • The EU’s Brexit chief negotiator said that if the UK changes the Brexit red line, the EU will act immediately.
  • Japan’s Nikkei 225 index closed at 20,402.27 points, decreased by 40.48 points or 0.20%. The yen closed at 108.820 against the US dollar, decreased by 0.037%.
  • Japan’s Ministry of Economy, Trade and Industry announced that after seasonal adjustment, the index of Japan’s third industry activity fell 0.3% month-on-month to 106.6 in November, which the decline was less than market expectations of 0.6%.
  •  The Shanghai Composite Index closed at 2,559.64 points, decreased by 10.78 points or 0.42%. The Shanghai and Shenzhen 300 Index closed at 3,111.42 points, decreased by 17.23 points or 0.55%. The RMB closed at 6.770 against 1 US dollar, decreased by 0.148%.
  • China will release fourth-quarter GDP data at 10:00 a.m. of  Beijing time next Monday. According to Bloomberg’s survey of economists, GDP growth of 6.4% year-on-year will be the slowest growth rate since the beginning of 2009.
  • The Chinese Ministry of Commerce confirmed that the National Deputy Prime Minister Liu He will go to the US to conduct economic and trade negotiations during on January 30-31.


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