Trump said that he will not meet with Xi Jinping before March 1. The White House economic adviser said that the Sino-US trade negotiations still have a long way to go, which has aggravated public concerns on the relationship between China and US, worrying that they could not reach an agreement during the 90-day trade truce.T he Bank of England kept interest rates unchanged and lowered its forecast on economic growth, saying that the damage brought from Brexit has increased. It is reported that the two parties in the United States are expected to reach a compromise on border security issues before Monday.
- The Dow Jones Industrial Average closed at 25,169.53 points, decrease by 220.77 points or 0.87%. The Standard & Poor’s 500 Index closed at 2,706.05 points, decrease by 25.56 points or 0.94%. The Nasdaq index closed at 7,288.35 points, decrease by 86.93 points or 1.18%.
- US President Trump said he will not meet with Chinese President Xi Jinping before March 1, but he added that the two sides may meet later.
- Fed Chairman Powell said that the US economy is in a good position, the unemployment rate is at a low level, and the inflation rate is about 2%.
- The UK’s FTSE 100 index closed at 7,093.58 points, decrease by 79.51 points or 1.11%. The Frankfurt DAX index closed at 11,022.02 points, decrease by 302.70 points or 2.67%. The French CAC40 index closed at 4,985.56 points, decrease by 93.49 points or 1.84%.
- British Prime Minister Theresa May failed to make a major breakthrough after meeting with EU officials in Brussels on Thursday. It is reported that May has asked the EU to set a time limit for the Irish backup plan, but EU officials have rejected the request.
- The Bank of England kept the benchmark interest rate unchanged at 0.75% as market expected. President Carney said that the uncertainty caused by Brexit has affected the economy.
- Japan’s Nikkei 225 index closed at 20,751.28 points, decrease by 122.78 points or 0.59%. The yen closed at 109.860 against the US dollar, decrease by 0.164%.
- According to data from the Cabinet Office of Japan, the initial value of leading indicators in Japan dropped from the previous value of 99.1 to 97.9 in December, hit the lowest level since October 2016, but it is similar with the market expectation.
- The China’s stock market closed since Lunar New Year holiday.
- Various financial institutes, such as Societe Generale, Citigroup and Morgan Stanley, are persuading Beijing of ways to make things easier to bet against Chinese stocks through a trading link with Hong Kong, such as clearances for block trades, Bloomberg reported.
- 2019 marks the 70th anniversary of the founding of the People’s Republic of China, as Xinhua News Agency quoted from Chinese President Xi Jinping. Besides, Xi also suggested that China shall continue to propel steady growth, facilitate reforms, adjust structures, improve livelihood and prevent risks.