iFund- Daily Market Commentary

2019-03-19 10:38
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The prospects for Sino-US trade negotiations have improved, and Trump is open to postponing the trade deadline. Trump is not satisfied with the wall border’s agreement that reached by the two parties, but he expressed his willingness to discuss and he claimed that he does not believe the US government will stop again. One of the Nobel Prize winner predicted that the risk of a recession in the United States is rising, but the chairman of the Federal Reserve Board, Powell, said that the economy is still strong, but the degree of perception varies from place to place.

  • The Dow Jones Industrial Average closed at 25,425.76 points, increased by 372.65 points or 1.49%. The Standard & Poor’s 500 Index closed at 2,744.73 points, increased by 34.93 points or 1.29%. The Nasdaq index closed at 7,414.62 points, increased by 106.71 points or 1.46%.
  • Trump said that if China and the United States are close to reaching an agreement, he is open to delaying the trade truce deadline to avoid raising tariffs on China.
  • Trump is not satisfied with the wall border’s agreement that reached by the two parties, but he will discuss will hold a meeting on Tuesday to discuss the concern and he claimed that he does not believe the US government will stop again.

  • The UK’s FTSE 100 index closed at 7,133.14 points, increased by 4.03 points or 0.06%. The Frankfurt DAX index closed at 11,126.08 points, increased by 111.49 points or 1.01%. The French CAC40 index closed at 5,056.35 points, increased by 41.88 points or 0.84%.
  • It is reported that British Prime Minister Theresa May’s EU affairs adviser said that May plans to submit the Brexit plan to the parliament for voting at the last moment, with an aim to force British to choose between her Brexit plan and long-term delay in Brexit.
  • The National Bureau of Statistics of the United Kingdom announced that the UK’s industrial production fell by 0.5% month-on-month, which was worse than market expectations of 0.1% increase.
  • Japan’s Nikkei 225 index closed at 20,864.21 points, increased by 531.04 points or 2.61%. The yen closed at 110.490 against the US dollar, decreased by 0.272%.
  • Japan’s Ministry of Economy, Trade and Industry announced that Japan’s third-industry activity index fell for two months in December last year, but the monthly decline narrowed slightly from 0.4% to 0.3%, to 106.2.
  • The Shanghai Composite Index closed at 2,671.89 points, increased by 18.8 points or 0.68%. The Shanghai and Shenzhen 300 Index closed at 3,330.34 points, increased by 23.87 points or 0.72%. The RMB closed at 6.773 against 1 US dollar, increased by 0.257%.
  • China aims to revive the stock market by deregulation , and the China GEM index soared by 9% in the past three trading days. However, critics worry that excessive deregulation may encourage high-frequency trading that has caused two serious bubbles in the past decade.
  • US Senator Rubio proposed to boycott China’s economic development policy, “Made in China 2025”,  by restricting China’s investment in the US and taxing it, as well as tariffs on goods produced by the industry supported by the “Made in China 2025” policy.

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