iFund- Daily Market Commentary

2019-03-19 10:38
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13/2/2019

China and the United States will have a two-day trade negotiation in Beijing today. Trump said that trade negotiations have made a good progress. Besides, it is reported that Trump may sign the border security agreement to avoid the government shutdown and he may seek funds to build walls by other ways. The inflation rate in the United States and the United Kingdom was lower than expected, further supporting the central banks to suspend its interest rate hikes.

  • The Dow Jones Industrial Average closed at 25,543.27 points, increased by 117.51 ​​points or 0.46%. The Standard & Poor’s 500 Index closed at 2,753.03 points, increased by 8.30 points or 0.30%. The Nasdaq index closed at 7,420.38 points, increased by 5.76 points or 0.08%.
  • Trump said that the trade negotiations with China have made a good progress, and China has shown great respect to the United States.
  • Trump said that US government shutdown is “terrible” and he will decide whether to support the agreement after studying the compromise security legislation of the two parties. Also, it is reported that Trump may sign the agreement to avoid US government shutdown, and he may use his administrative power to gain wall construction funds.
  • The UK’s FTSE 100 index closed at 7,190.84 points, increased by 57.70 points or 0.81%. The Frankfurt DAX index closed at 11,167.22 points, increased by 41.14 points or 0.37%. The French CAC40 index closed at 5,074.27 points, increased by 17.92 points or 0.35%.
  • The UK’s inflation rate has been below the Bank of England’s target, 2%, for the first time since 2017, supporting the decision of interest rate hike suspension.
  • According to informed sources, British Prime Minister Theresa May and the EU are preparing to have a high-risk negotiation that might determine whether the UK will leave the EU without any agreement. May and European leaders may meet in the Brussels summit on March 21 , and EU may make a concession on that day.
  • Japan’s Nikkei 225 index closed at 21,144.48 points, increased by 280.27 points or 1.34%. The yen closed at 110.700 against the US dollar, decreased by 0.190%.
  • According to data from the Bank of Japan, Japan’s Corporate  Good Price Index (CGPI) fell for three months in January 2019, declined by 0.6% monthly, which is much higher than the market expectations of a 0.2% drop.
  • The Shanghai Composite Index closed at 2,721.07 points increased by 49.17 points or 1.84%. The Shanghai and Shenzhen 300 Index closed at 3,397.03 points, increased by 66.69 points or 2.00%. The RMB closed at 6.762 against 1 US dollar, increased by 0.155%.
  • China will release the trade data for January on Thursday. It is expected that the decline in exports in US dollars will narrow slightly while the import materials may drop sharply. The trade surplus is expected to shrink from December.
  • Japp Meijer, Huawei network security officer and privacy officer, claimed that company’s sales haven’t slowed down due to security concerns, but if the current situation continues for a long period, it will certainly affect business development at some point.








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