iFund- Daily Market Commentary

2019-03-19 10:38
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It is reported that the progress of the trade negotiations between the United States and China in Beijing is very small, and there are still great differences on the Chinese structural reform issue. The White House announced that Trump will sign the expense agreement in order to prevent the government from shutting down again, and he will announce a state of emergency to raise more funds for building border wall. US retail sales in December hit the biggest decline within the past nine years, it implies that economic growth is slowing down.

  • The Dow Jones Industrial Average closed at 25,439.39 points, decreased by 103.88 points or 0.41%. The Standard & Poor’s 500 Index closed at 2,745.73 points, decreased by 7.30 points or 0.27%. The Nasdaq index closed at 7,426.96 points, increased by 6.58 points or 0.09%.
  • According to informed sources, the trade negotiations between the US and China in Beijing have just made a little progress, and there are still great differences on the China;s structural reform issue. It is reported that China believes that it is necessary for Trump and Xi Jinping to meet in order to reach an agreement.
  • The US Senate passed a border security bill in a bid to avoid government shutdown, and the House of Representatives will vote on it. The White House announced that Trump will sign an expense agreement and announce a state of emergency to raise more funds for building border wall.
  • The UK’s FTSE 100 index closed at 7,197.01 points, increased by 6.17 points or 0.09%. The Frankfurt DAX index closed at 11,089.79 points, decreased by 77.43 points or 0.69%. The French CAC40 index closed at 5,062.52 points, decreased by 11.75 points or 0.23%.
  • The British parliament rejected a Brexit motion suggested by Prime Minister Theresa May and refused to support her in consulting with the EU before reporting the latest progress to Parliament at the end of February.
  • The German economy was stagnant at the end of 2018, lagging behind most members of the euro zone. The continuing trade tensions imply that the German economic recovery may be weak.
  • Japan’s Nikkei 225 index closed at 21,139.71 points, decreased by 4.77 points or 0.02%. The yen closed at 111.040 against the US dollar, decreased by 0.306%.
  • Japan’s Cabinet Office announced that Japan’s initial gross domestic product (GDP) in the third quarter of this year increased by 0.3% from the previous month, but it was lower than the market’s expectation of a 0.4% increase.
  • The Shanghai Composite Index closed at 2,719.70 points, decreased by 1.37 points or 0.05%. The Shanghai and Shenzhen 300 Index closed at 3,402.14 points, increased by 5.11 points or 0.15%. The RMB closed at 6.776 against 1 US dollar, decreased by 0.193%.
  • The National Bureau of Statistics of China will release the January’s inflation data today. The CPI growth is expected to be same as the December’s level, 1.9%. And the PPI growth is expected to be slow down for the seventh consecutive month.
  • The Chinese government has called for strengthening financial services for private enterprises, supporting the resolution of liquidity risks and implementing differentiated monetary credit support policies, with an aim of solving the problem of “do not dare to lend, not willing to lend, or can not lend” to private enterprises.

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