iFund- Daily Market Commentary

2019-03-19 10:37
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20/2/2019

The minutes of the Fed’s January meeting set clear keynote of the dovish, and policymakers are considering terminating to shrink the balance sheet this year, but are not sure if they will raise interest rates. Trump said that if it is unable to reach a new trade agreement with the EU, it will impose tariffs on imported cars from the EU. Chinese Vice Premier Liu He will hold a seventh round of high-level economic and trade consultations with US trade representatives and finance ministers in Washington on Thursday.

  • The Dow Jones Industrial Average closed at 25,954.44 points, increased by 63.12 points or 0.24%. The Standard & Poor’s 500 Index closed at 2,784.70 points, increased by 4.94 points or 0.18%. The Nasdaq index closed at 7,489.07 points, increased by 2.30 points or 0.03%.
  • Trump said that if it is unable to reach a new trade agreement with the EU, it will impose tariffs on imported cars from the EU, and negotiations with EU representatives are difficult.
  • The minutes of the Fed meeting showed that policymakers generally agree that considering terminating to shrink the balance sheet this year, but not sure whether this year will raise interest rates. Officials believe there is reason to be patient with monetary policy.
  • The UK’s FTSE 100 index closed at 7,228.62 points, increased by 49.45 points or 0.69%. The Frankfurt DAX index closed at 11,401.97 points, increased by 92.76 points or 0.82%. The French CAC40 index closed at 5,195.95 points, increased by 35.43 points or 0.69%.
  • The default rating of the UK’s AA-rated long-term issuer was placed on the negative watchlist by Fitch, and Fitch said that the uncertainty of the Brexit results has increased.
  • Theresa May, the British Prime Minister and European Commission President Juncker published a joint statement after a meeting, saying that the two sides had constructive talks and needed appropriate legal protection on the Irish border reserve plan.
  • Japan’s Nikkei 225 index closed at 21,431.49 points, increased by 128.84 points or 0.60%. The yen closed at 110.780 against 1 US dollar, increased by 0.027%.
  • The statistics of Japan’s franchise chain association (JFA) show that in January 2019, the same-store sales of convenience stores rose for three months, but the annual growth rate slowed again to 0.8% (previous value continued to rise 1.2%), reported 792.217 billion Japanese yen.
  • The Shanghai Composite Index closed at 2,761.22 points, increased by 5.57 points or 0.20%. The Shanghai and Shenzhen 300 Index closed at 3,451.93 points, increased by 12.32 points or 0.36%. The RMB closed at 6.720 against 1 US dollar, increased by 0.677%.
  • Li Keqiang, the Chinese Premier said that it is determined not to engage in strong stimulus policies, financial institutions should make more loans be more convenient to the real economy and small and medium-sized enterprises, especially to increase the direction of medium and long-term loans.
  • Chinese Vice Premier Liu He will hold the seventh round of high-level economic and trade consultations with US trade representatives and finance ministers in Washington on Thursday.



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