iFund- Daily Market Commentary

2019-03-19 10:37
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It is reported that China proposed to increase the import of US$30 billion of US agricultural products in trade negotiations. EU officials revealed that the EU expects British Prime Minister Theresa May to ask for a three-month delay in Brexit. The fourth-quarter monetary policy report of the People’s Bank of China suggested that targeted stimulus remained a priority.

  • The Dow Jones Industrial Average closed at 25,850.63 points, decreased by 103.81 points or 0.40%. The Standard & Poor’s 500 Index closed at 2,774.88 points, decreased by 9.82 points or 0.35%. The Nasdaq index closed at 7,459.71 points, decreased by 29.36 points or 0.39%.
  • According to sources, Trump plans to meet with Liu He, China’s chief trade negotiator, on Friday afternoon.
  • White House announces that if North Korea promotes complete denuclearization, Trump will work hard to ensure that North Korea is provided with economic development options. The summit between Trump and Kim Jong-un next week is reported to exclude discussions on the withdrawal of the US military and the conclusion of a peace agreement.
  • The UK’s FTSE 100 index closed at 7,167.39 points, decreased by 61.23 points or 0.85%. The Frankfurt DAX index closed at 11,423.28 points, increased by 21.31 points or 0.19%. The French CAC40 index closed at 5,196.11 points, increased by 0.16 points or 0.00%.
  • According to EU officials, the EU is predicting that British Prime Minister Theresa May may be forced to request a three-month delay in Brexit. The EU believes this is a technical delay that will give the British Parliament time to pass the necessary legislation for Brexit.
  • British Chancellor of the Exchequer Hammond said that House of Commons may take a key vote on the Brexit agreement next week.
  • Japan’s Nikkei 225 index closed at 21,464.23 points, increased by 32.74 points or 0.15%. The yen closed at 110.740 against the US dollar, increased by 0.036%.
  • Japan’s Work Machinery Industry Association (JMTBA) announced that Japan’s final value of machinery tools in January 2019 confirmed that the year-on-year decline continued to expand to 18.8% (previous value fell 18.3%), and has recorded a year-on-year decline for the fourth consecutive month.
  • The Shanghai Composite Index closed at 2,751.80 points, decreased by 9.42 points or 0.34%. The Shanghai and Shenzhen 300 Index closed at 3,442.71 points, decreased by 9.22 points or 0.27%. The RMB closed at 6.719 against 1 US dollar, increased by 0.016%.
  • The People’s Bank of China issued a fourth-quarter monetary policy report, stating that it will use a variety of monetary policy tools such as targeted RRR reduction, targeted medium-term lending facilities, re-lending, and rediscounting. Stabilizing monetary policy should be moderate tightening and easing to keep market interest rates at a reasonable and stable level.
  • Huawei claims that its equipment is the key to the UK’s 5G network. The UK authorities should decide whether to allow them to become suppliers based on the facts.

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