iFund- Daily Market Commentary

2019-03-19 10:36
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MSCI is going to increase the weight of China A Shares in MSCI Indexes.Kim-Trump nuclear talks ended with ‘no agreement’. However, the North Korean leader said he would continue to negotiate with Trump.

  • The Dow Jones Industrial Average closed at 25,916.00 points, down 69.16 points or 0.27%. The S&P 500 Index closed at 2,784.49 points, down 7.89 points or 0.28%. The Nasdaq index closed at 7,532.53 points, down 21.98 points or 0.29%.
  • It is reported that the United States is now preparing for the final Sino-US trade agreement, and the heads of the 2 countries may sign the agreement within a few weeks.
  • The Vice Chairman of the Federal Reserve said that due to moderate inflation, the Fed will remain patience in adjusting interest rates.

    • The UK’s FTSE 100 index closed at 7,074.73 points, down 32.47 points or 0.46%. The Frankfurt DAX index closed at 11,515.64 points, up 28.31 points or 0.25%. The French CAC40 index closed at 5,240.53 points, up 15.18 points or 0.29%.
    • The UK stated that even if the no-deal briexit happens, the Government will guarantee the right of citizens of the 27 EU countries to continue to live and work in the UK.
    • France’s GDP rose by 1.5% year-on-year in 2018, a slower growth rate than that in 2017.
    • Japan’s Nikkei 225 index closed at 21,385.16 points, down 171.35 points or 0.79%. The yen closed at 110.760 against the US dollar, down 0.289%.
    • The Ministry of Economy, Trade and Industry announced that after the seasonal adjustment, the initial value of Japan’s industrial production index in January 2019 fell 3.7% to 100.8.

  • The Shanghai Composite Index closed at 2,940.95 points, down 12.87 points or 0.44%. The Shanghai and Shenzhen 300 Index closed at 3,669.37 points, down 9.02 points or 0.25%. The RMB closed at 6.688 against 1 US dollar, down 0.112%.
  • China’s National Bureau of Statistics announced that hte official Manufacturing Purchasing Managers Index (PMI) in February recorded 49.2, lower than expected.
  • UBS estimates that the amount of funds flowing into China in 2019 because of MSCI and FTSE Russell inclusion will reach approximately $12.5 billion.

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