iFund- Daily Market Commentary

2019-03-19 10:35
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The pound raised after the British government said it had secured changes from the European Union to strengthen the brexit agreement, which will be voted on by the House of Commons on Tuesday. The White House said that Trump has not yet finalized the date of the summit with Xi Jinping. And the Senate minority leader said that the weak US-China agreement should not be signed. Trump’s $4.7 trillion budget plan for fiscal year 2020 is expected to be blocked in Congress.

  • The Dow Jones Industrial Average closed at 25,650.88 points, increased by 200.64 points or 0.79%. The Standard & Poor’s 500 Index closed at 2,783.30 points, increased by 40.23 points or 1.47%. The Nasdaq index closed at 7,558.06 points, increased by 149.92 points or 2.02%.
  • White House spokesman Sanders said that US President Trump has not finalized the date of the trade summit with Chinese President Xi Jinping.
  • Trump’s $4.7 trillion budget plan for fiscal year 2020 is expected to be blocked in Congress.
    • The UK’s FTSE 100 index closed at 7,130.62 points, increased by 26.31 points or 0.37%. The Frankfurt DAX index closed at 11,543.48 points, increased by 85.64 points or 0.75%. The French CAC40 index closed at 5,265.96 points, increased by 34.74 points or 0.66%.
    • The British government said it has obtained legally binding changes from the EU, will strengthen and improve the Brexit agreement, which will vote on the Brexit agreement on Tuesday.
    • The European Parliament plans to adopt a draft resolution on Tuesday, emphasizing concerns about China’s threat to telecommunications security.
    • Japan’s Nikkei 225 index closed at 21,125.09 points, increased by 99.53 points or 0.47%. The yen closed at 111.250 against the US dollar, decreased by 0.072%.
    • The Japan Machine Tool Builders’ Association (JMTBA) announced that Japan’s initial value of machinery tools orders in February 2019 continued to expand to 29.3% (previous value fell of 18.8%) and recorded a year-on-year decline for the fifth consecutive month.

  • The Shanghai Composite Index closed at 3,026.99 points, increased by 57.13 points or 1.92%. The Shanghai and Shenzhen 300 Index closed at 3,729.95 points, increased by 72.37 points or 1.98%. The RMB closed at 6.724 against 1 US dollar, decreased by 0.042%.
  • According to a review by Bloomberg, the size of the implicit debt of local governments in China ranges from 30 trillion yuan to 40 trillion yuan.
  • According to the China Securities Journal, the vice chairman of the China Securities Regulatory Commission, Yan Qingmin, said that the issue of whether to hold the proportion of foreign-invested A-shares should be balanced. The overall direction is to continue to promote openness and expand the share-to-equity ratio.

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