The British parliament vetoed the Hard Brexit option, implying that the Brexit may delay and UK may rehabilitate the Brexit agreement. The United States and Canada require the Boeing 737 Max 8 and Max 9 to be grounded. Trump is willing to meet with Xi Jinping. China will release the industrial, retail and investment data for January-February today. The growth rate of industrial added value is expected to slow down, and the recovery momentum is expected to continue.
- The Dow Jones Industrial Average closed at 25,702.89 points, increased by 148.23 points or 0.58%. The Standard & Poor’s 500 Index closed at 2,810.92 points, increased by 19.40 points or 0.69%. The Nasdaq index closed at 7,643.41 points, increased by 52.37 points or 0.69%.
- The US Federal Aviation Administration required the Boeing 737 Max 8 and Max 9 to be grounded. Canada also requested the Boeing 737 Max 8 to be grounded on Wednesday.
- US President Trump is willing to meet with Xi Jinping, saying that he is willing to arrange a meeting before or after the agreement is reached.
- The UK’s FTSE 100 index closed at 7,159.19 points, increased by 8.04 points or 0.11%. The Frankfurt DAX index closed at 11,572.41 points, increased by 48.24 points or 0.42%. The French CAC40 index closed at 5,306.38 points, increased by 36.13 points or 0.69%.
- The British Parliament voted the Hard Brexit option, which could have disastrous consequences for the British economy. It implies that the Brexit may delay and UK may rehabilitate the Brexit agreement.
- Coeure, European Central Bank official, claimed that Italy is in a technical recession, but will not pose a threat to the Eurozone.
- Japan’s Nikkei 225 index closed at 21,290.24 points, decreased by 213.45 points or 0.99%. The yen closed at 111.350 against the US dollar, decreased by 0.009%.
- Japan’s Ministry of Economy, Trade and Industry announced that Japan’s third industry activity index rose by 0.4% in November to 106.5, higher than the expectation of market of 0.3% decrease.
- The Shanghai Composite Index closed at 3,026.95 points, decreased by 33.36 points or 1.09%. The Shanghai and Shenzhen 300 Index closed at 3,724.19 points, decreased by 31.16 points or 0.83%. The RMB closed at 6.710 against 1 US dollar, increased by 0.025%.
- China will release data on industrial value added, retail and fixed asset investment for January-February today. It is expected that the recovery of investment started in mid-2018 may continue, but the economic slowdown and trade war are still dragging down the industrial output and consumption.
- China has raised the bad debt tolerance, with an aim to stimulate the lending to small and micro enterprises. The tolerance of non-performing loans has been relaxed to no more than 3 percentage of the loan non-performing rate.