iFund- Daily Market Commentary

2019-03-20 02:28
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19/3/2019

US trade negotiator Wright Heze and finance minister Mnuchin will visit Beijing next week. It is reported that the EU may require the British Prime Minister to decide whether to extend the Brexit deadline to 2020 by mid-April. The Fed will announce the interest rate decision at 2 pm local time on Wednesday, and there will be sit tight without suspense.

  • The Dow Jones Industrial Average closed at 25.887.38 points, decreased by 26.72 points or 0.10%. The Standard & Poor’s 500 Index closed at 2,832.57 points, decreased by 0.37 points or 0.01%. The Nasdaq index closed at 7,723.95 points, increased by 9.47 points or 0.12%.
  • It is reported that trade negotiator Wright Heze and finance minister Mnuchin will visit Beijing in the week of March 25 to hold high-level talks.
  • The Fed will announce the interest rate decision at 2 pm local time on Wednesday, and there will be sit tight without suspense. Investors will pay more attention to understanding how to be patient with the interest rate, how to treat the new bitmap, and the position for inflation target and the table of the decision-makers.
    • The UK’s FTSE 100 index closed at 7,324.00 points, increased by 24.81 points or 0.34%. The Frankfurt DAX index closed at 11,788.41 points, increased by 131.35 points or 1.13%. The French CAC40 index closed at 5,425.90 points, increased by 13.07 points or 0.24%.
    • According to sources, the EU may tell British Prime Minister Theresa May that it must decide whether to extend the Brexit deadline to 2020 by mid-April, or UK will face the risk of no agreement to be out of the European Union after three months.
    • Vice-Chairman of the European Commission said that it is premature to conclude that the EU-US trade negotiations are doomed to fail. The two sides are discussing at several levels, and eventually the EU may reach a certain agreement with the United States on trade issues.
    • Japan’s Nikkei 225 index closed at 21,566.85 points, decreased by 17.65 points or 0.08%. The yen closed at 111.220 against the US dollar, increased by 0.234%.
    • Japan’s Ministry of Economy, Trade and Industry announced that after seasonal adjustment, Japan’s industrial production index in January was increased by 0.3 percentage,  fell by 3.4% month-on-month (previous value continued to drop by 0.1%), which is still the worst since January last year.

  • The Shanghai Composite Index closed at 3,090.98 points, decreased by 5.44 points or 0.18%. The Shanghai and Shenzhen 300 Index closed at 3,833.96 points, decreased by 17.79 points or 0.46%. The RMB closed at 6.713 against 1 US dollar, increased by 0.018%.
  • China Securities Regulatory Commission said that should accurately and effectively handle key risks and study new measures for reform and opening up of the capital market.
  • China’s top debt managers still focus on convertible bonds with great passion. According to Bloomberg data, return on bond funds of E Fund has returned 13% so far, and heavyweight convertible bonds outperformed 98% of peers.




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