iFund- Daily Market Commentary

2019-03-22 01:21
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21/3/2019

The EU delayed the Brexit date to April 12 that was temporarily avoided the cliff-type Brexit. The Bank of England kept interest rates unchanged and more companies began implementing emergency measures to deal with disorderly Brexit. The yield curve of the US bond  is close to the upside, and traders are concerned about the trend.

  • The Dow Jones Industrial Average closed at 25,962.51 points, increased by 216.84 points or 0.84%. The Standard & Poor’s 500 Index closed at 2,854.88 points, increased by 30.65 points or 1.09%. The Nasdaq index closed at 7,838.96 points, increased by 109.99 points or 1.42%.
  • As the US 10-year bond yield fell below 2.5%, the difference between the three-month and ten-year Treasury yields narrowed to a lowest level since 2007.
  • The number of initial jobless claims in US fell to a four-week low, which was more than expected, indicating that the job market has tightened further after the government’s lockout.
    • The UK’s FTSE 100 index closed at 7,355.31 points, increased by 64.30 points or 0.88%. The Frankfurt DAX index closed at 11,549.96 points, decreased by 53.93 points or 0.46%. The French CAC40 index closed at 5,378.85 points, decreased by 3.81 points or 0.07%.
    • The EU delayed the Brexit date to April 12 to prevent a non-agreement of Brexit next week.
    • The Bank of England kept interest rates unchanged and maintained a wait-and-see mode in terms of policy.
    • Stock market of Japan is closed today. The yen closed at 110.630 against the US dollar, increased by 0.795%.
    • Japan Machine Tool Builder’s Association (JMTBA) announced that Japan’s final value of machinery tools in February this year confirmed that the year-on-year decline continued to expand to 29.3% (previous value fell 18.8%), and has recorded a year-on-year decline for the fifth consecutive month.

  • The Shanghai Composite Index closed at 3,101.46 points, increased by 10.82 points or 0.35%. The Shanghai and Shenzhen 300 Index closed at 3,836.89 points, increased by 1.45 points or 0.04%. The RMB closed at 6.692 against 1 US dollar, increased by 0.040%.
  • According to a quarterly survey by Bloomberg, the growth trend of A-share are expected to turn slower, and the second quarter’s gains may slow down. The median forecast for the Shanghai Composite Index at the end of the second quarter is 3,200 points.
  • The Shanghai Stock Exchange began to set up the Science and Technology Creation Committee and the Advisory Committee to announce the list of candidates. According to the Securities Daily report, the list of IPO companies in the science and technology sector will be pre-disclosed today.



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