iFund- Daily Market Commentary

2019-03-28 01:12
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27/3/2019

The British parliament rejected all eight Brexit options, and Teresa May promised to resign as prime minister if the Conservatives support her Brexit agreement. On the other hand, the Northern Ireland Democratic Unity Party has indicated that it will not support the agreement. The new round of trade negotiations between China and the United States will start in Beijing today, which there is only a broad consensus on the exchange rate issue. It is not realistic to expect the square agreement.

  • The Dow Jones Industrial Average closed at 25,625.59 points, decreased by 32.14 points or 0.13%. The Standard & Poor’s 500 Index closed at 2,805.37 points, decreased by 13.09 points or 0.46%. The Nasdaq index closed at 7,643.38 points, decreased by 48.14 points or 0.63%.
  • US Secretary of State Pompeo said that Trump’s priority of 2020 fiscal year budget  is to boycott the regional influence of China and Russia, promoted denuclearization in North Korea.
  • According to a Bloomberg survey, economists expect the US to adjust its fourth-quarter GDP growth rate from an initial 2.6% to a minimum of 1.8% on Thursday.
    • The UK’s FTSE 100 index closed at 7.194.19 points, decreased by 2.10 points or 0.03%. The Frankfurt DAX index closed at 11,419.04 points, decreased by 0.44 points or 0.00%. The French CAC40 index closed at 5,301.24 points, decreased by 6.14 points or 0.12%.
    • Theresa May promised that she would resign as prime minister if the Conservative Party supports her Brexit agreement. It is reported that Boris Johnson and other Conservative Party members expressed their willingness to make concessions, but the Northern Ireland Democratic Unity Party said it would not support the agreement.
    • Villeroy, the European Central Bank official said that the Euro zone economy is slowing but not a recession. The central bank hopes that the economic situation will improve in 2019, but if the situation worsens, there is still a necessary response tool.
    • Japan’s Nikkei 225 index closed at 21,378.73 points, decreased by 49.66 points or 0.23%. The yen closed at 110.310 against the US dollar, increased by 0.054%.
    • Japan’s Chain Store Association (JCSA) data showed that Japan’s supermarket sales in February this year fell for two months, but the monthly decline narrowed to 12.4% (previous value decreased by 15.9%).

  • The Shanghai Composite Index closed at 3,022.72 points, increased by 25.62 points or 0.85%. The Shanghai and Shenzhen 300 Index closed at 3,743.39 points, increased by 42.95 points or 1.16%. The RMB closed at 6.724 against 1 US dollar, decreased by 0.161%.
  • According to informed sources, the China Securities Industry Association requires brokers to self-investigate underwriting of convertible bonds and study the establishment of investor blacklists.
  • Zhang Yansheng, a member of the Academic Committee of the National Development and Reform Commission, said that China and the United States may reach a trade agreement in the near future, but the conflict between the two countries may last for many years.



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