At the time of Sino-US officials’ trade negotiations in Beijing, Kudlow, the White House’s chief economic adviser, said that the United States is prepared to have a long-term war with China. Negotiations do not depend on time, but on policy and implementation. The British Parliament will vote on the Brexit agreement on Friday, but it does not involve the future relationship between the EU and the UK. Both Labor Party leader Corbin and the Northern Ireland Democratic Unity Party have expressed their opposition.
- The Dow Jones Industrial Average closed at 25,717.46 points, increased by 91.87 points or 0.36%. The Standard & Poor’s 500 Index closed at 2,815.44 points, increased by 10.07 points or 0.36%. The Nasdaq index closed at 7,669.17 points, increased by 25.79 points or 0.34%.
- White House chief economic adviser, Kudlow, claimed that US is preparing to have negotiations with China for weeks or even months. Negotiations do not depend on time, but on policy and implementation.
- The Governor of the Federal Reserve Bank of New York lowered the worries of the recession and emphasized the flexibility of the Fed’s policy.
- The UK’s FTSE 100 index closed at 7,234.33 points, increased by 40.14 points or 0.56%. The Frankfurt DAX index closed at 11,428.16 points, increased by 9.12 points or 0.08%. The French CAC40 index closed at 5,296.54 points, decreased by 4.70 points or 0.09%.
- Speaker of the House of Commons of the United Kingdom said that the government will vote on the withdrawal of the EU agreement on Friday, but will not vote on the Brexit agreement that involves the future relationship between the EU and the UK.
- Corbin, the leader of the British opposition Labor Party, told Theresa May that he would not support her plan on Friday.
- Japan’s Nikkei 225 index closed at 21,033.76 points, decreased by 344.97 points or 1.61%. The yen closed at 110.330 against 1 US dollar, decreased by 0.018%.
- 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 2,994.94 points, decreased by 27.78 points or 0.92%. The Shanghai and Shenzhen 300 Index closed at 3,728.39 points, decreased by 15.00 points or 0.40%. The RMB closed at 6.731 against 1 US dollar, down 0.104%.
- Taking advantages from the government’s measures, ICBC’s 2018 profit and gross margin has improved. The net interest margin increased from 2.22% to 2.3%, and the non-performing loan ratio fell from 1.55% to 1.52%.
- The Wall Street Journal reported that China proposes to expand the access of foreign technology companies into the Chinese cloud computing market as part of the Sino-US negotiations.