iFund- Daily Market Commentary

2019-04-04 01:18
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3/4/2019

The White House chief economic adviser claimed that the Sino-US trade negotiations have made progress. It is reported that the United States has set a goal for China that China should fulfill its trade and market access commitments before 2025. And the date of the meeting between Xi Jinping and Trump would be announced as early as Thursday. The British Parliament passed the bill to prevent Hard Berxit. Prime Minister Theresa May and the leaders of Labour Party agreed to have further discussions to break the deadlock.

  • The Dow Jones Industrial Average closed at 26,218.13 points, increased by 39.00 points or 0.15%. The Standard & Poor’s 500 Index closed at 2,873.40 points, increased by 6.16 points or 0.21%. The Nasdaq index closed at 7,895.55 points, increased by 46.86 points or 0.60%.
  • It is reported that the United States has set a goal for China that China should fulfill its trade and market access commitments before 2025.
  • It is reported that Trump’s government officials are studying the option of closing the US-Mexico border, and they also are discussing the possibility of closing some or all of the selected ports of entry.
    • The UK’s FTSE 100 index closed at 7,418.28 points, increased by 27.16 points or 0.37%. The Frankfurt DAX index closed at 11,954.40 points, increased by 199.61 points or 1.70%. The French CAC40 index closed at 5,468.91 points, increased by 45.44 points or 0.84%.
    • The British Parliament passed a bill to prevent Hard Brexit on Wednesday. And before the vote, British Prime Minister Theresa May and Labor Party leader Corbin agreed to ignore the political differences and work together to resolve the Brexit crisis.
    • The central bank governors of Germany and France jointly called on European leaders to put more efforts on integrating capital markets and strengthening the region’s ability to withstand economic shocks.
    • Japan’s Nikkei 225 index closed at 21,713.21 points, increased by 207.90 points or 0.97%. The yen closed at 111.510 against the US dollar, decreased by 0.135%.
    • According to Nikkei/Markit data, after the seasonal adjustment, Japan’s service industry purchasing managers’ index (PMI) dropped from 52.3 to 52 in February.
    • The Shanghai Composite Index closed at 3,216.30 points, increased by 39.47 points or 1.24%. The Shanghai and Shenzhen 300 Index closed at 4,022.16 points, increased by 50.88 points or 1.28%. The RMB closed at 6.708 against 1 US dollar, increased by 0.192%.
    • The issue of China’s private enterprises guarantee mutual insurance have become more serious, causing the potential debt crisis. And it is surprise to discover that there are companies announce bankruptcy together in some regions.
    • Informed person claimed that China has embarked on the list of official projects to avoid the abuse use of the “Belt and Road” label. Some projects use this name unrestricted, resulting in reputation damage in abroad.






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