iFund- Daily Market Commentary

2019-04-24 01:09
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The US stock market rebounded to the highest record with the company’s good performance, and the technology stocks led the gains. The Brexit Agreement will be submitted to Parliament next week. Unless the Prime Minister makes concessions on the Brexit red line, the Labour Party is unlikely to support the agreement. The People’s Bank of China denied rumors of targeted downgrades of rural financial institutions and said there is no new targeted RRR cutout policy.

    • The Dow Jones Industrial Average closed at 26,656.39 points, increased by 145.34 points or 0.55%. The Standard & Poor’s 500 Index closed at 2,933.68 points, increased by 25.71 points or 0.88%. The Nasdaq index closed at 8,120.82 points, increased by 105.56 points or 1.32%.
    • The US stock market hit a record high in the company’s performance, and the technology stocks led the gains. According to Bloomberg data, there were more than 288 million US dollars transactions in pilot information technology ETF on Tuesday morning, indicating that some people bet on technology stocks.
    • Trump said that the EU’s tariff on Harley’s motorcycles is too unfair, and the US will take reciprocal action.
    • The UK’s FTSE 100 index closed at 7,523.07 points, increased by 63.19 points or 0.85%. The Frankfurt DAX index closed at 12,235.51 points, increased by 13.12 points or 0.11%. The French CAC40 index closed at 5,591.69 points, increased by 11.31 points or 0.20%.
    • British Prime Minister Theresa May may submit a Brexit Agreement to Parliament next week. It is reported that unless the Prime Minister makes concessions on the Brexit red line, the Labor Party is unlikely to support the Brexit Agreement.
    • The Financial Times reported that the asset management companies of Deutsche Bank and UBS are conducting serious merger negotiations.
    • Japan’s Nikkei 225 index closed at 22,259.74 points, increased by 41.84 points or 0.19%. The yen closed at 111.870 against the US dollar, increased by 0.045%.
    • Japan Machine Tool Builders’ Association (JMTBA) announced that final value of Japan’s machinery tool in March confirmed a year-on-year decline to narrow slightly to 28.5% (previous value continued to fall 29.3%), however, which has recorded a year-on-year decline for the sixth consecutive month.

    • The Shanghai Composite Index closed at 3,198.59 points, decreased by 16.45 points or 0.51%. The Shanghai and Shenzhen 300 Index closed at 4,019.01 points, decreased by 6.60 points or 0.16%. The RMB closed at 6.719 against 1 US dollar, decreased by 0.119%.
    • A person from the People’s Bank of China said that the market’s rumors that the central bank may have targeted downgrades of some rural financial institutions since Thursday are not true. Also, the central bank does not have a new targeted RRR cut policy.
    • A Chinese foreign ministry spokesperson said that China has made representations to the United States on ending the sanctions waiver of Iranian oil buyers. The US sanctions will inevitably exacerbate the turmoil in the global market.

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