iFund- Daily Market Commentary

2019-06-14 01:15
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13/6/2019

In the absence of direct evidence, the United States accused Iran of being responsible for the attack on oil tankers near the entrance to the Persian Gulf. The Iranian side denied the accusations. The market is worried that the possibility of a conflict between the United States and Iraq will rise due to this issue. The White House economic adviser Kudlow warned China that if the president of China and the US do not meet in the G-20 summit, China may face consequences.

      • The Dow Jones Industrial Average closed at 26,106.77 points, up 101.94 points or 0.39%. The Standard & Poor’s 500 Index closed at 2,891.64 points, up 11.80 points or 0.41%. The Nasdaq index closed at 7,837.13 points, up 44.41 points or 0.57%.
      • The United States accused Iran of being responsible for the attack on two tankers at the entrance to the Persian Gulf, which Iranian officials denied. The oil tanker attack caused the market to worry that diplomatic efforts could not avoid the war between the United States and Iran.
      • White House economic adviser Kudlow warned China that Trump is still waiting for Chinese President Xi Jinping’s reply to the two-person meeting on trade issue. If Xi Jinping rejects the invitation, China may face consequences.

     

      • The UK’s FTSE 100 index closed at 7,368.57 points, up 0.95 points or 0.01%. The Frankfurt DAX index closed at 12,169.05 points, up 53.37 points or 0.44%. The French CAC40 index closed at 5,375.63 points, up 0.71 points or 0.01%.
      • Boris Johnson, who supported Brexit,  has secured the highest number of votes in the first MPs’ ballot to select the Conservative Party leader and next prime minister. This overwhelming advantage means that if he can avoid major mistakes, he will almost certainly be the two candidates to enter the finals.
      • According to data from the German Federal Statistical Office, the final value of the growth rate of  German Consumer Price Index (CPI) in May has slowed down rapidly, from a 2% rise in April to only a 1.4% increase, hit the lowest level since February last year.
      • Japan’s Nikkei 225 index closed at 21,032.00 points, down 97.72 points or 0.46%. The yen closed at 108.500 against the US dollar, down 0.138%.
      • Japan’s Ministry of Economy, Trade and Industry announced that after seasonal adjustment, Japan’s third-industry activity index ended its two consecutive months’s drop in April, with a monthly bombing of 0.8% to 107.3 (previously revised up only 0.2%), hitting the one year high, and also better than the market expectations of 0.4% rebound.
      • The Shanghai Composite Index closed at 2,910.74 points, up 1.36 points or 0.05%. The Shanghai and Shenzhen 300 Index closed at 3,685.39 points, down 5.71 points or 0.15%. The RMB closed at 6.922 against 1 US dollar, down 0.027%.
      • Li Junfeng, an official of the China Banking Regulatory Commission, said that it will increase the weight of risk-based capital benefits for small and micro enterprises from 5 million yuan to 10 million yuan very soon.
      • The Hong Kong Legislative Council said that the amendments to the Fugitive Offenders Ordinance, originally scheduled for June 12, will not be held on Friday. Once the meeting time is determined, a notice will be issued. Protest organizers called for demonstrations on this Sunday, June 16.







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