iFund- Daily Market Commentary

2019-06-25 01:07
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24/6/2019

The tension between the United States and Iraq has escalated, and Trump imposed sanctions on Iran’s supreme leader Khamenei and other eight senior military commanders. The Iranian side said that US sanctions are ignoring international law. The Iranian president asked the United States to make more concessions. Besides, Trump once again criticized the Fed’s policy is too tight. The US Congress pressured Trump to remain tough on Huawei issue when he met with Xi Jinping.

      • The Dow Jones Industrial Average closed at 26,727.54 points, up 8.41 points or 0.03%. The Standard & Poor’s 500 Index closed at 2,945.35 points, down 5.11 points or 0.17%. The Nasdaq index closed at 8,005.70 points, down 26.01 points or 0.32%.
      • US President Trump imposed sanctions on Iran’s supreme leader Khamenei and the othet eight senior military commanders, which would make Khamenei and his office unable to access financial resources.
      • The United States, the United Arab Emirates, the United Kingdom and Saudi Arabia urged a diplomatic solution on the Iranian issue. Pompeo and the King of Saudi Arabia and the Crown Prince discussed on the issues of strengthening the security of the Strait of Hormuz.

     

      • The UK’s FTSE 100 index closed at 7,416.69 points, up 9.19 points or 0.12%. The Frankfurt DAX index closed at 12,274.57 points, down 65.35 points or 0.53%. The French CAC40 index closed at 5,521.71 points, down 6.62 points or 0.12%.
      • Markit data showed that the initial value of the Manufacturing Purchasing Managers’ Index (PMI) in the Eurozone in June has improved slightly, from 47.7 in May to 47.8, less than the market expectation of 48.
      • According to informed person, Qualcomm, which had previously been fined 997 million euros ($1.13 billion), may face another EU fine.
      • Japan’s Nikkei 225 index closed at 21,285.99 points, up 27.35 points or 0.13%. The yen closed at 107.300 against the US dollar, up 0.242%.
      • According to data from the Cabinet Office of Japan, after the seasonal adjustment, the final value of Japan’s Leading Indicator in April unexpectedly rose to 95.9, higher than the market expectation of 95.5.
      • The Shanghai Composite Index closed at 3,008.15 points, up 6.17 points or 0.21%. The Shanghai and Shenzhen 300 Index closed at 3,841.27 points, up 7.33 points or 0.19%. The RMB closed at 6.880 against 1 US dollar, down 0.065%.
      • According to Roth Capital, Huawei has closed its US PV inverter sales business. A Huawei spokesperson said that the company has laid off employees in the United States, but has not responded to whether it has terminated the sales of PV inverters in the United States.
      • The lawyer of Meng Wanzhou, Huawei’s chief financial officer, sent a letter to the Canadian Minister of Justice, urging the Canadian side to terminate the extradition process. The lawyer claimed that according to Canadian extradition law, Lametti has the right to withdraw the discretionary powers of the Meng Wanzhou procedure at any time.







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