Trump put pressure on China again, claiming that if he is willing, he can impose more tariffs on Chinese imports, causing the US stocks fell. Powell reiterated that the Fed will take appropriate measures to deal with the rise in downside risks. The size of US debt held by China in May fell to a two-year low.
- The Dow Jones Industrial Average closed at 27,335.63 points, down 23.53 points or 0.09%. The Standard & Poor’s 500 Index closed at 3,004.04 points, down 10.26 points or 0.34%. The Nasdaq index closed at 8,222.80 points, down 35.39 points or 0.43%.
- Trump reiterated at the White House cabinet meeting that if he is willing, he can impose more tariffs on Chinese imports.
- Federal Reserve Chairman Powell said that the Fed is closely monitoring the downside risks of US economic growth and the Fed will take appropriate actions to maintain economic expansion.
- The UK’s FTSE 100 index closed at 7,577.20 points, up 45.48 points or 0.60%. The Frankfurt DAX index closed at 12,430.97 points, up 43.63 points or 0.35%. The French CAC40 index closed at 5,614.38 points, up 36.17 points or 0.65%.
- The European Parliament confirmed that Von Delane, German Defense Minister, will be the next chairman of the European Commission. Von Delane has promised to stimulate investment through bolder climate policies.
- The UK’s salary growth during the March-May period was the fastest since 2008, and the unemployment rate remained at its lowest level since the mid-1970s.
- Japan’s Nikkei 225 index closed at 21,535.25 points, down 150.65 points or 0.69%. The yen closed at 108.270 against the US dollar, up 0.273%.
- Japan’s Ministry of Economy, Trade and Industry announced that after seasonal adjustment, Japanese third industry activity index fell by 0.2% month-on-month to 106.8, which was worse than market expectations of a 0.1% decline.
- The Shanghai Composite Index closed at 2,937.62 points, down 4.57 points or 0.16%. The Shanghai and Shenzhen 300 Index closed at 3,806.84 points, down 17.34 points or 0.45%. The RMB closed at 6.878 against 1 US dollar, up 0.007%.
- Chinese Premier Li Keqiang said that although there are some indicators were better than expected in the first half of this year, the downward pressure on the economy has increased, and the government will pre-adjust the policy in due course.
- China’s holdings on US Treasury bonds fell to a two-year low in May, to $1.11 trillion, decreased by $2.8 billion from the previous month.