iFund- Daily Market Commentary

2019-07-19 07:45
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17/7/2019

It is reported that the Sino-US trade negotiations have reached a stalemate on Huawei’s issue. The US Commerce Secretary said that whether the two sides will face an interview depends on the outcome of the telephone negotiations. The Fed’s Beige Book shows that the US economy is growing steadily and the prospects are good.

  • The Dow Jones Industrial Average closed at 27,219.85 points, down 115.78 points or 0.42%. The Standard & Poor’s 500 Index closed at 2,984.42 points, down 19.62 points or 0.65%. The Nasdaq index closed at 8,185.200 points, down 37.60 points or 0.46%.
  • Dow Jones: The Sino-US negotiations on trade agreements have stagnated, and the Trump administration is studying how to respond to China’s request on lessening the restrictions on Huawei.
  • According to the Fed’s Beige Book survey, the US economic and employment growth have slowdown, while inflation has remained stable or slightly weakened.

  • The UK’s FTSE 100 index closed at 7,535.46 points, down 41.74 points or 0.55%. The Frankfurt DAX index closed at 12,341.03 points, down 89.94 points or 0.72%. The French CAC40 index closed at 5,571.71 points, down 42.67 points or 0.76%.
  • The UK’s inflation rate in June was steadily at the target level of 2%, and the core inflation rate was also in line with expectations.
  • Eurozone’s consumer price index (CPI) growth slightly accelerated to 0.2% month-on-month in June, beating market estimate of an unchanged growth at 0.1%, as announced by Eurostat. The CPI growth was tweaked up to 1.3% year-on-year in final value, topping consensus of a steady growth at 1.2%.

  • Japan’s Nikkei 225 index closed at 21,469.18 points, down 66.07 points or 0.31%. The yen closed at 108.090 against the US dollar, down 0.166%.
  • Bank of Japan Governor Haruhiko Kuroda claimed that if the upward momentum of the price is lost, the central bank will consider additional easing measures.

  • The Shanghai Composite Index closed at 2,931.69 points, down 5.93 points or 0.20%. 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%.
  • CCTV reported that officers are called for support for the Internet platform economy and strengthening the protection of intellectual property rights in the State Council executive meeting.
  • China’s Ministry of Commerce survey showed that consumers are willing to increase the purchase of imported food, maternal and child supplies and other consumer goods. In the coming year, 9.7% of enterprises plan to increase the import of consumer goods, which is 2.5% higher than the proportion of enterprises planning to reduce imports.





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