The tense relationship between the United States and Iraq has been further escalated. The US military has shot down Iranian drones near the Strait of Hormuz. Iran claims to have seized a foreign smuggling ship. US Treasury Secretary Mnuchin denied that the issue of Huawei is the crux of Sino-US negotiations and said that there are still “many complicated issues.”
- The Dow Jones Industrial Average closed at 27,222.97 points, up 3.12 points or 0.01%. The Standard & Poor’s 500 Index closed at 2,995.11 points, up 10.69 points or 0.36%. The Nasdaq index closed at 8,207.24 points, up 22.03 points or 0.27%.
- Trump said that the US military has shot down and destroyed an Iranian drone near the US ship near the Strait of Hormuz because it threatened the safety of the US ship and its crew.
- US Treasury Secretary Mnuchin denied that Huawei issue is the crux of Sino-US negotiations and said that there are still “many complicated issues.”
- The UK’s FTSE 100 index closed at 7,493.09 points, down 42.37 points or 0.56%. The Frankfurt DAX index closed at 12,227.85 points, down 113.18 points or 0.92%. The French CAC40 index closed at 5,550.55 points, down 21.16 points or 0.38%.
- The Times reported that the British Chancellor of the Exchequer, the Minister of Justice, and the Minister of International Development sought to resign before the inauguration of Boris Johnson.
- The British Bureau of Statistics announced that after seasonal adjustments, UK retail sales in June unexpectedly rose by 1% month-on-month, much higher than the market expectations of a 0.3% decrease.
- Japan’s Nikkei 225 index closed at 21,046.24 points, down 422.94 points or 1.97%. The yen closed at 107.835 against the US dollar, down 0.236%.
- 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 2,901.18 points, down 30.51 points or 1.04%. The Shanghai and Shenzhen 300 Index closed at 3,768.40 points, down 36.24 points or 0.95%. The RMB closed at 6.882 against 1 US dollar, up 0.073%.
- Deputy Director of the National Development and Reform Commission of China claimed that he is organizing the formulation of specific measures. It will adopt very strict disciplinary measures for serious acts of dishonesty. Industry and market bans within a certain time limit will be implemented, and some enterprises will be permanently evicted from the market.
- China Development Bank stressed that it will give full play to counter-cyclical adjustments and focus on increasing support for key areas and weak links.