iFund- Daily Market Commentary

2019-08-02 02:01
Share
  • Share

30/7/2019

Trump attacked China’s reluctance to buy US agricultural products and continued to “exploit” the United States. British Prime Minister Johnson said that UK will leave the European Union on October 31 in any circumstances, and even hinted that there may be no more Brexit negotiations with the EU before the deadline. The China Central Political Bureau meeting promised to “effectively” deal with the economic and trade disputes and implement counter-cyclical adjustments in a timely and appropriate manner.

  • The Dow Jones Industrial Average closed at 27,198.02 points, down 23.33 points or 0.09%. The Standard & Poor’s 500 Index closed at 3,013.18 points, down 7.79 points or 0.26%. The Nasdaq index closed at 8,273.61 points, down 19.72 points or 0.24%.
  • Trump attacked China’s reluctance to buy US agricultural products, saying that China continues to “exploit” the United States and always change its agreement for its own interests at the last minute.
  • The Fed will announce interest rate decision on Wednesday afternoon in US time, which is expected to cut interest rates by 25 basis point. Trump demanded a “significant” rate cut and repeatedly called on the Fed to stop shrinking its balance sheet.

  • The UK’s FTSE 100 index closed at 7,646.77 points, down 39.84 points or 0.52%. The Frankfurt DAX index closed at 12,147.24 points, down 270.23 points or 2.18%. The French CAC40 index closed at 5,511.07 points, down 90.03 points or 1.61%.
  • The Germany’s inflation rate slowed more-than-expected in July, further confirming that the European Central Bank may need to increase its efforts to support the euro zone economy. The Eurozone’s inflation rate that will announce on Wednesday is expected to be much lower than the central bank’s target, and the second quarter GDP growth rate may slow down.
  • British Prime Minister Johnson said that the UK will leave the EU on October 31 in any circumstances, and even hinted that there may be no more Brexit negotiations with the EU before the deadline.

  • Japan’s Nikkei 225 index closed at 21,709.31 points, up 92.51 points or 0.43%. The yen closed at 108.645 against the US dollar, down 0.165%.
  • Bank of Japan Governor Haruhiko Kuroda said that the central bank will not hesitate to increase the stimulus measures to prevent the risk of price change.

  • The Shanghai Composite Index closed at 2,952.34 points, up 11.33 points or 0.39%. The Shanghai and Shenzhen 300 Index closed at 3,870.32 points, up 16.05 points or 0.42%. The RMB closed at 6.886 against 1 US dollar, down 0.137%.
  • The Central Political Bureau held a meeting on Tuesday, pledging to deal with the economic and trade disputes “effectively”, and will implement counter-cyclical adjustments in a timely and appropriate manner. It also claimed it will not use real estate as a means of stimulating the economy in the short term.
  • Huawei announced that its revenue increased by 23.2% year-on-year in the first half of the year. Chairman Liang Hua said that the supply of key components has not yet recovered, and the second half of the year may face some adjustments, but he claimed that the US ban has not affected Huawei to launch 5G.

 






Related Articles

Manage your asset round-the-clock

Hotline

852
3896 3896

1501, 15/F, 101 King's Road,
North Point, Hong Kong

Mon - Fri (excluding public holidays)
09:00 - 18:00

Copyright © 2019 Noble Apex Advisors Limited. All Rights Reserved.