Trump said that he will have a talk with Chinese President Xi Jinping to discuss trade issues soon. The Chinese government has previously stated that the proposed 10% tariff imposed by the United States violates the consensus of the two leaders of state and will take countermeasures. The global economic downside risks increase the possibility of interest rate cut in September. The 10-year US bond yield once fell below 1.5%, hitting the lowest since August 2016.
- The Dow Jones Industrial Average closed at 25,579.39 points, up 99.97 points or 0.39%. The Standard & Poor’s 500 Index closed at 2,847.60 points, up 7.00 points or 0.25%. The Nasdaq index closed at 7,766.62 points, down 7.32 points or 0.09%.
- Trump said that he will talk with Chinese President Xi Jinping to discuss trade issues soon. According to Fox Business, Trump said that the agreement with China must be in accordance with “our terms.”
- US economic data showed that the retail sales in July has a largest growth within last four months, benefiting from a surge in online shopping. Besides, manufacturing output fell in July, while the two regional Fed manufacturing surveys in August were better than expected.
- The UK’s FTSE 100 index closed at 7,067.01 points, down 80.87 points or 1.13%. The Frankfurt DAX index closed at 11,412.67 points, down 79.99 points or 0.70%. The French CAC40 index closed at 5,236.93 points, down 14.37 points or 0.27%.
- In an interview with The Wall Street Journal, European Central Bank Management Committee Rehn said that the central bank should introduce an “influential and significant” stimulus plan at the September meeting, and does not rule out the possibility of adding stocks in the quantitative easing measures.
- The idea of the British Labor Party leader Corbin as the guardian of prime minister to stop the no-deal Brexit was failed, because even Corbin’s party, some people obviously think that they should look for another solution.
- Japan’s Nikkei 225 index closed at 20,405.65 points, down 249.48 points or 1.21%. The yen closed at 105.760 against the US dollar, up 0.359%.
- The Ministry of Economy, Trade and Industry announced that after seasonal adjustment, Japan’s Industrial Production Index fell by 3.3% month-on-month to 101.4 in June.
- The Shanghai Composite Index closed at 2,815.80 points, up 6.88 points or 0.25%. The Shanghai and Shenzhen 300 Index closed at 3,694.00 points, up 11.60 points or 0.32%. The RMB closed at 7.043 against 1 US dollar, down 0.372%.
- China once again launches measures to ease the liquidity pressure of small and medium-sized financial institutions. The Shanghai Stock Exchange will create standardized bills, and the first phase of the underlying assets will be Jinzhou Bank acceptance bills.
- Huawei founder Ren Zhengfei said in an interview with Sky News that the UK will not reject Huawei on the 5G network.