It is reported that China has lost confidence on Trump and has begun to prepare for the worst case of trade negotiations. Informed person revealed that the British government believes that there is an opportunity to restart the Brexit negotiations with the EU. Iran rejected the US meeting proposal, and President Rohani said that the United States must lift sanctions before negotiations.
- The Dow Jones Industrial Average closed at 25,777.90 points, down 120.93 points or 0.47%. The Standard & Poor’s 500 Index closed at 2,869.16 points, down 9.22 points or 0.32%. The Nasdaq index closed at 7,826.95 points, down 26.79 points or 0.34%.
- The credibility of Trump has become a key obstacle to the establishment of a lasting trade agreement between China and the United States. China has begun to prepare for the worst case of trade negotiations, including listing US companies in the list of unreliable entities and taking measures to stimulate economic growth.
- Iran rejected the US meeting proposal. President Rohani said that if the United States wants to negotiate, it must first lift sanctions against Iran.
- The UK’s FTSE 100 index closed at 7,089.58 points, down 5.40 points or 0.08%. The Frankfurt DAX index closed at 11,730.02 points, up 71.98 points or 0.62%. The French CAC40 index closed at 5,387.09 points, up 36.07 points or 0.67%.
- After British Prime Minister Johnson met with the presidents of Germany and France last week, it is reported that the British government believes that there is a chance to restart the Brexit negotiations, because the strong stance of Merkel and Macron on withdrawing from the agreement and the Irish border reserve program seems to be loose.
- The German economy contracted by 0.1% in the second quarter, and the export contracted by 1.3%, indicating that the worsening trade war between China and the United States exacerbated the sluggish German manufacturing industry.
- Japan’s Nikkei 225 index closed at 20,456.08 points, up 195.44 points or 0.96%. The yen closed at 105.810 against the US dollar, up 0.009%.
- According to data from the Cabinet Office of Japan, after the seasonal adjustment, the final value of Japan’s Leading Indicators in June was confirmed to drop for two consecutive months, from 94.9 in May to 93.3, the lowest since February 2010.
- The Shanghai Composite Index closed at 2,902.19 points, up 38.63 points or 1.35%. The Shanghai and Shenzhen 300 Index closed at 3,816.95 points, up 51.04 points or 1.36%. The RMB closed at 7.161 against 1 US dollar, down 0.230%.
- South China Morning Post reported that Shanghai will announce the details of the new rules of the free trade zone this week. Foreign workers with special expertise will enjoy income and housing subsidies.
- The State Council of China has introduced measures to promote commercial consumption and explore the gradual relaxation or cancellation on automobile purchase restrictions.