No fund search result

iFund- Daily Market Commentary

2019-09-13 04:45
  • Share


Trump said it would consider to have a temporary trade agreement with China. It is reported that US officials have discussed temporary trade agreements with a view to delaying tariffs in exchange for China’s commitment to intellectual property rights and agricultural products procurement. The US core CPI in August hit a one-year high. The European Central Bank further lowered the negative interest rate, and despite the opposition from the core countries such as Germany and France, it still insisted on restarting quantitative easing.

  • The Dow Jones Industrial Average closed at 27,182.45 points, up 45.41 points or 0.17%. The Standard & Poor’s 500 Index closed at 3,009.57 points, up 8.64 points or 0.29%. The Nasdaq index closed at 8,194.47 points, up 24.79 points or 0.30%.
  • Trump said he is holding an open attitude to have a temporary trade agreement with China. However, he claimed it is better to reach a permanent agreement with China.
  • Former Federal Reserve Chairman Yellen said although the US economy is in good condition, the threat to the economic outlook has increased, and inflation is far below the target.

    • The UK’s FTSE 100 index closed at 7,344.67 points, up 6.64 points or 0.09%. The Frankfurt DAX index closed at 12,410.25 points, up 51.18 points or 0.41%. The French CAC40 index closed at 5,642.86 points, up 24.80 points or 0.44%.
    • The European Central Bank decided to further cut the negative deposit rate to -0.5%, and it will purchase 20 billion euros of bonds each month from November 1 to boost the economic growth of the euro zone.
    • The British “Financial Times” reported that the EU’s chief Brexit negotiator said that there is no reason to be optimistic about the prospect of Brexit. The risk of No-Deal Brexit has still not been eliminated. The EU is still waiting for a “real” Brexit proposal.

  • Japan’s Nikkei 225 index closed at 21,759.61 points, up 161.85 points or 0.75%. The yen closed at 107.880 against the US dollar, down 0.195%.
  • Japanese Prime Minister Shinzo Abe claimed the new cabinet will not change its policy toward South Korea. It is expected that the uncertainty of the global economic outlook will continue to increase. Shinzo Abe claimed that if downside risks become a reality, the government will take all feasible measures to deal with it.

    • The Shanghai Composite Index closed at 3,031.24 points, up 22.42 points or 0.75%. The Shanghai and Shenzhen 300 Index closed at 3,972.38 points, up 42.28 points or 1.08%. The RMB closed at 7.085 against 1 US dollar, up 0.432%.
    • It is reported that China is seeking to increase pork imports from the United States, the European Union and other places in order to cope with the soaring price of meat.
    • The Financial Times reported that the Hong Kong Stock Exchange considers increasing the proportion of cash in its offer to buy the London Stock Exchange. The Exchange will not make any changes to the quotation until the London Stock Exchange responds to its initial proposal.

Related Articles