iFund- Daily Market Commentary

2019-09-20 04:45
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Sino-US trade negotiators restarted negotiations, and White House economic adviser Kudlow said the sentiment was “slightly Microsoft.” OECD expects world economic growth to decline to its lowest level in a decade.

    • The Dow Jones Industrial Average closed at 27,094.79 points, down 52.29 points or 0.19%. The Standard & Poor’s 500 Index closed at 3,006.79 points, up 0.06 points or 0.00%. The Nasdaq index closed at 8,182.88 points, up 5.49 points or 0.07%.
    • Iran warned that if it was attacked by the United States or Saudi Arabia, a “comprehensive war” would erupt.
    • Trump said the Fed should lower interest rates.

    • The UK’s FTSE 100 index closed at 7,356.42 points, up 42.37 points or 0.58%. The Frankfurt DAX index closed at 12,457.70 points, up 68.08 points or 0.55%. The French CAC40 index closed at 5,659.08 points, up 38.43 points or 0.68%.
    • The Bank of England kept interest rates unchanged.
    • It is reported that the European Commission President Juncker believes that the Brexit agreement is expected to be reached by October 31.

  • Japan’s Nikkei 225 index closed at 22,044.45 points, up 83.74 points or 0.38%. The yen closed at 107.920 against the US dollar, up 0.250%.
  • Japan’s July industrial activity index rose 0.2% month-on-month to 106.2, in line with market expectations.

  • The Shanghai Composite Index closed at 2,999.28 points, up 13.62 points or 0.46%. The Shanghai and Shenzhen 300 Index closed at 3,924.38 points, up 14.30 points or 0.37%. The RMB closed at 7.096 against 1 US dollar, down 0.104%.
  • Analysts predict that the 1-year LPR rate will fall by 5 to 10 pips, while the 5-year LPR may hold steady.
  • The Taiwan central bank announced that it will maintain the re-discount rate unchanged.

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