Major indices drop as US and China tension heats up.
- The Dow Jones Industrial Average Index closed at 26,164.04 points, down 313.98 points or -1.19%. The Standard & Poor’s 500 Index closed at 2,893.06 points, down 45.73 points or -1.56%. The Nasdaq Index closed at 7,823.78 points, down 132.51 points or -1.67%.
- The White House is studying how to limit government pension funds from investing in Chinese stocks.
- Federal Reserve Chairman Powell said the Feds will resume buying US Treasury bonds.
- The UK’s FTSE 100 index closed at 7,077.64 points, down 44.90 points or -0.63 %. The French CAC40 index closed at 5,438.77 points, up 16 points or 0.30 %.
- UK Prime Minister Boris Johnson told German Chancellor Angela Merkel a Brexit deal is essentially impossible if the EU demands Northern Ireland to stay in EU’s customs union.
- European banking regulators has warned the banking industry to make necessary staffing arrangements in case of a hard Brexit.
- Japan’s Nikkei 225 Index closed at 21,587.78 points, up 212.53 points or +0.99%. The yen closed at 106.950 against the US dollar, down 0.056%.
- China and Japan link up with ‘feeder’ ETFs to make cross-border equities investment cheaper and more efficient.
- The Shanghai Composite Index closed at 2,913.57 points, rose 8.38 points or 0.29%. The Shanghai and Shenzhen 300 Index closed at 3,837.68 points, rose 23.15 points or 0.61%. The RMB closed at 7.139 against 1 US dollar, rose 0.134%.
- China says it will launch counter measures against the US sanction list.
- PBOC Governor Yi Gang will join Chinese Vice Premier Liu He at the talks in Washington.