iFund – Daily Market Commentary

2019-10-10 06:43
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It is reported that China is open to a limited trade agreement with the US, but is not optimistic about reaching a comprehensive agreement. The two countries officially opened a new round of high-level economic and trade consultations on Thursday.

    • The Dow Jones Industrial Average closed at 26,346.01 points, up 181.77 points or 0.70%. The Standard & Poor’s 500 Index closed at 2,919.40 points, increased by 26.34 points or 0.91%. The Nasdaq index closed at 7,903.74 points, increased by 79.97 points or 1.02%.
    • US Vice President Burns thinks that the United States will require China to open its market in trade negotiations, dealing with intellectual property rights and forced technology transfer.
    • Federal Reserve Chairman Powell reiterated that despite some risks, the US economy is in good shape and the Fed’s mission is to keep the status.

    • The UK’s FTSE 100 index closed at 7,166.50 points, up 23.35 points or 0.33%. The Frankfurt DAX index closed at 12,094.26 points, increased by 124.06 points or 1.04%. The French CAC40 index closed at 5,499.14 points, increased by 42.52 points or 0.78%.
    • EU’s chief negotiator for Brexit said that the EU and the UK currently have no conditions for a Brexit agreement.
    • British Prime Minister Johnson urged Trump not to impose tariffs on British and EU exports.

    • Japan’s Nikkei 225 index closed at 21,456.38 points, decreased by 131.40 points or 0.61%. The yen closed at 107.370 against the US dollar, decreased by 0.391%.
    • Japan’s Cabinet Office data showed that after seasonal adjustments, Japan’s core machinery orders fell by 2.4% month-on-month (previous value fell 6.6%), lower than market expectations of a 1% decreased.

    • The Shanghai Composite Index closed at 2,924.86 points, increased by 11.29 points or 0.39%. The Shanghai and Shenzhen 300 Index closed at 3,843.24 points, increased by 5.56 points or 0.14%. The RMB closed at 7.125 against 1 US dollar, increased by 0.196%.
    • It is reported that China plans to tighten visa restrictions on US nationals hired or sponsored by US intelligence agencies and human rights organizations.
    • Xi Jinping  showed his support for Pakistan’s Kashmir dispute before meeting with Indian Prime Minister Modi, saying that he will continue to firmly support Islamabad in core interests and major concerns.

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