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28 Aug《International Market Focus》US-China trade situation is unclear, US stocks fell

US: The US-China trade situation is unclear. After the news of digesting trade and bullishness in the early trading, the US bond yield curve has intensified, and the US stock index has reversed the market and closed down. The S&P 500 index fell 9.22 points, or 0.32%, to close at 2,869.16 points. The Nasdaq index fell 26.79 points, or 0.34%, to close at 7,826.95 points. The US stock market Dow Jones index fell 120.93 points, or 0.47%, to close at 25,777.90 points.

 

Europe: The US-China trade situation is unclear. The pan-European Stoxx 600 index rose 2.34 points, or 0.63%, to close at 373.62 points.

 

Europe: Germany´s overall economic situation is not very optimistic, GDP growth in the second quarter was -0.1%, in line with earlier market expectations, net trade also contracted by 0.5%, offsetting personal consumption and government spending growth.

 

South Korea: South Korea´s central bank (BOK) today (27th) issued a statement that the consumer confidence index fell to 92.5 in August from 95.9 in the previous month, hitting a new low in January 2017, indicating that consumers´ concerns about the economic outlook have deepened.

 

Southeast Asia: Southeast Asian stock markets are intricate, Indonesia´s stock market rose by 0.74%, and the Philippines stock market fell by 1.62%.

 

Commodities: The data showed that major producers fell sharply in July, and US crude oil inventories were expected to decline last week. WTI crude oil futures for October delivery rose $1.29, or 2.4%, to $54.93 a barrel.

 

Commodities: The possibility of US-China trade negotiations may be sharply reduced, investors´ demand for safe-haven commodities will be deepened, and US stocks will plummet. US bond yields will fall, stimulating both silver and gold. Gold rose $15.35, or 1%, and gold price was $1,552.55 per ounce.

 

Currency: The market´s worries about the US recession have re-emerged, causing the US dollar to fall 0.07% to 97.925 after the shock.

 

 

Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources believed to be reliable. However, we do not verify such information. We do not guarantee its accuracy or completeness, nor do we take responsibility for any loss occasioned by reliance placed upon the contents hereof. Any statements nonfactual in nature constitute only current opinions, which are subject to change.  PC Securities Ltd (or one of its affiliates) or their officers, directors, analysts, or employees may have positions in securities or commodities referred to herein, and may, as principal or agent, buy and sell such securities or commodities.  Neither the information nor opinion expressed in this report shall constitute a solicitation to buy or sell any securities.

 

2019-08-28   Back