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13 Sep《Global Market Focus》Sino-US trade war reappears, US stocks rise to historical highs

US: US President Trump delayed the tariff increase, the US intends to reach a temporary trade agreement with China and other series of US-China trade news, the European Central Bank cut interest rates and restart quantitative easing (QE), stimulating US stocks to climb to near record highs. US stocks Dow Jones rose 45.41 points, or 0.17%, to close at 27,182.45 points. The Nasdaq index rose 24.79 points, or 0.30%, to close at 8,194.47 points. The S&P 500 index rose 8.64 points, or 0.29%, to close at 3,009.57.

 

Europe: Sino-US trade war reappeared, the pan-European Stoxx 600 index rose 0.77 points, or 0.2%, to close at 390.48 points.

 

Europe: The European Central Bank (ECB) held a September interest rate meeting to announce interest rate cuts for the first time in 2016. At the same time, the European Central Bank announced that it would restart QE, change its forward-looking guidance to “doves” and start implementing interest rate stratification. The European Central Bank announced on Thursday (12th) that it will cut the deposit rate by 10 basis points to -0.5%, maintain the main refinancing rate unchanged at 0.00%, and maintain the marginal lending rate unchanged at 0.25%.

 

Turkey: Turkish Central Bank President Murat Uysal announced on Thursday that it would cut the benchmark interest rate from 19.75% to 16.5%, exceeding economists´ expectations.

 

Southeast Asia: Southeast Asian stock markets are intricate, Vietnam stocks rose 0.7%, Thailand stocks fell 0.8%.

 

Commodities: Trump´s tweet calls for the US Federal Reserve to cut interest rates and throw negative interest rate recommendations for the first time. On the other hand, the European Central Bank (ECB) meeting may also adopt monetary easing policy on Thursday, and demand for safe-haven buying is in full swing. return. Gold for December delivery rose $0.65, or 0.04%, and the price of gold was at $1505.8 per ounce. It recovered to a new low of 5 weeks before the recovery.

 

Commodities: Mainly affected by the return of Iranian supply that may lift the sanctions to the crude oil market, the United States and Iran are expected to restart dialogue. The price of WTI crude oil futures for October delivery fell 66 cents or 1.2% to US$55.09 per barrel.

 

Currency: Due to the market, China and the United States will reach a news of a transitional agreement and even cancel some of China´s tariffs. Although it was subsequently denied by White House officials, the news has sharply reversed the exchange rate. The US dollar index hit an intraday high of 99.11, hitting a new high for the week, but the gains were not only completely retreated, but also fell by 0.27% to 98.37.

 

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.

 

2019-09-13   Back