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5 Dec《Global Market Headline》market continues to worry about economic slowdown and trade, US stocks plunged

US: US stocks plunged because of a consensus between the US and China and the fact that the yield curve was upside down, triggering market concerns about economic slowdown and trade. US stock Dow Jones index fell 799.36 points, or 3.10%, to close at 25,027.07 points. The S&P 500 index fell 90.31 points, or 3.24%, to close at 2,700.06 points. The Nasdaq index fell 283.09 points, or 3.80%, to close at 7,158.43 points.

Europe: European stock markets fell on Tuesday, and investors worried that the world´s two biggest economies could not resolve their trade differences. The pan-European Stoxx 600 index fell 2.75 points or 0.76% to 358.43.

Europe: The British Parliament voted for the first time that the government defied the parliament, highlighting that Mei has not yet received the support of the majority of parliamentarians, and the pound hit a one-and-a-half-year low.

Hong Kong: Hong Kong´s residential sales in November were HK$26 billion, down 51.6% from HK$53.8 billion in the same period last year. Residential sales in November were 2,635 units, compared with 5,694 units in the same period last year, down 54% year-on-year.

Southeast Asia: Inspired by the ceasefire between China and the US, the Southeast Asian stock market rose mostly, and the Philippines stock market rose 2.27%.

Commodities: Brent crude oil futures closed down $0.09, or 0.15%, to $61.60 a barrel, dragged down by the stock market.

Commodity: The weak US dollar helped gold hit a five-month closing high, with gold rising $7, or 0.6%, to close at $1,246.60 an ounce.

Currency: Analysts expect that the 2-year and 10-year bond yield curve will probably reverse, and the curve is seen as the outpost of the US recession, with the US dollar index falling 0.1% to 96.971.

 

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.

 

2018-12-19   Back