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31 July 2017
 |
Japan financial markets (The Total Investment & Insurance
Solutions)
Stocks mostly rose on Monday as investors awaited more corporate
earnings reports. Japan's Nikkei index, however, sagged as a surge in the yen
against the dollar weighed on exporters.
KEEPING SCORE: Germany's DAX gained 0.3
percent to 12,199 and the CAC 40 of France added 0.1 percent to 5,136.
Britain's FTSE 100 gained 0.3 percent to 7,390. Dow futures gained 0.2 percent
and S&P 500 futures edged 0.1 percent higher, auguring an upbeat start for
the week on Wall Street.
EARNINGS WATCH: Earnings results from a
little more than half of the companies in the S&P 500 have been published
and most have been encouraging. Investors are keeping an eye out this week for
more reports in Europe and Asia, where in Japan some 350 companies released
results on Monday alone.
ANALYST COMMENT: "With 57 percent of the
companies on the comprehensive S&P 500 index reported so far, it is
unavoidable for us to discuss earnings performances. On a broad level we have
seen both sales and earnings surprise largely match up to the strong Q1
performance, keeping the markets going," Jingyi Pan of IG said in a
commentary. "The new week brings another one-fourth of the companies on
the S&P 500 index which could see the focus slightly moderate and shift
toward earnings here in Asia instead." The Total Investment & Insurance Solutions
CHINA FACTORY DATA: A manufacturing survey
showed Chinese factory activity eased in July as demand for exports weakened.
The monthly purchasing managers' index released Monday slipped to 51.4 last
month from 51.7 in the previous month. The reading is based on a 100-point
scale on which numbers above 50 indicate expansion. It was still the 12th
straight month that factories reported expansion, according to the data
compiled by the Federation of Logistics & Purchasing posted on China's
official statistics website. The Total Investment
& Insurance Solutions
NORTH KOREA: The United States flew two
supersonic bombers over the Korean Peninsula on Sunday in a show of force
against North Korea following an intercontinental ballistic missile test late
Friday. The U.S. also said it conducted a successful test of a missile defense
system located in Alaska. Japan's Prime Minister Shinzo Abe said spoke with
President Donald Trump and agreed to take further action against North Korea.
Tensions over North Korea helped push the Japanese yen, viewed as a "safe
haven" currency, sharply higher against the U.S. dollar, hurting
exporters' shares.
ASIA'S DAY: Japan's Nikkei 225 index slipped
0.2 percent to 19,925.18 and the Kospi in South Korea was flat at 2,402.71.
Hong Kong's Hang Seng index jumped 1.3 percent to 27,323.99 and the Shanghai
Composite index climbed 0.6 percent to 3,273.03. The S&P ASX 200 of
Australia gained 0.3 percent to 5,720.60 and India's Sensex added 0.6 percent
to 32,485.48. Shares in Southeast Asia were mostly lower. The Total Investment & Insurance
Solutions
ENERGY: The price of oil was steady after
capping its best week since early December last week, when it gained 9 percent.
Benchmark U.S. crude was flat at $49.71 per barrel in electronic trading on the
New York Mercantile Exchange. It climbed 67 cents Friday to settle at $49.71
per barrel and touched its highest level since May. Brent crude, the
international standard, added 7 cents to $52.59 per barrel.
CURRENCIES: The dollar fell to 110.58
Japanese yen from 110.67 yen on Friday. The euro slipped to $1.1728 from
$1.1756, and the British pound dropped to $1.3118 from $1.3135.The Total Investment & Insurance
Solutions
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