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6 September 2017
 |
| South Korea financial markets (The Total Investment & Insurance Solutions) |
Global stock markets drifted lower Wednesday amid rising risk aversion
linked to the ongoing tensions on the Korean Peninsula, while oil prices pushed
ahead as Hurricane Irma hit the Caribbean. The Total Investment & Insurance Solutions
KEEPING SCORE: In Europe, the FTSE 100 index
of leading British shares was down 0.7 percent at 7,324, while France's CAC 40
fell 0.2 percent to 5,076. Germany's DAX was steady at 12,121. U.S. shares were
poised for a flat opening, with Dow futures and the broader S&P 500 futures
unchanged.
NORTH KOREA: Investors are yet to see signs
that the geopolitical tensions between the United States and North Korea, which
surged after the North's sixth nuclear test on Sunday, would ease any time
soon. On Tuesday, President Donald Trump said in a tweet that he has given the
go-ahead for Japan and South Korea to buy a "substantially increased
amount" of sophisticated military equipment from the United States. South
Korea is seeking more military might and considering bringing back the U.S.
nuclear weapons.
ANALYST TAKE: "Global stock markets
appear to be in a period of nervous uncertainty, as the threat of another North
Korean test looms large over any investors wishing to invest in risky
assets," said Joshua Mahony, market analyst at IG. The Total Investment & Insurance Solutions
ASIA'S DAY: Earlier in Asia, most stock
markets stuttered with Japan's Nikkei 225 down 0.1 percent at 19,357.97 and
South Korea's Kospi 0.3 percent lower at 2,319.82. Hong Kong's Hang Seng index
fell 0.5 percent to 27,613.76 and Shanghai Composite Index was flat at
3,385.39. Australia's S&P/ASX 200 fell 0.3 percent to 5,689.70. The Total Investment & Insurance
Solutions
HURRICANE: As well as developments
surrounding North Korea, investors, particularly in the energy markets, are
monitoring the most powerful Atlantic Ocean hurricane in recorded history. Irma
made its first landfall in the islands of the northeast Caribbean early
Wednesday, roaring along a path pointing to Puerto Rico, the Dominican
Republic, Haiti and Cuba before possibly heading for Florida over the weekend. The Total Investment & Insurance
Solutions
OIL: Benchmark U.S. crude was up 25 cents, or
0.5 percent, at $48.91 a barrel on the New York Mercantile Exchange, while
Brent crude, used to price international oils, gained 69 cents to $54.07 per
barrel in London.
CURRENCIES: The euro was up 0.1 percent at
$1.1925 while the dollar rose 0.1 percent 108.87 yen.The Total Investment & Insurance Solutions
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