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8 November 2017
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| China financial markets (The Total Investment & Insurance Solutions |
Global stock markets slipped on Wednesday on weaker Chinese trade
figures, while investors monitored U.S. President Donald Trump's visit to Asia,
where he delivered a fresh warning to North Korea.
KEEPING SCORE: Germany's DAX fell 0.1 percent to 13,372 and France's CAC
40 dropped 0.2 percent to 5,467. London's FTSE 100 shed 0.1 percent to 7,506.
On Wall Street, futures for the Standard & Poor's 500 index and the Dow
Jones industrial average were both down 0.1 percent.
CHINA TRADE: China reported its exports rose 6.9 percent to $188.9
billion, a decline from September's 8.1 percent growth. Imports rose 17.2
percent to $150.9 billion, down from the previous month's 18.7 percent
increase. The politically volatile trade surplus with the United States was
$26.6 billion, a decline of $1.5 billion from September but a 12.2 percent
increase from a year earlier.
SNAP INTEREST: Shares in Snap Inc., which had fallen 20 percent before
the opening bell on poor earnings, cut those losses in half on news that
Chinese internet company Tencent bought a 10 percent stake. Tencent runs the
WeChat messaging app, as well as online payment platforms and games.
ASIA'S DAY: Japan's Nikkei 225 index shed 0.1 percent to 22,913.82 and
Hong Kong's Hang Seng retreated 0.3 percent to 28,907.60. The Shanghai
Composite Index gained 2 points to 3,415.46 and Sydney's S&P-ASX 200 added
2 points to 6,116.30. Seoul's Kospi advanced 0.3 percent to 2,552.40 and
India's Sensex edged up 14 points to 33,383.74. The Total Investment & Insurance Solutions
TRUMP WATCH: Trump arrived in Beijing on a two-day visit with trade high
on his agenda. The president has said publicly he wants China to narrow its
multibillion-dollar trade surplus with the United States but has yet to say
what he might propose to Chinese President Xi Jinping. Trump is in the middle of
a 12-day, multination tour of Asia. The
Total Investment & Insurance Solutions
NORTH KOREA: In a speech to South Korean lawmakers before flying to
Beijing, Trump warned North Korea, "Do not underestimate us. And do not
try us." Pro- and anti-Trump protesters staged rallies in Seoul ahead of
his visit, reflecting a public deeply divided along ideological and age lines.
Many South Koreans worry Trump's fiery rhetoric on North Korea raises the risk
of war that could cost thousands of South Korean lives. The Total Investment & Insurance Solutions
ANALYST COMMENT: "Markets seem unsure which way to go next — equity
markets are largely becalmed, FX is mostly directionless, with a few
exceptions, and the same too goes for bond markets," Rob Carnell of ING
said in a report. "We still wait more progress on the U.S. tax reform
bill." He said Trump was acting more diplomatically and "does not
appear to have set off any fireworks" in South Korea. The Total Investment & Insurance
Solutions
CURRENCIES: The dollar declined to 113.49 yen from Tuesday's 113.99 yen.
The euro was flat around $1.1588. The
Total Investment & Insurance Solutions
ENERGY: Benchmark U.S. crude declined 15 cents to $57.05 per barrel in
electronic trading on the New York Mercantile Exchange. The contract lost 15
cents on Tuesday. Brent crude, used to price international oils, shed 22 cents
to $63.47 in London, having lost 58 cents the previous session.The Total Investment & Insurance
Solutions
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