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16 November 2017
 |
South Korea financial markets (The Total Investment & Insurance
Solutions)
Global stocks rose Thursday, but analysts said it was too early to say
markets had stabilized after a week of turbulent trading. Apart from persisting
worries over prospects for a U.S. tax overhaul and doubts over the pace of rate
hikes by the Federal Reserve, market-moving news was scarce.
KEEPING SCORE: Britain's FTSE 100 was up 0.1 percent at 7,383 and
France's CAC 40 rose 0.7 percent to 5,335, while Germany's DAX gained 0.5
percent to 13,040. Futures augured modest gains on Wall Street. S&P and Dow
futures both added 0.3 percent.
The Total Investment & Insurance Solutions
ASIA'S DAY: Japan led the region higher with its benchmark Nikkei 225
jumping 1.5 percent to close at 22,351.12 and snapping a six-session losing
streak. South Korea's Kospi advanced 0.7 percent to 2,534.79. Hong Kong's Hang
Seng index gained 0.6 percent to 29,018.76. Australia's S&P/ASX 200 added
0.2 percent to 5,943.50, while China's Shanghai Composite Index slipped 0.1
percent to 3,399.25.
ANALYST'S VIEW: While the Federal Reserve's rate hike in December is
"a done deal," Rob Carnell, head of research for Asia at ING bank,
said that the latest share price declines and lower commodity prices
"raise worries about growth and the pace of tightening in 2018." The Total Investment & Insurance
Solutions
FED WATCH: Analysts said strong U.S. retail sales data and consumer
prices released Wednesday gave a green light to the Fed to raise rates next
month. U.S. retail sales rose 0.2 percent in October, a healthy rate, and
consumer prices rose 0.1 percent last month. The Total Investment & Insurance
Solutions
OIL: Benchmark U.S. crude was down 8 cents at $55.25 per barrel in
electronic trading on the New York Mercantile Exchange. It fell 37 cents on
Wednesday. Brent crude, used to price international oils, shed 19 cents to
$61.68 per barrel in London, having lost 34 cents on Wednesday.
CURRENCIES: The dollar rose to 113.18 yen from 112.84 yen while the euro
sank to $1.1764 from $1.1790.The Total
Investment & Insurance Solutions
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