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24 November 2017
 |
| Hong Kong financial markets (The Total Investment & Insurance Solutions) |
World stock markets were mostly higher Friday after more upbeat economic
data in Europe, though trading was still subdued due to the U.S. Thanksgiving
holiday. Investors were monitoring Chinese shares, which stabilized after an
early tumble.
KEEPING SCORE: In Europe, France's CAC 40 was
up 0.6 percent to 5,413 while Germany's DAX gained 0.9 percent to 13,126.
Britain's FTSE 100 was flat at 7,419. Wall Street was poised to open higher
after the holiday, though trading volumes were expected to contained as the
market is due to close early. Dow and S&P 500 futures were both up 0.3
percent. The Total Investment &
Insurance Solutions
EUROPE GAINS: Key surveys this week showed
business activity rising further in the eurozone and jobs growth at the highest
since the dotcom era. On Friday, another report showed German business
confidence hit a record high in November. The Ifo Institute's business climate
indicator hit 117.5 points, from 116.8 the previous month, mainly thanks to
greater optimism about the future.
CHINA TRADING: Investors watching for another
day of wobbles on the mainland's markets were relieved when Shanghai shares
staged a late rally after bouncing off a fresh two-month low. On Thursday they
tumbled in the final hour of trading, sending the Shanghai Composite down 2.3
percent. Traders blamed factors including tightening liquidity following
reports the government is clamping down on online lenders and jitters over bond
markets.
ASIAN SCORECARD: Regional markets had a
choppy day of trading, with some benchmarks reversing early losses to end
higher. Japan's benchmark Nikkei 225 index rose 0.1 percent to 22,550.85 while
the Shanghai Composite index was up 0.1 percent to 3,353.82. Hong Kong's Hang
Seng rebounded 0.5 percent to 29,866.32 and South Korea's Kospi added 0.3
percent to 2,544.33. Australia's S&P/ASX 200 edged 0.1 percent lower to
5,982.60. Taiwan's benchmark was flat and Southeast Asian indexes were mostly
lower.
WEEK AHEAD: With few other catalysts expected
and U.S. trading shortened for "Black Friday," investors are looking
ahead to possible market-moving events next week. President Donald Trump's tax
overhaul is expected to come into the spotlight again as the Senate's version
goes to a vote. U.S. and Chinese manufacturing indexes are due for release, as
well as data on U.S. new home sales, Japanese industrial production and
European unemployment.
OIL: Energy futures were mixed. U.S. benchmark
crude rose 71 cents to $58.73 a barrel in electronic trading on the New York
Mercantile Exchange. The contract fell 20 cents on Thursday. Brent crude, used
to price international oils, gained 17 cents to $63.72 per barrel in London. The Total Investment & Insurance
Solutions
CURRENCIES: The dollar strengthened to 111.35
yen from 111.22 yen in late trading Thursday. The euro strengthened to $1.1881
from $1.1854.The Total Investment &
Insurance Solutions
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