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5 December 2017
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Japan Financial Markets (The
Total Investment & Insurance Solutions)
World stock markets mostly fell Tuesday as investors digested the
possible impact of the U.S. tax legislation and the stalled Brexit
negotiations.
KEEPING SCORE: Germany's DAX slipped 0.3 percent to 13,015 and the CAC
40 of France lost 0.4 percent to 5,365. Britain's FTSE 100 climbed 0.1 percent
to 7,344. Wall Street looked set for a positive start, with S&P 500 futures
up 0.2 percent and Dow futures gaining 0.3 percent.
U.S. TAXES: Stock indexes initially jumped Monday on expectations that
lower tax rates will boost corporate profits. But technology companies that
already pay the lowest effective tax rates of the 11 sectors in the S&P 500
skidded. Uncertainty over the tax overhaul persists since the Senate and House
of Representatives must iron out differences in their respective proposals,
with a Friday deadline to avert a government shutdown looming.
BREXIT TALKS: The European Union and Britain ended a flurry of top-level
diplomacy on Monday without a deal on the terms of their divorce, as agreement
on how to maintain an open Irish border after Brexit slipped out of the
negotiators' grasp. But the two sides said they were within striking distance
of consensus, setting up a hectic negotiating rush ahead of an EU summit next
week. The Total Investment &
Insurance Solutions
ANALYST VIEWPOINT: "The two overarching macro themes the market
honed in on overnight have been the response from European and U.S. traders to
the Senate passing its tax plan and that no deal has yet been formally reached
in the Brexit negotiations," Chris Weston of IG said in a commentary.
THE DAY IN ASIA: Tokyo's Nikkei 225 index slipped 0.4 percent to
22,622.38 and Hong Kong's Hang Seng index dropped 1.0 percent to 28,842.80.
India's Sensex lost 0.2 percent to 32,806.18. The Kospi in South Korea gained
0.3 percent to 2,510.12, while the Shanghai Composite index shed 0.2 percent to
3,303.68. Australia's S&P ASX 200 fell 0.2 percent to 5,971.80. Shares in
Southeast Asia were mixed while Taiwan declined. The Total Investment & Insurance Solutions
CURRENCIES: The dollar rose to 112.61 Japanese yen from 112.41 yen late
Monday. The euro slipped to $1.1853 from $1.1866, and the British pound fell
$1.3419 from $1.3479. The Total
Investment & Insurance Solutions
ENERGY: Benchmark U.S. crude gave up 34 cents to $57.13 per barrel in
electronic trading on the New York Mercantile Exchange. It slumped 89 cents on
Monday. Brent crude, the international standard, lost 19 cents to $62.26 per
barrel. It fell $1.28 the day before.The
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