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2 January 2018
 |
| South korea financial markets (The Total Investment & Insurance
Solutions) |
Asian markets were mostly higher while European shares declined at the
opening Tuesday as 2018 trading began and investors looked ahead to whether the
record-setting U.S. equity run will last.
KEEPING SCORE: In early trading, Germany's DAX fell 0.7 percent to
12,820.81 and France's CAC 40 shed 0.4 percent to 5,292.70. London's FTSE 100
retreated 0.3 percent to 7,661.83. On Friday, the FTSE 100 climbed 0.9 percent
to a record while the DAX and CAC 40 each lost 0.5 percent. On Wall Street,
futures for the Dow Jones industrial average and Standard & Poor's 500
index both gained 0.1 percent.
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ASIA'S DAY: The Shanghai Composite Index rose 1.2 percent to 3,348.33
and Hong Kong's Hang Seng gained 2 percent to 30,515.31. Japanese markets were
closed for a holiday. Seoul's Kospi gained 0.5 percent to 2,479.65 and Sydney's
S&P-ASX 200 lost four points to 6,061.30. India's Sensex shed 0.1 percent
to 33,775.00. Benchmarks in Taiwan and Singapore gained while Jakarta declined.
WALL STREET: U.S. stocks slid on 2017's final trading day but turned in
their strongest annual performance since 2013. Technology companies, banks and
health care stocks accounted for much of the decline. Energy stocks fell, even
as the price of U.S. crude oil surged to its highest level in more than two
years. The S&P ended the day down 0.5 percent but turned in a 19.4 percent
gain for the year. The Dow also fell 0.5 percent but finished 2017 up 25.1
percent.
Nasdaq recorded the biggest advance, ending the year up 28.2 percent.
ANALYST'S TAKE: "U.S. equities ending the year off the highs may
not be a bad thing and surely does not distract from the year's stellar 19-28
percent gain depending on the stock market gauge. Question in 2018 is what it
will take for more of the same," Mizuho Bank said in a report. "And
if there is a New (non-bullish) theme in town this Year, investors long in
equities will be less Happy; even if equity bull run is getting long in the
tooth."
CHINA MANUFACTURING: A survey by Chinese business magazine Caixin found
manufacturing activity in December accelerated by its biggest margin in four
months. The magazine's purchasing managers' index rose to 51.5 from November's
50.8 on a 100-point scale on which numbers above 50 show activity improving.
The surveyed showed exports, total output and buying activity rising.
INDIA MANUFACTURING: A survey showed India's manufacturing activity
accelerated to a five-year high in December. The Nikkei India Manufacturing
Purchasing Managers' Index, compiled by IHS Markit, rose to 54.7 from
November's 52.6 on a 100-point scale on which numbers above 50 are meant to
show activity expanding. Indicators for total output, new orders and output
prices all rose. "Prospects for local manufacturers look bright over the
near term," Shilan Shah of Capital Economics said in a report.
ENERGY: Benchmark U.S. crude rose 16 cents to $60.58 per barrel in
electronic trading on the New York Mercantile Exchange. The contract gained 48
cents on Friday to close at $60.42. Brent crude, used to price international
oils, advanced 5 cents to $66.92 in London. It rose 71 cents the previous
session to $66.87.
CURRENCY: The dollar declined to 112.40 yen from 112.68. The euro rose
to $1.2047 from $1.2009.The Total
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