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22 January 2018
 |
| China financial markets (The Total Investment & Insurance
Solutions) |
Global stocks were mixed on Monday as global investors mostly shrugged
off the latest U.S. government shutdown.
KEEPING SCORE: German's DAX was roughly flat
at 13,436 and France's CAC 40 rose 0.1 percent to 5,532. London's FTSE 100 was
up less than 0.1 percent at 7,733. Wall Street was forecast to dip, with the
futures for the Dow Jones industrial average off 0.2 percent and those for the
Standard & Poor's 500 down 0.1 percent.
U.S. SHUTDOWN: A range of U.S. government
services were suspended after lawmakers failed to agree on a new budget, but
economists said the shutdown was unlikely to last long enough to cause much
economic damage. Investors and consumers are feeling optimistic now based on
the tax cut signed into law last month, and the economy is strong enough to
power through a short shutdown.
ANALYST'S TAKE: "The much-anticipated
shutdown of the U.S. government on Saturday did not trigger much of a knee-jerk
reaction," said Margaret Yang of CMC Markets in a report.
"Safe-havens, namely Japanese yen and gold, edged higher, showing market
sentiment remains cautious amid uncertainties of how long it will take the Democrats
and Republicans to find a common ground on immigration concessions in order for
the government to resume operating."
GERMANY: Social Democrats voted to open talks
on forming a new government for Europe's largest economy with Chancellor Angela
Merkel's conservatives after party leaders urged members to overcome their
apprehensions for the good of the country. The vote was a step toward ending
political gridlock that has blocked formation of a government since September's
election. Many Social Democrats expressed concerns a 28-page agreement on
prerequisites for coalition talks had watered down too many of their positions.
ASIA'S DAY: The Shanghai Composite Index rose
0.4 percent to 3,501.36 points and Tokyo's Nikkei 225 ended up 8 points at
23,816.33. Hong Kong's Hang Seng advanced 0.4 percent to 32,393.41 and India's
Sensex added 0.7 percent to 35,765.62. Seoul's Kospi lost 0.7 percent to
2,502.11 and Sydney's S&P-ASX 200 shed 0.2 percent to 5,991.90. Benchmarks
in Taiwan, New Zealand and Southeast Asia gained.
CURRENCY: The dollar edged up to 110.83 yen
from Friday's 110.75 yen. The euro gained to $1.2242 from $1.2220.
ENERGY: Benchmark U.S. crude fell 2 cents to
$63.35 per barrel in electronic trading on the New York Mercantile Exchange.
The contract fell 58 cents the previous session. Brent crude, used to price
international oils, dropped 11 cents to $68.50 in London. It lost 70 cents the
previous session.The Total Investment
& Insurance Solutions
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