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30 January 2018
 |
| Japan financial markets (The Total Investment & Insurance
Solutions) |
World stocks
skidded lower on Tuesday as investors turned cautious about recent record highs
and Wall Street suffered its biggest loss in over four months the day before. The
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KEEPING SCORE: The DAX in Germany lost 0.6 percent to 13,240 and
the CAC 40 in France shed 0.5 percent to 5,493. Britain's FTSE 100 gave up 0.7
percent to 7,616. S&P 500 futures fell 0.5 percent and Dow futures lost 0.9
percent, auguring a downbeat start on Wall Street. The
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THE DAY IN ASIA: Japan's Nikkei 225 index lost 1.4 percent to
23,291.97 and Hong Kong's Hang Seng dropped 1.1 percent to 32,607.29. South
Korea's Kospi sank 1.2 percent to 2,567.74. The Shanghai Composite index fell
0.8 percent to 3,488.01 and Australia's S&P ASX 200 gave up 0.9 percent to
6,022.80. India's Sensex lost 0.7 percent to 36,033.55. Shares also were lower
in Taiwan, Singapore and Indonesia. The Total Investment & Insurance
Solutions
ANALYST'S VIEWPOINT: "There was always a worry that sentiment
had got a little crazy, with a number of red flags around market euphoria being
highlighted by traders and strategists," Chris Weston of IG said in a
commentary.
UPBEAT DATA: Economic data was upbeat, showing the eurozone
economy grew in 2017 at its fastest pace in a decade. It expanded by 2.5 percent,
the highest since 2007. Some investors may worry that the strong growth could
convince some at the European Central Bank to wind down its monetary stimulus
program earlier than expected. The stimulus is credited by some as having
supported stock markets by making credit cheaper.
TRUMP: Also on investors' radar: Tuesday night's State of the
Union address by President Donald Trump, and a two-day meeting of the Federal
Reserve's policymaking committee that wraps up Wednesday. "This is one of
the few prepared speeches that the president will give, so the progress on
NAFTA and trade with China is something the market is going to watch
carefully," said Mike Baele, senior portfolio manager at U.S. Bank Private
Wealth Management.
ENERGY: Benchmark U.S. crude fell 66 cents to $64.90 a barrel in
electronic trading on the New York Mercantile Exchange. It lost 58 cents on
Monday. Brent crude, used to price international oils, dropped 42 cents to
$69.04 a barrel. It fell $1.06 on Monday. The Total Investment
& Insurance Solutions
CURRENCIES: The dollar, which fell sharply last week, declined to
108.69 yen from 108.96 yen late Monday. The euro rose to $1.2421 from $1.2383
following the strong economic data in the eurozone.
BITCOIN: The price of bitcoin fell 2.9 percent to $10,838 as early
afternoon in Europe, according to the tracking site CoinDesk. Bitcoin futures
on the Cboe Futures Exchange fell 1.5 percent to $11,040.The
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