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31 January 2018
 |
China financial markets (The Total Investment & Insurance
Solutions)
Global stock markets stabilized Wednesday after Wall Street recorded its
biggest decline since August the day before, and as investors looked ahead to
the Federal Reserve's policy statement.
The Total Investment & Insurance Solutions
KEEPING SCORE: Germany's DAX rose 0.2 percent
to 13,222 and France's CAC 40 gained 0.3 percent to 5,488 after new figures
showed the eurozone's inflation rate fell, suggesting the European Central Bank
may not be hasty in withdrawing its program. London's FTSE 100 fell 0.1 percent
to 7,582. On Wall Street, futures for the Dow Jones industrial average rose 0.6
percent and those for the Standard & Poor's 500 were up 0.4 percent. The Total Investment & Insurance
Solutions
WALL STREET: Losses in health care and
technology companies led U.S. stocks sharply lower. The slide erased some of
the gains the market had racked up since the beginning of the year, though the
market was still on track to close out January with a gain. The S&P fell
1.1 percent — its steepest one-day drop since Aug. 17. The Dow had its biggest
decline since May, losing 1.4 percent. The Nasdaq slumped 0.9 percent. The Total Investment & Insurance
Solutions
US FOCUS: The state of the union speech by
President Donald Trump did little to sway markets but investors will keep an
eye on the statement later by the Fed. The central bank is not expected to
alter its policies in the last meeting before Chair Janet Yellen ends her term,
but investors will keep an eye on its statement for any signs on how quickly it
might raise interest rates in the future.
ASIA'S DAY: The Shanghai Composite Index lost
0.2 percent to 3,480.83 and Tokyo's Nikkei 225 fell 0.8 percent to 23,098.29.
Hong Kong's Hang Seng rose 0.9 percent to 32,887.27 and Sydney's S&P-ASX
200 added 0.25 percent to 6,037.70. Seoul's Kospi shed 1.3 points to 2,566.46
and India's Sensex lost 0.5 percent to 35,863.61. Benchmarks in New Zealand,
Taiwan and Bangkok rose while Singapore and Manila declined. The Total Investment & Insurance
Solutions
MANUFACTURING: A monthly survey showed
January factory activity in China was lower than expected. The purchasing
managers' index of the official China Federation of Logistics & Purchasing
declined to 51.3 from December's 51.6 on a 100-point scale on which numbers
above 50 show activity expanding. However, Japan's factory output rose to a
nine-year high in December.
ENERGY: Benchmark U.S. crude fell 41 cents to
$64.09 per barrel in electronic trading on the New York Mercantile Exchange.
The contract plunged $1.06 on Tuesday. Brent crude, used to price international
oils, declined 35 cents to $68.67 in London. It lost 68 cents in the previous
session.
CURRENCY: The dollar edged up to 108.87 yen
from 108.78 yen and the euro advanced to $1.2455 from $1.2403.The Total Investment & Insurance
Solutions
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