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19 January 2018
 |
| Hong kong financial markets (The Total Investment & Insurance
Solutions) |
Stock markets rose Friday as investors looked past the threat of a
U.S. federal government shutdown and focused on a strong underlying economy.
The price of oil fell on a report saying U.S. production is set to rise further
above 50-year highs. The Total
Investment & Insurance Solutions
KEEPING SCORE: Germany's DAX was up 1.1 percent to 13,424 and France's
CAC 40 rose 0.5 percent to 5,521. Britain's FTSE 100 gained a more modest 0.3
percent to 7,720 after data showed retail sales fell sharply in the holiday
spending month of December. Wall Street was poised to open higher: Dow futures
added 0.3 percent and the broader S&P 500's futures edged up 0.2 percent.
SHUTDOWN: U.S. House lawmakers voted for a stopgap funding bill to keep
agency doors open and federal workers at their jobs until mid-February, but
Senate Democrats and some Republicans were expected to block it on Friday. A
shutdown could hurt consumer spending and rattle markets, though it's unlikely
to cause widespread economic damage, Credit Suisse economists said in a note on
Thursday. The Total Investment &
Insurance Solutions
TRADER TALK: Stephen Innes, head of Asia-Pacific trading at OANDA, said
that some investors maybe cautious about the U.S. shutdown "but in the
bigger scheme of things this case of hiccups is likely to pass as quickly as it
arrived."
GLOBAL OUTLOOK: Mostly, investors are driving stock indexes higher —
many to record highs — on optimism over the global outlook and corporate
earnings. Next week brings a raft of economic data along with meetings by the
Bank of Japan and the European Central Bank.
ASIA'S DAY: Japan's benchmark Nikkei 225 edged 0.2 percent higher to
23,808.06 and South Korea's Kospi gained 0.2 percent to 2,520.26. Hong Kong's
Hang Seng ended 0.4 percent higher at 32,254.89 while the Shanghai Composite in
mainland China added 0.4 percent to 3,487.86. Australia's S&P/ASX 200
dipped 0.2 percent to 6,005.80. Shares were mixed in Southeast Asia and
Taiwan's benchmark rose.
ENERGY: Oil futures retreated after the International Energy Agency said
U.S. oil production would rise strongly this year. Benchmark U.S. crude lost 67
cents to $63.28 a barrel in electronic trading on the New York Mercantile
Exchange. Brent crude, used to price international oils, sank 73 cents to
$68.58 a barrel.
CURRENCIES: The dollar weakened to 110.54 yen from 111.07 yen in late
trading Thursday. The euro strengthened to $1.2262 from $1.2237.The Total Investment & Insurance
Solutions
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