Contact Your Financial Adviser Money Making MC
10 January 2018
 |
| Japan financial markets (The Total Investment & Insurance
Solutions) |
Speculation that China may cut or even halt its purchases of U.S.
Treasurys weighed on stock markets Wednesday and sent the dollar sliding.
KEEPING SCORE: In Europe, Germany's DAX fell
0.8 percent to 13,280 while the CAC 40 in France declined 0.2 percent to 5,500.
The FTSE 100 index of leading British shares was steady at 7,729. U.S. stocks
were poised for a lower opening with Dow futures and the broader S&P 500
futures both down 0.4 percent.
CHINA CONCERN: In a report, the Bloomberg
news agency said unnamed officials in Beijing have recommended slowing or
actually halting purchases of U.S. Treasurys. Given that China is a major buyer
of U.S. Treasurys U.S. assets have taken a hit. The Total Investment & Insurance
Solutions
ANALYST TAKE: "If the reports turn out
to be true .... the repercussions could be significant as the country is one of
the biggest holders of U.S. debt," said Craig Erlam, senior market analyst
at OANDA. "A significant change in policy could put considerable upside
pressure on U.S. yields, the result of which would be an effective tightening
for the U.S."
The Total Investment & Insurance Solutions
DOLLAR: The dollar was hit hard by the
reports. The euro was up 0.6 percent at $1.2005 while the dollar fell 1.1 percent
to 111.39 yen.
JAPAN CENTRAL BANK: A drop in the scale of
long-term bond purchases by the Bank of Japan on Tuesday has triggered
speculation over further "tapering" of asset purchases. That pushed
the Japanese yen higher against the dollar, denting some exporters' shares. The Total Investment & Insurance
Solutions
THE DAY IN ASIA: Japan's Nikkei 225 index
lost 0.3 percent to 23,788.20 and the Kospi in South Korea lost 0.4 percent to
2,499.75. Australia's S&P ASX 200 slipped 0.6 percent to 6,096.70. The Hang
Seng index in Hong Kong climbed 0.2 percent to 31,073.72 and the Shanghai
Composite index added 0.2 percent to 3,421.83. The Total Investment & Insurance
Solutions
ENERGY: Benchmark U.S. crude oil rose 71
cents to $63.66 per barrel in electronic trading on the New York Mercantile
Exchange. Brent crude, the international standard, added 48 cents to $69.29 per
barrel.The Total Investment &
Insurance Solutions
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