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12 February 2018
 |
| China financial markets (The Total Investment & Insurance
Solutions) |
Global stock markets rose Monday and Wall Street was expected to open
higher after gains late Friday ended a turbulent week with a more upbeat mood.
KEEPING SCORE: In Europe, Germany's DAX jumped 1.8 percent to 12,324 and
France's CAC 40 advanced 1.4 percent to 5,152. London's FTSE 100 added 1.2
percent to 7,177. The future for the Dow Jones industrial average rose by an
unusually large 1.1 percent and that for the Standard & Poor's 500 index
gained 1 percent, suggesting a strong open. The Total Investment & Insurance Solutions
ASIA'S DAY: The Shanghai Composite Index rose 0.8 percent to 3,154.13
and Hong Kong's Hang Seng spent most of the day in positive territory before
losing 0.2 percent to close at 29,459.63. Japanese markets were closed for a
holiday. Seoul's Kospi rose 0.9 percent to 2,385.38 while Sydney's S&P-ASX
200 shed 0.3 percent to 5,820.70. India's Sensex advanced 0.6 percent to
34,192.50 and benchmarks in Taiwan, Singapore and Bangkok also gained.
WALL STREET: A late rally reversed steep losses Friday and lifted the
Dow Jones industrial average more than 300 points. The Dow gained 1.4 percent,
the S&P 500 rose 1.5 percent and the Nasdaq composite added 1.4 percent.
For the week, the three indexes finished down more than 5 percent. They're also
now all in the red for the year. The
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ANALYST'S TAKE: "Higher volatility will likely persist for a little
while," said Gaurav Saroliya of Oxford Economics in a report. "The
threat to valuation multiples is unlikely to remain as high as it seemed last
week. The current equity market turmoil is unlikely to dent continued strong
global economic growth. We still see 2018 as the best post-financial crisis
year."
U.S. BUDGET BATTLE: Legislators agreed on a $400 billion budget measure
after conflicts over immigration and other issues led to the second temporary
government shutdown in three weeks. The measure approved Friday increases
military spending and provides $89 billion for disaster relief.
WEEK AHEAD: Investors will watch U.S. inflation and retail sales figures
on Wednesday particularly closely. Inflation in particular will be of interest
as it could affect expectations of more rate increases the Federal Reserve —
fear of rate hikes had been one of the triggers of last week's stock market
sell-off. Japan reports economic growth on Wednesday and the United States
issues factory output data on Thursday.
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ENERGY: Benchmark U.S. crude gained 98 cents to $60.18 per barrel in
electronic trading on the New York Mercantile Exchange. The contract plunged
$1.95 on Friday. Brent crude, used to price international oils, advanced 80
cents to $63.59 in London. It fell $1.98 the previous session.
CURRENCY: The dollar declined to 108.63 yen from Friday's 108.79 yen.
The euro gained to $1.2269 from $1.2251.The
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