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23 April 2018
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| China financial markets (The Total Investment & Insurance Solutions) |
Global stock markets traded in narrow ranges Monday as investors awaited
fresh drivers following a volatile couple of months that has seen many shares
take a pounding on a series of concerns, including fears of a trade war between
the U.S. and China, and then recover amid a rebound in risk appetite.
KEEPING SCORE: In Europe, Britain's FTSE 100 was almost unchanged at
7,367 while Germany's DAX was steady at 12,536. The CAC 40 in France fell 0.1
percent to 5,410. U.S. stocks were poised for a similarly flat opening with Dow
futures and the broader S&P 500 futures unchanged.
NORTH KOREA: Much of the focus in financial markets relates to
geopolitical issues, especially in the run-up to a potential meeting between
U.S. President Donald Trump and North Korean leader North Korea's Kim Jong Un.
On Saturday, Pyongyang suspended further nuclear and intercontinental ballistic
missile tests and close its nuclear test site, a move that raised hopes in
Washington for a breakthrough in the upcoming nuclear negotiations. However,
the North's statement stopped short of suggesting it would give up its nukes or
halt production of missiles. That raises the question of what might come of a
meeting between the North Korean and South Korean President Moon Jae-in on
Friday.
ANALYST TAKE: "While markets do not seem as sensitive to the
potential conflict between the U.S. and North Korea recently, the potential for
a denuclearization would no doubt provide a boost for the Asian region in
particular," said Joshua Mahony, market analyst at IG.
"Interestingly, while this shift in geopolitical risk has done little to
boost stocks, we are seeing that improvement in risk attitudes reflected in
bond and prices, both of which have been pulling back."
ASIA'S DAY: Tokyo's Nikkei 225 fell 0.3 percent to 22,088.04 and South
Korea's Kospi shed 0.1 percent to 2,474.11. Hong Kong's Hang Seng declined 0.5
percent to 30,254.40 and the Shanghai Composite index dropped 0.1 percent to
3,068.01. Australia's S&P ASX 200 advanced 0.3 percent to 5,886.00.
ENERGY: Benchmark U.S. crude lost 16 cents to $68.25 per barrel in
electronic trading on the New York Mercantile Exchange while Brent crude, used
to price international oils, rose 4 cents to $74.10 per barrel.
CURRENCIES: The euro was down 0.4 percent at $1.2235 while the dollar
rose 0.5 percent to 108.15 yen.The
Total Investment & Insurance Solutions
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