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16
April 2018
 |
Japan financial markets (The Total Investment & Insurance
Solutions)
Global stock markets were stable and the price of oil fell Monday as
investors seemed convinced that U.S.-led air strikes on Syria would not
escalate but remained cautious about tensions with Russia.
KEEPING SCORE: Germany's DAX was flat at 12,440, while the CAC 40 in
France was down 0.1 percent at 5,309. The FTSE 100 in Britain dropped 0.4
percent to 7,230. Futures for the S&P 500 and Dow Jones industrial average
climbed 0.6 percent, pointing to early gains on Wall Street.
ASIA'S DAY: Japan's Nikkei 225 index rose 0.3 percent to 21,835.53, but
Hong Kong's Hang Seng dropped 1.6 percent to 30,315.59 and the Shanghai
Composite index sank 1.5 percent to 3,110.65. South Korea's Kospi edged 0.1
percent higher to 2,457.49 and Australia's S&P ASX 200 picked up 0.2
percent to 5,841.30. Shares fell in Taiwan and Singapore and rose in Indonesia.
MIDDLE EAST: The leaders of Russia, Iran and the Hezbollah group in
Lebanon said Sunday that Western airstrikes on their ally Syria, targeting its
chemical weapons program, have complicated prospects for a political settlement
to the country's seven-year conflict. Meanwhile, President Donald Trump on
Sunday defended his use of the phrase "Mission Accomplished" to
describe the U.S.-led missile attack, while his aides stressed continuing U.S.
troop involvement and plans for new economic sanctions against Russia for
enabling the government of Bashar Assad.
The Total Investment & Insurance Solutions
ANALYST VIEWPOINT: "The markets are taking the surgical strike at
the heart of Syria's chemical weapon program in stride as traders had priced in
this outcome with a high degree of probability," Stephen Innes of OANDA
said in a commentary. He added: "With trade war and now Syria fatigue
likely to set in, however, it's best not to get too comfortable at this point
as market risk sentiment swings will remain large this week."
ENERGY: Oil prices fell back from spikes last week on fears over an
escalation of strife in the Middle East, with U.S. benchmark crude falling 72
cents to $66.67 per barrel in electronic trading on the New York Mercantile
Exchange. Brent crude, which is used to price international oils, fell 81 cents
to $71.77 per barrel.
CHINA TRADE: The Trump administration on Friday targeted China and five
other countries including allies Japan and South Korea for special monitoring
for what the administration says are practices that are worsening America's
trade deficit. But the impact on financial markets in Asia was limited as it
comes at a time of even harsher threats of U.S. penalty tariffs on China and
other nations. The U.S. government is also expected to announce new sanctions
against Russia over its involvement in Syria. The Total Investment & Insurance Solutions
CHINA ECONOMY: Chinese shares declined ahead of the release of economic
growth data that are expected to show the economy overshooting the official
target to sustain a 6.8 percent annual pace in the first quarter of the year.
Good news could lead regulators to tighten monetary policy, hurting share
prices. Tuesday's report of monthly figures for March, the first since the
lunar new year holidays, will provide fresh insights into conditions across the
world's No. 2 economy. The Total
Investment & Insurance Solutions
WPP: Shares in WPP, the world's largest ad agency, fell as much as 5.6
percent on Monday after its CEO, Martin Sorrell, resigned over an investigation
into personal misconduct. Analysts say his departure could leave the company he
founded three decades ago rudderless, but could also see parts sold off for
higher value. The Total Investment
& Insurance Solutions
CURRENCY: The dollar was trading at 107.23 yen, down from 107.36 yen
late Friday. The euro edged higher, to $1.2364 from $1.2333.The Total Investment & Insurance
Solutions
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