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Japan financial markets (The Total Investment & Insurance
Solutions)
Shares were higher in Europe on Wednesday after a
day of losses in most Asian markets. Investors are looking ahead to Federal
Reserve meeting and to China-U.S. trade talks later in the week. The Total Investment & Insurance Solutions
KEEPING SCORE: Germany's DAX added 1.2 percent to
12,756.54 and the CAC 40 of France gained 0.2 percent to 5,533.29. The FTSE 100
climbed 0.6 percent to 7,563.82. The future for the Dow Jones industrial
average was flat at 24,072.00 while the future for the S&P 500 edged 0.1
percent higher.
ASIA'S DAY: Japan's Nikkei 225 index slipped 0.2 percent
to 22,472.78 and the Hang Seng in Hong Kong lost 0.3 percent to 30,723.88. The
Shanghai Composite index was nearly flat at 3,081.18 and South Korea's Kospi
gave up 0.4 percent to 2,505.61. Australia's S&P ASX 200 advanced 0.6
percent to 6,050.20. Shares were lower in Thailand and Singapore but edged
higher in Indonesia.
TRADE: Uncertainty over trade tensions between Washington
and Beijing is mounting as top U.S. officials prepare to head to Beijing for
talks aimed at defusing worsening tensions over the trade imbalance. The Trump
administration decision Monday to delay a decision on imposing tariffs on steel
and aluminum imports sidestepped a potential trade battle with Europe for now,
though but European Union leaders want a permanent exemption and say the delay
in resolving the issue is bad for business.
U.S. ECONOMY: U.S. manufacturing grew at a slower pace in
April, according to the Institute for Supply Management, a trade group of
purchasing managers. Many factories said shortages of workers and skills
affected their productivity. Meanwhile the Commerce Department said
construction spending fell in March as home building dropped sharply. The Total Investment & Insurance Solutions
SAMSUNG BIOLOGICS: South Korean biotech company Samsung
Biologics Co.'s shares plunged as much as 11 percent in Seoul after a regulator
said Samsung breached accounting rules. Samsung said it will defend itself and
has abided by accounting rules. At stake is whether or not the way Samsung
Biologics evaluated the value of its affiliate Samsung Bioepis violated rules.
ENERGY: Overnight, oil prices gave up some of their
recent gains. But they bounced back Wednesday in Asia, with benchmark U.S.
crude gaining 49 cents to $67.74 per barrel in electronic trading on the New
York Mercantile Exchange. It fell 1.9 percent to $67.25 a barrel in New York on
Tuesday. Brent crude, the international standard, added 28 cents to $73.41 per
barrel. It dropped 2.1 percent to $73.13 a barrel in London. The Total Investment & Insurance Solutions
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