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16 May 2018
 |
| Japan financial markets (The Total Investment & Insurance
Solutions) |
Global stocks traded in narrow ranges Wednesday as
China-U.S. trade talks, North Korea's cancellation of meetings with South Korea
and weaker than expected Japanese economic growth weighed on sentiment.
KEEPING SCORE: In Europe,
Germany's DAX was up 0.1 percent at 12,988 while the CAC 40 of France fell 0.1
percent to 5,550. Britain's FTSE 100 rose 0.1 percent to 7,729. Wall Street was
poised to open steady with Dow futures and the S&P 500 futures down 0.1
percent. The Total Investment &
Insurance Solutions
NORTH KOREA: North Korea
canceled a high-level meeting with South Korea, threatening to scrap a historic
summit next month between President Donald Trump and North Korean leader Kim
Jong Un over military exercises between Seoul and Washington that Pyongyang has
long claimed are rehearsals for invasion. The Total Investment & Insurance Solutions
TRADE TALKS: As the
Trump administration resumes talks in Washington with senior Chinese officials
seeking to ward off a trade war between the world's two biggest economies,
American companies were seeking relief from tariffs the president has
threatened to impose on at least $50 billion in Chinese goods.
JAPAN ECONOMY: Japan's
economy contracted at an annualized rate of 0.6 percent in the January-March
quarter, as private investment and public spending declined, according to
Cabinet Office data released Wednesday. The latest data showed consumer
spending was flat — long a challenge in a country where wages have stagnated
for decades. The Total Investment &
Insurance Solutions
QUOTABLE: "Trade
friction between the U.S. and other major countries ... including China, and
prolonged negotiations could weigh on demand for Japanese machinery and
electric parts and devices, and delay the recovery in exports," Nobumasa
Takeuchi of IHS Markit said in a commentary.
ASIA'S DAY: Japan's
Nikkei 225 stock index lost 0.4 percent to 22,712.23 and the Kospi in South
Korea edged less than 0.1 percent higher to 2,459.82. Hong Kong's Hang Seng
slipped 0.1 percent to 31,110.20, but the S&P ASX 200 added 0.2 percent to
6,107.00. The Shanghai Composite index dropped 0.7 percent to 3,169.57. The Total Investment & Insurance
Solutions
ENERGY: Benchmark U.S.
crude oil gave up 34 cents to $70.97 per barrel in electronic trading on the
New York Mercantile Exchange while Brent crude, used to price international
oil, shed 67 cents to $77.76 a barrel in London.
CURRENCY: The euro fell
0.5 percent to $1.1766 while the dollar declined 0.2 percent to 110.17 yen.The Total Investment & Insurance
Solutions
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