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24 May 2018
 |
| Japan financial markets (The Total Investment & Insurance Solutions) |
World
stock markets were subdued Thursday as carmakers' shares fell after the Trump
administration said it was investigating imposing new tariffs on imports of
autos and auto parts.The
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KEEPING SCORE: Germany's DAX was flat at 12,975 and the CAC 40 in France
rose 0.4 percent to 5,589. The FTSE 100 in Britain was down 0.1 percent at
7,782. Futures for the S&P 500 were flat while the Dow futures edged down
less than 0.1 percent.The
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TRUMP ON TRADE: China, Japan and the European Union condemned the Trump
administration's decision to launch an investigation into whether tariffs are
needed on imports of vehicles and automotive parts into the United States.
Toyota Motor Corp.'s shares fell 3.1 percent while Honda Motor Co's shares
dropped 3.4 percent. Daimler's shares fell 3 percent, BMW's 2.9 percent and
Volkswagen's 2.7 percent.The
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ANALYST'S PERSPECTIVE: "Fasten up as this will surely get bumpier
with tariffs, NAFTA and North Korea dominating headlines still," Stephen
Innes of OANDA said in a commentary. "The underperformance of emerging
market currencies and heightened global geopolitical risks should continue to
wear on investors risk appetite." The Total Investment & Insurance Solutions
DEUTSCHE BANK LAYOFFS: Germany's struggling Deutsche Bank said it is
cutting its workforce from 97,000 to below 90,000 as it reshapes its stocks
trading operation and refocuses its global investment banking business on its
European base. It said the reductions were already underway. Shares in the bank
were down 2.3 percent.
The Total Investment & Insurance Solutions
ASIA'S DAY: Japan's Nikkei 225 index fell 1.1 percent to 22,437.01 and
the Kospi in South Korea slipped 0.2 percent to 2,466.01. Australia's S&P
ASX 200 edged 0.1 percent higher to 6,037.10 and the Shanghai Composite index
lost 0.5 percent to 3,154.65. Shares rose in Indonesia, Taiwan and Singapore
but fell in Thailand.
ENERGY: Benchmark U.S. crude lost 73 cents to $71.11 per barrel in
electronic trading on the New York Mercantile Exchange. It lost 36 cents to
$71.84 per barrel on Wednesday. Brent crude, used to price international oils,
fell 77 cents to $79.03.
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