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5 June 2018
 |
| Hong Kong financial markets (The Total Investment & Insurance
Solutions) |
Shares were mostly higher in Europe on Tuesday after a mixed day in
Asia, as strong economic data from China suggested global growth is on the
uptick.
KEEPING SCORE: European shares rose in early
trading. Germany's DAX rose 1.1 percent to 12,906.82 and France's CAC 40 added
0.6 percent to 5,505.34. Britain's FTSE 100 dropped 0.4 percent to 7,709.90.
Wall Street was poised to open higher. Dow futures added 0.2 percent to
24,851.00 and broader S&P 500 futures gained 0.2 percent to 2,751.00.
ASIAN SCORECARD: Japan's benchmark Nikkei 225
index rose 0.3 percent to 22,539.54 and South Korea's Kospi gained 0.3 percent
to 2,453.76. Hong Kong's Hang Seng rose 0.3 percent to 31,093.45. The Shanghai
Composite in mainland China gained 0.7 percent to 3,114.21, but Australia's
S&P/ASX 200 dipped 0.5 percent to 5,994.90. Taiwan's benchmark fell but
Southeast Asian indexes were mostly higher. The Total Investment & Insurance Solutions
POSITIVE DATA: China's Caixin Services PMI, a
survey of service industry purchasing managers, which was released early
Tuesday, had a reading of 52.9 for May. This was unchanged from the previous
month, indicating modest growth in the world's second largest economy. The
upturn appeared to be driven by domestic demand, while orders for Chinese
exports fell.
QUOTEWORTHY: "Investors are selling safe
havens and putting more into risky assets and equities. Data released in the
U.S and China has boosted Asian stocks," said Francis Tan, an economist at
UOB Bank.
ENERGY: Oil futures were mixed with
speculation that OPEC would raise supply at a summit later this month. U.S.
crude gave up 4 cent to $64.71 per barrel in electronic trading on the New York
Mercantile Exchange. The contract lost 1.6 percent to settle at $64.75 per
barrel on Monday. Brent crude, used to price international oils, lost 70 cents
to $74.59 in London.
CURRENCIES: The dollar rose to 109.77 yen
from 109.58 yen in late trading Monday. The euro weakened to $1.1697 from
$1.1719.The Total Investment &
Insurance Solutions
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