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15 June 2018
 |
| South korea financial markets (The Total Investment & Insurance
Solutions) |
KEEPING SCORE: Britain's FTSE 100 fell 0.7 percent to 7,707, while
France's CAC 40 added 0.1 percent to 5,535. Germany's DAX edged down 0.3
percent to 13,072. Futures augured a weak start on Wall Street. S&P futures
fell 0.4 percent while Dow futures dropped 0.6 percent. The Total Investment & Insurance Solutions
TARIFFS: Trump approved a plan to impose punishing tariffs on tens of
billions of dollars of Chinese goods as early as Friday. The White House has
yet to release a final list of products but a tentative version in April ran
the technology gamut from TVs and telecoms equipment to medications and
industrial chemicals. U.S. officials say the tariff hike targets goods that
might benefit from Chinese theft of technology or pressure on foreign companies
to hand it over in exchange for market access. The Total Investment & Insurance Solutions
ANALYST'S TAKE: "Ultimately a negotiated solution is likely,"
said Shane Oliver, head of investment strategy at AMP Capital. Even though
China and the U.S. probably want to negotiate, "the risks are high and the
tariffs could well be implemented before the issue is resolved."
EUROPE: The ECB on Thursday said it would phase out by the end of the
year its bond-buying stimulus for the 19 countries that use the euro. It had
deployed the program in 2015 to save the region from the risk of falling prices
and growth. It also said it plans to hold off on raising interest rates until
at least the summer of 2019, which is longer than some investors expected.
ASIA'S DAY: Asian stocks finished mixed. Japan's Nikkei 225 finished 0.5
percent higher at 22,851.75 but South Korea's Kospi retreated 0.8 percent to
2,404.04. Hong Kong's Hang Seng index declined 0.4 percent to 30,309.49 while
China's Shanghai Composite Index fell 0.7 percent to 3,021.90. Australia's
S&P-ASX 200 jumped 1.3 percent to 6,094.00. Stocks in Taiwan were higher,
while in Indonesia markets were closed for a holiday.
CURRENCIES: The dollar was flat at 110.65 yen and the euro strengthened
to $1.1591 from $1.1560. The Total
Investment & Insurance Solutions
OIL: Benchmark U.S. crude lost 20 cents to $66.69 per barrel in
electronic trading on the New York Mercantile Exchange. On Thursday, it rose 25
cents to settle at $66.89 per barrel. Brent crude, the international standard,
fell 92 cents to $75.02 per barrel. On Thursday, it fell 80 cents to $75.94.The Total Investment & Insurance
Solutions
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