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12 July 2018
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Japan financial markets (The Total Investment & Insurance
Solutions)
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Global stock markets recovered some of the previous day's losses
Thursday as investors weighed up the latest developments on a possible global
trade war.
KEEPING SCORE: In Europe, London's FTSE 100
rose 0.9 percent to 7,661 while Germany's DAX added 0.6 percent to 12,485.
France's CAC 40 gained 0.8 percent to 5,389. On Wednesday, the CAC 40 and DAX
both lost 1.5 percent while the FTSE 100 was off 1.3 percent. On Wall Street,
futures for the Dow Jones industrial average and Standard & Poor's 500
index were up 0.4 percent.
TRADE FOCUS: China's government said it will
take "firm and forceful measures" if the Trump administration goes
ahead with its threat of tariff hikes on an additional $200 billion of Chinese
goods. President Donald Trump has threatened to raise duties on almost
everything Americans buy from China. Beijing is running out of American goods
for retaliatory tariffs due to its lopsided trade balance, which means it might
impose other measures.
ANALYST TAKE: "While markets have typically reacted negatively to
any escalation on trade, the overall impact has been relatively modest under
the circumstances which suggests investors are far from panic mode right
now," said Craig Erlam, senior market analyst at OANDA. "Many agree
that tariffs will ultimately be bad for the global economy and therefore
markets but there still seems to be some hope that common sense will prevail and
a full blown trade war will be averted." The Total Investment & Insurance Solutions
ASIA'S DAY: The Shanghai Composite Index rose
2.2 percent to 2,837.66 and Tokyo's Nikkei 225 gained 1.2 percent to 22,187.96.
India's Sensex climbed 1 percent to 36,615.08 and Sydney's S&P-ASX 200
advanced 0.9 percent to 6,268.30. Hong Kong's Hang Seng gained 0.7 percent to
28,517.61 and Seoul's Kospi added 0.2 percent to 2,285.06. Benchmarks in Taiwan
and Southeast Asia also advanced, while New Zealand declined.
ENERGY: Benchmark U.S. crude gained 54 cents
to $70.92 per barrel in electronic trading on the New York Mercantile Exchange
while Brent crude, used to price international oils, gained 85 cents to $74.25
per barrel in London.
CURRENCY: The euro was up 0.1 percent at
$1.1654 while the dollar rose 0.5 percent at 112.46 yen.The Total Investment & Insurance Solutions
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