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10 July 2018
 |
Hong kong financial markets (The Total Investment & Insurance
Solutions)
Global stock markets tracked Wall Street higher Tuesday amid waning
trade war fears and hopes about the upcoming U.S. corporate earnings reporting
season.
KEEPING SCORE: In Europe, France's CAC 40 was up 0.7 percent at 5,435
while the FTSE 100 index of British shares rose 0.2 percent to 7,704. Germany's
DAX was 0.7 percent higher at 12,624. U.S. stocks were poised for a solid
opening with Dow futures and the broader S&P 500 futures up 0.2 percent.
US OPTIMISM: U.S. stocks posted solid gains Monday, which helped global
markets. Investors appear to be optimistic about the upcoming earnings season
especially after last Friday's strong jobs report. That backdrop has helped
investors put fears of a global trade war to the back of their minds.
ANALYST TAKE: "With the prospect of a positive earnings' season
ahead of us, investors seem to have forgotten the threat of further trade
tensions so we remain optimistic for the short in equities," said
Konstantinos Anthis, Head of Research at ADSS.
ASIA'S DAY: Japan's benchmark Nikkei 225 added 0.7 percent to 22,196.89
and South Korea's Kospi gained 0.4 percent to 2,294.16. The Shanghai Composite
index finished 0.4 percent higher at 2,827.63. Hong Kong's Hang Seng dipped
less than 0.1 percent to 28,682.25. Australia's S&P/ASX 200 dropped 0.4
percent to 6,258.10.
CHINA INFLATION: China's inflation rate for June, released on Tuesday,
rose in line with market expectations. The National Bureau of Statistics
announced that the consumer price index was 1.9 percent in June from a year
earlier, up from 1.8 percent in May. There was little indication of the impact
of rising U.S. tariffs on Chinese products.
ENERGY: Benchmark U.S. crude rose 35 cents to $74.20 a barrel while
Brent crude, used to price international oils, 97 cents to $79.04 per barrel.
CURRENCIES: The euro was down 0.4 percent at $1.1709 while the dollar
0.4 percent rose to 111.27 yen.The
Total Investment & Insurance Solutions
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