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17 Aug 2018
 |
South korea financial markets (The Total Investment & Insurance
Solutions)
World stock markets turned lower during European trading hours Friday as
investors worried again about Turkey's financial trouble, after Asian stocks
rose on news China is preparing to resume trade discussions with the U.S.
KEEPING SCORE: Britain's FTSE 100 fell 0.3
percent to 7,537 and the CAC 40 in France shed 0.3 percent to 5,332, while
Germany's DAX lost 0.7 percent to 12,156. The future contracts for the Dow
Jones industrial average and S&P 500 were both down 0.1 percent.
TURKEY: The country's currency fell again,
trading down about 5 percent, after the U.S. threatened to impose more
sanctions and Turkey said it would retaliate. The diplomatic dispute is about
an American pastor jailed in Turkey, and is worsening financial concerns about
Turkey, which has high debt and inflation. The country's problems are not
expected to pose a major threat to European or U.S. markets but investors have
become more cautious in the past week.
ASIA'S DAY: Earlier, Japan's Nikkei 225 index
added 0.4 percent to close at 22,270.38, while the Shanghai Composite index
shed 1.3 percent to 2,668.97. Hong Kong's Hang Seng gained 0.4 percent to
27,213.41 and India's Sensex jumped 0.8 percent to 37,957.33. In South Korea,
the Kospi gained 0.3 percent to 2,247.05. Australia's S&P ASX 200 picked up
0.2 percent to 6,339.20. Shares were higher in Taiwan, Thailand and Singapore
but fell in Malaysia.
CHINA TRADE: China will send a trade envoy to
Washington later this month in a fresh attempt to end the trade dispute before
it causes major damage to the global economy. The two sides haven't talked
since early June. After the latest round of talks failed to produce much
progress, both countries put taxes on $34 billion in each other's imports.
Those tariffs are set to rise next week, and both countries have threatened
even larger increases as early as September.
ENERGY: U.S. crude picked up 32 cents to
$65.78 per barrel in electronic trading on the New York Mercantile Exchange.
Brent crude, the standard for international oil prices, climbed 62 cents to
$72.05 per barrel.
CURRENCIES: The dollar fell to 110.46 yen
from 110.89 yen. The euro rose to $1.1393 from $1.1379.The Total Investment & Insurance Solutions
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