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12 November 2018
 |
| financial markets (The Total Investment & Insurance Solutions) |
Global markets were subdued Monday as the price of oil rose and investors looked to the release of economic data by the U.S. and China that could show the effects of a trade dispute between the world's two biggest economies.
KEEPING SCORE: Germany's DAX lost 0.8 percent
to 11,442 while Britain's FTSE 100 shed 0.1 percent to 7,099. France's CAC 40
lost 0.2 percent to 5,098. Wall Street appeared set for a weak opening. Futures
for the S&P 500 index were 0.1 percent lower while Dow futures dropped 0.2
percent.
ASIA'S DAY: Japan's Nikkei 225 added 0.1
percent to 22,269.88. Hong Kong's Hang Seng rose 0.1 percent to 25,633.18. The
Shanghai Composite index rebounded 1.2 percent to 2,630.52 after closing lower
every day last week. Australia's S&P-ASX 200 gained 0.3 percent to
5,941.30. The Kospi in South Korea dipped 0.3 percent to 2,080.44. Shares were
flat in Thailand but were lower in Singapore, Thailand, Indonesia and the Philippines.
GLOBAL GROWTH: Markets are watching for the
release of U.S. inflation data by the Labor Department on Wednesday, which
zeros in on consumer prices. A high figure could bolster expectations of rate
increases by the Federal Reserve. In Asia, traders are awaiting industrial
production data from China and Japan. They will be looking for indications of a
recovery in the Chinese economy, where auto sales fell for the fourth straight
month in October. Concerns over China's softening economic growth and its simmering
trade dispute with the U.S. have weighed on global stock markets.
ANALYST'S TAKE: "It is a data-centric
week this week where U.S. CPI is expected to be the highlight for hints on the
Fed and also the wider market, particularly the greenback," Jingyi Pan of
IG said in a market commentary.
ENERGY: Oil futures rose on news that major
producers planned to reduce output. Saudi Arabian energy minister Khalid
al-Falih said Sunday that the kingdom will reduce exports by around 500,000
barrels a day from November to December. Russian oil minister Alexander Novak
said at a meeting of oil producers in Abu Dhabi that his country was open to
cuts. Benchmark U.S. crude bounced back from 10 days of losses, adding 34 cents
to $60.53 per barrel on the New York Mercantile Exchange. The contract shed 48
cents to $60.19 in the previous session. Brent crude, used to price
international oils, picked up 87 cents to $71.05. It fell 47 cents to $70.18 in
London.
CURRENCIES: The dollar strengthened to 113.90
yen from 113.83 yen late Friday, while the euro fell to $1.1257 from $1.1345.
The pound slumped to $1.2872 from $1.2974 amid concerns that Britain's
government is struggling to find unity on a Brexit deal.The Total Investment & Insurance Solutions
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