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17 January 2019
 |
| Financial Markets (The Total Investment & Insurance Solutions) |
Renewed worries over the U.S.-China trade spat weighed on global stock
markets on Thursday.
KEEPING SCORE: In Europe, Germany's DAX fell
0.5 percent at 10,880 and France's CAC 40 retreated 0.5 percent to 4,787.
Britain's FTSE 100 declined 0.7 percent to 6,818. Wall Street was set to fall
at the open with Dow futures and the broader S&P 500 futures down 0.4
percent.
US-CHINA TENSIONS: A Wall Street Journal
report, citing people familiar with the matter, said federal prosecutors were
investigating China's Huawei Technologies Ltd. for allegedly stealing trade
secrets from American companies including T-Mobile. The report said the
investigation resulted from several civil lawsuits against Huawei and an
indictment could be issued soon. This revived worries over relations between
the two countries as officials struggle to find a compromise ahead of the Mar.
1 end of a moratorium on raising tariffs against each other's exports.
Negotiators from both countries recently held trade talks in Beijing and more
high level negotiations are in the works.
ANALYST TAKE: "investors are worried by
a U.S. probe into Huawei and what that will mean for the trade talks between
America and China," said Connor Campbell, an analyst at Spreadex.
BREXIT: Traders in U.K. assets are also trying
to work out what's going on with regard to the country's upcoming exit from the
European Union. Though Prime Minister Theresa May saw her Brexit deal with the
EU overwhelmingly defeated by lawmakers, her government won a no-confidence
vote on Wednesday. Now she's holding meetings with others in parliament to see
if there is a Plan B. However, there are few signs that she's willing to drop
her red lines for any Brexit solution, suggesting that the discussions are
unlikely to make much headway. Still, the pound was up another 0.2 percent at
$1.2909 as traders think the prospect of a 'no-deal' Brexit have diminished.
ASIA'S DAY: Hong Kong's Hang Seng dropped 0.5
percent to 26,755.63 and the Shanghai Composite index lost 0.4 percent to
2,559.64. Japan's Nikkei 225 index edged 0.2 percent lower to 20,402.27 while
Australia's S&P ASX 200 rose 0.3 percent to 5,850.10. South Korea's Kospi
added 0.1 percent to 2,107.06. Shares rose in Taiwan, Thailand and Indonesia
but fell in Singapore.
ENERGY: Benchmark U.S. crude oil fell $1.05
to $51.24 per barrel in electronic trading on the New York Mercantile Exchange,
while Brent crude, the international standard, declined $1.03 to $60.29.
CURRENCIES: The euro was up 0.1 percent at
$1.1402 while the dollar fell 0.3 percent to 108.74 yen.The Total Investment & Insurance Solutions
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