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14 January 2019
 |
| Financial Markets (The Total Investment & Insurance Solutions) |
Shares were lower in Europe and Asia on Monday, extending the latest
losses on Wall Street after China reported a slowdown in exports.
KEEPING SCORE: Germany's DAX lost 0.9 percent to 10,791.30 and the CAC
40 in France fell 1 percent to 4,734.02. The FTSE 100 in Britain dropped 1
percent to 6,847.09. Wall Street looked set for a downbeat start to the week
with the Dow future contract down 1 percent and the contract for the S&P
500 also 1 percent lower.
THE DAY IN ASIA: Hong Kong's Hang Seng index lost 1.4 percent to
26,298.33 while the Shanghai Composite fell 0.7 percent to 2,535.77. The Kospi
in South Korea declined 0.5 percent to 2,064.52 and Australia's S&P ASX 200
was flat at 5,773.40. India's Sensex dropped 0.4 percent to 35,853.56. Shares
also fell in Taiwan and Southeast Asia. Japan's markets were closed for a
holiday.
CHINA TRADE: China said Monday that its exports to the U.S. contracted
in December although its overall trade surplus with the U.S. hit a record $323
billion in 2018. Exports to the U.S. rose 11.3 percent to $478.4 billion for
the year despite punitive tariffs imposed by President Donald Trump in a fight
over Chinese technology ambitions. The customs data showed imports of American
goods rose just 0.7 percent over 2017, reflecting the impact of Beijing's
retaliatory tariffs and encouragement to importers to buy more from non-U.S.
suppliers.
ANALYST'S VIEWPOINT: "Risk has continued to veer averse today as
pre-earnings jitters amid a torrent of turbulent crosscurrents have investors
adopting a more defensive approach even after the Fed indicated patience on
further rate hikes," Stephen Innes of Oanda said in a commentary.
BREXIT TALK: British Prime Minister Theresa May planned to tell
lawmakers Monday that she has received further assurances about her Brexit deal
from the European Union, in a last-ditch attempt to stave off a crushing defeat
for the unpopular agreement. May was due to make a statement in the House of
Commons on the eve of a vote set for Tuesday in Parliament on her EU divorce
deal. She contends that defeating the deal could open the way for pro-EU
legislators to block Brexit, with "catastrophic" results for Britons'
faith in democracy.
ENERGY: Benchmark U.S. crude oil gave up 97 cents to $50.62 per barrel
in electronic trading on the New York Mercantile Exchange. It lost 1.9 percent
to settle at $51.59 per barrel on Friday. Brent crude, the international
standard, lost $1.01 to $59.47 per barrel. It sank 1.9 percent to $60.48 a
barrel in London.
CURRENCIES: The dollar was trading at 108.11 yen, down from 108.48 yen
on Friday. The euro slipped to $1.1457 from $1.1466.The Total Investment & Insurance Solutions
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