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19 February 2019
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| Financial Markets (The Total Investment & Insurance Solutions) |
Stock mostly fell in Europe and Asia on Tuesday and U.S. markets
looked set to open lower as Chinese and U.S. negotiators geared up for trade
talks in Washington.
Germany's DAX fell 0.4 percent to 11,256 while the CAC 40 in France
slipped 0.5 percent to 5,141. Britain's FTSE 100 sank 0.7 percent to 7,168.
With U.S. markets preparing to reopen after the President's Day holiday,
the future contract for the Dow Jones Industrial Average lost 0.4 percent to
25,798 and that for the S&P 500 also slipped 0.3 percent to 2,767.
Vice Premier Liu He, China's economy czar, was due to arrive in
Washington on Thursday, China's state media reported, after two days of
preliminary talks by lower-level officials.
A truce between the U.S. and China on increased American tariffs on
Chinese good expires March 2, leaving the U.S. free to more than double its
import taxes on $200 billion in Chinese goods.
U.S. President Donald Trump has said he may hold off on these if the
country was close to a deal with China.
Analysts said much is riding on the outcome of the trade talks after an
inconclusive end to an earlier round in Beijing last week.
"Without sounding like a damp squib, there is now a vast amount of
optimism baked into currency, stock and energy market prices globally and
precisely zero concrete detail," Jeffrey Halley, senior market analyst for
OANDA, said in a commentary.
"The unwind, should no deal be struck, could be very ugly," he
said.
The U.S. is wrangling over trade with many nations. On Monday, the
European Union warned that the bloc will hold back on a commitment to buy more
American soybeans and liquefied gas if European cars are hit with punitive
tariffs.
ASIA'S DAY: The Shanghai Composite index edged 0.1 percent higher to
2,755.65, while Japan's Nikkei 225 edged 0.1 percent higher to 21,302.65.
Australia's S&P ASX 200 climbed 0.3 percent to 6,106.90 and the Hang Seng
in Hong Kong gave up 0.4 percent to 28,228.13. South Korea's Kospi lost 0.2
percent to 2,205.63. Shares were mostly higher in Southeast Asia.
CHINA AUTO SALES: China's auto sales fell for an eighth month in
January, extending a painful decline for the biggest global market as demand
cooled amid a slowing economy and tariffs standoff with the U.S. Purchases of
sedans, SUVs and minivans fell 15 percent from a year earlier to just over 2
million vehicles, according to an industry group, the China Association of
Automobile Manufacturers.
ENERGY: U.S. crude added 48 cents to $56.07 per barrel in electronic
trading on the New York Mercantile Exchange. It gained $1.19 on Monday. Brent
crude, used to price international oils, lost 16 cents to $66.34 per barrel.
CURRENCIES: The dollar strengthened to 110.77 yen from 110.60 yen on
Monday. The euro slipped to $1.1280 from $1.1309.The Total Investment & Insurance Solutions
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