|Day's range||29,089.39 - 29,436.84|
|52-week range||25,199.86 - 33,484.08|
It’s a busy week ahead on the data front, though focus through the week will continue to be geo-political, with trade wars and the EU Summit to consider.
Oil prices and energy companies rallied Friday after OPEC said it will produce more oil, but not as much as investors feared. While trade tensions remained in the headlines, U.S. stocks finished slightly higher at the end of a bumpy week. U.S. crude futures jumped 4.6 percent after OPEC nations agreed to produce about 1 million additional barrels of oil per day.
China’s Shanghai Composite Index lost strength on Thursday and declined to fresh two-year low price levels. Carrying forward the weakness, the Shanghai Composite Index opened lower on June 22. However, the Shanghai Composite Index regained strength as the day progressed and closed higher.
Global stocks and oil prices were higher Friday as investors monitored OPEC's discussion on increasing crude production. Caution remained, however, over trade disputes between China and the U.S. as well ...
After declining for four consecutive trading days, China’s Shanghai Composite Index rebounded on Wednesday and broke the losing streak. However, the Shanghai Composite Index fell on June 21. The index opened the day lower and declined to fresh two-year low price levels.
Lingering worries about global trade tensions, renewed political concerns in Italy and a fresh slide for oil prices put world stock markets under pressure and helped drive US and German government bond prices higher. Sterling rose as speculation mounted that the Bank of England could raise interest rates as early as August.
Asia-Pacific equities were mixed in a choppy session on Thursday as markets struggled to find direction and investors mulled the impacts of a trade war between the US and China. In Hong Kong, the Hang ...
Asia-Pacific markets edged higher on Thursday as investors continued to mull the likely impacts from the simmering trade war between the US and China. The S&P/ASX 200 continued to outperform, up 1 per ...
Tobacco stocks rise on ratings callTobacco stocks were rising Wednesday. European stocks on Wednesday bounced off a nearly three-week low, staging a recovery as traders came to terms with the further deterioration in the trade relationship between the U.S. and China that sent equities world-wide tumbling in the prior session. A measure of calm was returning to equity markets, even though the U.S. and China were still locking horns on trade issues.
Ocado, tobacco stocks rise after analyst commentsShares of BP and rival oil producer Royal Dutch Shell were among Wednesday’s winners in U.K. trade. U.K. stocks rose on Tuesday, with tobacco companies among biggest gainers after a positive broker note, helping London’s blue-chip index bounce off a six-week low that it reached as trade tensions between the U.S. and China escalated. The FTSE 100 index (^FTSE) gained 0.3% to close at 7,627.40, partly recovering from a 0.4% loss on Tuesday.
The Nasdaq led as stocks rebounded briskly at Wednesday's open, after positive currency moves by China's central bank triggered gains across global markets. Winnebago[ticker symb=WGO] and Walgreens Boots[ticker symb=WBA] were early leaders. Netflix[ticker symb=NFLX] and Facebook[ticker symb=FB] took early leads among big tech names. Oracle's[ticker symb=ORCL] stock futures fell hard on earnings news. 21st Century Fox[ticker symb=FOX] and Walt Disney[ticker symb=DIS]...
Japanese equities were heading lower again in morning trade on Wednesday after a tumultuous Tuesday session left the Topix benchmark down 1.6 per cent but Australian stocks were buoyant after ending the ...
Following a weak performance for four weeks, China’s Shanghai Composite Index started this week on a weaker note and declined to two-year low price levels on Tuesday. Maintaining the weakness, the Shanghai Composite Index opened lower on Tuesday. However, the Shanghai Composite Index rebounded amid increased buying pressure and closed the day with limited gains.
Yi Gang, governor of the People’s Bank of China, on Tuesday evening called for investors to “stay calm and rational” and pledged that the central bank would “ensure liquidity and reasonable stability” after the Shanghai benchmark had dropped to a near-two-year low. The PBoC also injected a net Rmb40bn ($6.2bn) into China’s financial market on Wednesday morning, according to Reuters data. Chinese media also highlighted that dozens of mainland companies had pledged share buybacks, saying that this also helped stabilise stock prices.
The technology sector led the way higher on Wall Street — with the Nasdaq Composite index hitting a record high as Facebook climbed above $200 a share for the first time and Netflix ending just shy of a record closing peak. “President Trump’s threatened 10 per cent tariffs on $200bn of Chinese imports would be big enough to noticeably reduce US growth,” said Paul Shea, strategic economist at Miller Tabak.
Chinese equities slowed their descent on Wednesday in response to an outpouring of support from top officials and local media, which sought to reassure spooked investors in the wake of a sell-off prompted by new tariff threats out of Washington. The fall on Tuesday came in response to President Donald Trump ordering his administration to draft plans for tariffs on a further $200bn in Chinese imports should Beijing follow through on retaliatory tariffs planned in response to US duties on imports announced last week.
China-focused stocks were mixed as fears of a US-China trade war persisted and a stronger yen appeared to weigh on Japanese equities, with other equities benchmarks in the region notching decent gains. The Shenzhen Composite was up 0.4 per cent, however.
Asian stocks closed higher on Wednesday after regional markets tumbled on investor jitters over U.S.-China trade tensions in the last session.
The top White House trade adviser, Peter Navarro, says Beijing "may have underestimated the resolve of President Donald J. Trump" by refusing to meet U.S. demands on trade and by threatening to retaliate against American trade sanctions. Navarro, known for his hard-line approach to China, still says the U.S. is open to talks to resolve the dispute before it imposes tariffs on up to $450 billion in Chinese products. Navarro also disputes any notion that the trade standoff would damage the broader relationship with China.
China’s Shanghai Composite Index declined last week for the fourth consecutive trading week. China’s markets were closed on Monday for the Dragon Boat Festival holiday. Carrying forward the weakness, the Shanghai Composite Index opened lower on June 19 and declined to two-year low price levels.
share index fell to a two-year low, while the offshore renminbi hit a five-month trough against the dollar. “This tells us that, firstly, the market is still quite complacent about the effect of a trade war on the renminbi and/or the market still doesn’t believe recent developments will escalate and is hoping cooler heads will prevail,” she said.
if Beijing does not abandon its intention to retaliate against US duties on imports announced last week. In a statement issued late on Monday, Mr Trump said he had asked US trade officials to identify the further $200bn in goods from China to be subject to a 10 per cent tariff, and that he was prepared to impose tariffs on an additional $200bn beyond that. The US move marked a further escalation in the trade conflict between Beijing and the Trump administration, which have both already imposed tariffs on steel, aluminium and some agricultural goods and each promised further duties on $50bn in trade. China’s commerce ministry claimed the latest threat from Mr Trump was “blackmail” and warned of “strong countermeasures”.
Shares of ZTE sank after the U.S. Senate passed a defense bill that had implications for an agreement struck with the Chinese telecommunications equipment maker.
The Hang Seng index was off 1.3 per cent in early trading in Hong Kong, at its lowest since early May, while the Hang Seng China Enterprises index sank 1.6 per cent. The CSI 300 index of major Shanghai and Shenzhen linked stocks dropped 1.4 per cent. All three were resuming trade after a long weekend due to a market holiday on Monday. On Wall Street overnight, the S&P 500 slipped 0.2 per cent and the tech-heavy Nasdaq Composite ended little changed as the mood across markets remained unsettled by concerns about a further escalation of trade tensions between the world’s two biggest economies.
China’s Shanghai Composite Index declined in four out of five trading days last week and clocked the fourth consecutive weekly loss. Liquidity concerns in the market, weaker-than-expected economic data, and fears about a trade war with the US weakened China’s market sentiment last week. China’s markets are closed on Monday for the Dragon Boat Festival holiday.