|Day's range||26,794.61 - 27,076.67|
|52-week range||24,896.87 - 30,280.12|
The Nasdaq composite still finished with its second record high in three days, while the Dow Jones Industrial Average ended unchanged from the all-time high it set a day earlier. The S&P 500 crossed above the 3,100 level for the first time, placing the index on track for its own milestone finish, but the gains didn't hold. "There was some excitement on breaking 3,100, that perhaps we could continue higher on the S&P," said JJ Kinahan, chief market strategist at TD Ameritrade.
Hong Kong's share index lost almost 3% as unrest in the Asian financial hub worsened on Monday, with police firing live rounds at anti-government protesters on the eastern side of island and firing tear gas at protesters in the Central business district. Investor sentiment suffered after a police officer shot and wounded one protester before trading commenced. The market had already been set for a shaky start after U.S. President Donald Trump said on Friday he has not agreed to roll back tariffs on Chinese goods as Beijing suggested last week.
Chinese e-commerce giant Alibaba set a new sales record on Singles Day, the world’s largest 24-hour shopping event. The S&P;/ASX 200 Index posted its highest closing price since August 1, the same week it reached an all-time high closing value of 6845.
The dollar slid and global equity markets fell on Monday after U.S. President Donald Trump's remarks over the weekend suggested an end to the trade war with China was still not in sight, dashing recent investor optimism. Trump said on Saturday that the U.S.-Sino trade talks were moving along "very nicely" but more slowly than he would have liked. U.S. and Chinese officials last week said the two countries had agreed to roll back tariffs already in place in a "phase one" trade deal.
China’s exports and imports declined in October, Reuters reported citing data from the country’s customs released on Friday. In dollar terms, exports fell 0.9% while imports fell 6.4% from a year ago in October, but beat analysts’ forecasts.
Wall Street’s three main equities gauges closed at simultaneous record highs, and Treasury bonds sold off, following reports the US and China agreed in principle to remove some tariffs imposed during their trade spat. Bonds sold off, driving yields higher, as investors became more optimistic a resolution to the trade deal would revive global economic growth.
Both the Shanghai Composite Index and the Hang Seng Index closed with gains today. Also, Asian markets were in the green from the recent momentum.
Fresh optimism on trade negotiations and positive corporate earnings sent US stocks to a new record on Monday and pushed global equities indices higher. The S&P 500 advanced 0.4 per cent, extending last week’s all-time closing high for the index and driving a 22.8 per cent bull run so far this year, while indices in Europe and Asia also edged higher. on Sunday that he was “quite optimistic” the remaining obstacles in the first phase of US trade negotiations with China could be overcome soon, adding that the Chinese and US leaders still planned to meet this month.
Shares in ESR Cayman rose strongly in their trading debut in Hong Kong after the Warburg Pincus-backed warehousing company raised $1.6bn in the Asian finance hub’s second-biggest initial public offering of the year so far. that the company had increased the size of its IPO during the bookbuilding process amid strong demand from investors. If investment bankers choose to trigger an overallotment option, known as a green shoe, that would see another 15 per cent of shares offered to investors.
A private survey showed factory activity in China expanded in October with the Caixin/Markit PMI coming in at 51.7. Analysts polled by Reuters had expected the PMI number to come in at 51.0 from 51.4 for September.
In China, factory activity contracted for the sixth straight month in October. The official Purchasing Managers’ Index (PMI) came in at 49.3 for October. In the United Kingdom, Prime Minister Boris Johnson and main opposition leader Jeremy Corbyn begin their first full day of campaigning Thursday ahead of what promises to be a historic December election.
The S&P 500 fell from record highs on Thursday, tracking global stocks lower as fresh concerns over trade tensions between the US and China and a weak regional manufacturing report hit investor sentiment. A day after the Federal Reserve cut interest rates and signalled it was done easing monetary policy for the time being, the S&P 500 ended 0.3 per cent lower, paring losses that saw it down as much as 0.8 per cent earlier in the day. The Nasdaq Composite was down 0.3 per cent.
The S&P 500 closed 0.3 per cent higher on Wednesday, having been down about 0.2 per cent just before the release of the US central bank’s policy decision. The Nasdaq Composite rose 0.3 per cent. Treasuries rallied hard, dragging the yield on benchmark 10-year US Treasury 6.8 basis points lower to 1.7733 per cent, while that on the policy-sensitive two-year was down 3.8bp at 1.6036 per cent.
Embattled Hong Kong leader Carrie Lam said on Tuesday she expected the Asian financial hub to record negative economic growth this year, in part as a result of the unrest, according to Reuters.
Offsetting the fresh concerns over Brexit was an improvement in investor sentiment around ongoing negotiations between the United States and China. The International Monetary Fund released new projections last week that showed growth in Asian economies could be slower than expected.
U.S. Vice President Mike Pence delivered a speech Thursday on the future of the relationship between the United States and China, which was a slight disappointment for investors looking for a trade talk progress update.
Japan’s markets reopened after a holiday on Tuesday. Softbank shares tumbled 2.51%, as the Japanese tech giant struck a deal to take over the embattled WeWork.
On Saturday, Bank of Japan Governor Haruhiko Kuroda said the BOJ will “certainly” reduce short- to medium-term interest rates if needed to ease monetary policy. This suggests that deepening negative rates will be the primary tool to fight heightening overseas risks.