In-depth: Global market wrap-up
- 5 years ago
It's time now for an in-depth look at the markets this afternoon.
And for that, I'm joined on the line by Mr. Daniel Yoo, global strategist at Yuanta Securities.
Mr. Yoo, thank you for coming on today.
Thank you.
The KOSPI is up today for a 13th session in a row. We're right back up to the 21-hundred level. What's going on in the Korean markets and elsewhere?
Kospi is up again slightly 0.3%. Kosdaq is down slightly by 0.3%
Chinese market Shanghai up 0.5%, Shenzhen up 0.9%.
Stocks fell Friday on news that Chinese officials were cutting short their visit to the U.S., dampening hope around trade negotiations between the two countries. The Dow Jones Industrial Average closed 159.72 points lower, or 0.6% at 26,935.07. The S&P 500 pulled back 0.5% to 2,992.09. The Nasdaq Composite dropped 0.8% to 8,117.67. The major indexes also snapped a three-week winning streak. The Dow and Nasdaq fell 1.1% and 0.7%, respectively, for the week. The S&P 500 lost 0.5% this week. Concern of economic recession put pressure on the stock market.
Germany's main share index fell over 1% on Monday, leading European markets lower after business activity readings from across the euro zone suggested growth had ground to a halt. Surveys showed growth in services and manufacturing in the euro zone, Germany and France had all stalled in September, fanning concerns of a slide towards recession and suggesting further support for the economy is required.
The U.S. and China wrapped up a new round of working level trade talks a few days ago... with no major breakthrough as far as we know. But it looks like there's some optimism out there nonetheless.
A China delegation had canceled a visit to U.S. farms in Montana, the Montana Farm Bureau said around midday Friday. Nicole Rolf, the Bureau's director of national affairs said the officials were headed back to China earlier than planned.
However, In the on-again, off-again world of trade talks, U.S. Treasury Secretary Steven Mnuchin said late Monday U.S.-China trade talks will resume in two weeks in Washington. During an interview with FOX Business' Lou Dobbs on "Lou Dobbs Tonight" on Monday, Mnuchin clarified how the trade negotiations are going. "The president's been very clear if we can get the right deal, he wants the deal," Mnuchin told Dobbs. "If we can't get the right deal, he's happy with the tariffs." Mnuchin touted how President Trump is the first president to take these issues head-on.
"As you know, the president not only likes tariffs, but he uses them strategically," Mnuchin said. "And he's right."
A report by state-backed media group Yicai quoted a Beijing senior agricultural representative as saying that China did not cancel the planned visits to the U.S. because of challenges in trade negotiations. The visits by Chinese officials to farms in Montana and Nebraska were unexpectedly called off, but now, Mnuchin stated the cancellation "was purely at our request.''
After Mnuchin explained the request to reschedule the farm
And for that, I'm joined on the line by Mr. Daniel Yoo, global strategist at Yuanta Securities.
Mr. Yoo, thank you for coming on today.
Thank you.
The KOSPI is up today for a 13th session in a row. We're right back up to the 21-hundred level. What's going on in the Korean markets and elsewhere?
Kospi is up again slightly 0.3%. Kosdaq is down slightly by 0.3%
Chinese market Shanghai up 0.5%, Shenzhen up 0.9%.
Stocks fell Friday on news that Chinese officials were cutting short their visit to the U.S., dampening hope around trade negotiations between the two countries. The Dow Jones Industrial Average closed 159.72 points lower, or 0.6% at 26,935.07. The S&P 500 pulled back 0.5% to 2,992.09. The Nasdaq Composite dropped 0.8% to 8,117.67. The major indexes also snapped a three-week winning streak. The Dow and Nasdaq fell 1.1% and 0.7%, respectively, for the week. The S&P 500 lost 0.5% this week. Concern of economic recession put pressure on the stock market.
Germany's main share index fell over 1% on Monday, leading European markets lower after business activity readings from across the euro zone suggested growth had ground to a halt. Surveys showed growth in services and manufacturing in the euro zone, Germany and France had all stalled in September, fanning concerns of a slide towards recession and suggesting further support for the economy is required.
The U.S. and China wrapped up a new round of working level trade talks a few days ago... with no major breakthrough as far as we know. But it looks like there's some optimism out there nonetheless.
A China delegation had canceled a visit to U.S. farms in Montana, the Montana Farm Bureau said around midday Friday. Nicole Rolf, the Bureau's director of national affairs said the officials were headed back to China earlier than planned.
However, In the on-again, off-again world of trade talks, U.S. Treasury Secretary Steven Mnuchin said late Monday U.S.-China trade talks will resume in two weeks in Washington. During an interview with FOX Business' Lou Dobbs on "Lou Dobbs Tonight" on Monday, Mnuchin clarified how the trade negotiations are going. "The president's been very clear if we can get the right deal, he wants the deal," Mnuchin told Dobbs. "If we can't get the right deal, he's happy with the tariffs." Mnuchin touted how President Trump is the first president to take these issues head-on.
"As you know, the president not only likes tariffs, but he uses them strategically," Mnuchin said. "And he's right."
A report by state-backed media group Yicai quoted a Beijing senior agricultural representative as saying that China did not cancel the planned visits to the U.S. because of challenges in trade negotiations. The visits by Chinese officials to farms in Montana and Nebraska were unexpectedly called off, but now, Mnuchin stated the cancellation "was purely at our request.''
After Mnuchin explained the request to reschedule the farm