Daily Market News

[Pages:3]Daily Market News

13th September, 2018

The Dow Jones Industrial Average rose 27.86 points, or 0.11%, to 25,998.92, while the NASDAQ composite fell 18.25 points, or 0.23%, to 7,954.23.

US stocks were mixed as a slump in technology and financial shares offset optimism that trade talks with China will resume before the Trump administration imposes another round of tariffs. Chipmakers dropped earlier in trading after Goldman Sachs and Stifel downgraded several US companies in the business amid mounting industry concerns.

US producer prices unexpectedly fell in August, the first drop in 18 months, due to declines in costs for services and foods, a Labour Department report showed on Wednesday.

The US government has proposed another round of trade talks with Beijing to avoid further escalation in Donald Trump's trade war with China, the president's top economic adviser said. If agreed to by the Chinese, it is likely to take place in Washington.

US Treasuries rallied in general over yesterday's trading session, partially reversing Tuesday's aggressive selloff. An early catalyst for the rebound was soft PPI print, while a solid 10-year auction kept Treasuries well supported into the close of trading.

China's aggregate financing stood at CNY1.5 trillion in August. China's credit growth has been sluggish for months as a multi-year campaign to slow debt growth squeezed shadow banking and hurt people's appetite for risk. As the trade conflict with the US intensifies, policy makers have loosened monetary policy and eased regulatory requirements on banks to encourage lending.

Crude oil touched US$80 a barrel in London for the first time since May amid signs that global supplies are rapidly shrinking.

The US dollar suffered its biggest decline in almost three weeks, marred by soft US producer inflation numbers, while optimism about NAFTA negotiations and US-China relations helped boost the Australian dollar and other resource-dependent currencies.

Upcoming Key Economic Data

Date 09/13 09/13 09/13 09/14 09/14 09/14 09/17 09/17 09/17 09/18 09/19 09/19 09/20 09/20 09/20

Time 14:00 19:00 20:30 20:30 21:15 22:00 07:01 17:00 20:30 22:00 16:30 20:30 16:30 22:00 22:00

Country GE UK US US US US UK EU US US UK US UK US US

Event CPI (MoM) BoE Bank Rates CPI (MoM) Retail Sales Advance (MoM) Industrial Production (MoM) U. of Michigan Sentiment Rightmove House Prices (MoM) CPI (MoM) Empire Manufacturing NAHB Housing Market Index CPI (MoM) Housing Starts Retail Sales Ex Auto Fuel (MoM) Leading Index Existing Home Sales

Period Aug 09/13 Aug Aug Aug Sep Sep Aug Sep Sep Aug Aug Aug Aug Aug

Survey 0.1% 0.75% 0.3% 0.4% 0.3% 96.6

--24.0 66 -1232K -0.5% 5.35M

Previous 0.1% 0.75% 0.2% 0.5% 0.1% 96.2 -2.3% -0.3% 25.6 67 0.0% 1168K 0.9% 0.6% 5.34M

Source: Bloomberg

Historical Performance

Dow Jones Industrial Average

NASDAQ Composite Index

EUR/USD Daily Chart

Source: Bloomberg

AUD/USD Daily Chart

Stock Highlights

Stock Name

HSBC Holdings HKEX

Stock Code

Previous Closing Price

52- Week High

52-Week Low

0005 0388

66.65 209.60

86.00 306.00

66.10 207.40

Daily Price Change

(%)

+0.53%

-0.76%

Tencent Holdings Ltd.

0700

308.40

476.60

305.20

+0.13%

China Construction Bank

Ping An

0939 2318

6.35 72.25

9.39 98.55

6.33 58.67

-1.85% -1.37%

Year-todate Price

Change (%)

-16.64%

-12.59%

-24.04%

-11.81%

-10.91%

Source: Bloomberg

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