Daily Market News

[Pages:3]Daily Market News

5th February, 2020

The Dow Jones Industrial Average rose 407.82 points, or 1.44%, to 28,807.63, while the NASDAQ composite climbed 194.57 points, or 2.10%, to 9,467.97.

US stocks rallied by the most since August, amid expectations that central banks will continue to provide ample amounts of liquidity to reduce concerns about a growth slowdown. Investors appear to be taking some comfort from the measures Beijing has taken to contain the virus in Hubei province and to support economic growth. However, travel restrictions continue and business shutdowns are mounting, while Macau has decided to close casinos for two weeks.

US factory orders rose by 1.8% in December, higher than the market forecast of 1.2%, though the previous month's figure was revised lower.

US White House adviser Larry Kudlow said that the impact of the coronavirus on the US economy would likely be minimal and that factory stoppages in China could aid US production.

The US dollar fell against commodity currencies and the pound, while gaining against the euro and haven currencies.

The Reserve Bank of Australia left its benchmark interest rate unchanged yesterday, in line with market expectation. The central bank will adopt a "wait-and-see" approach to evaluate how its economy will be affected by a decline in China's economic growth. The central bank maintains its projection for the country's economic growth this year at around 2.75%.

New Zealand's unemployment rate fell from 4.1% in the third quarter of 2019 to 4.0% in the fourth quarter. Wage growth increased from 2.3% to 2.4% in the fourth quarter, which could help to return inflation to the Reserve Bank's 2% target. The New Zealand dollar climbed against the US dollar after the latest economic data was released.

Upcoming Key Economic Data

Date 02/05 02/05 02/05 02/05 02/06 02/07 02/07 02/07 02/07 02/08 02/10 02/11 02/12 02/12

Time 17:30 18:00 21:15 21:30 08:30

-21:30 21:30 21:30 04:00 09:30 17:30 09:00 18:00

Country UK EC US US AU CH US US CA US CH UK NZ EC

Event Markit/CIPS Composite PMI Retail Sales (MoM) ADP Employment Change Trade Balance (in USD) Retail Sales (MoM) Trade Balance (in USD) Change in Nonfarm Payrolls Unemployment Rate Unemployment Rate Consumer Credit (in USD) CPI (YoY) GDP (YoY) RBNZ Official Cash Rate Industrial Production (YoY)

Source: Bloomberg

Period Jan Dec Jan Dec Dec Jan Jan Jan Jan Dec Jan Q4 02/12 Dec

Survey 52.4 -1.1% 158K

-$48.2B -0.2% $38.10B 160K 3.5% 5.7% $15.000B 4.9%

-1.0%

--

Previous 52.4 1.0% 202K

-$43.1B 0.9%

$47.21B 145K 3.5% 5.6%

$12.513B 4.5% 1.1% 1.0% -1.5%

Historical Performance

Dow Jones Industrial Average

NASDAQ Composite Index

EUR/USD Daily Chart Source: Bloomberg

AUD/USD Daily Chart

Stock Highlights

Stock Name

Stock Code

Previous Closing Price

52- Week High

52-Week Low

HSBC Holdings

HKEX

Tencent Holdings Ltd.

China Construction Bank Ping An

0005 0388 0700 0939 2318

56.60 264.00 393.00

6.08 89.40

70.50 286.20 413.00

7.21 101.00

55.30 222.00 312.20

5.55 75.10

Daily Price Change

(%)

+0.18%

+1.38%

+3.42%

+1.16%

+2.05%

Year-todate Price

Change (%)

-6.98%

+4.35%

+4.63%

-9.66%

-2.93%

Source: Bloomberg

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