[In-depth] Global market wrap-up _ 061719
- 5 years ago
It's time now for an in-depth look at the global markets this afternoon, and for that I'm joined on the line by Dr. Hwang Seiwoon, research fellow at the Korea Capital Market Institute.
Dr. Hwang, thanks for coming on today.
You're welcome.
Stocks in New York ended last week down, with the U.S.-China trade war putting pressure on American chipmakers. Micron down more than 2 percent, Intel down more than 1 percent. Korean stocks down too. What's the story today?
Stocks ended lower on last Friday after a sharp decline in Broadcom shares put other chip-makers and the broader tech sector under pressure. The Dow closed 17 points lower. The S&P 500 declined by 0.15% as the tech sector dropped 0.8%. The Nasdaq lagged, falling 0.5%. Broadcom fell more than 5% after the chipmaker posted weaker-than-expected revenue for the previous quarter and cut its guidance for 2019, citing broad-based demand weakness and the U.S. crackdown on Huawei.
Asian shares showed a shaky start on Monday as investors were cautious ahead of a closely-watched Federal Reserve meeting, while political tensions in the Middle East and Hong Kong kept risk-appetite in check. Japan’s Nikkei added 0.21 percent, while Shanghai Composite rose 0.41 percent. South Korea’s KOSPI gained 0.04 percent as of close today.
The protests in Hong Kong continuing over the bill to allow extraditions to mainland China. Intrabank rates in Hong Kong as a result, rising to their highest rate in 11 years, and there have been warnings about Hong Kong's credit rating taking a hit. What effect are these protests having on the market?
Hong Kong’s markets may be in focus after the city’s chief executive suspended a controversial extradition bill, a move that failed to stem huge street protests Sunday. Liquidity shortages have helped send the Hong Kong dollar higher as political tensions rose this month.
Hong Kong is one of the most important financial markets in Asia & Pacific. So investors are paying quite good amount of attention to Hong Kong’s pro-democracy protests. Hong Kong’s protests could also affect the on-going trade dispute between the US and China, and this implies that if the political tension in Hong Kong become stronger, then it will reduce the investors’ risk appetite resulting in declines in stock prices.
Impact from the protests in Hong Kong could be different across the countries. It is expected that countries with high economic dependence on China will have larger impact from the protests.
Over in the U.S., the Fed is meeting this week. They'll be talking interest rates, of course, and also currency measures. So, the Fed meeting and what else should we be watching this week?
Here are some key events coming up this week:
Federal Reserve, the Bank of Japan and the Bank of England all set monetary policy this week. Fed meeting begins Tuesday with a decision and press conference the next day. Officials are expected to debate a rate cut to shelter the U.S. economy, in part, from the fallout caus
Dr. Hwang, thanks for coming on today.
You're welcome.
Stocks in New York ended last week down, with the U.S.-China trade war putting pressure on American chipmakers. Micron down more than 2 percent, Intel down more than 1 percent. Korean stocks down too. What's the story today?
Stocks ended lower on last Friday after a sharp decline in Broadcom shares put other chip-makers and the broader tech sector under pressure. The Dow closed 17 points lower. The S&P 500 declined by 0.15% as the tech sector dropped 0.8%. The Nasdaq lagged, falling 0.5%. Broadcom fell more than 5% after the chipmaker posted weaker-than-expected revenue for the previous quarter and cut its guidance for 2019, citing broad-based demand weakness and the U.S. crackdown on Huawei.
Asian shares showed a shaky start on Monday as investors were cautious ahead of a closely-watched Federal Reserve meeting, while political tensions in the Middle East and Hong Kong kept risk-appetite in check. Japan’s Nikkei added 0.21 percent, while Shanghai Composite rose 0.41 percent. South Korea’s KOSPI gained 0.04 percent as of close today.
The protests in Hong Kong continuing over the bill to allow extraditions to mainland China. Intrabank rates in Hong Kong as a result, rising to their highest rate in 11 years, and there have been warnings about Hong Kong's credit rating taking a hit. What effect are these protests having on the market?
Hong Kong’s markets may be in focus after the city’s chief executive suspended a controversial extradition bill, a move that failed to stem huge street protests Sunday. Liquidity shortages have helped send the Hong Kong dollar higher as political tensions rose this month.
Hong Kong is one of the most important financial markets in Asia & Pacific. So investors are paying quite good amount of attention to Hong Kong’s pro-democracy protests. Hong Kong’s protests could also affect the on-going trade dispute between the US and China, and this implies that if the political tension in Hong Kong become stronger, then it will reduce the investors’ risk appetite resulting in declines in stock prices.
Impact from the protests in Hong Kong could be different across the countries. It is expected that countries with high economic dependence on China will have larger impact from the protests.
Over in the U.S., the Fed is meeting this week. They'll be talking interest rates, of course, and also currency measures. So, the Fed meeting and what else should we be watching this week?
Here are some key events coming up this week:
Federal Reserve, the Bank of Japan and the Bank of England all set monetary policy this week. Fed meeting begins Tuesday with a decision and press conference the next day. Officials are expected to debate a rate cut to shelter the U.S. economy, in part, from the fallout caus