Global Stocks Edge Higher

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Global shares boosted on Tuesday as stocks in the tech industry settled higher on Monday and as the concerns over North Korea alleviate.

Asian Stocks

Asian stocks rose to almost two-year highs with MSCI’s broadest index of Asia- Pacific shares outside Japan gaining 0.3 percent to 149.40 while Japan’s Nikkei 225 (N225) got a 0.7 percent increase to ¥19,452 ($173.45).

South Korea’s tech giant Samsung Electronics earned 0.6 percent to  ₩2,245 on Monday providing the country’s KOSPI (KS11) a 0.6 percent closing high to ₩2,219 ($1.96).

Taiwan Semiconductor Manufacturing closed 1 percent higher to $33.40.

Hong Kong’s Hang Seng (HSI) increased 0.1 percent to HK$24,659 ($3,168) while Shanghai’s Composite Index (SSEC) closed with a 0.3 percent decline to CN¥3,143 ($455.73) on Tuesday.

Tencent Holdings was up 1.8 percent to HK$248 ($31.87) on Monday.

India’s Nifty 50 (NSEI) got a 0.07 percent gain to ₹9,310 ($145.05) whereas BSE Sensex 30 (BSESN) was down 0.10 percent to ₹29,887 ($465.64).

Jakarta’s Stock Exchange Composite Index (JKSE) was up 0.04 percent to Rp5,687 ($4.27).

Australia’s S&P/ASX 200 (AXJO) ended its session with a 0.10 percent cut to AU$5,950 ($4,480).

European Stocks

European shares are growing as well on Tuesday after the market holiday on Monday with Britain’s FTSE 100 (FTSE) gaining 0.4 percent to £7,237 ($9,311) and Germany’s DAX (GDAXI) going up by 0.2 percent to €12,468 ($13,601).

France’s CAC 40 (FCHI) also rose 0.2 percent to €5,277 ($5,760) while Italy’s FTSE MIB (FTMIB) earned 0.5 percent to €20,727 ($22,621).

Euro Stoxx 50 (STOXX50E) was up 0.08 percent to €3,563 ($3,889) on Tuesday.

Spain’s IBEX 35 grew 0.4 percent to €10,764 ($11,747).

US Stocks

Wall Street indices on Monday presented S&P 500 (SPX) with a 0.1 percent high to $2,388 while the NASDAQ Composite (IXIC) gave a record closing high of 0.7 percent to $6,091.Nasdaq 100 (NDX) also rose 0.8 percent to $5,629.

However, Dow Jones Industrial Average (DJI) closed the session on Monday with a 0.1 percent cut to $20,913. The US Dollar Index is steady at $98.98.

According to Yukino Yamada, strong demand for various products associated with the so-called Internet of Things (IoT) in which standard products are connected to networks, are what supporting the hi-tech demand.

The world’s five tech giants by market capitalization all received gains within one day with Amazon Inc on the lead gaining as much as 2.5 percent to $948 followed by Google parent Alphabet Inc receiving 0.9 percent boost to $932.

Tagging along Google was Apple Inc. raising 2.04 percent to $146 who was then followed by Facebook Inc with 1.47 percent high to $152.

Concerns over North Korea’s nuclear program eased on Monday due to US President Donald’s Trump statement on Monday saying that he would be willing to meet with North Korean leader Kim Jong Un but under the right circumstances.

Commodities

Even though tensions over the North Korean peninsula has alleviated, gold futures is still gaining on Tuesday with 0.08 percent high to $1,256. Silver also edged up 1 percent to $17.023 while copper fell 1 percent to $2.626.

Oil prices were also up with crude WTI adding 0.3 percent to $48.99 a barrel while Brent rose 0.5 percent to $51.78 a barrel.

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Dollar Stable, Global Stock Markets Mixed Following Trump’s Tax Plan

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Following US President Donald Trump disclosure of his tax reform plan, the dollar remained stable versus other major currencies while global stock markets encountered a drawback on Thursday.

USD Against a Basket of Currencies

Investors are also looking forward to the European Central Bank’s (ECB) announcement regarding monetary policy later in the day.

EUR/USD was down 0.02 percent from1.0905 to 1.0881and was under a five-month peak of 1.0951 hit on Wednesday.

The dollar found support subsequent to President Trump’s confirmation that his plan would reduce the tax rate for public firms and a good number of small companies to 15 percent cutting more than half of the present 35 percent corporate rate. It would also make significant changes to the individual-tax system.

However, the plan labeled as the biggest cut in history by the administration provided no specific details on how it will be paid for without raising the debit which many analysts think is easier said than done.

British Pound US Dollar (GBP/USD) rose 0.3 percent to 1.2887 on Thursday after meeting a six-month peak of 1.2915 overnight.

US Dollar Japanese Yen (USD/JPY) was also up 0.3 percent to 111.46 while the US Dollar Swiss Franc (USD/CHF) rose 0.1 percent to 0.9949.

Japan’s central bank retained its monetary policy unchanged and projected steady growth for the country’s economy.

The Australian Dollar US Dollar (AUD/USD) lost 0.1 percent from 0.7476 to 0.7460 whereas the New Zealand Dollar US Dollar (NZD/USD) fell 0.03 percent from 0.6884 to 0.6862.

As a result of President Trump’s announcement to the leaders of Canada and Mexico that he will not yet end the North American Free Trade Agreement (NAFTA) but will renegotiate it with them instead, the US Dollar Canadian Dollar (USD/CAD)dropped 0.1 percent to 1.3596 after raising to fresh a 14-month increase of 1.3648 overnight while the US Dollar Mexican Peso (USD/MXN) slipped 0.5 percent to 19.0779.

The US dollar index was up 0.1 percent to 99.01.

Global Stocks

Meanwhile, global stocks were mixed on Thursday as limited details regarding Trump’s tax reform plan discourage investors and anxiety growing for ECB’s monetary policy decision.

Keeping score, European shares fell in early trading. France’s CAC 40 (FCHI) slipped 0.2 percent to 5,274 while Germany’s DAX (GDAXI) dropped 0.07 percent to 12,464 and Britain’s FTSE 100 (FTSE) was down 0.5 percent to 7,250.

Euro Stoxx 50 (STOXX50E) also lost 0.3 percent to 3,567. Euro index was pulled back by 0.1 percent to 88.06.

US shares were mixed with Dow Jones Industrial Average (DJI) raising 0.08 percent to 20,991 while S&P 500 Futures was up 0.1 percent to 2,385.

Asian equities dropped from a near two-year raise on Thursday with Japan’s Nikkei 225 (N225) down by 0.1 percent to 19,251 at the end of its session.

China’s Shanghai Composite (SSEC) boosted 0.3 percent to 3,152 on its last session while Hong Kong’s Hang Seng (HSI) closed with a 0.4 percent high to 24,698.

Australia’s S&P/ASX 200 (AXJO) was up 0.1 percent to 5,921.

Following Samsung Electronics’ good news, South Korea’s KOSPI (KS11) got a 0.07 percent boost to 2,209 on Thursday.

MSCI’s AC Asia Pacific Index outside Japan increased 0.3 percent to 149.33.

Commodities

Commodities were mostly down on Thursday excluding gold with a 0.1 percent gain to 1,266 while silver futures slipped0.1 percent to 17.407 and copper losing 0.1 percent to 2.598.

Benchmark US Crude oil edged down 2 percent to 48.57 a barrel while Brent also lost 2 percent to 51.32.

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Stock Markets Recover as French Vote Eases

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Stocks in Asia, Europe and the US started to regain the momentum on Tuesday as tension of the market eased on the first round of voting in the French presidential election.

Global stocks

The European market is expected for a strong start with Britain’s FTSE 100 (FTSE) closing 2 percent to 7,264 on Monday and Germany’s DAX (GDAXI) with a 3 percent gain to 12,454. France’s CAC 40 is set to open 0.4 percent after closing 4.1 percent to 5,268 which is its largest one-day gain in almost five years.

Euro Stoxx 50 went up 0.1 percent to 3, 580 while the Euro US Dollar soared 0.2 percent to 1.0892.

Nasdaq 100 futures rose on Tuesday by 0.1 percent to 5,513 and Nasdaq Composite (IXIC) ended on with 1.2 percent high to 5,983 on Monday.

MSCI International World Price Index (MIWO00000PUS: MSCI) rose 0.1 percent to 1,874 on Tuesday, 07:30 AM GMT.

The US Dollar index spot shrunk 0.01 percent to 98.90. Canadian US Dollar fell 0.3 percent to 0.7378 while Dow Jones Industrial (DJI) grew 1 percent to 20,763.

Asian Stocks and Commodities

Asian stocks hit a near two-year high on Tuesday with MSCI’s largest index of Asia Pacific shares outside Japan rose 0.4 percent to 147.74 on its fourth successive day of gains.

Japan’s Nikkei 225 (N225) closed its session with a 1 percent high to 19,071 while TOPIX (TOPX) also boosted 1 percent to 1,519. South Korea’s KOSPI (KS11) index also grew 1 percent to 2,196 its highest since April 2015.

The Japanese yen recovered from its 0.6 percent fall on Monday after the French vote affected investor appetite for safe-haven assets with a 0.4 percent increase to 110.29 on Tuesday.

China’s shares also rose with Shanghai Shenzhen CSI 300 (CSI300) going up by 0.3 percent to 3,442 and a 1 percent growth to 24,451 for Hang Seng (HSI).

Jakarta’s Stock Exchange Composite Index (JKSE) fell 0.05 percent to 5,661 while FTSE Malaysia KLCI (KLSE) climbs 0.2 percent to 1,759 on Tuesday.

Australia’s S&P/ ASX 200 (AXJO) recorded a 0.3 percent high to 5,871 on Monday and it is currently close in celebration of the Anzac Day Holiday.Australian Dollar dropped 0.5 percent to 0.7533.

Meanwhile, commodities are showing mixed performance on Tuesday with Crude Oil WTI futures a 0.08 percent high to 49.26 a barrel whereas Brent crude oil is currently steady with 52.13.

Gold prices fell 0.4 percent to 1,271 while silver futures is down 0.3 percent to 17.877 and copper rose 0.8 percent to 2.586.

French Election

Emmanuel Macron, former French Minister for economy and finance, lead the first round the French presidential election with an overall vote of24 percent followed by Marine Le Pen with 21.3 percent.

Macron and Le Pen will be battling for presidency on the second round of polls on May 7, 2017.

According to latest surveys, Macron will beat Le Pen in the second round by 64 percent over 36.

Both finalists proposed to France two different ideas of Europe and the world. Macron, being the progressive one wanted to further strengthen the euro zone while Le Pen described as the patriot, plans to leave the zone and conduct an in-out referendum on EU membership within six months of taking power.

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Eco-friendly Vehicles Lead Auto Shanghai 2017

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Eco-friendly vehicles are this year’s highlight for the 17th Shanghai International Automobile Industry Exhibition (Auto Shanghai 2017). More than 1,000 manufacturers arrived at Shanghai with the intention of having the opportunity to profit from China’s budding market for electric vehicles.

With the theme of “Committed to Better Life,” the heart of the show will be on the never-ending possibility of human life resulting from new technologies, trends and products and present the latest improvements of electric cars, intelligence and networking.

Auto Shanghai 2017 will be focusing on green energy as automakers worldwide go all-out to create vehicles that rely less or not at all on fossil fuels.

The show is displaying about 1,400 cars, 159 of which are the eco-friendly vehicles, 113 to make their world premiere, 96 from Chinese companies and 63 foreign ones.

Several top carmakers have already announced their plans on producing and selling electric vehicles for the Chinese market since it is the biggest auto market as of the moment. China’s government alsohas the most firmed objectives for electric cars which is why it serves as a way to clean up smoke-filled cities and gain a lead in the growing technology industry.

Ford Motor Company says that it will introduce by next year the Mondeo Energi a plug-in hybrid sedan in China. It alsohas a plan on making electric and plug-in hybrid cars by 2025 together with its domestic joint venture partner Changan Automobile Co., Ltd.

General Motors Co. also announced on Wednesday during the exhibition its plans to manufacture and sell a Chinese version of its gasoline-electric hybrid the Chevrolet Volt and 10 Neighborhood Electric Vehicles (NEVs) by 2020.

German carmaker Volkswagen (VW) AG has revealed on Auto Shanghai 2017 the ID Crozz electric crossover vehicle and it also plans to have 13 more NEVs by 2020 and sell 1.5 million electric vehicles by 2025. Audi AG showcased its latest electric vehicle at the exhibition as well, which was the e-tron Sportback concept which is expected to go through production by 2019.

Toyota announced on Tuesday that it will begin road testing its fuel cell vehicle Mirai in China by October and will release a plug-in hybrid next year.

Conversely, stock prices for Ford, VW and Audi have shown growth on Wednesday. Ford rose 0.09 percent to 11.14, VW went a 1.7 percent higher to 143.25 and Audi climbed 0.9 percent to 646.74.

Stock prices for General Motors and Toyota presented a decline of the same day. General Motors lost 0.6 percent to 33.69 while Toyota got a 0.7 cut to 105.32.

The Chinese government plans to make production quotas for automakers by 2018. Last year, the latest car sales in China recorded a two-digit increase of about 28 million units and keeping the country’s title as the world’s largest car market for eight successive years. Small car sales are also expected to rise due to the extension of a tax break that was suppose to expire last year.

Meanwhile, China’s premium car market is predicted to grow by 50 percent over the next decade. Motivated by wide-ranging development in the world’s second largest economy, increasing wealth and commercial development of private firms, China’s market will grow to around 3 million cars per year in a decade’s time.

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FTSE On An Uptick; RBS Fails Stress Test

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The UK stock index finished with an uptick on Thursday, with oil-backed equities soaring in expectations of a successful OPEC production cut deal. On the other hand, after failing the stress test given by the Bank of England, the stocks of the Royal Bank of Scotland PLC dropped.

The FTSE 100 was up 0.6 percent at 6,811.95 following a drop of 0.4 percent on Tuesday, its second consecutive decline.

As trading wraps-up for November, oil and banking industries gain the center stage Wednesday which is anticipated to set the FTSE 1000 on a monthly decline of around 2 percent. Following five months of gains, this might become the index’s first monthly loss.

OPEC Outlook Lifts

International benchmark US West Texas Intermediate crude prices leaped 3.5 percent, while Brent crude surged 4 percent, after reports of OPEC Secretary General Mohammad Barkindo confirming that the international oil cartel is sure to reach a production-cut deal on Wednesday in their official meeting in Vienna.

Stakes of oil producers like BP PLC and Royal Dutch Shell PLC accelerated gains. Both stocks inched higher, with 2.2 percent and 3 percent, respectively.

The OPEC deal aims to address the current international oil supply glut that has been sending prices downward for the past two years. The first proposal was to cut the group’s oil output by above a million barrels a day, or around 1 percent of the world’s supply.

Stress Test Failure

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With its failure in the tougher stress test for systemic UK banks, Royal Bank of Scotland made a 1.9 percent slump, off session lows. Now they must come up with an improved plan to generate capital, Bank of England stated Wednesday. RBS ought to come up with around £2 billion ($2.5 billion) in capital.

The stress test also disclosed capital insufficiencies at Standard Chartered PLC and Barclays PLC, but these banks are not required to submit new capital plans since they’ve already carried out their own actions to strengthen their capital, the BOE disclosed in a statement.

Standard Chartered stocks were down 0.4 percent and Barclays stakes had not much movement at £2.14 each.

“The key take away from the report is that the outlook for financial stability is challenging, Brexit and high levels of household debt have been cited as the key reasons for this,” said City Index research director Kathleen Brooks in a note.

“On the positive side, the BOE said that the U.K. is well able to finance its huge current account deficit, and the banking system, although not perfect, is in a position to support the U.K. economy, even in a severely stressed scenario,” she added.

Late Tuesday, the pound changed hands at $1.2479, down from $1.2503, in New York.

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US Treasury Yields Rise, Asian Stocks Fall

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After rebounds following sharp falls after a Trump presidential victory, Asian markets, especially emerging ones, crashed Friday trade.

Malaysia’s FTSE Bursa Malaysia KLCI was off 1 percent, the Philippines’ PSEi dropped 2.9 percent, and Indonesia’s Jakarta Composite Index tumbled 3 percent.

The Shanghai Composite Index was, technically, on a bull market close that is 20 percent higher than the low it suffered early this year. The market’s strength was consolidated in the afternoon by broad-based gains particularly brokerage stocks.

Smaller-cap shares in Shenzhen lagged while stocks related to infrastructure closed high.

On the other hand, Hong Kong’s Hang Seng Index lost 1.4 percent, South Korea’s Kospi was down 0.9 percent and Taiwan’s Taiex closed 2.1 percent lower.

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“Global investors are favoring conditions in the U.S. market,” CMC Markets senior sales Alex Wijaya said, regarding surging U.S. Treasury yields. “We are seeing a general flowing to the U.S.”

The benchmark US Treasury note yield jumped from 2.070 percent on Wednesday to 2.118 overnight. The surged was backed by what was considered as the largest one-day rise in the note in more than three years on Wednesday.

“We think there is some heightened concern in Asia [about outflows] as well as inflation,” remarked Cynthia Wong, emerging markets trading head for Asia-Pacific fixed income and currencies at Société Générale.

According to Tareck Horchani, deputy head of Asian-Pacific sales trading at Saxo Capital Markets, in the emerging markets, currencies, equities and bonds tend to move together.

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