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23 Jul 2018

· European markets started Monday’s session on a negative note, mimicking weaker trading in markets overseas.

The pan-European Stoxx 600 was off by 0.35 percent with every sector trading in red. Auto stocks were the worst performers, down by 1.3 percent, as trade concerns weighed on sentiment. European Commission President Jean-Claude Juncker is heading to the White House this week in an attempt to persuade the U.S. not to impose tariffs on European carmakers. The meeting comes after finance leaders from the world’s 20 biggest economies failed to reach a significant agreement on trade at a meeting over the weekend.

· Asian shares dipped on Monday while the dollar fell after U.S. President Donald Trump criticized the Federal Reserve’s monetary policy and amid reports Japan’s central bank could wind back its massive fund purchases.

The remarks, coupled with new threats to slap duties on all U.S. imports from China, have triggered an equities sell-off with MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS falling 0.2 percent on Monday.

· Japan’s Nikkei fell to a 10-day low on Monday, with exporters driven down by the yen’s rally and index heavyweight Fast Retailing hit by speculation the Bank of Japan could wind back its exchange-traded fund purchases.

The Nikkei ended the day down 1.33 percent at 22,396.99 after going as low as 22,341.87, its weakest intraday level since July 13.

· China stocks rose on Monday, aided by strength in financials and industrial stocks, but a slump in healthcare shares amid a vaccine scandal capped broader gains.

The blue-chip CSI300 index rose 0.9 percent to 3,525.75 points while the Shanghai Composite Index ended up 1.1 percent at 2,859.54 points.

Reference: Reuters,CNBC

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