MTS Futures News_PM_20180823

MTS News

MTS Futures News_PM_20180823

23 Aug 2018

·         Stocks are shrugging off the latest news from the investigation into President Donald Trump's campaign even though his former lawyer said Trump ordered him to pay off a porn star in an effort to effect the outcome of the election.

Strategists said so far there is nothing impeachable in any of the findings that came out either in the guilty plea by attorney Michael Cohen or in the charges against former campaign chairman Paul Manafort, found guilty of bank and tax fraud by a jury Tuesday.

The investigation may create volatility but strategists do not see it having a negative impact on the bull market unless Trump is tied directly to Russian manipulation of the election or allegations become so bad that Republicans lose control of the House and Senate.

·         Asian shares slipped on Thursday amid speculation U.S. President Donald Trump’s political position could be threatened by the legal woes of two former advisers and as fresh U.S.-China tariffs took effect.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3 percent. Hong Kong’s Hang Seng index stumbled 0.6 percent while Chinese shares see-sawed between positive and negative territory. The blue-chip index was last up 0.4 percent.

·         Japan’s Nikkei edged up on Thursday after a weak yen supported overall sentiment, but a profit warning by Germany’s Continental dragged down auto stocks and tire makers.

The Nikkei share average ended 0.2 percent higher at 22,410.82.

·         China’s stock markets ended higher on Thursday, as investors looked past new tariffs Washington and Beijing slapped on each other’s goods in the latest escalation of the trade war between the world’s two largest economies.

The Shanghai Composite index ended 0.4 percent higher. The country’s blue-chip index also gained 0.4 percent.


Reference: Reuters, CNBC


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