MTS Futures News_PM_20190103

MTS News

MTS Futures News_PM_20190103

3 Jan 2019

•· The slowdown in China and turmoil in stock and currency markets is making investors nervous, including in oil markets.

·       European markets opened lower after a revenue guidance cut from Apple added to fears of a slowdown in global economic growth.

Britain’s FTSE 100 was seen down 18 points at 6,706, Germany’s DAX off by 46 points at 10,530, and France’s CAC 19 points lower at 4,662, according to IG index data

·       Major stocks indexes in Asia were mostly lower on Thursday as U.S. futures pointed to another volatile session for Wall Street after Apple lowered guidance for first quarter and warned of weaker sales in China.

South Korea’s Kospi fell 0.81 percent to finish its trading day at 1,993.70 as shares of Apple suppliers Samsung Electronics and SK Hynix dropped 2.97percent and 4.79 percent, respectively.

Over in the Greater China region, the Hang Seng index gave up earlier gains to slip 0.22 percent, as of its final hour of trade.

The mainland Chinese markets, watched in relation to Beijing’s ongoing tariff fight with Washington, reversed its earlier gains. The Shanghai composite closed largely flat at about 2,464.36 while the tech-heavy Shenzhen composite fell 0.798 percent to finish its trading day at around 1,246.37. The Shenzhen component lost 0.837 percent to close at about 7,089.44.

·       The Chinese stock markets are heavily influenced by retail investors, who are thought to be driven more by short-term sentiment than institutional investors. Recent economic data from China has pointed to a slowing economy, with the country’s manufacturing sector shrinking in December.

Chinese stocks edged lower on Thursday as expectations of policy support failed to offset persisting worries over economic growth.

The Shanghai Composite index ended nearly flat at 2,464.36, while the blue-chip CSI300 index fell 0.2 percent.

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