• MTS Futures News_PM_20190621

    21 Jun 2019 | SET News

· Asian stocks slipped on Friday, as U.S.-Iran tensions and anxieties over Sino-U.S. trade talks left markets in the region struggling to match the euphoria on Wall Street over a possible U.S. interest rate cut next month.

Fears of a military confrontation in the Middle East Gulf were raised after Iran shot down a U.S. military drone. The New York Times reported that U.S. President Donald Trump had approved military strikes on Friday against Iran in retaliation, but pulled back from launching the attacks.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.15%. The index was still up nearly 4% on the week, during which it brushed its highest level since May 8.

Investors have pinned hopes on some sort of compromise emerging when U.S. President Donald Trump meets China’s President Xi Jinping on the sidelines of the G20 summit in Japan on June 28-29.

· Japan’s Nikkei dropped on Friday as investors awaited cues from U.S.-China trade talks, while oil and mining shares were in demand amid rising geopolitical risks in the Middle East.

The Nikkei share average fell 1% to 21,258.64. The index rose 0.7% for the week and posted a third week of gains thanks to hopes that the U.S. central bank will cut interest rates as early as next month.

· China stock market ended firmer on Friday, marking its largest weekly gains since early April, as Beijing and Washington prepared for fresh trade talks and regulators promised start-ups easier access to funding.

At the close, the Shanghai Composite index was up 0.5% at 3,001.98 points, closing above 3,000 points for the first time since April 30. The index gained 4.2% this week, its largest weekly advance since the week ended April 5.

Equities were also cheered this week by news that the Chinese and U.S. leaders will meet to discuss trade at the Japan G20 summit next week. China said on Thursday it hoped Washington would bring a problem-solving attitude to the talks.

· U.S. stock index futures traded slightly lower on Friday amid growing tensions with Iran.

At 2:20 a.m. ET, Dow futures were down 67 points, implying a lower open of more than 58 points. Futures on the S&P and Nasdaq also traded lower.

Market focus is largely attuned to simmering geopolitical tensions between the U.S. and Iran. It comes after the New York Times reported late Thursday that President Donald Trump approved military strikes on several Iranian targets, but abruptly pulled back from launching the attacks.

U.S. officials said Thursday that an Iranian missile had shot down an unmanned U.S. surveillance drone over the Strait of Hormuz, a shipping route through which much of the world’s oil flows. Iran claimed that the drone was above its territory.

· European stocks opened mixed Friday morning, amid intensifying fears of a military confrontation in the Middle East.

The pan-European Stoxx 600 was flat shortly after the opening bell, with sectors and major bourses pointing in opposite directions.

Market focus is largely attuned to simmering geopolitical tensions between the U.S. and Iran. It comes after the New York Times reported late Thursday that President Donald Trump approved military strikes on several Iranian targets, but abruptly pulled back from launching the attacks.


Reference: CNBC, Reuters

Related
MTS Gold Co., Ltd.
40,42,44, Sapsin Road, Wang Burapha Phirom Sub-district, Pranakorn District, Bangkok, 10200
Tel. 0 2770 7777 Fax. 0 2623 9366 E-mail: support@mtsgoldgroup.com