CMS Daily Market Report 10th December 2019

ASIAN EQUITY CLOSED IN GREEN

Asian benchmark indices closed higher on Monday on hopes f US-China trade deal before December 15th deadline and no execution of new round of US tariffs on Chinese goods. At close, the Nikkei 225 rose 76 points or 0.3% to 23,431; the Shanghai Composite index advanced 2 points, or 0.1%, to 2,914; the Kospi went up 6 points, or 0.3%, to 2,089; while the Hang Seng finished near the flat line at 26,495.

CHINESE INFLATION DATA: CPI 4.5% VS. EXPECTED 4.3% FOR NOVEMBER

According to National Bureau of Statistics of China, November month headline inflation numbers from China, namely the Consumer Price Index (CPI) and the Producer Price Index (PPI) released today. China’s annualized CPI reading came in at 4.5% from expected 4.3%, but above 3.8% from same period a year ago while PPI -1.4 % vs. expected -1.5%, -1.6% prior. Monthly CPI at 0.4% vs. 0.1%, 0.9% prior.

EUROPEAN EQUITY MARKET CLOSED WEAK

European equities market closed in negative territory on Monday after a shrinkage in trade data out of China, which spooked investors led by prolonged trade war between Washington and Beijing. At close, the DAX 30 lost 61 points, or 0.5% to 13,106; the FTSE 100 retreated 6 points, or 0.1% to 7,234; the CAC 40 fell 35 points, or 0.6% to 5,837; and the FTSE MIB slid 226 points, or 1% to 22,957.

UK ELECTION POLL: LATEST AVERAGE POLL SHOWS TORY LEAD STABILISE AT 10 POINTS

According to the latest average opinion poll by Survation, Cons on 42.9%, Labour on 33%

U.S EQUITY ENDED LOWER

U.S equity market closed in red on Monday despite the statement came out from China that it wishes to make a deal with the US as soon as possible. At close, the final numbers were: the Dow Jones lost 105 points or 0.4% to 27,910. The S&P 500 dropped 10 points or 0.3% to 3,136. The NASDAQ retreated 35 points or 0.4% to 8,622.

NAFTA PROGRESS: CANADIAN PM TRUDEAU SPOKE WITH US PRESIDENT TRUMP MONDAY

A statement from the Canadian Prime Minister on USMCA progress that Trudeau spoke with Trump about NAFTA ratification and these two powerhouses are agreed to work together further through the final stages of negotiations.