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China kicks off Shanghai-London Stock Connect with initial quota

China’s securities regulator set initial quotas for the Shanghai-London Stock Connect scheme that officially kicked off trading on Monday, in its latest move to open up its capital markets. Under the west-bound leg of the scheme, Shanghai-listed companies can raise new funds via London’s stock market while the east-bound leg lets British companies broaden their investor base by selling existing shares in Shanghai. The China Securities Regulatory Commission (CSRC) said in a joint statement with the British financial regulator that the initial quota for the east-bound leg of the scheme ...

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Markets Send Mixed Signals on Trade Battle

Markets are sending conflicting signals about how big a threat the global trade rift presents, underscoring the difficulty investors face in sizing up the fallout from the U.S. and China’s spat. As the trade standoff has intensified and the Federal Reserve has suggested its next move might be a rate cut, some investors have turned to safer assets, sending Treasury yields to their lows for the year. But relatively risky assets like stocks have continued to climb toward fresh highs, with the S&P 500 finishing Friday just 2% off a ...

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All eyes on Fed as stock market pines for rate cut

The Federal Open Market Committee meeting next week is shaping up as a pivotal one for Wall Street, with stocks primed for a selloff should the Fed fail to take an even more dovish tilt after policymakers raised expectations for a rate cut in recent weeks. The benchmark S&P 500 has rallied more than 5% this month as softening economic data coupled with comments by Fed officials heightened expectations the Fed will cut rates by the end of the year and, at the very least, telegraph it is leaning toward ...

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As Oil Tankers Burn in Gulf, Investors Focus on Trade War

For bulls and bears with long memories, the oil market may seem a lot like 1991. Nearly three decades ago, U.S. forces had just launched the “Desert Storm” operation to liberate Kuwait from Iraq, and oil tankers navigating the region were fearful of retaliatory attacks from Saddam Hussein’s forces. At the same time, the global economy was slowing down and U.S. crude inventories were starting to pile up. The situation in the Middle East today feels like a deja vu. As in the Gulf War, oil tankers are at risk, ...

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Bond yields slip, stocks suffer on cooling China data

World stocks struggled and safe haven bets were back in play on Friday with German bond yields plumbing record lows as Chinese data rekindled woes about the health of the global economy and fears of a new U.S.-Iran confrontation intensified. Data from Beijing painted a fairly gloomy picture of the world’s second largest economy as the trade war with the United States starts to bite. May industrial output growth slowed to a more than 17-year low, well below expectations, while fixed-asset investment also fell short of forecasts. Expectations for more ...

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Global Stocks Edge Up Amid Questions on Fed Policy

Global stocks mostly crept higher Thursday as investors weighed the chances of a U.S. interest-rate cut after data showed the nation’s inflation was weaker than expected. The Stoxx Europe 600 rose 0.2% in the opening minutes of trading. A jump in the price of oil was helping to support shares of European oil companies. The Stoxx Europe 600’s oil & gas subindex rose 0.7%. Crude’s gains came after a U.K. maritime safety group warned of an unspecified incident in the Gulf of Oman. Tensions between Iran and the U.S. ran ...

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Time and again, stock markets reward investors unfazed by their wild swings

The books are closed and the results are in. With a 6.6 per cent decline, this has been the second-worst May for the S&P 500 since 1962. The Hong Kong stock market, meanwhile, has become the biggest victim of the US-China trade war among the major indexes, falling around 10 per cent over the same period. Somewhat ironically, this turnabout in the markets comes just after many of the major indexes booked their best April gains in about 10 years. So much for the stock market “melt-up” forecasts from earlier ...

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Shares snap seven-day hot streak; U.S. inflation next hurdle

World share markets snapped a seven-day winning streak on Wednesday as the White House took a tough line on trade talks with China, while an impending reading on U.S. inflation was set to refine the odds of an early cut in interest rates there. Europe’s main markets and Wall Street futures both followed Asia lower. London’s FTSE, the DAX in Frankfurt and CAC40 in Paris fell 0.4% to 0.6% as traders trimmed June’s near 4% gains. Benchmark government bonds rallied as the caution returned. FX dealers kept the dollar near ...

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Global shares snap seven-day winning streak; U.S. inflation next hurdle

World share markets snapped a seven-day winning streak on Wednesday as the White House took a tough line on trade talks with China, while an impending reading on U.S. inflation was set to refine the odds of an early cut in interest rates there. Europe’s main markets followed Asia by declining early on. London’s FTSE, the DAX in Frankfurt and CAC40 Paris were down 0.2% to 0.4% as traders trimmed some of June’s 4% gains. [.EU] Benchmark government bond yields fell as caution grew. FX dealers kept the dollar near ...

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Morgan Stanley bear warns his bleak scenario for 2019 is taking shape

Why are stocks busting out all of a sudden? Last week, tariffs on Mexico increased the chances that the Fed would cut rates. Investors obviously like that. So, stocks rallied. This week, Trump backs off those same tariffs. Investors apparently like that, too. Stocks again are rallying. Josh Brown of Ritholtz Wealth Management, please explain. “The market wanted to go up. I don’t think it mattered what happened. We just use these things as a reason after the fact to look smart,” the CEO of the New York City-based investment ...

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Global Stocks Rise as China Plans New Stimulus Measures

Global equity markets rose Tuesday, led by gains in China after Beijing announced fresh stimulus measures to support the world’s second-largest economy. Futures pointed to opening rises on Wall Street of 0.5% for both the Dow Jones Industrial Average and the S&P 500. Chinese stocks enjoyed their best day in over a month. The benchmark Shanghai Composite Index rose 2.6%, its strongest single-day gain since May 10. Its smaller Shenzhen counterpart gained 3.7%. Cement and construction firms led the rally, after Beijing said it would accelerate financing of major infrastructure ...

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European shares gain on Trump tariff relief, carmakers shine

European shares gained ground on Tuesday, with Germany’s carmakers outperforming, as risk appetite held firm after the United States stepped back from imposing tariffs on Mexico. The pan-European STOXX 600 climbed 0.62%, on course for a sixth day of gains in the last seven, with Frankfurt’s DAX racing up 1.2% as German investors returned from a one-day holiday. There, BMW, Daimler and VW – seen as sensitive to trade tariffs – all gained between 1.8%-2%, mirroring a 1.9% gain for the auto sector. Investors have breathed easier this week after ...

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Stocks climb on trade, rate cut optimism; yuan falters

European shares followed Asian stocks higher on Monday after the United States shelved plans to impose tariffs on Mexico and as investors anticipated lower U.S. interest rates when the Federal Reserve meets next week on the back of poor jobs data. Investors had fretted that opening up another trade conflict, while still battling with China, could push the United States and other major economies into recession. The Mexican peso rallied as much as more than 2% on Monday. But in China, the yuan slipped to its weakest this year after ...

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China, Hong Kong stocks climb as trade tensions ease

China and Hong Kong stocks climbed on Monday, tracking a global rally, as worries over trade tensions eased after an agreement between the United States and Mexico to avert a tariff war, and as weak U.S. jobs data raised hopes for U.S. interest rate cuts. ** The CSI300 index rose 1.4%, to 3,615.62 points, at the end of the morning session, while the Shanghai Composite Index gained 1.0%, to 2,855.56 points. ** The Hang Seng index added 2.0%, to 27,513.36 points, while the Hong Kong China Enterprises Index gained 1.9%, ...

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Global Stocks Gain on U.S.-Mexico Deal

Global equity markets ticked up on Monday as investors cheered an immigration deal between the U.S. and Mexico, struck late Friday, which lifted the threat of new tariffs. In Europe, the Stoxx Europe 600 was up 0.4% in opening trading. In Asia, the Shanghai Stock Exchange was up 0.9%, Hong Kong’s Hang Seng gained 2.2% and Japan’s Nikkei index was up 1.2%. Futures pointed to opening gains on Wall Street of 0.3% for both the Dow Jones Industrial Average and the S&P 500. It was announced in a joint statement ...

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