ibusinesslines.com
ibusinesslines.com July 23, 2018


Nikkei edges down ahead of holiday as investors warily eye North Korea

13 August 2017, 01:40 | Kelvin Horton

Persistent gold buying by local jewellers at domestic spot market stoked uptrend

Persistent gold buying by local jewellers at domestic spot market stoked uptrend

USA stocks closed lower on Tuesday after Trump's vow to respond aggressively to any North Korean threats triggered a late afternoon selling spree.

Investors have been jittery about North Korea since Tuesday when Trump said any threats from Pyongyang would be "met with fire and fury like the world has never seen".

On Thursday, the CBOE Volatility Index, a barometer of expected near-term stock market volatility, closed at its highest since the US presidential election.

Aug 11 (Reuters) - U.S. stock indexes opened higher for the first time in four days on Friday after tepid data pointed to benign inflation that could make the Federal Reserve cautious about raising rates again this year, even as concerns lingered over rising tensions between the United States and North Korea. South Korea's Kospi lost 1.7 percent, while Hong Kong's Hang Seng slid 2 percent.

North Korea responded to the threat with a promise to land missiles near the US Pacific territory of Guam.

The Swiss franc reversed a two-week losing streak and gained 1.1 percent to as firm as 0.9611 per dollar.

The euro dipped 0.1 percent to $1.1733 but the single European currency has been slipping this week against the dollar, having hit a more than 2 1/2-year high of $1.1892 on August 2. S&P futures fell 0.2 percent while Dow futures also lost 0.2 percent.

"A global stock market fund will have its fair share of value and growth companies, unlike -say- the FTSE 100 index which is predominately value-orientated with its bias towards energy, mining and financial, or the Japanese TOPIX which is growth-orientated with a predominance of consumer goods companies".


The Swiss franc eased versus the dollar on Thursday, but still held on to the bulk of hefty gains made the previous day as heightened tensions between the United States and North Korea sent investors looking for havens.

In the first four days of the week, the Standard & Poor's 500 index swung from marking its latest record high to posting its biggest single-day drop in almost three months. The Nasdaq added 39.68 points, or 0.6 percent, to 6,256.56.

In Asia, several indexes closed lower overnight.

Department store operator J.C. Penney (JCP) is also among the companies due to report their results before the start of trading on Friday.

In currencies, the yen strengthened 0.64 per cent versus the greenback at 109.37 per dollar. It was last up 1.2 percent at 1.1305 per euro.

Insurers and banks, which invest in higher-yielding products such as foreign bonds, underperformed after U.S. Treasury yields fell on Wednesday, with the yields on the benchmark 10-year note hitting a six-week low. Brent crude, used to price global oils, gained 10 cents to $52.24 in London.

France's CAC dropped 1.6 percent and Germany's DAX fell 1.3 percent. The strength in the sector came as gold for December delivery jumped USD10.80 to USD1,290.10 an ounce.



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