• MTS Futures News_PM_20180709

    9 Jul 2018 | SET News

·         European equities start the trading day higher as investors monitor developments on trade and react to news that the U.K.’s chief Brexit negotiator has resigned from his post.

The pan-European Stoxx 600 was 0.49 percent with most sectors in the black.

European investors were waking up to news that Brexit Secretary David Davis has resigned from his position, after disagreements with the rest of the U.K. government and in particular the prime minister. Theresa May reached a compromise Friday to go ahead with a plan that would mean the country had the closest possible ties with the EU. May is due to address the House of Commons on Monday.

·         Asian shares rallied on Monday as favorable U.S. jobs data whetted risk appetites, while sterling wobbled after the shock resignation of two UK ministers over Brexit threatened the survival of Prime Minister Theresa May.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 1.3 percent, on top of 0.7 percent rally on Friday when the launch of U.S. tariffs on Chinese imports came and went without too many fireworks.

·         Japan’s Nikkei share average rebounded to one-week highs on Monday as investors took heart from U.S. jobs growth, while Eisai extended its gains to its daily-limit high on optimism for its Alzheimer’s drug.

Eisai Co soared 16 percent to a daily limit high of 10,710 yen, which is also a record high, extending its surge from Friday. The strong rally came as several brokerages upgraded the stock rating after the Japanese drugmaker and Biogen Inc said that the final analysis of a mid-stage trial of their Alzheimer’s drug showed positive results for patients who received the highest dose.

The strong U.S. jobs data on Friday helped lift the Nikkei to close 1.2 percent higher at 22,052.18, the highest closing level since June 29.

·         China’s share market and the yuan bounced on Monday despite heightened trade tensions between Washington and Beijing after each imposed major tariffs on the other’s goods last week and investors nervously watched for more policy action.

The Shanghai Composite Index .SSEC, which tracks shares traded on the Shanghai stock exchange, ended 2.5 percent higher, its biggest one-day rise since May 2016.The blue-chip CSI300 Index .CSI300 finished up 2.8 percent, its best since August 2016.


 Reference: Reuters, CNBC


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