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World Markets Today 02/07/2018

posted onJuly 2, 2018

Asian stocks opened the third quarter of 2018 on a negative note as concerns over a trade war continue to weigh on investor sentiment.

Heavy losses were recorded in China as U.S. tariffs on $34 billion of Chinese products and a matching $34 billion worth of U.S. exports to China are expected to take effect on July 6. Markets in Hong Kong were closed for the SAR Day holiday. 

Japan's benchmark index Nikkei 225 hit 2-1/2-month lows  in the wake of trade disputes between the United States and Japan. In Sydney, shares fell modestly with investors looking ahead to Reserve Bank of Australia's monetary policy decision on Tuesday. 

European markets ended the first day of the new trading week in the red as investors continued to worry about the trade links between the European Union and the U.S. The 28-nation trade bloc has threatened to impose new retaliatory tariffs worth $300 billion if the Trump administration moves forward with penalties on European auto makers, the Financial Times reported on Sunday.

On the political front, Germany's Interior Minister Horst Seehofer announced his resignation plans, government crisis 

On the data front, eurozone's jobless rate remained unchanged at 8.4 percent in May, holding steady at the lowest level since late 2008, according to Eurostat. 

Across the Atlantic, U.S. stocks traded in the green  led by strong gains in tech. Markets in Canada were closed for Canada Day holiday. 

World Markets Headlines Today

Asian investors start week cautiously as China tariffs loom (Fin24)
Singapore shares open higher on Monday, STI up 0.3% to 3,279.3 (The Straits Times)
Australia: Positive start to the quarter on cards for ASX (The Sydney Morning Herald)

Soft start predicted for European shares (RTT News)
European markets open sharply lower on politics and trade concerns (CNBC)
European markets are sharply lower today with shares in France off the most (CNN Money)

Stocks fall broadly to start July on a negative note as trade war remains a risk (Marketwatch)
Stocks Mixed as Investors Size Up Trade Concerns (Bloomberg)
Stocks Turn Mixed in Afternoon Trading (The Street)

Gold prices inch down as dollar firms, Oil falls amid rising Saudi output, Asian economic slowdown (Reuters)

25 Major Markets Stock Indices Closing Data

 All Continents Stock Indices Closing Data

Tokyo's Nikkei 225 slumped 2.21%. China's Shanghai Composite dipped 2.52%. Seoul's KOSPI fell 2.35%. Mumbai's Sensex decreased 0.45% while Nifty 50 was lower by 0.53%. Australia's ASX200 was down 0.27%. Singapore's STI finished 0.91% in the hole. Jakarta's Composite dropped 0.90% and Taiwan's Weighted Index was off  0.54%.

The Paneuropean STOXX600 fell 0.84%. France's CAC decreased 0.88%. London's FTSE was off 1.17%. Belgium's BEL 20 was lower by 0.61%. Amsterdam's AEX dropped 0.94%. Moscow's IMOEX grew 1.02%. In Southern Europe, Lisbon's PSI20 was down 0.73% while Spain's IBEX 35 lost 0.67% and Italy's FTSE MIB moved downward 0.92%. In Scandinavia, Stockholm's OMXS30 was down 1.16% while Copenhagen's OMXC25 decreased 0.67%. Helsinki's OMXHPI finished the day 1.11% in the red.

In Central Eastern Europe, Budapest's BUX fell 0.72% while Warsaw's WIG lost 0.58%. Prague's PX advanced 0.59% and Bratislava's SAX was higher by 0.15%. Tallinn's OMXT was lower by 0.17% while Riga's OMXR was off 1.83%. In Vilnius, the OMXV grew 0.07%.

In South Eastern Europe, Bucharest's BET dropped 0.83% while Sofia's Sofix decreased 1.18%. Belgrade's Belex 15 gained 0.82%. Podgorica's MNSE10 increased 0.57%.  while 
Sarajevo's SASEX ticked down 0.02% and Banja Luka's BIRS advanced 0.20%. Ljubljana's SBI Top dropped 1.53%. Zagreb's CROBEX was down 0.65%. 
In Skopje, the MBI10 was up 1.85%. Istanbul's BIST100 was higher by 0.26%. In Athens, the General Index finished the day 1.24% in the hole while in Nicosia rose 1.23%.

Dar Es Salaam's ASI gained 0.07%. Johannesburg's ASI lost 0.78% and Nigeria's ASI fell 0.87% while Mauritius' SEMDEX dived 7.90%. Uganda's ASI decreased 0.80%. Uganda's ASI moved downward 0.47%.  Zimbabwe's Industrial Index rose 1.57%.

In the U.S., the Dow Jones gained 0.15% while the S&P 500 grew 0.31% and the Nasdaq advanced 0.76%. Brazil's  Bovespa rose 0.09%. Mexico's IPC lost 2.10%.

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