Global Forex November 8th - From now on, Global Forex will collect the financial news that must be seen every morning for investors. At the same time, share the market's bit by bit, hope to be your daily must-see. Trading strategy.

[Market Performance Review]

☆Japan stock market: Nikkei index fell due to profit-taking decline in early trading

The Japanese stock market Nikkei index fell in early trading on Wednesday, falling to a nearly 26-year high of the previous day, as investors profit-taking, dragging down financial and mining stocks. The Nikkei index fell 0.3% to 22,872.59 points, which hit a record high of 22,953.18 points since January 1992. The Dongzhen stock price index fell 0.2% to 1,810.08 points.

☆ China's stock market: Shanghai Composite Index fell slightly and rebounded slightly, import and export data boosted confidence but short-term selling pressure increased

China's stock market Shanghai Composite Index fell slightly and rebounded slightly. Analysts pointed out that the import and export data released today is better than market expectations, boosting market confidence. The market has hit a new high in the intraday market, but short-term selling pressure has emerged. The Shanghai Composite Index closed at 3,415.46 points, up 1.89 points or 0.06%; the Shanghai and Shenzhen 300 Index closed at 4,048.01 points, down 0.15%.

☆ Hong Kong stock market: falling from a 10-year high, as investors profited from technology stocks

Hong Kong stock market fell from a 10-year high, investors profited from the rise of technology stocks, but Tencent's China's largest online literature platform - Reading Group listed on the first day was enthusiastically sought after, supporting the overall market sentiment. The Hang Seng Index fell 0.3% to 28,907.60 points. The Hang Seng China Enterprises Index fell 0.6% to 11,576.13 points. The Hang Seng Index rose 0.5% in intraday trading to its highest level since December 2007.

☆ foreign exchange market: the dollar fell, due to reports that the United States or postponed corporate tax cuts

The dollar fell across the board as media reports suggest that the implementation of tax cuts by US companies may be delayed, which is one of the core elements of the US tax reform plan under discussion. The US Washington Post quoted an unnamed source on Tuesday as saying that the Senate Republican leaders considered a major plan to cut corporate taxes down for one year to comply with Senate regulations. At 16:54 Beijing time, the US dollar index fell 0.10% to 94.820.

☆ International oil market: oil prices are lower due to the decline in China's crude oil imports, the overall market still has good support

Oil prices fell as China's crude oil imports fell to their lowest level in the year, but traders said the oil market as a whole was still well supported by the Organization of Petroleum Exporting Countries (OPEC). At 16:15 Beijing time, the index Brent crude oil futures fell 0.08 US dollars or 0.13% to 63.61 US dollars per barrel; US crude oil futures fell 0.18 US dollars or 0.31% to the previous day settlement price of 57.02 US dollars per barrel.

☆ Global gold market: gold prices rose slightly, due to the US tax cuts may postpone the implementation of the report to suppress the dollar fell

The price of gold rose slightly, as media reports said that the reduction of corporate tax in the US tax reform plan may be postponed, suppressing the dollar's decline. At 16:16 Beijing time, spot gold rose 0.31% to US$1,279.38 per ounce, and gold price fell about 0.5% last day. US December gold futures rose 0.31% to US$1,279.8 per ounce.

☆Metal period: Nickel-copper leads the decline of China's basic metals, dragged down by the London market

Nickel and copper futures led the decline of China's base metals across the board, dragged down by the sharp fall in the London metal market overnight. ANZ said that investors have profited from the 20% increase in the nickel market in the past month. The data shows that the increase in nickel prices has stimulated Indonesia to increase nickel ore exports, which triggered selling. At 16:18 Beijing time, London nickel fell 0.55% to US$12,585 per tonne; Shanghai's main nickel closed down 1.47% to RMB 101,130 per tonne.

[Significant financial data and events review]

☆ IMF President Lagarde said that if protectionism is no longer just a matter of paper, Asia is suffering

International Monetary Fund (IMF) Chairman Christine Lagarde said on Wednesday that protectionist sentiment is only at the verbal level, but breaking this gap will hurt Asian economies that are free and open markets. . For some investors worried that the main central bank's monetary policy route differentiation may affect Asian capital flows, Lagarde dismissed it. She emphasized that decision-making officials have the communication tools and channels needed to avoid market turmoil. Lagarde said that large-scale capital outflows have not yet been seen in Asia, thanks to the cautious strategy of the central bank and their clear communication of policy changes.

☆ The Bank of Japan’s deliberative committee said that it is important to maintain the “strong” monetary easing policy of the central bank.

The Bank of Japan’s (BoJ) reviewer, Mr. Ono, stressed to business leaders in Miyazaki on Wednesday that it is necessary to continue to implement the Bank of Japan’s current easing plan, because despite the steady rise in prices, it is still far from achieving the 2% inflation target. . He said, "The central bank continues to firmly implement a strong monetary easing policy and insists on quantitative quality easing (QQE) and yield curve control, which is very important," said it is necessary to pay attention to changes in corporate pricing behavior and consumer inflation expectations. There may be a delay increase.

☆ The Bank of Thailand maintains the target interest rate unchanged, saying that the economic growth prospects are getting better

The Bank of Thailand again maintained its benchmark interest rate unchanged at 1.50% on Wednesday, saying that monetary policy still supports the country's economic recovery in the context of current high household debt. The Bank of Thailand's Monetary Policy Committee said in a statement that Thailand's economic growth is expected to be faster than the previous assessment, driven by export growth and improved domestic demand.

☆ South Korean central bank member said that policy adjustment will be carried out slowly, taking into account domestic recovery

Hamm Joon-ho, a member of the Bank of Korea’s monetary policy committee, said on Wednesday that the pace of monetary policy tightening will be slow, and that South Korea’s economic growth and inflation will be taken into account. He said that families and businesses should be prepared for interest rate hikes. Among the seven members of the central bank, Hahm Joon-ho is well known for his neutral policy stance. Analysts believe that South Korea's central bank may raise interest rates for the first time in more than six years at the November 30 meeting. South Korea's exports unexpectedly strong due to strong demand for memory chips. But inflation is weaker than expected and poses a challenge to this view.

☆ German government think tank warns that the domestic economy is overheated

The German government think tank pointed out that the domestic economy was overheated; before the Bundesbank put pressure on the European Central Bank, the bank's expansionary monetary policy quickly ended. The five-person "think tank" annual report that Handelsblatt saw earlier pointed out that the domestic economy is slowly moving towards a "prosperous stage"; it is expected that the domestic economy will expand strongly this year and next. The think tank provides advice to the German government on economic policy. “There are clear signs that the economy is over-utilizing,” the report, scheduled for release on Wednesday, pointed out. According to the German Business Daily, the think tank expects Germany's economic growth rate to be 2% this year and the economy to grow 2.2% in 2018.

☆ The new rules for bad debts have been criticized, and the ECB’s attitude has eased to resolve conflicts.

After the European Central Bank proposed a plan to clean up bad debts in the euro zone banks, it triggered conflicts with the European Parliament and the Italian authorities. The European Central Bank tried to resolve the conflict on Tuesday. It did not rule out cooperation with other institutions and dealt with different banks. Central Bank President Mario Draghi expressed a reconciliation and called on regulators and national authorities to "work together." Sources have told Reuters that the European Central Bank will reconsider the solution to the remaining bad loans, partly because of Italian opposition.

Editor: Zhao Wei

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