CMS Daily Market Report 02.06.20

CMS Daily Market Report 02nd June 2020

1. ASIAN EQUITY MARKET CLOSED MIXED

Asian benchmark indices were closed higher on Monday after the National Bureau of Statistics reported that Manufacturing PMI data rose to 50.7 in May, higher from 49.4 in April and market expectations of 49.6 and managed to report above the psychological figure of 50. At close, the Shanghai Composite added 47.06 points or 1.65% to 2,915.43, the Hang Seng Index surged 771.05 points or 3.38% to 23,732.52, the Nikkei 225 added 177.11 points or 0.81% to 22,055, and the KOSPI lost 35.48 points or 1.45% to 2,065.08.

2. QATAR PETROLEUM SIGNED DEAL WITH SUTH KOREAN SHIPBUILDERS WORTH OF $19 BILLION

Shipbuilding shares in South Korea rallied higher after the South Korea’s Big 3 shipyards secure a deal of more than 100 ships worth of 70 billion Qatari riyals ($19 billion), which is the largest deal of LNG shipbuilding in the history.

3. EUROPEAN EQUITY MARKET CLOSED WITH GAINS

European equities market were closed positive on Monday after the U.S. President Donald Trump stated that he will use the force to suspend the riots in the U.S. and bring back the harmony. At close, the DAX 30 eased 1.65% or 194 points to 11,586.85, the IBEX 35 added 125 points, or 1.76% to 7,221.4, the FTSE MIB surged 326 points, or 1.79% to 18,523.71, the CAC 40 rebound 67 points, or 1.43% to 4,762.78 and the FTSE 100 surged 1.48% or 90 points to close at 6,166.

4. ROME’s FAMOUS COLOSSEUM REOPEN AFTER THREE-MONTH LOCKDOWN

Due to ongoing Coronavirus pandemic, tourism activities in Italy were suspended to stop its spread. But, after a lockdown of three-months, the Italy’s administration has decided to reopen its famous Colosseum. However, the tourist place was filled with a hundreds of people despite the normal footprints of thousand tourists.

5. U.S EQUITY MARKET CLOSED LOWER

U.S equity market were closed higher on Monday on hopes of normalizing of economic activities, which were halted again due to ongoing clash between civilians and law enforcement bodies. The ongoing riots made the efforts of administration worthless that were made to curb the Covid-19 from which the world economy is going through. At close, the final numbers were: the Dow Jones gained 92 points or 0.36% to 25,475.02, the S&P 500 added 11.42 points or 0.38% to 3,055.73 and the NASDAQ surged 62 points or 0.66% to 9,552.05.

6. US WILL CUT TIES WITH THE WHO

Due to lower transparency in dealing with Coronavirus pandemic, the U.S. President Donald Trump has decided to cut any collaborations with World Health Organization. The decision came amid growing tensions between the US and China over the Coronavirus pandemic.