On last foreign tour, Obama must find a way to explain Trump
ricky l14 seconds ago
Asian leaders who painstakingly negotiated a landmark free trade deal with the U.S. are swallowing the reality that Congress will not approve the Trans-Pacific Partnership any time soon. Obama planned to meet with TPP country leaders Peru, but the White House acknowledged the deal is all but dead because Senate Majority Leader Mitch McConnell has ruled out a vote on it before Trump takes office.
Trump is vehemently opposed to TPP and similar deals. That could benefit China, which is eager to fill any void in regional leadership left by a U.S. and has its own competing free trade scheme.
----
If US decide not to proceed with TPP, I think the other TPP members should actively engaged China to replace US even though China has surged ahead with the RCEP trade deals that comprise of almost all Asia Pacific Countries.
For this TPP deal, it comprise of Canada, Mexico, Peru, Chile and others none RCEP members --- which will be very attractive for China.
Will China be interested to fill the void left by US?
ricky l4 seconds ago
Another viable candidate that can fill the void of US in TPP will be EU if China has reservation.
ricky l4 seconds ago
The Original TPP comprise of the following Countries in the following Continent :-
(1) some Asia-Pacific and ASEAN members
(2) Northern America - eg. Canada, Mexico
(3) South America - eg. Peru, Chile
led by US.
Since US intend not to support the TPP,
- so if China want to take over the US role, China will see a Trans-Pacific, Trans-Northern America and Trans-South American trade bloc. A very good opportunity to link the 3 Continents together in a mammoth Trade Pact.
- also if EU is interested, it will be Trans-Europe continent extending to 3 Trans-Pacific, Trans-Northern America and Trans-South American trade bloc - a massive Trade deal and Trade network.
Members of TPP should seriously consider such alternatives when meeting up ----- and court China or EU or both.
ricky l4 seconds ago
China is an Economy of about US$20 trillion with US$4 trillion trade.
Similarly, Europe is also an Economy of about US$20 trillion with US$4 trillion trade.
Both China and Europe Economy and Trade - are similar in size.
US Economy is about US$18 trillion with US$4 trillion trade.
So either China or Europe or both ---- are very good alternatives to replace US who are giving up TPP.
ricky l4 seconds ago
Anyone got China President Xi Jin Ping's email and EU Commissioner's email?
Can write this mammoth business opportunity to China and EU.
Very good money $$$$$$$$$$$$$$$$$ - Huat Ah !
ricky l4 seconds ago
China has signalled it will promote plans for regional trade integration, vowing to seek support for a Beijing-backed Asia-Pacific free trade area at a summit in Peru later this month, after Trump's win dashed hopes for the U.S.-led Trans-Pacific Partnership (TPP).
---
Look like China has signaled its interest to fill the void of TPP - in the coming summit in Peru later this month as reported.
So think that we are in for a good stead.
Very good money $$$$$$$$$$$$$$$$$ - Huat Ah !
US stocks move lower as technology companies tumble
MARLEY JAYNovember 15, 2016
Trader Gordon Charlop works on the floor of the New York Stock Exchange, Monday, Nov. 14, 2016. Stocks are opening modestly higher on Wall Street, led by gains in banks as interest rates continue to rise. (AP Photo/Richard Drew) More
NEW YORK (AP) — U.S. stocks are slightly lower Monday as technology companies like Apple and Microsoft take big losses on fears about their overseas revenue. That's canceling out huge gains for banks, which are trading higher as bond yields rise to their highest levels since January.
KEEPING SCORE: The Dow Jones industrial average gained 12 points, or 0.1 percent, to 18,859 as of noon Eastern time. The Standard & Poor's 500 index lost 2 points, or 0.1 percent, to 2,162. The Nasdaq composite sank 21 points, or 0.4 percent, to 5,215.
TECH TROUBLES: Technology companies fell sharply, with familiar names taking some of the largest losses. Apple gave up $3.31, or 3.1 percent, to $105.12 while Facebook declined $4.36, or 3.7 percent, to $114.66 and Microsoft slid $1.23, or 2.1 percent, to $57.80. Alphabet, the parent company of Google, slipped $22.47, or 2.9 percent, to $749.28. Tech stocks have struggled over the last few days as investors wonder if Donald Trump's policies as president will hurt their sales in China and other markets overseas.
BANK BONANZA: Bank stocks continued to surge, as they've done since the election. Higher bond yields point to higher interest rates and bigger profits for banks from lending money. Investors have been selling bonds, pushing yields higher, as they expect the spending plans of president-elect Trump to lead to higher inflation.
Investors are also pleased at the prospect of looser regulation and bigger profits. Trump's election could result in big changes to the Dodd-Frank financial reform bill or to the Consumer Financial Protection Bureau. Bank of America rose 97 cents, or 5.1 percent, to $19.99 and JPMorgan Chase picked up $2.55, or 3.3 percent, to $79.24.
DOING DEALS: South Korean conglomerate Samsung said it will buy Harman International for $8 billion, or $112 a share. Harman makes products for connected cars including audio systems and safety and entertainment features. Its stock jumped $22.35, or 25.5 percent, to $110.
MENTORING: German industrial equipment company Siemens agreed to buy software maker Mentor Graphics for $4.5 billion, or $37.25 a share. Mentor's stock rose $5.67, or 18.5 percent, to $36.35.
DIG IT: Shares of communication adapter maker Digi International rose $1.67, or 14.4 percent, to $13.33 after the company said it received an offer from Belden, a communications equipment company. Digi said it rejected the bid of $13.82 a share, or about $359 million, because it's too low. Belden stock added $1.69, or 2.4 percent, to $71.39.
BONDS: Bond prices fell. The yield on the 10-year Treasury note rose to 2.22 percent. Bond trading was closed Friday for the U.S. Veterans' Day holiday. The 10-year yield, which is a benchmark for interest rates on home mortgages and other kinds of loans, finished at 2.06 percent on Thursday. The day before the Nov. 8 presidential election the yield was 1.83 percent.
CURRENCIES: The dollar rose sharply against other currencies as U.S. interest rates rose. It jumped to 108.36 Japanese yen from 106.78 yen. The euro fell to $1.0719 from $1.0845.
ENERGY: With the dollar gaining strength, benchmark U.S. crude fell $1.12, or 2.6 percent, to $42.29 a barrel in New York. Brent crude, used to price international oils, lost $1.11, or 2.5 percent, to $43.64 a barrel in London.
That pulled energy companies lower. Anadarko Petroleum fell $1.87, or 3.1 percent, to $59.17 and Exxon Mobil lost $1.24, or 1.4 percent, to $84.43.
DIVIDEND PAYERS DIVE: Investors are also selling companies that pay big dividends like utilities and phone companies as bonds become more appealing to investors seeking income. Phone and utility companies and real estate investment trusts all traded lower. Those stocks are most appealing to investors when bond yields are low. American Tower fell $4.72, or 4.5 percent, to $100.99 and Duke Energy lost 80 cents, or 1.1 percent, to $74.44.
TRUMP FACTOR: Stocks went into a long skid as the presidential campaign came to its conclusion, but in the last few days stocks have risen as investors hope a Trump presidency will mean cutbacks in regulations that affect energy and banks, among other businesses. The Dow has reached record highs, with the biggest recent gains going to financial firms Goldman Sachs and JPMorgan, machinery maker Caterpillar and drug company Merck.
OVERSEAS: France's CAC 40 was up 0.4 percent and Germany's DAX rose 0.3 percent. The FTSE 100 index of leading British shares was 0.4 percent higher. In Japan the Nikkei 225 jumped 1.7 percent after a strong reading on Japan's economic growth. The dollar has been particularly strong against the Japanese yen lately and that's helped the country's exporters. Most other Asian markets fell. The Kospi in South Korea lost 0.5 percent and Hong Kong's Hang Seng slipped 1.4 percent.
____
AP Markets Writer Marley Jay can be reached at http://twitter.com/MarleyJayAP His work can be found at http://bigstory.ap.org/journalist/marley-jay
No comments:
Post a Comment