Global Market Report - February 27

Markets are weaker across the world as investors take stock of India-Pakistan tensions, the Trump-Kim summit and testimony from Fed chair Jerome Powell

James Gard 27 February, 2019 | 11:11AM

Global Market Report

Asia

Escalating conflict between India and Pakistan brought geopolitical risk back on the agenda for Asian investors. Still the market reaction was relatively muted: a flight to safety pushed up the Japanese yen but the Nikkei still managed a modest rise on the day, while the BSE Sensex was slightly softer. Pakistan’s KSE 100 index was the worst affected, shedding 4% after reports of both countries’ planes being shot down.

Asia markets also took their cue from the softer close on Wall Street, although China’s Shanghai Composite Index inched towards 3,000 points, a level seemingly unthinkable at the end of 2018.

Europe

Markets in Europe caught the global mood of doubt, with the UK’s FTSE 100 also weighed down by a stronger pound, which has been on a tear since talk of a Brexit delay emerged this week. Sterling has moved above €1.17 and $1.33 as traders downplay the risk of a no-deal Brexit.

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About Author

James Gard  is content editor for Morningstar.co.uk

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