Market Talk – Friday, April 9

ASIA:

International Monetary Fund (IMF) chief economist Gita Gopinath has said its 2021 GDP numbers for India were locked on March 5, around the same time the country started seeing an upsurge in Covid-19 cases and that there could be a downward risk if the country goes for a nationwide lockdown. The IMF this week had raised its growth forecast for the Indian economy by 100 basis points to 12.5% for the fiscal year 2021-22. The international monetary body expects India’s GDP to grow 12.5% in FY22, the highest among emerging and advanced economies. GDP growth for FY23 is pegged at 6.9%.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 59.08 points or 0.20% to 29,768.06
  • Shanghai decreased 31.88 points or -0.92% to 3,450.68
  • Hang Seng decreased 309.27 points or -1.07% to 28,698.80
  • ASX 200 decreased 3.60 points or -0.05% to 6,995.20
  • Kospi decreased 11.38 points or -0.36% to 3,131.88
  • SENSEX decreased 154.89 points or -0.31% to 49,591.32
  • Nifty50 decreased 38.95 points or -0.26% to 14,834.85

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.00318 or -0.42% to 0.76249
  • NZDUSD decreased 0.00176 or -0.25% to 0.70439
  • USDJPY increased 0.28 or 0.26% to 109.61
  • USDCNY increased 0.00188 or 0.03% to 6.55828

Precious Metals:

  • Gold decreased 10.85 USD/t oz. or -0.62% to 1,745.09
  • Silver decreased 0.17 USD/t. oz or -0.66% to 25.262

Some economic news from last night:

China:

CPI (MoM) (Mar) decreased from 0.6% to -0.5%

CPI (YoY) (Mar) increased from -0.2% to 0.4%

PPI (YoY) (Mar) increased from 1.7% to 4.4%

Australia:

AIG Services Index (Mar) increased from 55.8 to 58.7

Building Approvals (MoM) increased from -19.4% to 21.6%

Some economic news from today:

India:

Bank Loan Growth decreased from 6.5% to 5.6%

Deposit Growth decreased from 12.1% to 11.4%

FX Reserves, USD decreased from 579.29B to 576.87B

Indonesia:

Consumer Confidence (Mar) increased from 85.8 to 93.4

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