Market Talk – Friday, Jan. 15

ASIA:

Shares in China’s Xiaomi sank after the US government added the smartphone group to an investment blacklist in a move that is likely to thin its ranks of American shareholders. The Beijing-based company’s stock dropped 10.3 percent in Hong Kong trading on Friday, hours after the Pentagon added it to a list of companies with suspected ties to the Chinese military. That, in conjunction with a separate executive order, will block US investors from buying its shares 60 days from now and will require Americans to sell their holdings eventually. The move marks a significant blow for Xiaomi, which had been a big beneficiary of Washington’s campaign of sanctions against Chinese competitor Huawei. That had helped Xiaomi’s sales to surpass Apple’s, making it the world’s number three phone maker by units sold in the third quarter.

India’s wholesale price-based inflation eased to 1.22% in December from a year earlier, helped mainly by a lower increase in food prices, data released by the Ministry of Commerce and Industry showed on Thursday. Analysts in a Reuters poll had forecast the annual wholesale price index to rise 1.30%

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 decreased 179.08 points or -0.62% to 28,519.18
  • Shanghai increased 0.47 points or 0.01% to 3,566.38
  • Hang Seng increased 77.00 points or 0.27% to 28,573.86
  • ASX 200 increased 0.10 points or 0.00% to 6,715.40
  • Kospi decreased 64.03 points or -2.03% to 3,085.90
  • SENSEX decreased 549.49 points or -1.11% to 49,034.67
  • Nifty50 decreased 161.90 points or -1.11% to 14,433.70

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.00551 or -0.71% to 0.77193
  • NZDUSD decreased 0.00684 or -0.95% to 0.71496
  • USDJPY decreased 0 or 0.00% to 103.84
  • USDCNY increased 0.01688 or 0.26% to 6.48327

Precious Metals:

  • Gold decreased 16.17 USD/t oz. or -0.88% to 1,830.20
  • Silver decreased 0.78 USD/t. oz or -3.05% to 24.752

Some economic news from last night:

China:

House Prices (YoY) (Dec) decreased from 4.0% to 3.8%

China Thomson Reuters IPSOS PCSI (Jan) increased from 71.23 to 77.74

Japan:

Foreign Bonds Buying increased from -291.6B to 730.7B

Foreign Investments in Japanese Stocks increased from -85.5B to 580.8B

Thomson Reuters IPSOS PCSI (Jan) decreased from 38.29 to 34.84

Tertiary Industry Activity Index (MoM) decreased from 1.6% to -0.7%

South Korea:

Exports (YoY) (Dec) remain the same at 12.6%

Imports (YoY) (Dec) increased from 1.8% to 2.2%

Trade Balance (Dec) decreased from 6.94B to 6.77B

Interest Rate Decision (Jan) remain the same at 0.50%

Australia:

Home Loans (MoM) increased from 0.8% to 5.5%

Invest Housing Finance (MoM) increased from 0.3% to 6.0%

New Zealand:

FPI (MoM) (Dec) increased from -0.9% to 0.1%

Some economic news from today:

India:

Bank Loan Growth increased from 6.1% to 6.7%

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