Market Talk – Friday, Nov. 29

ASIA:

The US signed the Human Rights and Democracy Act into law, which requires the US to continue to monitor Chinese actions regarding Hong Kong citizen’s rights and freedoms. China issued the US a stern warning that if it continues to support a pro-democracy movement in Hong Kong, they will take “firm counter-measures.” The Chinese foreign ministry stated yesterday that the US was distorting the truth and disregarding the facts.

Hong Kong leader Carrie Lam is currently in Thailand in an attempt to bolster the ties between the two nations. She was iterating that the city is functioning well under the one country, two system rule of law.

Indian Prime Minister Modi has set a target for the country to be a 5 trillion USD GDP economy by 2024.

The major Asian stock markets had a negative day today:

  • Shanghai decreased 17.71 points or -0.61% to 2,871.98
  • Kospi decreased 30.64 points or -1.45% to 2,087.96
  • ASX 200 decreased 18.00 points or -0.26% to 6,846.00
  • NIKKEI 225 decreased 115.23 points or -0.49% to 23,293.91
  • Hang Seng decreased 547.24 points or -2.03% to 26,346.49
  • SENSEX decreased 336.36 points or -0.82% to 40,793.81

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.0006 or -0.09% to 0.67619
  • NZDUSD decreased 0.0003 or -0.05% to 0.64160
  • USDJPY decreased 0.0840 or -0.08% to 109.43
  • USDCNY increased 0.0005 or 0.01% to 7.0308

Precious Metals:

Gold increased 7.76 USD/t oz. or 0.53% to 1,465.04

Silver increased 0.10 USD/t. oz or 0.58%% to 17.0259

Some economic news from last night:

Japan:

Jobs/applications ratio (Oct) remain the same at 1.57

Tokyo Core CPI (YoY) (Nov) increased from 0.5% to 0.6%

Tokyo CPI (YoY) (Nov) increased from 0.4% to 0.8%

CPI Tokyo Ex Food and Energy (MoM) (Nov) decreased from 0.3% to 0.0%

Unemployment Rate (Oct) remain the same at 2.4%

Industrial Production (MoM) (Oct) decreased from 1.7% to -4.2%

Industrial Production forecast 1m ahead (MoM) (Nov) decreased from 0.6% to -1.5%

Industrial Production forecast 2m ahead (MoM) (Dec) increased from -1.2% to 1.1%

South Korea:

Interest Rate Decision (Nov) remain the same at 1.25%

Industrial Production (MoM) (Oct) decreased from 2.0% to -1.7%

Industrial Production (YoY) (Oct) decreased from 0.4% to -2.5%

Retail Sales (MoM) increased from -2.2% to -0.5%

Service Sector Output (MoM) (Oct) increased from -1.3% to 0.3%

Indonesia:

M2 Money Supply (YoY) (Oct) decreased from 7.10% to 6.30%

Loans (YoY) (Sep) decreased from 8.59% to 6.53%

Singapore:

Bank Lending (Oct) increased from 684.5B to 689.4B

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