Market Talk – Friday, Nov. 8


The Chinese Community Party has responded to US Secretary of State Mike Pompeo’s attack that claimed China is too focused on international domination and needs to be confronted. The CCP stated that his comments were extremely dangerous and exposed his sinister intentions. “Pompeo is splitting apart and setting in antagonism against each other the Chinese people and the Chinese Communist Party in an attempt to provoke their relationship,” Geng Shuang the Chinese foreign minister said.

Japanese household spending has increased at the fastest pace on record in September as the government announced a sales tax hike went into force on October 1. Prior to September, Japan saw ten straight months of households increasing spending. The later part of the year is expected to see a sharp decline.

After Chile canceled this year’s APEC summit scheduled for November, the US has put their name in the hat to hold the meeting early 2020. However, some countries have expressed their concerns, such as Malaysia with their foreign minster branding it a bad idea. Meanwhile, the 94-year-old Malaysian PM has named his successor Datuk Seri Anwar Ibrahim President of the People’s Justice Party. “Yes, I will. Although there are lots of other people who have been asking me to carry on until the next election but that is their view. My commitment is to step down before the next election, certainly,” the 94-year-old said.

The major Asian stock markets had a mixed day today:

  • Shanghai decreased 14.53 points or -0.49% to 2,964.18
  • Kospi decreased 7.06 points or -0.33% to 2,137.23
  • ASX 200 decreased 2.50 points or -0.04% to 6,724.10
  • NIKKEI 225 increased 61.55 points or 0.26% to 23,391.87
  • Hang Seng decreased 196.09 points or -0.70% to 27,651.14
  • SENSEX decreased 330.13 points or -0.81% to 40,323.61

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.0044 or 0.64% to 0.6853
  • NZDUSD decreased 0.0038 or 0.60% to 0.6326
  • USDJPY decreased 0.0800 or 0.07% to 109.1900
  • USDCNY increased 0.0193 or 0.28% to 6.9903

Precious Metals:

  • Gold decreased 6.32 USD/t oz. or -0.43% to 1,460.75
  • Silver decreased 0.2779 USD/t. oz or -1.62%% to 16.8209

Some economic news from last night:


  • Home Loans (MoM) (Sep) decreased from 2.7% to 1.4%
  • Invest Housing Finance (MoM) decreased from 3.8% to 1.1%
1 2 3 4
View single page >> |

Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.