Market Talk – Monday, Aug 10


China said on Monday it has imposed sanctions on 11 Americans, including six US lawmakers, for “behaving badly on Hong Kong-related issues.” The US on Friday sanctioned Hong Kong Chief Executive Carrie Lam as well as 10 other Chinese and Hong Kong officials for their role in crackdowns on political freedom in the region. This is the latest measure taken by the Trump administration in response to China’s imposition of a controversial national security law on Hong Kong.

India’s plan to regulate “non-personal” data has jolted US tech giants Amazon, Facebook and Google, and a group representing them is preparing to push back against the proposals, Reuters reported. A government-appointed panel in July recommended setting up a regulator for information that proposed a mechanism for firms to share data with other entities, even competitors, saying this would spur the digital ecosystem. The report, if adopted by the government, will form the basis of a new law to regulate such data. But the US-India Business Council (USIBC), part of the US Chamber of Commerce, calls-imposed data sharing “anathema” to promoting competition and says this undermines investments made by companies to process and collect such information.

India will stop importing 101 items of military equipment in an effort to boost domestic defense production, defense minister Rajnath Singh said on Sunday. India traditionally buys military equipment from Russia, but is increasingly purchasing from the United States and Israel. Modi has repeatedly called for cutting the military’s dependence of expensive imports.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 closed
  • Shanghai increased 25.22 points or 0.75% to 3,379.25
  • Hang Seng decreased 154.19 points or -0.63% to 24,377.43
  • ASX 200 increased 105.40 points or 1.76% to 6,110.20
  • Kospi increased 34.71 points or 1.48% to 2,386.38
  • SENSEX increased 141.51 points or 0.37% to 38,182.08
  • Nifty50 increased 56.10 points or 0.50% to 11,270.15

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.0009 or -0.13% to 0.71497
  • NZDUSD decreased 0.0007 or -0.11% to 0.65909
  • USDJPY increased 0.02 or 0.02% to 105.94
  • USDCNY increased 0.00279 or 0.04% to 6.96084

Precious Metals:

Gold decreased 8.65 USD/t oz. or -0.43% to 2,026.05

1 2 3 4
View single page >> |
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.