Market Talk – Monday Dec. 2


China has suspended a visit from the US Navy in Hong Kong after last week’s passing of the bill which requires the US to annually monitor Chinas compliance with human rights issues. China did manage to retaliate by placing sanctions on a few US human rights groups. “We urge the US to correct the mistakes and stop interfering in our internal affairs,” ministry spokeswoman Hua Chunying said today.

China has now implemented a law that a face scan must be taken when purchasing a phone sim card. China has been under scrutiny lately due to this use of video surveillance on their population.

Chinese manufacturing activity bounced at the fastest rate in the last three years. The Caixin/IHS Markit manufacturing PMI reading was 51.8.

Moody’s rating agency have upgraded Pakistan’s rating from negative to stable rating of B3. Last year Moody downgraded Pakistan to negative over their depleted foreign reserves.

The major Asian stock markets had a green day today:

  • Shanghai increased 3.83 points or 0.13% to 2,875.81
  • Kospi increased 3.96 points or 0.19% to 2,091.92
  • ASX 200 increased 16.30 points or 0.24% to 6,862.30
  • NIKKEI 225 increased 235.59 points or 1.01% to 23,529.50
  • Hang Seng increased 98.23 points or 0.37% to 26,444.72
  • SENSEX increased 8.36 points or 0.02% to 40,802.17

The major Asian currency markets had a green day today:

  • AUDUSD increased 0.0031 or 0.45% to 0.6796
  • NZDUSD increased 0.0066 or 1.03% to 0.6481
  • USDJPY increased 0.0520 or 0.05% to 109.5410
  • USDCNY increased 0.0068 or 0.10% to 7.0382

Precious Metals:

  • Gold decreased 5.95 USD/t oz. or -0.41% to 1,459.81
  • Silver decreased 0.131 USD/t. oz or -0.77%% to 16.8702

Some economic news from last night:


Caixin Manufacturing PMI (Nov) increased from 51.7 to 51.8


Manufacturing PMI (Nov) increased from 48.6 to 48.9

Capital Spending (YoY) (Q3) increased from 1.9% to 7.1%

South Korea:

CPI (YoY) (Nov) increased from 0.0% to 0.2%

CPI (MoM) (Nov) decreased from 0.2% to -0.6%

Nikkei Manufacturing PMI (Nov) increased from 48.4 to 49.4


Nikkei Manufacturing PMI (Nov) increased from 47.7 to 48.2

Core Inflation (YoY) (Nov) decreased from 3.20% to 3.08%

Inflation (YoY) (Nov) decreased from 3.13% to 3.00%

Inflation (MoM) (Nov) increased from 0.02% to 0.14%


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