Market Talk – Monday, Nov. 23

ASIA:

Zheng Yongnian, the Dean of the Advanced Institute of Global and Contemporary China Studies, a Shenzhen-based think tank, has said that the Chinese government should utilize every opportunity to mend ties with the US, South China Morning Post has reported. Mr Zheng, who attended a symposium hosted by President Xi Jinping in August to offer advice on China’s long-term strategy, said there was now a bipartisan consensus in the US on containing China.

India’s antitrust body on Friday cleared conglomerate Reliance Industries’ $3.4 billion deal to buy Future Group’s retail assets, thwarting Amazon.com’s efforts to block the deal. The Competition Commission of India (CCI) announced its decision in a tweet on Friday, with details likely to be made public later. Amazon had approached the CCI and the country’s market regulator SEBI alleging the deal would violate some pre-existing agreements it had with Future Group.

The major Asian stock markets had a green day today:

  • NIKKEI 225 closed
  • Shanghai increased 36.76 points or 1.09% to 3,414.49
  • Hang Seng increased 34.66 points or 0.13% to 26,486.20
  • ASX 200 increased 22.40 points or 0.34% to 6,561.60
  • Kospi increased 49.09 points or 1.92% to 2,602.59
  • SENSEX increased 194.90 points or 0.44% to 44,077.15
  • Nifty50 increased 67.40 points or 0.52% to 12,926.45

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.0024 or -0.33% to 0.72809
  • NZDUSD decreased 0.0013 or -0.18% to 0.69177
  • USDJPY increased 0.4290 or 0.41% to 104.27
  • USDCNY increased 0.0327 or 0.50% to 6.58311

Precious Metals:

  • Gold decreased 35.98 USD/t oz. or -1.92% to 1,834.51
  • Silver decreased 0.674 USD/t. oz or -2.79% to 23.470

Some economic news from last night:

Australia:

Manufacturing PMI increased from 54.2 to 56.1

Services PMI increased from 53.7 to 54.9

New Zealand:

Retail Sales (QoQ) (Q3) increased from -14.6% to 28.0%

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