Market Talk – Thursday, April 15

ASIA:

China’s economy likely grew at record pace of 19% in the first quarter, rebounding from a pandemic slump early last year as demand recovered at home and abroad and as policy support for ailing smaller firms continued, a Reuters poll showed. Reuters poll suggests that the world’s second-largest economy has continued to gain momentum, after a 6.5% expansion in the last quarter of 2020. China will release first-quarter gross domestic product (GDP) data on Friday, along with March factory output, retail sales and fixed-asset investment.

Japan’s economy is picking up steam but any recovery is likely to be modest due to lingering caution over the coronavirus pandemic, Bank of Japan Governor Haruhiko Kuroda warned on Thursday. Kuroda said Japan’s economy was likely to improve because of a rebound in global demand and the boost from the government’s massive fiscal spending. Due to continued weakness in service consumption, BOJ governor said the pace of the recovery will be modest as caution over the pandemic remains.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 21.70 points or 0.07% to 29,642.69
  • Shanghai decreased 17.73 points or -0.52% to 3,398.99
  • Hang Seng decreased 107.69 points or -0.37% to 28,793.14
  • ASX 200 increased 35.50 points or 0.51% to 7,058.60
  • Kospi increased 11.95 points or 0.38% to 3,194.33
  • SENSEX increased 259.62 points or 0.53% to 48,803.68
  • Nifty50 increased 76.65 points or 0.53% to 14,581.45

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00219 or 0.28% to 0.77473
  • NZDUSD increased 0.00266 or 0.37% to 0.71683
  • USDJPY decreased 0.16 or -0.15% to 108.74
  • USDCNY decreased 0.00528 or -0.08% to 6.52695

Precious Metals:

  • Gold increased 33.06 USD/t oz. or 1.90% to 1,769.06
  • Silver increased 0.56 USD/t. oz or 2.21% to 25.971

Some economic news from last night:

Japan:

Foreign Bonds Buying increased from 375.1B to 1,714.4B

Foreign Investments in Japanese Stocks decreased from 977.6B to 640.9B

South Korea:

Exports (YoY) (Mar) decreased from 16.6% to 16.5%

Imports (YoY) (Mar) remain the same at 18.8%

Trade Balance (Mar) decreased from 4.17B to 4.13B

Interest Rate Decision (Apr) remain the same at 0.50%

Australia:

MI Inflation Expectations decreased from 4.1% to 3.2%

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