Market Talk – Thursday, March 26

Foreign Investments in Japanese Stocks decreased from -1,241.8B to -1,462.1B

Singapore:

GDP (QoQ) (Q1) decreased from 0.6% to -10.6%

GDP (YoY) (Q1) decreased from 1.0% to -2.2%

Some economic news from today:

Singapore:

Industrial Production (YoY) (Feb) decreased from 3.5% to -1.1%

Industrial Production (MoM) (Feb) decreased from 18.7% to -22.3%

Hong Kong:

Exports (MoM) (Feb) increased from -22.7% to 4.3%

Imports (MoM) (Feb) increased from -16.4% to -0.1%

Trade Balance decreased from -30.6B to -38.6B

EUROPE/EMEA:

The coronavirus numbers in Europe have grown to 50,000 affected and 15,000 deaths in total today. The markets handled the news pretty well, with most major European indices rising. Dax index just closed above 10k.

European leaders condemned US President Trump’s ban on all flights heading into the US from Europe. The European leaders asked for cooperation on the matter.

The European leaders met virtually to discuss ways forward with tackling the virus spread. There were talks of introducing a “coronabond” which will help raise assets for the crisis. A proposal is said to be prepared now to be presented in a fortnight.

The number of confirmed coronavirus cases in Pakistan jumped to 1,106 on Thursday after new cases were reported in Baluchistan, Punjab, Sindh, and Khyber Pakhtunkhwa. So far, eight coronavirus infected patients have died in Pakistan while 21 have recovered. Unlike the rest of the world, most coronavirus cases in Pakistan are young adults. 24 percent of confirmed cases in the country are patients between 21 and 30 years.

UAE government has issued a mandatory three-day lockdown from Thursday, March 26, through Sunday, March 29, while it conducts a general sterilization campaign with the aim of controlling the spread of the coronavirus (COVID-19) in the country. The lockdown will begin as of 20:00 (local time) on March 26, and will be lifted at 06:00 on March 29.

The major Europe stock markets had a green day today:

  • CAC 40 increased 111.28 points or 2.51% to 4,543.58
  • FTSE 100 increased 127.53 points, or 2.24% to 5,815.73
  • DAX 30 increased 126.70 points or 1.28% to 10,000.96

The major Europe currency markets had a mixed day today:

  • EURUSD increased 0.01239 or 1.14% to 1.10099
  • GBPUSD increased 0.02446 or 2.07% to 1.20736
  • USDCHF decreased 0.01006 or -1.03% to 0.96634
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