Market Talk – Tuesday, Nov. 19

ASIA:

China and South Korea entered into a defense agreement that could dent South Korea’s relationships with the US and Japan. The agreement will work on developing security ties and ensuring stability in the region. This comes about after China accused the US of meddling with affairs in the region.

Recently US President Donald Trump asked South Korea to contribute 5 billion USD a year, up from their current contribution of 1 billion USD, to maintain the 28,500 US troops that have been stationed in East Asia since the Cold War. Japan has also been asked to up their contributions to 8 billion USD compared to the 2 billion USD it currently pays.

China has issued a statement to Hong Kong that only Beijing has the constitutional authority to make decisions on Hong Kong. This came about after Hong Kong overturned a decision by Beijing to ban face masks. A parliamentary spokesperson Jian Tiewei said, “No other institution has the right to make judgements or decisions.” Still, protests in Hong Kong continue with 100 or so students holding out at the university in Hong Kong.

The major Asian stock markets had a mixed day today:

  • Shanghai increased 24.79 points or 0.85% to 2,933.99
  • Kospi decreased -7.45 points or -0.34% to 2,153.24
  • ASX 200 increased 47.40 points or 0.70% to 6,814.20
  • NIKKEI 225 decreased 124.11 points or -0.53% to 23,292.65
  • Hang Seng increased 412.71 points or 1.55% to 27,093.80
  • SENSEX increased 185.51 points or 0.46% to 40,469.70

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.0020 or 0.30% to 0.6826
  • NZDUSD increased 0.0031 or 0.49% to 0.6428
  • USDJPY decreased 0.0940 or 0.09% to 108.5540
  • USDCNY increased 0.0039 or 0.06% to 7.0276

Precious Metals:

  • Gold increased 0.1 USD/t oz. or 0.01% to 1,473.41
  • Silver increased 0.0943 USD/t. oz or 0.55%% to 17.1397

Some economic news from last night:

New Zealand:

RBNZ Offshore Holdings (Oct) increased from 49.80% to 49.90%

PPI Input (QoQ) (Q3) increased from 0.3% to 0.9%

PPI Output (QoQ) (Q3) increased from 0.5% to 1.0%

Some economic news from today:

New Zealand:

GlobalDairyTrade Price Index decreased from 3.7% to 1.7%

EUROPE/EMEA:

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Disclosure: None.

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