Market Talk – Tuesday, Nov. 24

ASIA:

Australia has hit out at “needlessly” worsening relations with China, with the country’s prime minister appealing for smaller nations not to be caught in the crossfire of Sino-US rivalry. Morrison insisted Australia wanted “mutually beneficial” relations with both its largest trading partner and the United States while having the right to pursue its own interests independent of both.

India’s October crude oil imports posted their steepest fall since July and seventh consecutive monthly year-on-year decline as rising COVID-19 cases limited mobility and curbed consumption; government data showed on Monday. Crude oil imports into the world’s third-biggest oil importer and consumer fell 21.6% from a year earlier to 15.14 million tonnes, or 3.58 million barrels per day (bpd), data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas showed.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 638.22 points or 2.50% to 26,165.59
  • Shanghai decreased 11.67 points or -0.34% to 3,402.82
  • Hang Seng increased 102 points or 0.39% to 26,588.20
  • ASX 200 increased 82.50 points or 1.26% to 6,644.10
  • Kospi increased 15.17 points or 0.58% to 2,617.76
  • SENSEX increased 445.87 points or 1.01% to 44,523.02
  • Nifty50 increased 128.70 points or 1.00% to 13,055.15

The major Asian currency markets had a green day today:

  • AUDUSD increased 0.00488 or 0.67% to 0.73535
  • NZDUSD increased 0.00382 or 0.55% to 0.69761
  • USDJPY increased 0.11 or 0.11% to 104.60
  • USDCNY increased 0.00895 or 0.14% to 6.58307

Precious Metals:

  • Gold decreased 31.60 USD/t oz. or -1.72% to 1,804.25
  • Silver decreased 0.38 USD/t. oz or -1.63% to 23.192

Some economic news from last night:

South Korea:

Consumer Confidence (Nov) increased from 91.6 to 97.9

Some economic news from today:

Hong Kong:

Exports (MoM) (Oct) decreased from 9.1% to -1.1%

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