Market Talk – Tuesday, September 10


In a strategy to open Chinese markets to international investors, China scrapped the rule that limits international funds to purchase Chinese stocks and bonds. The State Administration of Foreign Exchange said today that it has removed the 300 billion USD cap on international purchases of the assets. This is a significant step in giving depth to the stock and bond market so it can really compete on a global stage. Meanwhile, reports are stating that China has already agreed to 80% of demands for a trade deal, but the final 20% of US demands are seen by Beijing as an infringement on its sovereignty and impossible to accept.

Some economic data was released today with August exports falling 1% from a year earlier, the biggest fall since June this year. This comes on the back of a decent last month when the figure surprisingly jumped 3.3%. As for this month, analysts expected a 2.0% rise according to a Reuters poll.

The major Asian stock markets had a mixed day today:

  • Shanghai decreased 3.54 points or -0.12% to 3,021.20
  • Kospi increased 12.53 points or 0.62% to 2032.08
  • ASX 200 decreased 33.90 points or -0.51% to 6,614.10
  • NIKKEI 225 increased 73.68 points or 0.35% to 21,392.10
  • Hang Seng increased 2.28 points or 0.01% to 26,683.68
  • SENSEX closed today (public holiday)

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.0002 or 0.03% to 0.6859
  • NZDUSD decreased 0.0003 or 0.04% to 0.6419
  • USDJPY increased 0.2460 or 0.23% to 107.4760
  • USDCNY decreased 0.0051 or 0.07% to 7.1118

Precious Metals:

  • Gold decreased 9.45 USD/t oz. or -0.63% to 1,491.49
  • Silver increased 0.1005 USD/t. oz or 0.56%% to 18.0884

Some economic news from last night:


  • NAB Business Confidence (Aug) decreased from 4 to 1
  • NAB Business Survey (Aug) decreased from 2 to 1

New Zealand:

  • Electronic Card Retail Sales (YoY) (Aug) increased from 1.6% to 2.8%
  • Electronic Card Retail Sales (MoM) (Aug) increased from -0.1% to 1.1%


  • CPI (YoY) (Aug) remain the same at 2.8%
  • CPI (MoM) (Aug) increased from 0.4% to 0.7%
  • PPI (YoY) (Aug) decreased from -0.3% to -0.8%


  • M2 Money Stock (YoY) increased from 2.3% to 2.4%
  • M3 Money Supply (Aug) increased from 1,806.6T to 1,808.9T

Some economic news from today:


  • Retail Sales (YoY) (Jul) increased from -1.8% to 2.4%
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Moon Kil Woong 5 months ago Contributor's comment

As they say some is better than none. This applies to China trade as it does with most things. It's especially true given the US isn't offering much besides an end to tariffs which will increasingly hurt the US more than China from here on.

Terrence Howard 5 months ago Member's comment

Good thoughts as always Moon.

Harry Goldstein 5 months ago Member's comment

Very true.