Market Talk – Wednesday, April 14

ASIA:

Investors are putting billions of dollars more into U.S. stock funds than Chinese ones, according to data from fund research firm EPFR Global. U.S. and China stock funds are the two regions that have attracted the most inflows from international investors over the past two quarters, Cameron Brandt, director of research at EPFR said.

Moody’s retained its forecast of double-digit growth in India’s gross domestic product (GDP) for FY22. In February, Moody’s had revised India’s FY22 growth outlook to 13.7% from 10.8% estimated earlier while maintaining sovereign credit rating at Baa3 (negative), the lowest investment-grade rating. Japanese brokerage Nomura recently tempered its FY22 growth expectations for the Indian economy to 12.6% from 13.5% on account of the disruptions caused by the second COVID wave.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 decreased 130.62 points or -0.44% to 29,620.99
  • Shanghai increased 20.25 points or 0.60% to 3,416.72
  • Hang Seng increased 403.58 points or 1.42% to 28,900.83
  • ASX 200 increased 46.20 points or 0.66% to 7,023.10
  • Kospi increased 13.30 points or 0.42% to 3,182.38
  • SENSEX closed
  • Nifty50 closed

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00864 or 1.13% to 0.77325
  • NZDUSD increased 0.00831 or 1.18% to 0.71447
  • USDJPY decreased 0.06 or -0.05% to 108.95
  • USDCNY decreased 0.01568 or -0.24% to 6.52700

Precious Metals:

  • Gold decreased 7.53 USD/t oz. or -0.43% to 1,736.30
  • Silver increased 0.07 USD/t. oz or 0.26% to 25.396

Some economic news from last night:

Japan:

Core Machinery Orders (YoY) (Feb) decreased from 1.5% to -7.1%

Core Machinery Orders (MoM) (Feb) decreased from -4.5% to -8.5%

South Korea:

Unemployment Rate (Mar) decreased from 4.0% to 3.9%

Export Price Index (YoY) (Mar) increased from 0.6% to 5.6%

Import Price Index (YoY) (Mar) decreased from -0.3% to 9.0%

Australia:

Westpac Consumer Sentiment (Apr) increased from 2.6% to 6.2%

New Zealand:

RBNZ Interest Rate Decision remain the same at 0.25%

External Migration & Visitors (Feb) increased from -98.70% to -98.60%

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