Market Talk – Wednesday, Feb. 12


China’s Hubei province reported its lowest number of new coronavirus cases since January. This gives officials hope that the outbreak may be approaching its peak even as experts remain wary about its spread outside of China. Confirmed cases of the coronavirus have risen to almost 45,000 and deaths rose to 1,115 by February 11, 2020.

US defense major Boeing is considering offering its F-15EX fighter jets to the Indian Air Force (IAF) and has sought a license from the US authorities for a possible export to India. The move is seen as an attempt by Boeing to bag an $18 billion contract by IAF to procure 114 fighter jets. Boeing has already announced that it was ready to set up manufacturing facilities for its F/A-18 Super Hornet aircraft if it bags the IAF contract.

Indian automaker Mahindra & Mahindra will invest $423 million to turnaround its struggling South Korean unit Ssangyong Motor Co and make it profitable by 2022, a senior company executive told reporters in Mumbai on Tuesday. Ssangyong, which builds sport-utility vehicles (SUVs), was expected to break even in 2019. However, things started reversing last year due to a slowing global economy and a shift in its domestic market to petrol-fuelled cars from diesel, said Pawan Goenka, managing director at Mahindra & Mahindra.

The major Asian stock markets had a green day today:

  • NIKKEI 225 increased 175.23 points or 0.74% to 23,861.21
  • Shanghai increased 25.22 points or 0.87% to 2,926.90
  • Hang Seng increased 239.78 points or 0.87% to 27,823.66
  • ASX 200 increased 32.90 points or 0.47% to 7,088.20
  • Kospi increased 15.26 points or 0.69% to 2,238.38
  • SENSEX increased 349.76 points or 0.85% to 41,565.90

The major Asian currency markets had a green day today:

  • AUDUSD increased 0.0020 or 0.30% to 0.6741
  • NZDUSD increased 0.0056 or 0.87% to 0.64630
  • USDJPY increased 0.1760 or 0.16% to 110.0140
  • USDCNY increased 0.0036 or 0.05% to 6.9720

Precious Metals:

  • Gold increased 0.73 USD/t oz. or 0.05% to 1,569.37
  • Silver decreased 0.1267 USD/t. oz or -0.72% to 17.5025

Some economic news from last night:


Westpac Consumer Sentiment (Feb) increased from -1.8% to 2.3%

1 2 3 4
View single page >> |

Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.