Market Talk – Wednesday, Jan. 21

ASIA:

The Bank of Japan kept monetary policy steady on Thursday and revised its economic forecast for the next fiscal year, signaling that it has delivered sufficient stimulus, for now, to cushion the blow from the COVID-19 pandemic, Reuters reported. As widely expected, the central bank kept unchanged its target for short-term interest rates at -0.1% and that for 10-year government bond yields around 0% in a two-day rate review. In a quarterly review of its projections, the BOJ trimmed its economic forecast for the current year ending in March to a 5.6% contraction from the previous forecast for a 5.5% decline. But it revised up its growth projection for the next fiscal year to a 3.9% expansion from a 3.6% increase forecast in October.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 233.60 points or 0.82% to 28,756.86
  • Shanghai increased 38.17 points or 1.07% to 3,621.26
  • Hang Seng decreased 34.71 points or -0.12% to 29,927.76
  • ASX 200 increased 53.30 points or 0.79% to 6,823.70
  • Kospi increased 46.29 points or 1.49% to 3,160.84
  • SENSEX decreased 167.36 points or -0.34% to 49,624.76
  • Nifty50 decreased 54.35 points or -0.37% to 14,590.35

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.00193 or -0.25% to 0.77430
  • NZDUSD decreased 0.00127 or -0.18% to 0.71790
  • USDJPY increased 0.07 or 0.07% to 103.61
  • USDCNY increased 0.00827 or 0.13% to 6.46973

Precious Metals:

  • Gold decreased 7.45 USD/t oz. or -0.40% to 1,863.46
  • Silver decreased 0.077 USD/t. oz or -0.30% to 25.730

Some economic news from last night:

Japan:

BoJ Interest Rate Decision remain the same at -0.10%

Adjusted Trade Balance decreased from 0.55T to 0.48T

Exports (YoY) (Dec) increased from -4.2% to 2.0%

Foreign Bonds Buying decreased from 736.2B to 272.4B

Foreign Investments in Japanese Stocks decreased from 512.5B to 169.9B

Imports (YoY) (Dec) decreased from -11.1% to -11.6%

Trade Balance (Dec) increased from 366.1B to 751.0B

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