Market Talk - Friday, June 25

ASIA:

Russia and China have presented a plan to build the joint International Lunar Research Station (ILRS). The proposed lunar base is intended to be ready for crewed visits by 2036 and is unrelated to the American-led Artemis program, which has pledged to land “the first woman and person of color” on the moon by 2024, although that date seems increasingly unlikely. The development of ILRS is split into three phases.

India’s airline fleet is expected to contract by 15 to 20 aircraft to less than 700 in the current fiscal year through March 2022, as carriers retire more planes than they induct due to weak passenger demand, consultant CAPA said. Airlines will also be forced to ground 250-300 planes in the first half of the current fiscal year, CAPA estimates, as a surge in COVID-19 infections in the South Asian nation earlier this year roils air travel. Indian carriers are expected to lose $4.1 billion in the current fiscal year on top of a similar loss last year, CAPA estimates, putting renewed pressure on them to raise cash or face the risk of having to downsize, consolidate or have their planes repossessed by lessors

The major Asian stock markets had a green day today:

  • NIKKEI 225 increased 190.95 points or 0.66% to 29,066.18
  • Shanghai increased 40.91 points or 1.15% to 3,607.56
  • Hang Seng increased 405.76 points or 1.40% to 29,288.22
  • ASX 200 increased 32.70 points or 0.45% to 7,308.00
  • Kospi increased 16.74 points or 0.51% to 3,302.84
  • SENSEX increased 226.04 points or 0.43% to 52,925.04
  • Nifty50 increased 69.90 points or 0.44% to 15,860.35

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00076 or 0.10% to 0.75896
  • NZDUSD increased 0.00006 or 0.01% to 0.70638
  • USDJPY decreased 0.0820 or -0.07% to 110.80
  • USDCNY decreased 0.00939 or -0.15% to 6.46129

Precious Metals:

Gold increased 2.93 USD/t oz. or 0.16% to 1,778.11

Silver increased 0.099 USD/t. oz or 0.38%% to 26.032

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Disclosure: None.

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