Market Talk - Monday, June 14


China has accused the G7 of “political manipulation” after it criticized Beijing over a range of issues. In a joint statement at the end of a three-day summit, leaders of the G7 countries urged China to “respect human rights and fundamental freedoms.” Experts generally agree that China has detained as many as a million Uyghurs and other Muslims and imprisoned hundreds of thousands more in its crackdown in Xinjiang, which began in 2017. There have been widespread reports of physical and psychological torture inside prisons and detention camps in the region. China denies the allegations.

India’s industrial output growth was estimated at 134.4% in April from a year earlier, government data showed on Friday, a sharp recovery reflecting a base effect due to the pandemic lockdown that hit economic activity last year. According to government data, the industrial output index rose to 126.6 in April from 54.0 in April last year, when the lockdown hit the production. The production index measures factory output in manufacturing, mining and electricity generation.

The major Asian stock markets had a green day today:

  • NIKKEI 225 increased 213.07 points or 0.74% to 29,161.80
  • Shanghai closed
  • Hang Seng closed
  • ASX 200 closed
  • Kospi increased 2.81 points or 0.09% to 3,252.13
  • SENSEX increased 76.77 points or 0.15% to 52,551.53
  • Nifty50 increased 12.50 points or 0.08% to 15,811.85

The major Asian currency markets had a green day today:

  • AUDUSD increased 0.00151 or 0.20% to 0.77175
  • NZDUSD increased 0.00151 or 0.21% to 0.71466
  • USDJPY increased 0.32 or 0.29% to 109.99
  • USDCNY increased 0.01158 or 0.18% to 6.40685

Precious Metals:

  • Gold decreased 12.35 USD/t oz. or -0.66% to 1,864.29
  • Silver increased 0.057 USD/t. oz or 0.20% to 27.947

Some economic news from last night:

New Zealand:

External Migration & Visitors (Apr) increased from -97.40% to 1,755.40%

Permanent/Long-Term Migration (Apr) increased from 619 to 1,037

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