ASIA:

The biggest drop in China’s cement production in at least two decades has dragged global production of the building material into decline, showing how the crisis in the country’s vast real estate sector has hit other industries that rely on it for growth. Global cement production fell 8 percent year-on-year to 1.9 billion tons in the first six months of 2022, according to data provided by the World Cement Association. The global decline was caused by a 15 percent drop in cement production volume to 977 million tons. cement made in China, WCA said. Ian Riley, chief executive of the WCA, said China’s decline was the biggest in more than 20 years, with no comparable decline in recent memory. China’s property crisis, which began a year ago with missed bond payments at real estate developer Evergrande and has since spread to the indebted sector, is weighing heavily on economic activity.

The major Asian stock markets had a mixed day today:

• NIKKEI 225 increased 278.58 points or 1.07% to 26,215.79
• Shanghai closed
• Hang Seng decreased 143.32 points or -0.83% to 17.079.51
• Kospi closed
• ASX 200 decreased 17.30 points or -0.27% to 6,456.90
• SENSEX decreased 638.11 points or -1.11% to 56,788.81
• Nifty50 decreased 207.00 points or -1.21% to 16,887.35

The major Asian currency markets had a mixed day today:

• AUDUSD increased 0.01052 or 1.64% to 0.65050
• NZDUSD increased 0.01170 or 2.09% to 0.57111
• USDJPY decreased 0.123 or -0.08% to 144.618
• USDCNY decreased 0.03280 or -0.46% to 7.10870

Precious Metals:

• Gold increased 33.76 USD/t oz. or 2.03% to 1,693.43
• Silver increased 1.593 USD/t. oz or 8.39% to 20.593

Some economic news from last night:1

Japan:

Tankan All Big Industry CAPEX (Q3) increased from 18.6% to 21.5%

Tankan Big Manufacturing Outlook Index (Q3) decreased from 10 to 9

Tankan Large Manufacturers Index (Q3) decreased from 9 to 8

Tankan Large Non-Manufacturers Index (Q3) increased from 13 to 14

Australia:

Manufacturing PMI decreased from 53.8 to 53.5

MI Inflation Gauge (MoM) increased from -0.5% to 0.5%

Some economic news from today:

India:

Nikkei S&P Global Manufacturing PMI (Sep) decreased from 56.2 to 55.1

EUROPE/EMEA:

The Bank of England bought just £22m of bonds on Monday as part of its operation to ease tensions in the gilt market, the latest sign that the central bank has so far managed to stem a chaotic sell-off without spending nearly £5bn. daily shopping. The day’s buying began last Wednesday as the plunge in long-term gilts threatened to spiral out of control and triggered a liquidity crisis among UK pension funds. In the first four days of the 13-day program, the BoE spent just £3.66bn of a possible £20bn, meaning purchases are likely to fall far short of the potential £65bn in size. Monday’s operation, in which the BoE rejected bids from investors seeking to sell 1.89 billion pounds of gilts, following a rally in gilts fueled by the British government’s plan to scrap the top rate of income tax.

The major Europe stock markets had a green day:

• CAC 40 increased 31.81 points or 0.55% to 5,794.15
• FTSE 100 increased 14.95 points or 0.22% to 6,908.76
• DAX 30 increased 95.12 points or 0.79% to 12,209.48

The major Europe currency markets had a mixed day today:

• EURUSD decreased 0.00026 or -0.03% to 0.97993
• GBPUSD increased 0.01068 or 0.96% to 1.12719
• USDCHF increased 0.00695 or 0.70% to 0.99375

Some economic news from Europe today:

Swiss:

CPI (YoY) (Sep) decreased from 3.5% to 3.3%

CPI (MoM) (Sep) decreased from 0.3% to -0.2%

procure.ch PMI (Sep) increased from 56.4 to 57.1

Spain:

Spanish Manufacturing PMI (Sep) decreased from 49.9 to 49.0

Italy:

Italian Manufacturing PMI (Sep) increased from 48.0 to 48.3

France:

French Manufacturing PMI (Sep) decreased from 47.8 to 47.7

Germany:

German Manufacturing PMI (Sep) decreased from 49.1 to 47.8

UK:

Manufacturing PMI (Sep) increased from 47.3 to 48.4

Euro Zone:

Manufacturing PMI (Sep) decreased from 49.6 to 48.4

 US/AMERICAS:

US equities started off the week strong following last week’s sell-off. The Dow rose 2.7% or 765.38 points but still closed beneath the 30,000 level. The S&P 500 fell to a low on Friday not seen since November 2020 but rebounded today after rising 2.6% to 3,678.43. The Nasdaq also closed in the green after rising 2.3% to 10,815.44. All three indexes fell for three consecutive quarters. The Dow lost 6.66% in Q3, while the S&P and Nasdaq shed 5.28% and 4.11%, respectively.

US Market Closings:

• Dow advanced 765.38 points or 2.66% to 29,490.89
• S&P 500 advanced 92.81 points or 2.59% to 3,678.43
• Nasdaq advanced 239.82 points or 2.27% to 10,815.44
• Russell 2000 advanced 44.15 points or 2.65% to 1,708.87

Canada Market Closings:

• TSX Composite advanced 436.97 points or 2.37% to 18,881.19
• TSX 60 advanced 25.13 points or 2.25% to 1,142.23

Brazil Market Closing:

• Bovespa advanced 6,097.67 points or 5.54% to 116,134.46

ENERGY:

The oil markets had a mixed day today:

• Crude Oil increased 3.646 USD/BBL or 4.59% to 83.136
• Brent increased 3.454 USD/BBL or 4.06% to 88.594
• Natural gas decreased 0.3101 USD/MMBtu or -4.58% to 6.4559
• Gasoline increased 0.1123 USD/GAL or 4.74% to 2.4821
• Heating oil increased 0.1061 USD/GAL or 3.29% to 3.3277

The above data was collected around 13:47 EST on Monday  

• Top commodity gainers: Crude Oil (4.59%), Gasoline (4.74%), Silver (8.39%) and Platinum (4.57%)
• Top commodity losers: Coffee (-2.71%), Coal (-8.00%), Sugar (-5.32%) and Natural Gas (-4.58%)

The above data was collected around 14:01 EST on Monday.

More By This Author:

Market Talk - Friday, Sept. 30
Market Talk - Thursday, Sept. 29
Market Talk - Wednesday, Sept. 28