Market Talk - Thursday, June 10

ASIA:

Indian economy is expected to expand 8.3 percent in the fiscal year 2021-22, a report by World Bank projected on Tuesday. In its latest issue of Global Economic Prospects, the Washington-based global lender said that even though the forecast has been revised up by 2.9 percentage points, its masks significant expected economic damage from the second wave of Covid-19.

Besides, it projected the global economy to grow 5.6 percent this year, up from the 4.1 percent it forecasted in January. It said that Covid vaccinations and stimulus given by various central governments will power the fastest worldwide expansion in nearly five decades.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 97.76 points or 0.34% to 28,958.56
  • Shanghai increased 19.46 points or 0.54% to 3,610.86
  • Hang Seng decreased 3.75 points or -0.01% to 28,738.88
  • ASX 200 increased 32.30 points or 0.44% to 7,302.50
  • Kospi increased 8.46 points or 0.26% to 3,224.64
  • SENSEX increased 358.83 points or 0.69% to 52,300.47
  • Nifty50 increased 102.40 points or 0.65% to 15,737.75

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00280 or 0.37% to 0.77573
  • NZDUSD increased 0.00280 or 0.39% to 0.72004
  • USDJPY decreased 0.19500 or -0.18% to 109.44
  • USDCNY decreased 0.00100 or -0.02% to 6.38732

Precious Metals:

  • Gold increased 5.52 USD/t oz. or 0.29% to 1,893.82
  • Silver increased 0.15 USD/t. oz or 0.55% to 27.904

Some economic news from last night:

Japan:

Foreign Bonds Buying increased from -1,089.9B to 665.9B

Foreign Investments in Japanese Stocks decreased from 181.4B to 94.5B

PPI (MoM) (May) decreased from 0.9% to 0.7%

PPI (YoY) (May) increased from 3.8% to 4.9%

Indonesia:

Retail Sales (YoY) (Apr) increased from -14.6% to 15.6%

Australia:

MI Inflation Expectations increased from 3.5% to 4.4%

New Zealand:

Electronic Card Retail Sales (YoY) (May) decreased from 108.7% to 18.1%

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