Market Talk - Tuesday, Oct. 13

ASIA:

The Australian government is seeking assurances from China over the impact of reported curbs of coal imports, while calling on Beijing to end the freeze on ministerial talks as concerns grow about widening trade tensions. There has not yet been any official confirmation of the move – first reported by S&P Global Platts and Argus Media – but Australia’s trade minister, Simon Birmingham, said the government had made approaches to China “through diplomatic channels overnight”.

The IMF said in its report Indian economy will contract by 10.3% in 2020. The 2020 projection for India is a downgrade of -5.8 percentage points from the IMF’s June projection for the country. India is expected to rebound in 2021 with 8.8 percent growth – an upgrade of 2.8 percentage points relative to the June update.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 43.09 points or 0.18% to 23,601.78
  • Shanghai increased 1.28 points or 0.04% to 3,359.75
  • Hang Seng closed
  • ASX 200 increased 63.70 points or 1.04% to 6,195.70
  • Kospi decreased 0.58 points or -0.02% to 2,403.15
  • SENSEX increased 31.71 points or 0.08% to 40,625.51
  • Nifty50 increased 3.55 points or 0.03% to 11,934.50

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.00482 or -0.67% to 0.71596
  • NZDUSD decreased 0.00066 or -0.10% to 0.66411
  • USDJPY increased 0.23 or 0.22% to 105.56
  • USDCNY increased 0.00201 or 0.03% to 6.74584

Precious Metals:

  • Gold decreased 28.80 USD/t oz. or -1.50% to 1,893.15
  • Silver decreased 1.05 USD/t. oz or -4.19% to 24.059

Some economic news from last night:

China:

Exports (YoY) (Sep) increased from 9.5% to 9.9%

Imports (YoY) (Sep) increased from -2.1% to 13.2%

Trade Balance (USD) (Sep) decreased from 58.93B to 37.00B

Japan:

Reuters Tankan Index (Oct) increased from -29 to -26

M2 Money Stock (YoY) increased from 8.6% to 9.0%

M3 Money Supply (Sep) increased from 1,906.3T to 1,915.2T

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