Market Talk - Wednesday, June 23


India’s antitrust watchdog on Tuesday ordered an investigation into allegations that Alphabet Inc’s Google abused its Android operating system’s position in the country’s smart television market. The Competition Commission of India (CCI), which last year began looking into a case filed by two lawyers against the U.S. tech giant, said its initial review found Google had breached certain anti-competitive laws.

Japan’s factory activity expanded at the slowest pace in four months in June, in a sign momentum in the world’s third-largest economy was leveling out before Tokyo is set to host the Olympic Games next month. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) fell to a seasonally adjusted 51.5 in June from a final 53.0 in the previous month, largely due to a sharp decline in output. Overall orders and export orders expanded, but at a weaker pace than in the previous month, the survey showed.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 decreased 9.24 points or -0.03% to 28,874.89
  • Shanghai increased 8.81 points or 0.25% to 3,566.22
  • Hang Seng increased 507.31 points or 1.79% to 28,817.07
  • ASX 200 decreased 43.70 points or -0.60% to 7,298.50
  • Kospi increased 12.31 points or 0.38% to 3,276.19
  • SENSEX decreased 282.63 points or -0.54% to 52,306.08
  • Nifty50 decreased 85.80 points or -0.54% to 15,686.95

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00297 or 0.39% to 0.75859
  • NZDUSD increased 0.00345 or 0.49% to 0.70564
  • USDJPY increased 0.25 or 0.22% to 110.89
  • USDCNY decreased 0.00088 or -0.01% to 6.47543

Precious Metals:

Gold increased 7.5 USD/t oz. or 0.42% to 1,786.01

Silver increased 0.376 USD/t. oz or 1.46%% to 26.124

Some economic news from last night:


Manufacturing PMI (Jun) decreased from 53.0 to 51.5

Services PMI (Jun) increased from 46.5 to 47.2

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