Market Talk - Wednesday, Oct. 13

ASIA:

India’s economy, which contracted by 7.3 percent due to the Covid-19 pandemic, is expected to grow by 9.5 percent in 2021 and 8.5 percent in 2022, according to latest projections released by the International Monetary Fund on Tuesday. India’s growth projection released by the latest World Economic Outlook remains unchanged from its previous WEO (World Economic Outlook) update of July this summer. Still, it is a three-percentage point, and 1.6 percentage point drop from its April projections.

China, on the other hand, the IMF said is projected to grow at 8 percent in 2021 and 5.6 percent in 2022. According to the latest WEO update, released ahead of the annual meeting of the IMF and the World Bank, the world economy is expected to grow at a rate of 5.9 percent in 2021 and 4.9 percent in 2022.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 decreased 90.33 or -0.32% to 28,140.28
  • Shanghai increased 14.83 or 0.42% to 3,561.76
  • Hang Seng increased 57.75or 0.23% to 25,020.34
  • ASX 200 decreased 8.20 points or -0.11% to 7,272.50
  • Kospi increased 28.03 points or 0.96% to 2,944.41
  • SENSEX increased 452.74 points or 0.75% to 60,737.05
  • Nifty50 increased 169.80 points or 0.94% to 18,161.75

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00297 or 0.40% to 0.73743
  • NZDUSD increased 0.00280 or 0.41% to 0.69577
  • USDJPY decreased 0.13 or -0.11% to 113.43
  • USDCNY decreased 0.0248 or -0.38% to 6.42855

Precious Metals:

  • Gold increased 31.73 USD/t oz. or 1.80% to 1,791.66
  • Silver increased 0.568 USD/t. oz or 2.52% to 23.101

Some economic news from last night:

China:

Exports (YoY) (Sep) increased from 25.6% to 28.1%

Imports (YoY) (Sep) decreased from 33.1% to 17.6%

Trade Balance (USD) (Sep) increased from 58.34B to 66.76B

Japan:

Reuters Tankan Index (Oct) decreased from 18 to 16

Core Machinery Orders (MoM) (Aug) decreased from 0.9% to -2.4%

Core Machinery Orders (YoY) (Aug) increased from 11.1% to 17.0%

1 2 3 4
View single page >> |

Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.