Market Talk – Friday, August 9

ASIA:

The IMF has released a report stressing that the US-China trade war be resolved quickly as it is putting pressure on global growth. “That is not only good for China and the U.S., but also for the international community as a whole,” Jin Zhongxia, executive director for the People’s Republic of China, says in a statement.

As the 10th week of protests against China took place. Thousands of Hong Kong residents continue to protest against mainland China. This time, residents have taken to the airport as many demonstrators gather and take place and occupy parts of the international airport. The protests are expected to take 3 days. Mrs. Lam stated that the protests are causing a lot of issues for the country — a 30% decline in tourists since the protests began. The protestors are handing out leaflets with 5 demands by the protestors.

The UN has stated that North Korea have stolen up to 2 billion USD from financial institutions and cryptocurrency exchanges to fund their weapon purchases.

India has formed a military lockdown parts of Kashmir, a blackout and a curfew to halt expected demonstrations against recent decisions by India. There has also been large demonstrations in Pakistan against India’s actions.

Malaysia charges 17 current and former Goldman Sachs directors due to the 1MDB scandal.

The major Asian stock markets had a mixed day today:

  • Shanghai decreased 19.80 points or -0.71% to 2,774.75
  • Kospi increased 17.14 points or 0.89% to 1,937.75
  • ASX 200 increased 16.30 points or 0.25% to 6,584.40
  • NIKKEI 225 increased 91.47 points or 0.44% to 20,684.82
  • Hang Seng decreased 181.47 points or -0.69% to 25,939.30
  • SENSEX increased 254.55 points or 0.68% to 37,581.91

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.0005 or 0.08% to 0.6795
  • NZDUSD decreased 0.0007 or 0.10% to 0.6471
  • USDJPY decreased 0.6690 or 0.63% to 105.3910
  • USDCNY increased 0.0272 or 0.38% to 7.1040

Precious Metals:

  • Gold increased 2.30 USD/t oz. or 0.15% to 1,499.52
  • Silver increased 0.07 USD/t. oz or 0.43% to 16.9391

Some economic news from last night:

Japan:

  • GDP (YoY) (Q2) decreased from 2.2% to 1.8%
  • GDP (QoQ) (Q2) decreased from 0.6% to 0.4%
  • GDP Capital Expenditure (QoQ) (Q2) increased from 0.3% to 1.5%
  • GDP External Demand (QoQ) (Q2) decreased from 0.4% to -0.3%
  • GDP Price Index (YoY) remain the same at 0.1%
  • GDP Private Consumption (QoQ) (Q2) increased from -0.1% to 0.6%
  • M2 Money Stock (YoY) increased from 2.3% to 2.4%
  • M3 Money Supply (Jul) increased from 1,802.9T to 1,807.7T

China:

  • CPI (YoY) (Jul) increased from 2.7% to 2.8%
  • CPI (MoM) (Jul) increased from -0.1% to 0.4%
  • PPI (YoY) (Jul) decreased from 0.0% to -0.3%
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