Market Talk – Friday, July 19

ASIA:

The latest news regarding the U.S.–China trade deal is that progress has stalled. China demands that the U.S. changes its stance and ease restrictions on Huawei. The U.S. and Chinese senior officials spoke by phone this week, this represents only the second call since the G20 meeting in June where the two countries agreed to a truce. Other news suggests that China is sending a warning to America over the supply of rare earth materials that are essential for technology to push the deal in their favor.

Taiwan’s president is currently in the Caribbean and is expected to transit in the U.S. for the second time this month in a move which is likely to anger the mainland. Vietnam meanwhile has asked China to withdraw a vessel which is currently in the South China Sea.

Some economic data regarding China’s total corporate, household, and government debt rising to over 300% this quarter has alerted some analysts over the upcoming debt issues. China now accounts for 15% of the worldwide debt. Blackrock’s investment chief said that a lot of CEO’s have told him they are moving out of China due to the tariffs.

The major Asian stock markets had a mixed day today:

  • Shanghai increased 23.02 points or 0.79% to 2,924.20
  • Kospi increased 27.81 points or 1.35% to 2,094.36
  • ASX 200 increased 51.20 points or 0.77% to 6,700.30
  • NIKKEI 225 increased 420.75 points or 2.00% to 21,466.99
  • Hang Seng increased 303.74 points or 1.07% to 28,765.40
  • SENSEX decreased 560.45 points or -1.44% to 38,337.01

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.0032 or 0.45% to 0.7043
  • NZDUSD decreased 0.0008 or 0.12% to 0.6773
  • USDJPY increased 0.4950 or 0.46% to 107.7850
  • USDCNY increased 0.0113 or 0.16% to 6.8831

Precious Metals:

  • Gold decreased 22.65 USD/t oz. or -1.57% to 1,420.99
  • Silver decreased 0.20 USD/t. oz or -1.19% to 16.1635

Some economic news from last night:

New Zealand:

  • Credit Card Spending (YoY) decreased from 6.7% to 6.6%

South Korea:

  • PPI (MoM) (Jun) decreased from 0.0% to -0.3%
  • PPI (YoY) (Jun) decreased from 0.4% to 0.1%

Japan:

  • National Core CPI (YoY) (Jun) decreased from 0.8% to 0.6%
  • National CPI (MoM) remain the same at 0.0%
  • National CPI (YoY) (Jun) remain the same at 0.7%
  • Foreign Bonds Buying increased from 297.0B to 950.0B
  • Foreign Investments in Japanese Stocks decreased from 192.2B to -93.1B
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