Market Talk – Thursday, August 22

ASIA:

More news emerging regarding a China retaliation of a possible US-Taiwan arms sales. A lot of the talks are subjective in nature, however, the deal for 66 aircrafts looks as if it will go through. China recently made an intention to stop purchasing US agriculture products, however, according to Reuters there have been some small purchases of soybeans over the past few weeks.

As we thought things were progressing well or better than before between Japan and South Korea, recent news shows that South Korea will now stop sharing military intelligence with Japan as the situation looks to turn worse.

Pakistani PM Khan stated today that there was “no point” in speaking with India over the Kashmir issue. India, meanwhile, is looking to re-evaluate a nuclear policy which is a “no first use of nuclear weapons” as the defense minister threatens Pakistan over the recent feud.

The major Asian stock markets had a mixed day today:

  • Shanghai increased 3.11 points or 0.11% to 2,883.44
  • Kospi decreased 13.64 points or -0.69% to 1,951.01
  • ASX 200 increased 18.50 points or 0.29% to 6,501.80
  • NIKKEI 225 increased 9.44 points or 0.05% to 20,628.01
  • Hang Seng decreased 221.32 points or -0.84% to 26,048.72
  • SENSEX decreased 587.44 points or -1.59% to 36,472.93

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.0022 or 0.32% to 0.6758
  • NZDUSD decreased 0.0035 or 0.55% to 0.6367
  • USDJPY decreased 0.1890 or 0.18% to 106.4210
  • USDCNY increased 0.0206 or 0.29% to 7.0869

Precious Metals:

  • Gold decreased 3.35 USD/t oz. or -0.22% to 1,499.95
  • Silver decreased 0.05 USD/t. oz or -0.29%% to 17.0876

Some economic news from last night:

Australia:

  • Manufacturing PMI  decreased from 51.6 to 51.3
  • Services PMI decreased from 52.3 to 49.2

Japan:

  • Foreign Bonds Buying increased from 175.8B to 499.7B
  • Foreign Investments in Japanese Stocks decreased from -187.1B to -359.6B
  • Manufacturing PMI (Aug) increased from 49.4 to 49.5
  • Services PMI increased from 51.8 to 53.4
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