Market Talk – Tuesday, August 13

ASIA:

Today the US stated that it will remove Chinese imports from its target list and delay tariffs up to December 15th from the 1st of September on Chinese cell phones, laptops, and other electrical goods which in turn caused a rally in the US markets. The office of the US Trade Representative stated that it still hasn’t deviated from the plans of a 10% tariff on approximately 300 bn USD worth of Chinese imports.

Meanwhile, Hong Kong police are clashing with protesters at the main airport, police were said to be using batons and pepper sprays as violence erupted between the police and for the most part peaceful protestors. At least 40 people are said to be injured from the protests since the weekend.

Indian car manufacturing industry is in decline as recent figures showed that the sales of passenger vehicles has plunged 31% in July, marking the worst monthly drop in more than 18 years.

The major Asian stock markets had a negative day today:

  • Shanghai decreased 17.73 points or -0.63% to 2,797.26
  • Kospi decreased 16.46 points or -0.85% to 1,925.83
  • ASX 200 decreased 21.80 points or -0.33% to 6,568.50
  • NIKKEI 225 decreased 229.38 points or -1.11% to 20455.44
  • Hang Seng decreased 543.42 points or -2.10% to 25,281.30
  • SENSEX decreased 623.75 points or -1.66% to 36,958.16

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.0040 or 0.60% to 0.6792
  • NZDUSD increased 0.0005 or 0.07% to 0.6451
  • USDJPY increased 1.3650 or 1.30% to 106.6550
  • USDCNY decreased 0.0886 or 1.25% to 7.0135

Precious Metals:

  • Gold decreased 8.55 USD/t oz. or -0.57% to 1,503.46
  • Silver decreased 0.0935 USD/t. oz or -0.55% to 16.9550

Some economic news from last night:

New Zealand:

  • FPI (MoM) (Jul) increased from -0.7% to 1.1%

Japan:

  • PPI (MoM) (Jul) increased from -0.5% to 0.0%
  • PPI (YoY) (Jul) decreased from -0.1% to -0.6%

Singapore:

  • GDP (YoY) (Q2) remain the same at 0.1%
  • GDP (QoQ) (Q2) increased from -3.4% to -3.3%

Australia:

  • NAB Business Confidence (Jul) increased from 2 to 4
  • NAB Business Survey (Jul) decreased from 3 to 2
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