Market Talk – Tuesday, Oct. 8

ASIA:

The US administration has sanctioned three of the world’s largest facial recognition startups, prohibiting them from purchasing US products or maintaining relationships with American entities. The US is accusing China of unfair treatment of the Uighurs, which China is setting up a database using facial recognition software to keep tabs on its citizens in that region.

Chinese “golden week” attracts people from around the world travel to China to enjoy heavy discounts. Yet, this year’s event has seen its lowest numbers in more than a decade. In addition, actual retail and catering sales rose at a decent 8.5% but has been decelerating from last year’s rate of 9.5% which marks the slowest growth since 2001. Naturally, the US-China trade deals, as well as slow global growth, have been to blame.

According to the FT, China’s state broadcaster CCTV and Tencent, the main distributors of the NBA in the country, have halted plans to air the basketball league’s pre-season games due to one manager of a team tweeting support for the Hong Kong protestors.

Indian Defense Minister Rajnath Singh received the first order of 36 Rafale fighter jets for the Indian Air Force (IAF). The Defense Minister stated the deal was “historic” and it is strengthening strategic ties between India and France.

The major Asian stock markets had a green day today:

  • Shanghai increased 8.38 points or 0.29% to 2,913.57
  • Kospi increased 24.52 points or 1.21% to 2,046.25
  • ASX 200 increased 29.80 points or 0.45% to 6,593.40
  • NIKKEI 225 increased 212.53 points or 0.99% to 21,587.78
  • Hang Seng increased 72.37 points or 0.28% to 25,893.40
  • SENSEX closed (public holiday)

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.0001 or 0.01% to 0.6730
  • NZDUSD increased 0.0008 or 0.13% to 0.6296
  • USDJPY decreased 0.0720 or 0.07% to 107.2080
  • USDCNY increased 0.0164 or 0.23% to 7.1498

Precious Metals:

  • Gold increased 8 USD/t oz. or 0.54% to 1,503.49
  • Silver increased 0.255 USD/t. oz or 1.46%% to 17.7038

Some economic news from last night:

Australia:

  • ANZ Job Advertisements (MoM) increased from -2.6% to 0.3%
  • NAB Business Confidence (Sep) decreased from 1 to 0
  • NAB Business Survey (Sep) increased from 1 to 2

China:

  • Caixin Services PMI (Sep) decreased from 52.1 to 51.3

Japan:

  • Average Cash Earnings (YoY) increased from -1.0% to -0.2%
  • Household Spending (YoY) (Aug) increased from 0.8% to 1.0%
  • Household Spending (MoM) (Aug) increased from -0.9% to 2.4%
  • Overall wage income of employees (Aug) increased from -1.0% to -0.2%
  • Overtime Pay (YoY) (Aug) increased from 0.10% to 0.90%
  • Current Account n.s.a. (Aug) increased from 2.000T to 2.158T
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. Users' ratings are only visible to themselves.

Comments

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