Stock indexes of the largest countries in the Asia-Pacific region (APR) mostly rose in trading on Friday, with the exception of China’s Shanghai Composite, which fell after an initial rise.
Traders are awaiting a speech by US Federal Reserve Chairman Jerome Powell at the annual economic symposium in Jackson Hole.
The Japanese Nikkei 225 index rose 0.57% by the close of trading.
Among the components of the index, shares of polymer producer Unitika Ltd. rose the most. (+4.4%), chemical company Mitsui Chemicals Inc. (+3.1%) and special equipment manufacturer Komatsu (+3%).
China’s Shanghai Composite fell 0.3%, while Hong Kong’s Hang Seng rose 1%.
China has allocated 1 trillion yuan ($146 billion) to stimulate the economy, mainly focusing on infrastructure spending.
The State Council of China has unveiled a package of measures that includes an additional 300 billion yuan that state-owned banks can invest in infrastructure projects, on top of the 300 billion yuan announced at the end of June. In addition, regional authorities will receive 500 billion yuan in the form of special bonds from previously unused quotas. In turn, state-owned energy companies will be able to sell bonds worth 200 billion yuan. Meanwhile, the agricultural sector will receive 10 billion yuan in subsidies.
In Hong Kong, developer Longfor Group Holdings Ltd rose most significantly. (+5.7%), producing solar panels Xinyi Solar Holdings Ltd. (+5.4%) and biotech Wuxi Biologics (Cayman) Inc. (+5.3%).
Shares of CNOOC Ltd. fell by 1.1%, although China’s largest offshore oil and gas company more than doubled its net profit in the first half of 2022 thanks to rising oil prices.
South Korean index Kospi rose by 0.15%.
Shares of one of the world’s largest manufacturers of chips and consumer electronics Samsung Electronics Co. rose by 0.5%, automaker Hyundai Motor Co. – by 0.8%.
The Australian S&P/ASX 200 gained 0.8%.
The market value of the world’s largest mining company BHP rose by 1.5%, its competitor Rio Tinto Ltd. – by 1.4%.
National bank of Ukraine’s official rates as of 26/08/22
Source: National Bank of Ukraine
Oil quotes strengthened their rise during trading on Friday and are ending the week in positive territory due to reduced fears of a recession in the US.
October futures for Brent on London’s ICE Futures exchange rose by $1.57 (1.58%) to $100.91 per barrel by 14:11 CST.
Quotes of futures for WTI for October in electronic trading on the New York Mercantile Exchange (NYMEX) by the specified time increased by $1.22 (1.32%) – up to $93.74 per barrel.
On the eve of Brent has fallen in price by 1.9%, WTI – by 2.5%, but since the beginning of the week both contracts have increased in price by more than 3%.
Markets continue to receive support from the statistical data published the day before, according to which the reduction of US GDP in the second quarter amounted to 0.6% in terms of annual rates. The preliminary estimate was worse and indicated a fall of 0.9%.
In addition, Saudi Arabia, OPEC’s largest oil producer, has previously hinted at the possibility of a cartel cut in production, which also supports prices.
“A group of producing countries is committed to maintaining a price floor around $100 a barrel, and therefore downside potential appears to be limited,” said Stephen Brennock, an analyst at PVM.
Market participants also follow the annual economic symposium in Jackson Hole. On Friday, the event will feature a speech by Federal Reserve Chairman Jerome Powell, which could cause the dollar to react, which in turn will affect commodity prices, said SIA Wealth Management senior strategist Colin Czeszynski.
Central bank official rates of banking metals as of August 26
One troy ounce=31.10 grams
Press lunches that help frontline media and business grow.
Guys, we are pleased to announce that we are starting monthly press lunches with business and media to cover and discuss current issues in various areas. And at the same time, we do charity work to help journalists on the front lines.
THE MAIN OBJECTIVE
During the meetings, we will collect funds that can save the life of media worker Dmytro Boguslavsky, who is currently at the front.
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On September 8, the first press lunch on the topic of REAL ESTATE will be held.
Start time: 16:00
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Since the beginning of the 2022/2023 marketing year (MY, July-June), Ukraine has exported 3.41 million tons of grain crops, including 2.18 million tons of corn (64% of total supplies), 937 thousand tons of wheat (27.5% ) and 274 thousand tons of barley (8%).
As reported on the website of the Ministry of Agrarian Policy and Food on Friday, since the beginning of the current MY, the rate of grain exports has been 2.06 times lower than the same period last year (7.0 million tons were exported from July 1 to August 26, 2021).
At the same time, according to the agency, for the period of August 19-26, 430 thousand tons of grain crops were delivered to foreign markets (61.4 thousand tons daily), while for the previous period of August 11-19 – 770 thousand tons (96 .2 thousand tons daily), for August 5-11 – 340 thousand tons of grain crops (48.6 thousand tons daily), and for July 27-August 5 – 640 thousand tons of grain crops (71.1 thousand tons). tons per day). Thus, the average daily export rates over the past week decreased by 36.1% compared to the previous period.
In general, from the beginning of 2022/2023 MY and until August 26, 2022, Ukraine exported 937 thousand tons of wheat (3.6 times less compared to the same date in 2021/2022 MY), 274 thousand tons of barley (8.7 times less) and 10.1 thousand tons of flour (half as much).
However, the pace of corn exports exceeded last year’s volumes – 2.18 million tons were exported, which is 1.8 times more than in 2021/2022 MY. In addition, this week Ukraine for the first time since the beginning of 2022/2023 MY exported rye, 400 tons of this crop were sent to foreign markets. In total for the week of August 19-26, 240 thousand tons of corn, 154 thousand tons of wheat, 17 thousand tons of barley and 2.7 thousand tons of flour were delivered to foreign markets.
As reported, in MY 2021/2022, Ukraine exported 48.51 million tons of grains and legumes, which is 8.4% higher than in the previous marketing year, despite the full-scale invasion of the Russian Federation and difficulties with the export of agricultural products due to the blockade of Ukrainian seaports. 18.74 million tons of wheat were delivered to foreign markets (12.6% more than in 2020/2021MY), 23.54 million tons of corn (+1.9%), 5.75 million tons of barley (+35.9%) , 70.9 thousand tons of flour (-44.1%).
In 2020/2021 MY, the country exported 44.72 million tons of grain and leguminous crops: 16.64 million tons of wheat, 23.08 million tons of corn, 4.23 million tons of barley, 126.9 thousand tons of flour and 18.4 thousand . tons of rye.
In 2019/2020 MY, Ukraine exported 56.72 million tons of grain and leguminous crops.
