Showing posts with label Asian. Show all posts
Showing posts with label Asian. Show all posts
Wednesday
Asian Market Update: Greek PSI offer rejected, Japan fiscal and economic outlook cloudy, IMF to Aussie banks - raise your capital
For the second consecutive day only Australia and Japan were open due to the New Year's celebrations, equities markets were decidedly more positive today with hopes that a resolution may be reached for Greece. EU's Juncker said that the PSI must ......
Tuesday
Asian Market Update: Japan sees first trade deficit in more than 3 decades in 2011; Australia inflation at a multi-year low
***Economic Data*** - (JP) JAPAN DEC MERCHANDISE TRADE BALANCE: -#165;205B V -#165;170BE; ADJUSTED TRADE BALANCE: -#165;568B V -#165;385BE (multi-year low); 2011 Trade deficit #165;2.49T (1st deficit since 1980) - (AU) AUSTRALIA Q4 CONSUMER ......
Monday
Asian Market Update: Fed comments give a boost, but markets cannot sustain with continued global uncertainties; Singapore GDP at multi-year low
***Economic Data*** - (KR) SOUTH KOREA Q4 PRELIM GDP Q/Q: 0.4% V 0.5%E; Y/Y: 3.4% V 3.5%E - (SG) SINGAPORE DEC INDUSTRIAL PRODUCTION M/M: 7.8% V 2.2%E; Y/Y: 12.6% V 6.4%E - (JP) JAPAN DEC CORPORATE SERVICE PRICE INDEX Y/Y: 0.1% V 0.0%E (1st ......
Sunday
Asian Market Update: NZ reports trade surplus; Yen continues to strengthen
***Economic Data*** - (NZ) NEW ZEALAND DEC TRADE BALANCE (NZ$): +338M V -50ME (1st surplus in 5-months) - (JP) JAPAN DEC RETAIL TRADE M/M: 0.3% V 0.4%E; Y/Y: 2.5% V 2.1%E (16-month high); LARGE RETAILERS' SALES Y/Y: % V -0.6%E - (JP) JAPAN D...
Saturday
Asian Market Update: Markets tumble on EU downgrades, Australia home loans climb for the 8th month
Asian equity markets traded to the downside after the SP cut several EU sovereign ratings on Friday. On renewed risk aversion saw the the dollar gain against all the majors, seeing the biggest gains against the A$. Euro held steady down 0.3% to the $1.26...
Friday
Asian Market Update: Tense markets react to geopolitical events ahead of US Payrolls
06.01.2012 13:19 Friday ***Economic Data***- (CO) COLOMBIA DEC CPI M/M: 0.4% V 0.3%E; Y/Y: 3.7% V 3.6%E
***Markets Snapshot (as of 04:30GMT)***
- Nikkei225 -0.9%
- S&P/ASX -0.7%
- Kospi -1.6%
- Taiwan Taiex -0.1%
- Singapore Straits Times -0.2%
- Shanghai Composite -0.3%
- Hang Seng -1.4%
- S&P Futures -0.4% at 1,268
- Feb Gold +0.3% at $1,625/oz
- March Crude -0.2% at $101.65
***Overview/Top Headlines***
- Markets were mostly subdued through the session, seemingly not concerned ahead of the US non-farm payrolls and more concerned over the future of Europe. EUR/USD extended its decline below $1.2765, fresh 15-month lows. Gold has resumed its safe haven status testing $1,628, a 2-week high. Near the end of the Asia session a report came across that there was an incident at a North Korea nuclear facility, details were very limited. KRW fell to session lows testing KRW1,155, the yen gained 0.3% against the won and Kospi fell 2% below 1,825. About 30 minutes later officials from Japan and South Korea said they had not heard of any incidents in North Korea.
- China's major oil companies, Sinopec, CNOOC and PetroChina had a boost after China Ministry of Finance raised the threshold on which mainland oil companies will have to pay a windfall tax to $55/barrel from $40. It is expected that this new measure may offset the extra cost brought on by the resource tax in Oct. The govt also took measures to support the banking sector announcing that the CBRC will delay higher capital requirements for big banks until July 1st v Jan 1st prior. The CBRC is calling for capital adequacy ratio of 11.5% and a core ratio of 9.5% v the current capital adequacy ratio requirement of 5-8% depending on the bank.
- Samsung Electronics reported their preliminary Q4 guiding operating profit at KRW5.2T, beating expectations and prior quarter. Sees Rev at KRW47.0T much higher than Q3 and also beating expectations. Both Singapore Air and Qantas confirmed that they had found small cracks in the A30 wing ribs, both said that they did not present a flight risk and they would repair the planes.
***Speakers/Geopolitical/In the press***
- (JP) Japan Fin Min Azumi: EU needs to make efforts to win investors' trust; Would like to see the EU establish a firewall
- (CN) New deposits at China's top 4 banks in December saw an increase of CNY1.25T; New loans were about CNY210B - Chinese press
- (JP) Japan PM Noda: Cabinet will endorse sales tax increase plan
- (EU) ECB's Knot: Crisis of confidence unfolding in Europe; EU aid fund is not large enough, largest hurdle for increasing the EFSF is Germany - Dutch media
- (CN) China Housing Min Weixin: To set up a housing database to track prices and homeownership for 40 cities
***Equities***
- Samsung Electronics, 005930.KR: Reports Prelim Q4 Op profit KRW5.2T (record high) v KRW4.7Te (KRW4.25T q/q) ; Rev KRW47.0T v KRW46.2Te (KRW41.3T q/q)
- Lenovo Group, 992.HK: Preparing a global restructuring plan by reorganizing geographical business units - US financial press
- ASX.AU: Reports Dec capital raised A$9.0B, -45% y/y; 2011 capital raised A$48.6B, -11% y/y
- SNP: Reports 2011 crude output +0.4% y/y; Natural gas output +16.8% y/y
- TM: Targeting to sell more than 1M cars in China in 2012, +10% y/y (+4% y/y in 2011) - Chinese press
- Guangzhou Automobile, 2238.HK: May only make 80-90% of forecasted profit in 2011 - filing
- APOL: Reports Q1 $1.28 (adj) v $1.18e, R$1.18B v $1.2Be; +2.0% afterhours
- AA: TO CLOSE OR CURTAIL 531K METRIC TONS OF SMELTING CAPACITY (12% of total capacity); sees charges of $0.15-0.16 in Q4; -1.7% afterhours
- FDO: Reports Q1 $0.68 v $0.68e, R$2.15B v $2.2Be; -2.9% afterhours
***FX/Fixed Income/Commodities***
- (IN) India Dec tea production 90.3M kilos v 93.9M kilos prior
- (AR) Argentina Agriculture Min Solis: Will eliminate export quotas for wheat, will sell under a new system; Likely to do the same for corn but no decision has been made
- SLV: iShares Silver Trust ETF daily holdings fall to 9,547.0 tons from 9,605.8 tons (lowest level since 9,500 on July, 2011)
***Markets Snapshot (as of 04:30GMT)***
- Nikkei225 -0.9%
- S&P/ASX -0.7%
- Kospi -1.6%
- Taiwan Taiex -0.1%
- Singapore Straits Times -0.2%
- Shanghai Composite -0.3%
- Hang Seng -1.4%
- S&P Futures -0.4% at 1,268
- Feb Gold +0.3% at $1,625/oz
- March Crude -0.2% at $101.65
***Overview/Top Headlines***
- Markets were mostly subdued through the session, seemingly not concerned ahead of the US non-farm payrolls and more concerned over the future of Europe. EUR/USD extended its decline below $1.2765, fresh 15-month lows. Gold has resumed its safe haven status testing $1,628, a 2-week high. Near the end of the Asia session a report came across that there was an incident at a North Korea nuclear facility, details were very limited. KRW fell to session lows testing KRW1,155, the yen gained 0.3% against the won and Kospi fell 2% below 1,825. About 30 minutes later officials from Japan and South Korea said they had not heard of any incidents in North Korea.
- China's major oil companies, Sinopec, CNOOC and PetroChina had a boost after China Ministry of Finance raised the threshold on which mainland oil companies will have to pay a windfall tax to $55/barrel from $40. It is expected that this new measure may offset the extra cost brought on by the resource tax in Oct. The govt also took measures to support the banking sector announcing that the CBRC will delay higher capital requirements for big banks until July 1st v Jan 1st prior. The CBRC is calling for capital adequacy ratio of 11.5% and a core ratio of 9.5% v the current capital adequacy ratio requirement of 5-8% depending on the bank.
- Samsung Electronics reported their preliminary Q4 guiding operating profit at KRW5.2T, beating expectations and prior quarter. Sees Rev at KRW47.0T much higher than Q3 and also beating expectations. Both Singapore Air and Qantas confirmed that they had found small cracks in the A30 wing ribs, both said that they did not present a flight risk and they would repair the planes.
***Speakers/Geopolitical/In the press***
- (JP) Japan Fin Min Azumi: EU needs to make efforts to win investors' trust; Would like to see the EU establish a firewall
- (CN) New deposits at China's top 4 banks in December saw an increase of CNY1.25T; New loans were about CNY210B - Chinese press
- (JP) Japan PM Noda: Cabinet will endorse sales tax increase plan
- (EU) ECB's Knot: Crisis of confidence unfolding in Europe; EU aid fund is not large enough, largest hurdle for increasing the EFSF is Germany - Dutch media
- (CN) China Housing Min Weixin: To set up a housing database to track prices and homeownership for 40 cities
***Equities***
- Samsung Electronics, 005930.KR: Reports Prelim Q4 Op profit KRW5.2T (record high) v KRW4.7Te (KRW4.25T q/q) ; Rev KRW47.0T v KRW46.2Te (KRW41.3T q/q)
- Lenovo Group, 992.HK: Preparing a global restructuring plan by reorganizing geographical business units - US financial press
- ASX.AU: Reports Dec capital raised A$9.0B, -45% y/y; 2011 capital raised A$48.6B, -11% y/y
- SNP: Reports 2011 crude output +0.4% y/y; Natural gas output +16.8% y/y
- TM: Targeting to sell more than 1M cars in China in 2012, +10% y/y (+4% y/y in 2011) - Chinese press
- Guangzhou Automobile, 2238.HK: May only make 80-90% of forecasted profit in 2011 - filing
- APOL: Reports Q1 $1.28 (adj) v $1.18e, R$1.18B v $1.2Be; +2.0% afterhours
- AA: TO CLOSE OR CURTAIL 531K METRIC TONS OF SMELTING CAPACITY (12% of total capacity); sees charges of $0.15-0.16 in Q4; -1.7% afterhours
- FDO: Reports Q1 $0.68 v $0.68e, R$2.15B v $2.2Be; -2.9% afterhours
***FX/Fixed Income/Commodities***
- (IN) India Dec tea production 90.3M kilos v 93.9M kilos prior
- (AR) Argentina Agriculture Min Solis: Will eliminate export quotas for wheat, will sell under a new system; Likely to do the same for corn but no decision has been made
- SLV: iShares Silver Trust ETF daily holdings fall to 9,547.0 tons from 9,605.8 tons (lowest level since 9,500 on July, 2011)
Thursday
Asian Market Update: Markets cautious ahead of meeting between Germany and France; China 2011 yuan loans fail to top 2010
09.01.2012 08:47 Monday ***Economic Data***- (AU) AUSTRALIA NOV RETAIL SALES M/M: 0.0% V 0.4%E (5-month low)
- (CN) CHINA DEC NEW YUAN LOANS (CNY): 640.5B V 575BE (8-month high); 2011 NEW LOANS CNY7.47T V CNY7.95T IN 2010
- (NZ) NEW ZEALAND NOV TRADE BALANCE (NZ$): -308M V -300ME (4th consecutive deficit)
- (CN) CHINA DEC M2 MONEY SUPPLY Y/Y: 13.6% V 12.9%E (5-month high); M1 Y/Y: 7.9% V 7.8% PRIOR
- (KR) SOUTH KOREA DEC PRODUCER PRICE INDEX (PPI) Y/Y: 4.3% V 5.1% PRIOR (15-month low)
- (UK) UK DEC LLOYDS EMPLOYMENT CONFIDENCE: -75 V -75 PRIOR (matches multi-month-low)
- (AU) AUSTRALIA NOV HIA NEW HOME SALES M/M: 6.8% V 2.8% PRIOR (21-month high)
- (AU) AUSTRALIA DEC AIG PERFORMANCE OF CONSTRUCTION INDEX: 41.0 V 39.6 PRIOR (10-month high; 19th consecutive month of contraction)
***Markets Snapshot (as of 04:30GMT)***
- Nikkei225 closed
- S&P/ASX unchanged
- Kospi -1.2%
- Taiwan Taiex -0.7%
- Singapore Straits Times -0.9%
- Shanghai Composite +1.4%
- Hang Seng -0.9%
- S&P Futures -0.4% at 1,269
- Feb Gold -0.5% at $1,609/oz
- March Crude -0.5% at $101.02
***Overview/Top Headlines***
- Markets were very cautious today, after several opened slightly to the upside they quickly fell into negative territory despite stronger US economic data on Friday. Europe's debt crisis continues to weigh on the markets ahead of today's meeting of German Chancellor Merkel and French President Sarkozy. There are several sovereign bond auctions this week in Europe starting with Greece on Monday and Germany on Tuesday, Spain will sell debt maturing in 2015 and 2016 on Thursday, while Italy will auction three-, five- and 15-year bills on Friday.
- The situation in Iran continues to drive Brent prices higher, testing $113.30 as the UK announced it was sending its newest warship to the Gulf in response to Iranian threat to close the Strait of Hormuz. Iran announced that it had replaced the USD with the Russian ruble for some of its oil transactions with Moscow. SocGen analysts look at situation in Iran: Would be relatively easy for Iran to shut down the Straits of Hormuz; but would need to be able to keep it closed for a long period of time to inflict any economic impact on Western countries relying on the oil. "In the event of a shutdown of the Straits of Hormuz, disrupting 15 Mb/d of crude flows, we would expect Brent prices to spike into the $150-200 range for a limited time period. The disruption would definitely result in an IEA strategic release."
- Yen had strong early gains, testing below ¥76.80 and EUR/JPY extended its decline to an 11 year low of ¥97.50. Japan was closed for a holiday and no comments came from officials or the central bank. EUR/USD fell to a 16-month low below $1.2690. A$ lost over 0.5% against the USD after retail sales came in at a 5-month low with a flat reading m/m.
- China reported December new yuan loans of CNY640.5B, this was an 8-month high after the PBoC loosened lending requirements amid slowing economic growth towards the end of the year. However, 2011 new yuan loans were still below 2010 levels. According to analysts, 2012 new yuan loans will rise about 14% from CNY7.47T in 2011. PBoC Gov Zhou said that China may widen Yuan trading band when capital flows become more balanced; Not a good time to liberalize interest rates now. Reiterated will continue implementation of "prudent" monetary policy with some fine-tuning in 2012.
***Speakers/Geopolitical/In the press***
- (CN) Shanghai new home sales -42% w/w; New home prices -17.03% w/w - Uwin
- According to global central bank governors, banks in EU, Japan, and US to be subject to tests for compliance with Basel standards starting in early 2012 0 financial press
- (CN) PBoC to implement a deposit security system, requiring financial institutions to contribute to a fund that would protect customers in case of a bank became insolvent - Chinese press
- (KR) Bank of Korea (BOK) may raise reserve requirement ratio - Korean press
- (HK) According to Centaline Property Agency the secondary market over the weekend saw only 5 home sell v 11 last weekend; Primary market sales remain "brisk" - HK Standard
***Equities***
- SNP: Targeting to double oil output to 50M tons by 2015 v 22.9M tons in 2011 - Chinese press
- BYD, 1211.HK: China Finance Ministry to suspend sales tax on electric vehicles made by domestic automakers BYD and SAIC Motor - China Daily
- Hyundai Motor, 005380.KR: Production suspended at engine factory in South Korea's city of Ulsan after employee set himself on fire in protest of anti-union activity - financial press
- AVM.AU: Minmetals Resources' A$1.2B takeover bid for Anvil will expire on Wednesday, with no acceptance from shareholders expect the largest one Trafigura - Australia Financial Review
***FX/Fixed Income/Commodities***
Supplies of arabica beans are limited due to rain in Colombia and Central America damaging crops; Brazil harvest is months away from being ready - financial press
- (CN) CHINA DEC NEW YUAN LOANS (CNY): 640.5B V 575BE (8-month high); 2011 NEW LOANS CNY7.47T V CNY7.95T IN 2010
- (NZ) NEW ZEALAND NOV TRADE BALANCE (NZ$): -308M V -300ME (4th consecutive deficit)
- (CN) CHINA DEC M2 MONEY SUPPLY Y/Y: 13.6% V 12.9%E (5-month high); M1 Y/Y: 7.9% V 7.8% PRIOR
- (KR) SOUTH KOREA DEC PRODUCER PRICE INDEX (PPI) Y/Y: 4.3% V 5.1% PRIOR (15-month low)
- (UK) UK DEC LLOYDS EMPLOYMENT CONFIDENCE: -75 V -75 PRIOR (matches multi-month-low)
- (AU) AUSTRALIA NOV HIA NEW HOME SALES M/M: 6.8% V 2.8% PRIOR (21-month high)
- (AU) AUSTRALIA DEC AIG PERFORMANCE OF CONSTRUCTION INDEX: 41.0 V 39.6 PRIOR (10-month high; 19th consecutive month of contraction)
***Markets Snapshot (as of 04:30GMT)***
- Nikkei225 closed
- S&P/ASX unchanged
- Kospi -1.2%
- Taiwan Taiex -0.7%
- Singapore Straits Times -0.9%
- Shanghai Composite +1.4%
- Hang Seng -0.9%
- S&P Futures -0.4% at 1,269
- Feb Gold -0.5% at $1,609/oz
- March Crude -0.5% at $101.02
***Overview/Top Headlines***
- Markets were very cautious today, after several opened slightly to the upside they quickly fell into negative territory despite stronger US economic data on Friday. Europe's debt crisis continues to weigh on the markets ahead of today's meeting of German Chancellor Merkel and French President Sarkozy. There are several sovereign bond auctions this week in Europe starting with Greece on Monday and Germany on Tuesday, Spain will sell debt maturing in 2015 and 2016 on Thursday, while Italy will auction three-, five- and 15-year bills on Friday.
- The situation in Iran continues to drive Brent prices higher, testing $113.30 as the UK announced it was sending its newest warship to the Gulf in response to Iranian threat to close the Strait of Hormuz. Iran announced that it had replaced the USD with the Russian ruble for some of its oil transactions with Moscow. SocGen analysts look at situation in Iran: Would be relatively easy for Iran to shut down the Straits of Hormuz; but would need to be able to keep it closed for a long period of time to inflict any economic impact on Western countries relying on the oil. "In the event of a shutdown of the Straits of Hormuz, disrupting 15 Mb/d of crude flows, we would expect Brent prices to spike into the $150-200 range for a limited time period. The disruption would definitely result in an IEA strategic release."
- Yen had strong early gains, testing below ¥76.80 and EUR/JPY extended its decline to an 11 year low of ¥97.50. Japan was closed for a holiday and no comments came from officials or the central bank. EUR/USD fell to a 16-month low below $1.2690. A$ lost over 0.5% against the USD after retail sales came in at a 5-month low with a flat reading m/m.
- China reported December new yuan loans of CNY640.5B, this was an 8-month high after the PBoC loosened lending requirements amid slowing economic growth towards the end of the year. However, 2011 new yuan loans were still below 2010 levels. According to analysts, 2012 new yuan loans will rise about 14% from CNY7.47T in 2011. PBoC Gov Zhou said that China may widen Yuan trading band when capital flows become more balanced; Not a good time to liberalize interest rates now. Reiterated will continue implementation of "prudent" monetary policy with some fine-tuning in 2012.
***Speakers/Geopolitical/In the press***
- (CN) Shanghai new home sales -42% w/w; New home prices -17.03% w/w - Uwin
- According to global central bank governors, banks in EU, Japan, and US to be subject to tests for compliance with Basel standards starting in early 2012 0 financial press
- (CN) PBoC to implement a deposit security system, requiring financial institutions to contribute to a fund that would protect customers in case of a bank became insolvent - Chinese press
- (KR) Bank of Korea (BOK) may raise reserve requirement ratio - Korean press
- (HK) According to Centaline Property Agency the secondary market over the weekend saw only 5 home sell v 11 last weekend; Primary market sales remain "brisk" - HK Standard
***Equities***
- SNP: Targeting to double oil output to 50M tons by 2015 v 22.9M tons in 2011 - Chinese press
- BYD, 1211.HK: China Finance Ministry to suspend sales tax on electric vehicles made by domestic automakers BYD and SAIC Motor - China Daily
- Hyundai Motor, 005380.KR: Production suspended at engine factory in South Korea's city of Ulsan after employee set himself on fire in protest of anti-union activity - financial press
- AVM.AU: Minmetals Resources' A$1.2B takeover bid for Anvil will expire on Wednesday, with no acceptance from shareholders expect the largest one Trafigura - Australia Financial Review
***FX/Fixed Income/Commodities***
Supplies of arabica beans are limited due to rain in Colombia and Central America damaging crops; Brazil harvest is months away from being ready - financial press
Wednesday
Asian Market Update: Equities rally, USD weakens with some risk appetite returning
***Economic Data***- (CN) CHINA DEC TRADE BALANCE: $16.5B V $8.8BE
- (AU) AUSTRALIA NOV BUILDING APPROVALS M/M: 8.4% V 6.0%E (3-month high); Y/Y: -18.9% V -19.8%E
- (UK) UK DEC RICS HOUSE PRICE BALANCE: -16% V -19%E (17-month high)
- (UK) UK DEC BRC SALES LFL Y/Y: 2.2% V 0.4%E (8-month high)
- (NZ) NEW ZEALAND DEC QV HOUSE PRICES Y/Y: 2.4% V 1.7% PRIOR (15-month high)
- (NZ) NEW ZEALAND NOV BUILDING PERMITS M/M: -6.4% V +3.3%E
- (PH) PHILIPPINES NOV TOTAL EXPORTS: -19.4% V -10.0%E; TOTAL MONTHLY EXPORTS: $3.3B V $4.1B PRIOR
- (MA) MALAYSIA NOV INDUSTRIAL PRODUCTION Y/Y: 1.8% V 3.5%E; MANUFACTURING SALES VALUE Y/Y: 6.3% V 11.8% PRIOR
- (JP) Japan investors sell ¥155B in foreign bonds last week v ¥146B bought in prior week
***Markets Snapshot (as of 05:00GMT)***
- Nikkei225 +0.4%
- S&P/ASX +1.2%
- Kospi +1.7%
- Taiwan Taiex +1.2%
- Singapore Straits Times +0.8%
- Shanghai Composite +1.6%
- Hang Seng +0.6%
- S&P Futures +0.5% at 1,281
- Feb Gold +0.6% at $1,617/oz
- March Crude +0.5% at $101.78
***Overview/Top Headlines***
- Markets were buoyant today, with Alcoa kicking off the US earnings which helped to boost Australian miners. The Kospi rose supported by electronic and tech names. EUR/USD leveled off around $1.2780, coming off its 16-month low. China Securities Regulatory Commission (CSRC) said it would "actively" push pension and housing funds to invest in capital markets; To encourage long-term investors such as insurers and corporate pension plans to buy more shares.
- China's softer import data in the December trade balance (also a multi-month low) at 11.8% v 18.0%e v 22.1% prior supported the popular belief that the RRR would be cut before the Lunar New Year holiday. With Europe still a big question mark and the crisis reducing external demand, China will need to find ways to boost its trade, since its largest destination, Europe, is such an uncertainty. This fed the Shanghai Composite's rise to 2,284 since it is now even more likely that the PBoC will have to take action. December headline trade balance was nearly double analyst estimates at $16.5B v $8.8Be. Exports were in line at 13.4%. 2011 Trade Balance $155.1B v $183B y/y, this was in line with Chinese government official comments in the past.
- Australia November building approvals hit a 3-month high at 8.4% ahead of the 6%e, y/y also was better than expected -18.9%. AUD/USD extended its gains to session highs above $1.0270 it then went on to test $1.0320 on China's trade balance data. NZD/USD followed suit testing 2-month highs above $0.7940
- PBoC Gov Zhou quoted in the Chinese press said that more downside pressure on the economy will require China's policymakers to use a wider range of tools to maintain a prudent monetary policy this year. The government needs to prepare not only quantitative measures, pricing tools, but also other "innovative prudent tools," in a bid to meet the current challenges.
***Speakers/Geopolitical/In the press***
- (CN) HSBC's Qu expects 3 Reserve Ratio Requirement (RRR) rate cuts over 6-months
- (PH) Philippines Central Bank Gov Tetangco: Reiterates the central bank has room for policy easing
- (KR) According to Bank of Korea (BOK) review, benchmark rates will have to raise to 6% from current 3.25% in order to lower CPI to 3% - Korean press
- (CN) CSRC chairman Guo Shuqing: China may introduce sovereign bond as well as commodity futures - financial press
***Equities***
- TSM: Reports Dec Rev NT$30.6B v NT$35.2B m/m v NT$33.8B y/y
- JSTL.IN: Will buy Q4 coking coal at $230/ton v $290/ton in Q3; Do not expect steel prices to fall in the short term
- Nikon, 7731.JP: Resuming some of the suspended production in Thailand - financial press
- Kia Motors, 000270.KR: Exec: Expects US sales to grow in 2012 despite the absence of new model launches; Aims to surpass 500K vehicles in sales
- Longfor Properties, 960.HK: Reports Dec contracted sales CNY2.65B, -52.6% y/y; 2011 contracted sales CNY38.3B v CNY40B target, +14.8% y/y
- PBG.AU: Entered preliminary talks with KKR after unsolicited approach
***US Equities***
- LIZ: Affirms FY11 pro-forma adj EBITDA at the low end of $80-90M; Cuts 2012 adj EBITDA $125-140M from $130-150M prior; CFO resigns; -12.9% after hours
- JNPR: Lowers Q4 guidance to $0.26-0.28 v $0.34e, R$1.11-1.12B v $1.2Be (guided $0.32-0.36; R $1.16-1.22B prior); -2.1% after hours
- WDFC: Reports Q1 $0.42 v $0.54e, R $84.9M v $86Me; -8.1% after hours
- OCZ: Reports Q3 $0.06 v $0.06e, R$103.1M v $100Me; -3.6% after hours
- AA: Reports Q4 -$0.03 v -$0.03e, R $5.99B v $5.7Be; +0.8% after hours
***FX/Fixed Income/Commodities***
- EUR/JPY: (JP) BoJ supplied $12.6B in 3-month US dollar funding operation (highest amount since 2010)
- (AU) Newcastle Coal Exports -11.7% to 2.36M tons in week ended Jan 9th
- According to Goldman the rubber market is expected to have the largest glut since 2004 which will cut costs for tire makers - financial press
- (VE) Venezuela Oil Min: OPEC will not get involved with any dispute with Iran; OPEC has not planned an extraordinary meeting at this time
- (KR) South Korea Finance Ministry: Will increase food supply to meet demand and control inflation ahead of Lunar New Year
- (AU) AUSTRALIA NOV BUILDING APPROVALS M/M: 8.4% V 6.0%E (3-month high); Y/Y: -18.9% V -19.8%E
- (UK) UK DEC RICS HOUSE PRICE BALANCE: -16% V -19%E (17-month high)
- (UK) UK DEC BRC SALES LFL Y/Y: 2.2% V 0.4%E (8-month high)
- (NZ) NEW ZEALAND DEC QV HOUSE PRICES Y/Y: 2.4% V 1.7% PRIOR (15-month high)
- (NZ) NEW ZEALAND NOV BUILDING PERMITS M/M: -6.4% V +3.3%E
- (PH) PHILIPPINES NOV TOTAL EXPORTS: -19.4% V -10.0%E; TOTAL MONTHLY EXPORTS: $3.3B V $4.1B PRIOR
- (MA) MALAYSIA NOV INDUSTRIAL PRODUCTION Y/Y: 1.8% V 3.5%E; MANUFACTURING SALES VALUE Y/Y: 6.3% V 11.8% PRIOR
- (JP) Japan investors sell ¥155B in foreign bonds last week v ¥146B bought in prior week
***Markets Snapshot (as of 05:00GMT)***
- Nikkei225 +0.4%
- S&P/ASX +1.2%
- Kospi +1.7%
- Taiwan Taiex +1.2%
- Singapore Straits Times +0.8%
- Shanghai Composite +1.6%
- Hang Seng +0.6%
- S&P Futures +0.5% at 1,281
- Feb Gold +0.6% at $1,617/oz
- March Crude +0.5% at $101.78
***Overview/Top Headlines***
- Markets were buoyant today, with Alcoa kicking off the US earnings which helped to boost Australian miners. The Kospi rose supported by electronic and tech names. EUR/USD leveled off around $1.2780, coming off its 16-month low. China Securities Regulatory Commission (CSRC) said it would "actively" push pension and housing funds to invest in capital markets; To encourage long-term investors such as insurers and corporate pension plans to buy more shares.
- China's softer import data in the December trade balance (also a multi-month low) at 11.8% v 18.0%e v 22.1% prior supported the popular belief that the RRR would be cut before the Lunar New Year holiday. With Europe still a big question mark and the crisis reducing external demand, China will need to find ways to boost its trade, since its largest destination, Europe, is such an uncertainty. This fed the Shanghai Composite's rise to 2,284 since it is now even more likely that the PBoC will have to take action. December headline trade balance was nearly double analyst estimates at $16.5B v $8.8Be. Exports were in line at 13.4%. 2011 Trade Balance $155.1B v $183B y/y, this was in line with Chinese government official comments in the past.
- Australia November building approvals hit a 3-month high at 8.4% ahead of the 6%e, y/y also was better than expected -18.9%. AUD/USD extended its gains to session highs above $1.0270 it then went on to test $1.0320 on China's trade balance data. NZD/USD followed suit testing 2-month highs above $0.7940
- PBoC Gov Zhou quoted in the Chinese press said that more downside pressure on the economy will require China's policymakers to use a wider range of tools to maintain a prudent monetary policy this year. The government needs to prepare not only quantitative measures, pricing tools, but also other "innovative prudent tools," in a bid to meet the current challenges.
***Speakers/Geopolitical/In the press***
- (CN) HSBC's Qu expects 3 Reserve Ratio Requirement (RRR) rate cuts over 6-months
- (PH) Philippines Central Bank Gov Tetangco: Reiterates the central bank has room for policy easing
- (KR) According to Bank of Korea (BOK) review, benchmark rates will have to raise to 6% from current 3.25% in order to lower CPI to 3% - Korean press
- (CN) CSRC chairman Guo Shuqing: China may introduce sovereign bond as well as commodity futures - financial press
***Equities***
- TSM: Reports Dec Rev NT$30.6B v NT$35.2B m/m v NT$33.8B y/y
- JSTL.IN: Will buy Q4 coking coal at $230/ton v $290/ton in Q3; Do not expect steel prices to fall in the short term
- Nikon, 7731.JP: Resuming some of the suspended production in Thailand - financial press
- Kia Motors, 000270.KR: Exec: Expects US sales to grow in 2012 despite the absence of new model launches; Aims to surpass 500K vehicles in sales
- Longfor Properties, 960.HK: Reports Dec contracted sales CNY2.65B, -52.6% y/y; 2011 contracted sales CNY38.3B v CNY40B target, +14.8% y/y
- PBG.AU: Entered preliminary talks with KKR after unsolicited approach
***US Equities***
- LIZ: Affirms FY11 pro-forma adj EBITDA at the low end of $80-90M; Cuts 2012 adj EBITDA $125-140M from $130-150M prior; CFO resigns; -12.9% after hours
- JNPR: Lowers Q4 guidance to $0.26-0.28 v $0.34e, R$1.11-1.12B v $1.2Be (guided $0.32-0.36; R $1.16-1.22B prior); -2.1% after hours
- WDFC: Reports Q1 $0.42 v $0.54e, R $84.9M v $86Me; -8.1% after hours
- OCZ: Reports Q3 $0.06 v $0.06e, R$103.1M v $100Me; -3.6% after hours
- AA: Reports Q4 -$0.03 v -$0.03e, R $5.99B v $5.7Be; +0.8% after hours
***FX/Fixed Income/Commodities***
- EUR/JPY: (JP) BoJ supplied $12.6B in 3-month US dollar funding operation (highest amount since 2010)
- (AU) Newcastle Coal Exports -11.7% to 2.36M tons in week ended Jan 9th
- According to Goldman the rubber market is expected to have the largest glut since 2004 which will cut costs for tire makers - financial press
- (VE) Venezuela Oil Min: OPEC will not get involved with any dispute with Iran; OPEC has not planned an extraordinary meeting at this time
- (KR) South Korea Finance Ministry: Will increase food supply to meet demand and control inflation ahead of Lunar New Year
Tuesday
Asian Market Update: Quiet session ahead of Bund auction; China assures its banks are well positioned
Forex News Forex Directory Contact usAdvertise on fxtraders.eu FXtraders.eu FXtraders.eu Forex, Forex Market, Fx, Foreign Exchange,forex directory, fx directory, forex trading, forex brokers, Forex Trading, forex, forex charts, forex quotes, currency exchange, fx, currency, valuta, exchange rates, currency charts, brokers, fx links, dealers, forex news, currency news, interbank, fx portal, currency trading, euro cross rates, live fx tick charts, currency forums, dollar, swiss, sterling, yen, currency brokers Forex Tools Accounts BrokersForextrader Eductaion 
Welcome, today is Wednesday, 11 Jan 2012, 16:17 Times around the world » New York (USA) 10:17:57 -6h 
Tokio (Japan) 00:17:57 +8h Sydney (Australia) 01:17:57 +9h London (England) 15:17:57 -1h --> •Start with FXtraders.eu •Add FXtraders.eu to bookmarks •Tell a friend •Site map •RSS 
Go to section 
Forex NewsForex SignalsForex Links 
Szukaj Search Search in Forex News section:
Ad -->
Najnowsze
European Market Update: Germany moving closer to a technical recessionKBC: While Hungary’s delegation meets the IMF, the government is ready to change legislationDAILY FOREX AND DOW JONES RECOMMENDED LEVELSUS Market Update: Dow +98 S&P +13 NASDAQ +29European Market Update: Fitch noted that France seen holding onto AAA rating for this year aids risk appetite; Euro nations sovereign review likely to be resolved by end of JanuaryKBC: Hungary’s budget deficit probably below 3% of GDP in 2011DAILY FOREX AND DOW JONES RECOMMENDED LEVELS Najpopularniejsze World-Signals.com: Negative US fundamental data moved EUR/USD with 80 pips.Forex linksEnergy Market PreviewForex hedge fund managementKBC: Higher US PPI extends negative correction in the regionFXCM: Yen Recovers; Euro Marks TimeKBC: CE currencies weaken on global equity sell offNasdaq (qqqq), still working to perfection.... Navigator FXtraders.eu » Article Articles menu Print Print directly Print preview Add to bookmarks Tell a friend Adjust font Enlarge Decrease Article content 11.01.2012 08:40 Wednesday ***Economic Data***- (JP) JAPAN DEC OFFICIAL RESERVE ASSETS: $1.3T V $1.3T PRIOR
- (KR) SOUTH KOREA DEC UNEMPLOYMENT RATE: 3.1% V 3.2%E
- (JP) JAPAN NOV PRELIMINARY LEADING INDEX CI: 92.9 V 92.9E; COINCIDENT INDEX CI: 90.3 V 90.3E
- (MA) MALAYSIA NOV TRADE BALANCE (MYR): 9.5B V 11.9BE; Exports y/y: 8.0% v 12.9%e, Imports y/y: 8.4% v 9.4%e
- (JP) JAPAN NOV CONFERENCE BOARD LEADING ECONOMIC INDEX: -0.2% V +1.2% PRIOR
- (UK) UK DEC BRC SHOP PRICE INDEX Y/Y: 1.7% V 2.0% PRIOR (16-month low)
- (LK) SRI LANKA CENTRAL BANK LEAVES REPURCHASE RATE UNCHANGED AT 7.00%, AS EXPECTED
- (AU) Australia Nov-end Job Vacancies: -3.3% v 3.2% prior
- (NZ) New Zealand Q4 Westpac Employment Confidence Index: 99.6 v 104.2 prior
- (CN) China State Administration of Foreign Exchange (SAFE): Lowers Q3 Current Account surplus to $53.4B vs $57.8B prior
***Markets Snapshot (as of 05:00GMT)***
- Nikkei225 +0.2%
- S&P/ASX +0.8%
- Kospi -0.4%
- Taiwan Taiex +0.3%
- Singapore Straits Times +0.3%
- Shanghai Composite -0.5%
- Hang Seng +0.1%
- S&P Futures -0.2% at 1,283
- Feb Gold +0.4% at $1,637/oz
- March Crude -0.4% at $101.84
***Overview/Top Headlines***
- Markets were mixed, with no major driver for the session. Republican Presidential candidate Mitt Romney won the New Hampshire primary, as expected. Australia job vacancies declined 3.3% after rising nearly the same in the last month. South Korea saw its December unemployment rate hold steady. Commenting ahead of his first meeting in China, US Treasury Sec Geithner said that the main focus of the talks would be on growth, including growing US exports to China. China Vice Premier ahead of the talks indicated that China was willing to increase its trade with the US.
- EUR/USD traded with a bearish tone for the session ahead of the 5-year Bund auction later today and France's meeting with the IMF's Lagarde. USD/JPY was in a tight range for the session trading to the upside. AUD was weaker as many of the major miners were forced to close operations in Western Australia due to cyclone Heidi.
- PBoC Head of Research expects that the global financial crisis will last for another 2-3 years, saying that China banks may face challenges if rate policy is liberalized. PBoC's Zhang affirmed that Chinese banks are in good shape with low non-performing loan ratios; 2012 CPI may remain at 4%, may not decline quickly. PBoC Advisor Li commented to the press that any help for Europe should be linked to IMF quota reform. EU debt crisis will have a short term impact on China's economic because of steps taken to reduce reliance on external demand.
***Speakers/Geopolitical/In the press***
- (AU) Australia Foreign Min Rudd: If Australia does not invest in Indonesia it runs the risk of missing a Brazil scale economic opportunity - The Australian
- (CN) China Academy of Social Sciences (CASS) researcher Fan Mingtai: Local debt problem will not be solved in the next 2-3 years; Looser policy needed to ease pressure on local govts - China Daily
- (HK) Hong Kong banks increasingly concerned over borrowers' ability to make mortgage payments - SCMP
- (CN) China top 4 banks total yuan loans in the first week of Jan exceeded CNY50B v CNY130B estimated for entire Dec
- (CN) According to Goldman Sachs, PBoC may start to cut key 1-year rates starting in H2 of 2012 - financial press
***Equities***
- Kirin Holdings, 2503.JP: Reports 2011 beer sales 160.3M v 165.9M target, -5.7% y/y; Guides 2012 beer sales at 163.5M cases
- CHT: Reports Dec Net NT$2.2B, Rev NT$16.4B
- Hon Hai Precision, 2317.TW: Reports Dec Rev NT$316.9B, +3.2% m/m and 29.5% y/y
- BXB.AU: Received offer of A$2.2B for paper unit, Recall - financial press
- Shimao Property, 813.HK: Expects Beijing to lift some of the property purchase restrictions imposed in 2011 in mid-2012 - SCMP
***US Equities***
- SMCI: Cuts Q2 guidance $0.24-0.25 v $0.29e; Rev $249-250M v $272Me (previously guided EPS $0.27-0.32; Rev $260-280M on Oct 25th); -5.9% after hours
- DLA: Lowers FY12 guidance due to record high cotton prices; Guides Q2 -$1.62 to -$1.58 v $0.02e; Guides FY12 $0.50-0.60 v $2.05e, R$480-500M v $515Me (guided $2.00-2.15, R$500-520M prior); -22.4% after hours
- SYK: Reports prelim Q4 R$2.2B v $2.23Be; FY11 $3.72-3.74 v $3.73e; R$8.3B v $8.3Be; Guides initial FY12 EPS growing double digits over 2011 (implies at least $4.09 v $4.11e); +1% after hours
- CWTR: Guides Q4 -$0.24 to -$0.18 v -$0.17e (-$0.21 to -$0.13 prior guidance); -5.8% after hours
- CROX: Guides FY11 Rev to exceed $1B v $1.0Be; guides Q4 Rev to high end of prior $200-205M v $204Me; +5.6% after hours
***FX/Fixed Income/Commodities***
- (US) API PETROLEUM INVENTORIES CRUDE: +400K V +1ME; GASOLINE: +1.89M V +2ME; DISTILLATE: +850K V +2ME; UTILIZATION: 84.8% V 83.7% W/W
- (CN) China MoF sells 1-yr bills at 2.78% v 3.90% on Sept 13th
- PKX: According to Korea Iron and Steel Association (KOSA), exports of steel from South Korea in 2011 reached a record high at 28.5M tons, +9.3% y/y - Korean press
www.tradethenews.com
kk
Top Email Us 
Notowania
Forex Live 24h 
Forex futures CME --> Metals Interest rates Forex Charts European Central Bank quotes Ads Sonda Wiadomosci GPW Analizy sp�ek Hedge Private Equity Fundusze Inwestycyjne --> Reklama Reklama
Forex » Forex News » Forex Signals » Forex Links » Tools » Forex Quotes » Forex Charts » Forex Calculator » Forex accounts » Demo accounts » Forex Brokers » US brokers » European brokers » Other brokers » Education » Articles » Links » Forex Trading Rules » History »
© Forex Traders - FXtraders.eu 2006 - all rights reserved, copying without permission forbiddenForex Directory Disclaimer Contact us Privacy policy Advertise on fxtraders.eu
Please note that Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone. The foreign exchange (currency or forex or FX) is by far the largest market in the world, in terms of cash value traded.
-->
Subscribe to:
Posts (Atom)