General Trend:
- Facebook rises in the afterhours post earnings
- Samsung reports final Q3 results, expects Q4 earnings to decline amid seasonality
- Sony rises over 3%, raised FY forecast
- Honda gains over 5%, raised outlook
- Australia’s ANZ rises after FY results
- Standard Chartered Q3 profits above ests, ROE rises
- South Korea and Japan industrial production data decline in Sept
- Aussie drops as core CPI misses ests
- BoJ cuts CPI forecasts
- BoJ may release new monthly bond purchase schedule later today
- Japanese companies expected to report earnings include Renesas, Panasonic, JVC, Docomo, Yamato Holdings, Yahoo Japan, Yamaha Motor, Mazda, Start Today, Takeda, Japan Tobacco and Japan Airlines
- Indian Rupee declines amid reports of possible rift between RBI Gov and government
Headlines/Economic Data
Japan
- Nikkei 225 opened +0.5%
- (JP) BOJ LEAVES INTEREST RATE ON EXCESS RESERVES (IOER) UNCHANGED AT -0.10%; AS EXPECTED; Vote 7:2 on yield curve control (YCC) setting (Harada and Kataoka again dissent)
- (JP) BOJ updates its Quarterly Outlook for Economic Activity and Prices cuts current year GDP, affirms others, Cuts core CPI view for FY18-FY20
- (JP) Japan is not expected to raise the financial income tax in the FY2019 reform – Japanese press
- (JP) JAPAN SEPT PRELIM INDUSTRIAL PRODUCTION M/M: -1.1% V -0.3%E; Y/Y: -2.9% V -2.1%E
- (JP) Japan PM Abe: ETF buying is not done with stock price level in mind, closely watching next steps by US against China on trade
- (JP) JAPAN SEPT ANNUALIZED HOUSING STARTS: 943K V 950KE; Y/Y: -1.5% V -0.8%E
- Honda, 7267.JP Reports Q2 Net ¥455.1B v ¥381.3B y/y, Op ¥513.9B v ¥422.2B y/y, Rev ¥7.87T v ¥7.49T y/y (after the close)
- Sony, 6758.JP Reports H1 Net ¥399.5B v ¥211.7B y/y, Op ¥434.5B v ¥361.8B y/y, Rev ¥4.14T v ¥3.92T y/y; Raises outlook (after the close)
Korea
- Kospi opened +0.4%
- (KR) SOUTH KOREA SEPT INDUSTRIAL PRODUCTION M/M: -2.5% V -0.5%E; Y/Y: -8.4% V -5.1%E
- (KR) South Korea to hold annual consultation meeting with Fitch this week on credit valuation – Korean press
China/Hong Kong
- Hang Seng opened +0.7%, Shanghai Composite +0.2%
- (CN) CHINA OCT OFFICIAL MANUFACTURING PMI: 50.2 V 50.6E; NON-MANUFACTURING PMI: 53.9 V 54.6E
- (CN) China PBoC Open Market Operation (OMO): skips v skips prior in 7-day reverse repos prior: Net: CNY150B drain v CNY120B injection prior
- (CN) China PBOC to sell yuan bills in Hong Kong Nov 7th: Offering CNY10B in 3-month and CNY10B in 1-yr bills; Auction aimed at improving yuan yield curve
- (CN) China PBOC sets Yuan midpoint rate at 6.9646 v 6.9574 prior (weakest level since May 20th, 2008)
- (CN) China Commerce Ministry:Opposed to US implementing unilateral sanctions against a Chinese firm, should immediately stop its wrong practice – Xinhua
- (CN) Follow Up: Hong Kong said to consider extending tax exemption to cover the bills that the China PBoC is planning to sell in HK
Australia/New Zealand
- ASX 200 opened +0.1%
- ANZ.AU Reports FY18 (A$) Cash net profit 6.48B v 6.81B y/y; Will not go ahead with IPO or sale UDC Finance
- (AU) AUSTRALIA Q3 CPI Q/Q: 0.4% V 0.5%E; Y/Y: 1.9% V 1.9%E; CPI Trimmed Mean Q/Q: 0.4% v 0.4%e; Y/Y: 1.8% v 1.9%e
- (NZ) New Zealand Sept Building Permits M/M: -1.5% v +7.8% prior
- CBA.AU Confirms to sell Colonial First State to Mitsubishi UFJ Trust and Banking Corporation for A$4.13B; to have post tax gain of A$1.5B
- ORG.AU Reports Q1 production 64.3 pje v 89.1 y/y; Sales 63.7 pje v 62.8 q/q; Rev A$640.5M v A$678.6M y/y
- (AU) Australia ratifies the TPP Pacific trade agreement (as expected)
- FCG.NZ Global Dairy Update: Reports Sept Total New Zealand milk production +6% y/y
Other Asia
- (IN) Said to be an irreversible breakdown between RBI Gov and Govt, RBI Gov may resign – local media
North America
- US equity markets ended higher: Dow +1.8%, S&P500 +1.6%, Nasdaq +1.6%, Russell 2000 +2%
- (US) Former Fed Chair Yellen: at least a couple more rate hikes are necessary as the Fed tries to take its foot off the accelerator
Europe
- (UK) Oct GfK Consumer Confidence: -10 v -10e
- (UK) Oct BRC Shop Price Index y/y: -0.2% v +0.2% prior
- (UK) Oct Lloyds Business Barometer: 19 v 29 prior
- (UK) S&P analysis: risk of no-deal Brexit has increased enough to become a relevant sovereign rating consideration (overnight)
- (IT) Italy Treasury: EU Commission has requested clarification on debt reduction plans; will respond by Nov 13th (overnight)
- STAN.UK Reports Q3 adj pretax $1.07B v $976Me, Op income $3.72B v $3.59B y/y
Levels as of 01:30ET
- Hang Seng +1.0%; Shanghai Composite +1.1%; Kospi +0.4%; Nikkei225 +2.0%; ASX 200 +0.4%
- Equity Futures: S&P500 +0.3%; Nasdaq100 +0.5%, Dax +0.9%; FTSE100 +0.8%
- EUR 1.1336-1.1416; JPY 113.03-113.33 ; AUD 0.7073-0.7107;NZD 0.6542-0.6571
- Dec Gold -0.5% at $1,218/oz; Dec Crude Oil +0.4% at $66.44/brl; Dec Copper -2.6% at $2.67/lb
