General Trend:
- Amazon declines following earnings/guidance, weighs on Nasdaq Futures
- Nikkei 225 rose to Dec highs, later pared gain on China PMI data
- Nintendo, Nomura and Mizuho all decline post earnings
- South Korea Jan Semiconductor exports down over 23% y/y
- Australia CoreLogic House price index sees 16th straight m/m decline in Jan
- Aussie declines on weaker than expected China PMI data
- Various Reserve Bank of Australia (RBA) events seen next week (including policy decision, comments from Gov Lowe, SOMP)
- Yuan weakens ahead of upcoming holiday, trims recent gains
- Chinese markets to be closed from Feb 4-8th for Lunar New Year holiday
Headlines/Economic Data
Australia/New Zealand
- ASX 200 opened +0.1%
- (AU) Australia Jan CoreLogic House Price M/M: -1.2% v -1.3% prior (16th straight decline); Y/Y: -5.6% v -4.8% prior
- *(AU) AUSTRALIA Q4 PPI Q/Q: 0.5% V 0.8% PRIOR; Y/Y: 2.0% V 2.1% PRIOR
- (AU) Australia Jan Final CBA PMI Manufacturing: 53.9 v 54.3 prior
- (AU) Australia Jan AIG Performance of Manufacturing Index: 52.5 v 50 prior
- (AU) Australia sells A$400M v $400M in 3.75% April 21 2037 bonds, avg yield: 2.5517%, bid to cover: 2.6x
China/Hong Kong
- Shanghai Composite opened +0.5%, Hang Seng +0.9%
- *(CN) CHINA JAN CAIXIN PMI MANUFACTURING: 48.3 V 49.6E (weakest reading in ~3-years, 2nd straight contraction)
- (CN) China: US trade talks make important progress; China to expand imports of US services – Xinhua
- (CN) Pres Trump: Lighthizer and US delegation will travel to China soon; Have NOT extended March 1 deadline for China trade talks; March 1 is a hard deadline
- (CN) White House: China trade talks have included the role of currencies
- (CN) China PBoC sets Yuan Reference Rate: 6.7081 v 6.7025 prior
- (CN) China PBoC Open Market Operation (OMO): Injects CNY80B in 14-day reverse repos v CNY50B injected in 14-day reverse repos prior: Net: CNY80B injected v CNY50B injected prior
- (CN) China Financial News denies report related to PBOC guidance over banks fast lending growth
- (HK) Macau Jan Casino Rev (MOP) 24.9B -5% y/y v -9%e (first decline since July 2016)
Japan
- Nikkei 225 opened +0.1%
- (JP) Japan Dec Jobless Rate: 2.4% v 2.5%e
- (JP) Japan Jan Final Manufacturing PMI: 50.3 v 50.0 prior (29-month low)
- (JP) Bank of Japan (BOJ) announces Bond purchases for month of Feb (Note amounts and frequency unchanged m/m)
Korea
- Kospi opened +0.3%
- (KR) South Korea Jan Trade Balance: $1.3B v $3.1Be
- (KR) South Korea comments on Jan trade balance: Exports declined on chip and oil product shipment declines; expects exports to improve in H2 on chip and oil recovery
- (KR) SOUTH KOREA JAN CPI M/M: -0.1% V 0.4%E; Y/Y: 0.8% V 1.3%E (lowest since Jan 2018)
- (KR) South Korea Jan Manufacturing PMI: 48.3 v 49.8 prior (matches lowest level since Nov 2016)
Other
- (ID) Indonesia Jan CPI M/M: 0.3% v 0.5%e; Y/Y: 2.8% v 3.0%e
- (ID) Indonesia Jan PMI Manufacturing: 49.9 v 51.2 prior (first contraction or reading below 50 in 1 year)
- (TW) Taiwan Jan Manufacturing PMI: 47.5 v 47.7 prior (lowest since Sept 2015)
- (TW) Taiwan sells NT$10B in 10-year bonds: yield 0.848% v 0.947% prior: bid to cover 3.51x
Levels as of 01:00ET
- Nikkei 225, flat, ASX 200 flat, Hang Seng -0.4%; Shanghai Composite +0.8%; Kospi flat
- Equity Futures: S&P500 flat; Nasdaq100 -0.4%, Dax -0.5%; FTSE100 -0.3%
- EUR 1.1451-1.1437 ; JPY 108.96 ; AUD 0.7279-0.7237 ;NZD 0.6924-0.6898
- Gold -0.1% at $1,323/oz; Crude Oil -0.2% at $53.71/brl; Copper -0.7% at $2.767/lb
