Asian Indices Trade Mixed Amid Focus On Earnings

Oct 25 19, 06:26 GMT

General Trend:

Nikkei weighed down by declines in financials amid focus on next week’s BoJ decision [Oct 30-31st]
Softbank’s shares have remained weaker after the recently disclosed funding package for Wework, there is also write-down speculation related to Softbank’s Vision Fund
Financials decline in early trading in Shanghai
Hang Seng drops after earnings from Budweiser APAC and Ping An Insurance
South Korean steelmaker Posco declines over 4% post earnings, LG Chemical rises on better than expected quarterly profits
Aussie equities outperform on gains in consumer stocks

Headlines/Economic Data

Australia/New Zealand

China/Hong Kong

Shanghai Composite opened flat, Hang Seng flat
(CN) China said to ask US to remove tariffs for AG purchases – press
(CN) China PBoC Open Market Operation (OMO): Injects CNY30B v injects CNY60B prior in 7-day; Net injects CNY0B (nil) v injects CNY60B prior
(CN) China PBOC sets Yuan Reference Rate: 7.0749 v 7.0727 prior
(CN) PBoC Q3 Survey: entrepreneur confidence index falls q/q
(US) Pres Trump Aide Grisham: Meetings are happening on China trade talks
(US) US VP Pence: if China ends unfair trade, US is ready for a new future; US is not seeking to contain China’s development
Bank of Communications [3328.HK]: Says China National Social Security Fund did not cut stake as planned [no reason was initially disclosed]

Japan

Nikkei 223 opened flat
(JP) Japan METI Min Sugawara resigns amid allegations of gift scandal
(JP) More speculation that BOJ would refrain from extra stimulus at the Oct policy meeting

Korea

Kospi opened +0.3%
(KR) South Korea to give up developing nation status with WTO – Korea Press
(KR) South Korea Oct Consumer Confidence: 98.6 v 96.9 prior; Oct consumer inflation expectation hit the lowest level since the data release started in 2002.

Other

(ID) Indonesia Fin Min Official Alfirman: To implement counter-cyclical policy; policy will fuel deficit; sees 2019 deficit at 2-2.2% of GDP (prior 1.93%); will remain prudent in management of deficit
(TW) Taiwan Central Bank Gov Yang: – Will no longer provide annual M2 money supply target but will give mid-term target for 2-3 years

Europe

(UK) UK GOVT TO TABLE MOTION FOR GENERAL ELECTION ON DEC 12TH – SKY NEWS
(UK ) Reportedly EU27 envoys are not expected to make a final decision on the length of Brexit delay at Friday’s meeting – press

Levels as of 1:20 ET

Nikkei 225, flat, ASX 200 +0.7%, Hang Seng -0.5%; Shanghai Composite -0.1%; Kospi -0.2%
Equity Futures: S&P500 flat; Nasdaq100 +0.1%, Dax +0.2%; FTSE100 +0.9%
EUR 1.1109-1.1100 ; JPY 108.70-108.57 ; AUD 0.6821-0.6808 ;NZD 0.6388-0.6365
Gold flat at $1,505/oz; Crude Oil -0.5% at $55.95/brl; Copper -0.2% at $2.662/lb