Wed, Jan 20, 2021 @ 22:17 GMT
Home Contributors Fundamental Analysis Asian Indices Trade Mixed

Asian Indices Trade Mixed

General Trend:

  • Japanese equities outperform, trading cos. rise on investment from Buffett; Other gainers in Japan include Air Transportation firms
  • Softbank Group rises over 4%, disclosed plan to sell shares in Softbank Corp
  • Energy, Tech and Gaming firms are among the gainers in Hong Kong; BYD Co rises over 3% post earnings, Geely also outperforms the broader market
  • Shanghai Composite rose by 0.8% during morning session, Telecom Services firms rose following earnings from ZTE; Consumer Staples also rise; Consumer Discretionary and property shares lagged
  • Consumer shares decline in Australia, gainers include Energy firms
  • RBA due to issue policy decision on Tuesday (Sept 1st)

Headlines/Economic Data

Australia/New Zealand

  • ASX 200 opened +0.1%
  • (AU) Victoria Premier Andrews reported to reveal roadmap to exit Lockdown on Sept 6th; another week of data needed to create roadmap
  • (AU) Victoria state (Australia) reports 73 additional coronavirus cases v 94 prior; 41 additional deaths (Highest total daily deaths)
  • (AU) AUSTRALIA Q2 CORP OP PROFIT Q/Q: +15.0% V -6.5%E; INVENTORIES Q/Q: -3.0% V -1.0%E; The seasonally adjusted estimate for company gross operating profits…has been impacted by Government subsidies
  • (AU) Australia July Private Sector Credit M/M: -0.1% v -0.1%e; Y/Y: 2.4% v 2.6%e
  • (AU) Follow Up: China Commerce Ministry confirms beginning probe into Australia Wine due to Australia Subsidies
  • (AU) Reserve Bank of Australia (RBA) offers to buy A$2.0B in 2023 and 2024 bonds v A$2.0B prior
  • (AU) Australia sells A$2.0B v A$2.0B indicated in 2.50% May 2030 bonds, avg yield 0.9794%, bid to cover 6.03x
  • (NZ) Reserve Bank of New Zealand (RBNZ) buys NZ$470M v NZ$320M prior in government bonds as part of QE v NZ$470M sought
  • (NZ) New Zealand Aug Final ANZ Business Confidence: -41.8 v -42.4 prelim; Activity Outlook: -17.5 v -17.0 prelim
  • (NZ) Reserve Bank of New Zealand (RBNZ) Gov Orr will give a speech on Sept 2nd (Wednesday) on monetary policy response to coronavirus

China/Hong Kong

  • Shanghai Composite opened +0.4%, Hang Seng opened +1.2%
  • (CN) CHINA AUG MANUFACTURING PMI (GOVT OFFICIAL): 51.0 V 51.2E (6 straight expansions); Non-Manufacturing PMI: 55.2 v 54.2e (6th straight month of expansion)
  • (CN) On Aug 28, China changed its list of technologies that bans or restricts exports; China issued new restrictions related to exports of artificial-intelligence (AI) technology
  • (CN) China PBOC sets Yuan reference rate: 6.8605 v 6.8891 prior (Strongest fix since July 2nd 2019)
  • (CN) China PBoC Open Market Operation (OMO): Injects CNY20B in 7-day reverse repos v Injects CNY50B in 7-day prior; Net drain CNY80B v Net drain CNY100B prior
  • (CN) China PBoC Official: Warns of rising risks in key areas, warns of risks related to small banks – China Press

Japan

  • Nikkei225 opened +1.2%
  • (JP) Japan Chief Cabinet Sec Suga reported to run in LDP elections to succeed current PM Abe; Kishida (LDP policy chief) to also run in the LDP leadership elections – Japan Press
  • (JP) Follow Up: Japan LDP Party reported to decide to hold leadership vote on Sept 14th – Japan Press [conflicting report]
  • (JP) Japan LDP Official Nikai: There is no party vote for a new leader – Press
  • Japan’s next PM is expected to be elected in a special parliamentary session due to be held by as early as Sept 17th (Nikkei)
  • (JP) JAPAN JULY PRELIMINARY INDUSTRIAL PRODUCTION M/M: 8.0% V 5.0%E (Highest M/M growth since 1978); Y/Y: -16.1% V -17.5%E; Japan government: Raises assessment of industrial production, notes production is picking up.
  • (JP) Bank of Japan (BOJ) announces Bond purchases for month of Sept: To maintain current pace of purchases in all maturities (from Aug 28th)
  • (JP) JAPAN JULY RETAIL SALES M/M: -3.3% V -2.5%E; Y/Y: -2.8% V -1.7%E
  • (JP) JAPAN JULY ANNUALIZED HOUSING STARTS: 828K V 798KE; Y/Y: -11.4% V -12.5%E
  • (JP) JAPAN AUG CONSUMER CONFIDENCE: 29.3 V 28.5E

Korea

  • Kospi opened +1%
  • (KR) South Korea reported to be preparing additional steps to help economy – Local Press
  • (KR) South Korea confirms 248 additional coronavirus cases v 299 prior; 1 additional death; South Korea notes fewer tests were conducted over the weekend
  • (KR) SOUTH KOREA JULY INDUSTRIAL PRODUCTION M/M: 1.6% V 2.5%E; Y/Y: -2.5% V -2.0%E

Europe

  • Suez [SEV.FR]: Veolia to Acquire 29.9% of Suez from Engie at €15.50/shr cash

Levels as of 1:20 ET

  • Nikkei 225, +1.3%, ASX 200 -0.1% , Hang Seng +0.9%; Shanghai Composite +0.6% ; Kospi -0.9%
  • Equity S&P500 Futures: +0.4%; Nasdaq100 +0.6%, Dax +0.4%
  • EUR 1.1929-1.1896 ; JPY 105.80-105.29 ; AUD 0.7381-0.7346 ;NZD 0.6751-0.6726
  • Gold +0.2% at $1,978/oz; Crude Oil +0.4% at $43.13/brl; Copper +0.6% at $3.0265/lb

 

Trade The Newshttp://www.tradethenews.com/
All information provided by Trade The News (a product of Trade The News, Inc. "referred to as TTN hereafter") is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Although information is taken from sources deemed reliable, no guarantees or assurances can be made to the accuracy of any information provided. 1. Information can be inaccurate and/or incomplete 2. Information can be mistakenly re-released or be delayed, 3. Information may be incorrect, misread, misinterpreted or misunderstood 4. Human error is a business risk you are willing to assume 5. Technology can crash or be interrupted without notice 6. Trading decisions are the responsibility of traders, not those providing additional information. Trade The News is not liable (financial and/or non-financial) for any losses that may arise from any information provided by TTN. Trading securities involves a high degree of risk, and financial losses can and do occur on a regular basis and are part of the risk of trading and investing.

Featured Analysis

Learn Forex Trading