General Trend

  • Australian equities trade broadly higher [underperformed during prior session], ASX 200 Resources index rises over 2%
  • Offshore yuan (CNH) rises amid China and HK holiday
  • Hong Kong markets to close Oct 1-2nd for holiday, Shanghai markets to close Oct 1-8th for holiday
  • Australia 3-yr bond yield rises toward 20bps, AUD/USD also rises; Aussie final Aug retail sales due on Friday (Oct 2nd); Australia budget and RBA decision both due on Oct 6th (Tuesday)
  • US weekly jobless claims, Aug Personal Spending and Sept ISM Manufacturing data due on Thursday; Sept payrolls report due on Friday

Headlines/Economic Data

Australia/New Zealand

- advertisement -
  • ASX 200 opened +0.3%
  • (AU) Australia Sept Final PMI Manufacturing: 55.4 v 55.5 prelim (Confirms 4th month of expansion)
  • (AU) Australia Aug Job Vacancies: +59.4% v -43.2% prior
  • (AU) Australia PM Morrison: No tax increases in budget
  • (AU) Australia Sept AiG Performance of Manufacturing Index: 46.7 v 49.3 prior
  • (AU) Australia Sept Corelogic House Price Index M/M: -0.2% v -0.5% prior
  • (NZ) New Zealand DMO sells NZ$600M v NZ$600M indicated in 2023, 2029 and 2033 bonds

China/Hong Kong

  • Hang Seng closed for holiday, Shanghai Composite closed for holiday
  • (HK) Macau Sept Casino Rev (MOP): 2.2B v 1.3B prior; Y/Y: -90.0% v -94.5% prior
  • (US) President Trump: Signs executive order to expand rare earths mining in the US citing threat from China
  • (CN) China PBoC said to set counter-cyclical buffer at 0.00% (zero)


  • (JP) Tokyo Stock Exchange (TSE): probing reports of network issues; JPX is halting trade of all shares due to network issues; Unsure when system will be restored; Suspension due to disruption in distribution of price information; Osaka Exchange ‘trading as usual’
  • (JP) Follow up as of 2:46 GMT: JPX: Nikkei trading is halted for full day due to network issue; To announce trading schedule tomorrow; Identifies system glitch as a hardware issue
  • Fujitsu [6702.JP]: Says investigating Tokyo Stock Exchange system issue; declines further comment
  • *(JP) JAPAN Q3 TANKAN LARGE MANUFACTURING INDEX: -27 V -24E; OUTLOOK SURVEY: -17 V -16E (First improvement in 11 quarters)
  • (JP) Japan Sept Final PMI Manufacturing: 47.7 v 47.3 prelim (Confirms 17 months of contraction)
  • (JP) Japan said to consider additional stimulus to deal with coronavirus, stimulus could be partially funded with 3rd extra budget – Nikkei
  • (JP) Japan PM Suga reportedly unlikely to call for snap election in 2020 – Japanese press
  • (JP) Japan MoF sells ¥2.6T v ¥2.6T indicated in 0.1% 10-year JGBs; avg yield 0.024% v 0.034% prior; bid to cover 4.06x v 3.15x prior


  • Kospi closed for holiday
  • (KR) South Korea Sept Trade Balance: $8.9B v $8.9Be; Exports Y/Y: 7.7% v +3.5%e (First expansion in 7 months)
  • (KR) South Korea confirms 77 additional coronavirus cases v 113 prior; 2 additional deaths

Other Asia

  • (ID) Indonesia Central Bank (BI) Revises rules on short term liquidity loans effective Sept 29th
  • (ID) Indonesia Sept PMI Manufacturing: 47.2 v 50.8 prior
  • (MY) Malaysia Sept Manufacturing PMI: 49.0 v 49.3 prior
  • (PH) Philippines Sept PMI Manufacturing: 50.1 v 47.3 prior (1st expansion in 7 months)
  • (VN) Vietnam Sept PMI Manufacturing: 52.2 v 45.7 prior (1st expansion in 3-months)
  • (VN) Reportedly Trump Administration plans to open investigation of Vietnamese currency practices – press

North America

  • (US) US Treasury Sec Mnuchin: Had a productive meeting with Pelosi, Made a lot of progress, but still no stimulus; Stimulus deal is in neighborhood of $1.5-2.2T; Have agreed on direct payments to Americans; Proposed $400/week in unemployment benefits; Offered Pelosi additional aid for state and local governments; Will probably speak with Pelosi again later tonight, Does not expect progress to be made until Thurs (Oct 1st)
  • (US) White House Chief of Staff Meadows: Reiterates Stimulus offer is >$1.5T; Stimulus offer includes $20B in stimulus for airline, extends aid for airlines for 6 months
  • (US) Fed extends restrictions on large banks’ dividends and buybacks into Q4 (for firms with over $100B in assets)
  • (US) Senate passes the stopgap spending bill to keep the govt operating through Dec 11 (as expected)


  • (FR) France govt official Beaune: Brexit agreement is possible by end of November – financial press
  • (IE) Ireland Sept PMI Manufacturing: 50.0 v 52.3 prior
  • (IT) Italy considering extending state of emergency to Jan 31st 2021 – Press

Levels as of 1:20 ET

  • Nikkei 225, halted, ASX 200 +1.4% , Hang Seng closed; Shanghai Composite closed ; Kospi closed
  • Equity S&P500 Futures: +0.4%; Nasdaq100 +0.4%, Dax +0.7%; FTSE100 +0.3%
  • EUR 1.1747-1.1717 ; JPY 105.55-105.40 ; AUD 0.7184-0.7154 ;NZD 0.6633-0.6609
  • Gold +0.1% at $1,898/oz; Crude Oil -0.2% at $40.16/brl; Copper +0.5% at $3.0383/lb
Previous articlePMIs Suggest China’s Recovery Remained Intact in September. Yield Differential to Support CNY
Next articleJob Losses In The US Show The Need For Fiscal Relief Package
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.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.