HK Trading Canceled On Storm Signal

Oct 13 20, 09:08 GMT

General Trend

Shanghai Composite declined ~0.3% during morning session after over 2.5% rise seen on Monday; Decliners included Property shares
Topix Air Transportation and Insurance indices rise in Japan, Pharma cos. lag
Financials rise in Australia, coal producers drop on the news related to China
AUD underperforms in Asia amid USD strength, China Customs officials said to have told certain state-owned power plants and steel firms to stop importing coal from Australia
China President Xi is expected to visit Shenzhen on Oct 14th (Wed)
Monetary Authority of Singapore (MAS) to issue semi-annual Monetary Policy statement on Oct 14th (Wednesday)
Companies expected to report earnings during the NY morning include BlackRock, Citi, Delta, JNJ, JPMorgan

Headlines/Economic Data

Australia/New Zealand

ASX 200 opened +0.2%
(AU) China Customs officials said to have told certain state-owned power plants and steel firms to stop importing coal from Australia; Australia government is seeking clarification from China – (update)

China/Hong Kong

Shanghai Composite opened -0.2%
(CN) China Sept Trade Balance: $37.0B V $60.0BE; Exports Y/Y: 9.9% v 10.0%e; Imports Y/Y: 13.2% v 0.4%e; Trade Balance with the US: $30.8B v $34.2B m/m; Sept Australia Imports -9.5% y/y
(CN) China PBOC sets Yuan reference rate: 6.7296 v 6.7126 prior
(HK) Hong Kong Exchange: Full trading day cancelled due to Typhoon signal 8 being in force [Comments after morning trading suspended]
(HK) Hong Kong Exchange officially cancels morning trading session due to storm signal 8
(CN) China is said to have eased its demands on banks to deliver lower profits
(CN) Follow Up: China MOF is holding investor calls from today related to previously announced plan to sell US dollar denominated bonds this week; the bond offering might be launched by as soon as Wed (Oct 14th)
(CN) China PBoC Open Market Operation (OMO): Skips reverse repos v Skips reverse repos prior; Net drain CNY100B v Net drain CNY60B prior
(CN) Chongqing Mayor Huang Qifan: US financial sanctions against China [would be] ‘suicidal’ for the US – SCMP

Japan

Nikkei 225 opened +0.5%
Softbank [9984.JP]: Says its Vision Fund will launch a SPAC in the next couple of weeks
TDK [6762.JP]: Said to be seeking US Approval to supply Huawei – Nikkei
(JP) Japan Sept M2 Money Supply Y/Y: 9.0% v 8.6% prior; M3 Money Supply Y/Y: 7.4% v 7.1% prior (record increase for M3)
(JP) Japan Fin Min Aso: To release a joint statement after G7 Meeting [later today]; BOJ Gov Kuroda to attend the G7 Meeting

Korea

Kospi opened +0.6%
Hynix [000660.HK]: Said to be expected to supply at least KRW3.0T (~$2.6B) worth of chips annually to Microsoft; the cos. might sign a MOU by the end of Oct – Press

Other Asia

Nanya Technology [2408.TW]: Reports Q3 (NT$) Net 1.6B v 2.2B y/y, Op 2.1B v 2.3B y/y, Rev 15.3B v 14.8B y/y; In the third quarter of 2020, average selling prices (ASP) and bit shipment decreased by low single digits percent respectively quarter over quarter, which strong NTD had a negative impact on revenue by 1.5 percent.

North America

Johnson & Johnson [JNJ]: Coronavirus vaccine study has been halted due to unexplained illness in one of its participants – Press
Tesla [TSLA]: Sold 11.3K China made Model 3 Vehicles in Sept v 11.8K m/m

Europe

Levels as of 1:20 ET

Nikkei 225, +0.2%, ASX 200 +1% , Hang Seng halted; Shanghai Composite -0.2% ; Kospi -0.1%
Equity S&P500 Futures: -0.2%; Nasdaq100 -0.1%, Dax -0.2%; FTSE100 +0.3%
EUR 1.1816-1.1790 ; JPY 105.45-105.28 ; AUD 0.7218-0.7164 ;NZD 0.6655-0.6628
Gold -0.7% at $1,915/oz; Crude Oil +0.1% at $39.48/brl; Copper -0.4% at $3.0505/lb