General Trend:

  • Asian equities trade generally higher
  • Energy shares outperform, track gains in oil prices
  • Toyota rises over 1.5% after earnings report and guidance
  • Softbank declines over 2% post earnings
  • China CPI eases again, while PPI accelerates
  • RBNZ reiterates policy to remain expansionary for considerable period of time; Kiwi declines to 5-month low
  • BoJ Gov Kuroda seeks to clarify stance on timing of reaching inflation target
  • Malaysia opposition party wins election, new PM to get sworn in tomorrow, regional leaders paying close attention
  • Malaysia Ringgit currency forwards decline after surprise election results
  • Philippines Central Bank is expected to later today raise rates for the first time since 2014
  • Israel confirmed Iranian forces in Syria fired rockets in Golan

Headlines/Economic Data


- advertisement -
  • Nikkei 225 opened +0.3%; closed +0.4%
  • (JP) Japan Investors Net Buying of Foreign Bonds: -¥363.7B v +¥533.6B prior week; Foreign Net Buying of Japan Stocks: -¥0.3B v +¥283.5B prior week
  • (JP) Japan Apr Bank Lending Ex-Trusts y/y: 2.1% v 1.9%e; Including-Trusts y/y: 2.0% v 1.9%e
  • (JP) Japan Mar Current Account Balance: ¥3.12T v ¥2.89Te; adj Current Account: ¥1.77T v ¥1.63Te
  • (JP) Bank of Japan (BoJ) Summary of Opinions for April 26-27 policy meeting: Worried that dropping phrase on timing for hitting price goal could weaken commitment to hitting price goal; If BoJ hikes rates that will hurt corporate profits via Yen rise, hurt financial institutions by increasing credit costs.
  • FujiFilm, 4901.JP Says has not received new proposal from Xerox: If we receive new proposal will need to study whether it offers value to shareholders
  • (JP) Bank of Japan (BOJ) Gov Kuroda: Reiterates to continue powerful monetary easing; do not set any deadline for hitting price target
  • (JP) Japan MoF sells ¥399.6B v ¥400B indicated in 10-yr 0.1% inflation-indexed bonds; avg yield -0.513%; bid to cover 4.02x v 3.38x prior


  • Kospi opened +0.6%
  • (KR) South Korea March Tax Rev KRW28.9T v KRW23.6T m/m
  • (US) Trump administration officials reportedly preparing to hold Pres Trump-Leader Kim Jong Un summit in Singapore – CNN
  • (KR) North Korea govt: had satisfactory consensus on issues discussed with US Sec State Pompeo
  • 005930.KR South Korea Antitrust Chief: Current ownership structure of Samsung Group is not sustainable

China/Hong Kong

  • Hang Seng opened +0.6%, Shanghai Composite +0.3%
  • (CN) China Ministry urges local cities to maintain property curbs – Xinhua
  • (CN) China, Japan and South Korea agree to oppose protectionism – Xinhua
  • (CN) CHINA APR CPI M/M: -0.2% V -0.1%E; Y/Y: 1.8% V 1.9%E; PPI Y/Y: 3.4% V 3.4%E (first acceleration in 7-months)
  • (CN) China is expected to offer to import more US goods during talks due to be held in Washington next week – US financial press
  • (CN) China PBoC sets yuan reference rate: 6.3768 v 6.3733 prior
  • (CN) China PBoC Open Market Operation (OMO): Injects combined CNY30B in 7-day and 14-day reverse repos v CNY100B prior; Net drain CNY20B v CNY100B prior
  • (CN) China credit spreads hit their widest level in nearly 2-yrs this week following new regulations that undermined long-held assumptions about implicit guarantees on debt linked to local govts – FT
  • (CN) China Commerce Ministry (MOFCOM): Confirms US and China trade teams keep communication; reiterates China trade to maintain good momentum in 2018
  • (CN) China PBoC Gov Yi Gang met with BoJ Gov Kuroda: Confirms the officials reached a consensus on currency swap in principle

Australia/New Zealand

  • ASX 200 opened +0.2%, closed %
  • (NZ) NEW ZEALAND CENTRAL BANK (RBNZ) LEAVES OFFICIAL CASH RATE UNCHANGED AT 1.75%; To keep OCR at this expansionary level of 1.75% for a considerable period of time
  • (NZ) RBNZ Gov Orr: Were in a good spot, risks are balanced; reiterates argument for a rate cut or rise in the future, but rates will stay unchanged for a considerable amount of time; Currency is broadly in line with terms of trade – post rate decision press conference
  • (NZ) New Zealand Fin Min Robertson: Planning NZ$42B of net capital investments over 5-yrs
  • (AU) Western Australia: To raise surcharge on foreign property purchases to 7%
  • (NZ) RBNZ Bascand: Core inflation a bit below where we’d like it

Other Asia

  • (MY) According to Malaysia Election Commission, opposition Mahathir alliance won 115 seats, above the 112 seat threshold needed to form a government – Local Press
  • (PH) Philippines Q1 GDP q/q: 1.5% v 1.4%e; y/y: 6.8% v 6.8%e
  • (PH) Philippines Economic Chief Pernia: GDP could reach target if it werent for CPI; lower end of 7-8% GDP growth range for 2018 is doable

North America

  • US equity markets ended mostly higher: Dow +0.1%, S&P500 +0.2%, Nasdaq +0.1%, Russell 2000 -0.1%
  • S&P500 Energy +2%, Financials +1.5%; Utilities -0.7%
  • COST Reports Apr SSS (ex-gas) 7.3%; US SSS (ex-gas) 7.9% v 6.6%e
  • EVHC KKR said to plan bid for Envision which may be worth over $11.0B – NY Post
  • (US) DOE CRUDE: -2.2M V 0E; GASOLINE: -2.2M V -0.5ME


  • (UK) Apr RICS House Price Balance: -8% v -1%e (lowest reading since Nov 2012)
  • (UK) Ministers reportedly have been warned that Brexit would hurt 145K UK companies and wipe 1.8% off long run UK GDP – Buzzfeed
  • (EU) ECB’s Lane (Ireland): too soon to tell whether demand slowdown is hitting European economy
  • (FR) France Pres Macron: imbalances in the euro zone are not sustainable; The German trade surplus can’t last – German TV interview
  • (IL) Iran force in Syria said to have fired rockets at Israeli targets in Golan – Israeli Media
  • (IQ) Iraq Oil Min Luaibi: OPEC to discuss possible output shortfall following US withdrawal from Iran nuclear agreement
  • RBS [RBS.UK]: US Attorney’s Office: Reached agreement in principle to settle potential civil claims related to MBS issued from 2005-2008; RBS to pay $4.9B civil penalty
  • EDF [EDF.FR]: Reports Q1 Rev €20.4B v €19.7B y/y; Affirms FY18 EBITDA €14.6-15.3B (prior €14.6-15.3B), Net debt/EBITDA <=2.7x (prior <=2.7x)
  • ENEL [ENEL.IT]: Reports Q1 net €1.17B v €0.98B y/y, adj EBITDA €3.91B v €3.95Be, Rev €19B v €19.4B y/y; Affirms FY18 Net €4.1B, EBITDA €16.2B (prior Net €4.1B, EBITDA €16.2B)

Levels as of 02:00ET

  • Hang Seng +0.7%; Shanghai Composite +0.1%; Kospi +0.6%
  • Equity Futures: S&P500 +0.2%; Nasdaq100 +0.3%, Dax +0.1%; FTSE100 -0.0%
  • EUR 1.1875-1.1843; JPY 109.92-109.63; AUD 0.7478-0.7454;NZD 0.6946-0.6910
  • Jun Gold +0.1% at $1,314/oz; Jun Crude Oil +0.7% at $71.61/brl; Jul Copper +0.2% at $3.07/lb
Previous articleFrench President Macron: Europe at a histroic moment to maintain multilateral order in Middle East
Next article10 May: BOE Takes The Stage
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.