Another mixed equity session in Asia after directionless close on Wall Street
|General trend
- Asian markets have remained mixed.
- Nikkei is still lower after the negative open [Topix Air Transportation, Banks, Pharma and Securities indices are among the decliners; Automakers also trade generally lower amid continued reports related to chip shortages; Marine Transportation index outperforms; Fast Retailing and Seven & I are due to report earnings].
- Australian equities again outperform [Financials outperform amid rise in 10-yr UST yield; Resources index also gains (Western Areas rose after production update)].
- Hang Seng rises after the lower open [TECH index rebounded (Tencent pared drop amid stake sale)].
- Shanghai Composite rebounded from opening loss [Consumer Staples index reversed decline; Telecom and Property indices underperformed].
- Companies expected to report during the NY morning include ConAgra Brands, Constellation Brands.
Headlines/Economic Data
Australia/New Zealand
- ASX 200 opened +0.2%.
- WBC.AU ASIC commences civil proceedings in relation to the sale of consumer credit insurance.
- (AU) Australia Trade Min Tehan: Will protect interests against any country (talking about China warning of joining sanctions on officials).
Japan
- Nikkei 225 opened -0.2%.
- (JP) Japan Chief Cabinet Sec Kato: Untrue that Japan is considering vaccinating Olympic Athletes.
- 5486.JP Hitachi Ltd. reportedly in talks with Bain about potential sale of its metals division - Nikkei.
- (JP) Japan Feb Current Account: ¥2.92T v ¥2.00Te; Adj Current Account: ¥1.79T v ¥1.02Te; Trade Balance (BoP): ¥524.2B v -¥130.1B prior.
- (JP) Japan MoF sells ¥2.5T v ¥2.5T indicated in 0.10% 5-year JGBs; avg yield -0.0910% v -0.062% prior, bid to cover 4.55x v 3.25x prior (highest btc since Oct 2020).
- 096530.KR Planning 1 for 1 issue of bonus shares.
Korea
- Kospi opened 0.0%.
- (KR) South Korea Fin Min: Anti-speculation measures will increase – Yonhap.
- (KR) South Korea ruling Democratic party was defeated in special mayoral elections in Seoul and Busan - financial press.
China/Hong Kong
- Hang Seng opened -0.3%; Shanghai Composite opened -0.4%.
- (CN) China PBOC warns that a boom in household debt could hinder the economy - Chinese press.
- (HK) Hong Kong Mar PMI (Whole Economy): 50.5 v 50.2 prior (3-year high).
- (CN) China PBOC sets Yuan reference rate: 6.5463 v 6.5384 prior.
- (CN) China PBOC Open Market Operation (OMO): Injects CNY10B in 7-day reverse repos v CNY10B in 7-day reverse repos prior; Net CNY0B v CNY0B prior.
- (CN) China Mar Vehicle Sales 2.38M units, +66.8% y/y - CAAM.
- (CN) CHINA MAR FOREIGN RESERVES: $3.170T V $3.178TE (3rd straight monthly decline and lowest since Oct).
North America
- JNJ Mass vaccination site in Denver, Colorado using JNJ Coronavirus vaccines was shut down temporarily due to 18 recipients having unspecified adverse side affects – Press.
- (US) US govt completes intelligence review of alleged Russian misconduct in SolarWinds hack and election interference; may announce retaliatory actions against Russia in the near future – press.
- AMZN Union Vote in Alabama has ~55% voter turnout, final count expected later April 8th or early the 9th - Press.
Europe
- (DK) Greenland Elections Results: Opposition Socials Party IA posed to win election (opposes mining project lead by GGG.AU).
- (DE) Germany vaccine authority, STIKO, and national health authority, RKI, looking at whether to further stretch the amount of time before second doses of Covid vaccines from Pfizer/BioNTech and Moderna - German press.
- (UK) Britain reportedly expected to pass COVID herd immunity threshold on Monday - UK's Telegraph.
- (UK) Mar RICS House Price Balance: 59 v 55e.
Levels as of 01:15ET
- Hang Seng +1.0%; Shanghai Composite +0.1%; Kospi -0.0%; Nikkei225 -0.3%; ASX 200 +0.9%.
- Equity Futures: S&P500 +0.5%; Nasdaq100 +0.7%, Dax +0.1%; FTSE100 +0.3%.
- EUR 1.1875-1.1861; JPY 109.91-109.66; AUD 0.7634-0.7603; NZD 0.7029-0.7004.
- Commodity Futures: Gold -0.1% at $1,740/oz; Crude Oil -0.6% at $59.43/brl; Copper +0.4% at $4.08/lb.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.