Asian equity markets continue to trade mixed, little reaction seen from the RBA’s SOMP
|General trend
- Chinese markets decline amid geopolitical concerns [Biden administration reportedly poised to extend restrictions to a new area of the US-China relationship – NYT].
- Japanese cos. expected to report earnings include Honda, Olympus, Shiseido, Mazda, ASICS, Japan Display.
- Taiwan Semi might issue monthly sales this week.
- China might also release monthly lending data.
Headlines/economic data
Australia/New Zealand
-ASX 200 opens -0.2% at 7,474.
- (AU) RBA-Statement on Monetary Policy (SOMP): Forecasts based on technical assumption cash rate will peak at 3.75%, ease to 3.00% by Jun 2025; issues Jun 2025 economic forecasts.
- (NZ) New Zealand Jan Manufacturing PMI: 50.8 v 47.8 prior (first expansionary reading in 4 months).
China/Hong Kong
-Hang Seng opens -0.3% at 21,559.
-Shanghai Composite opens -0.1% at 3,266.
- (US) US President Biden: China balloon is not a major breach, but violation of international law.
- (US) Biden administration reportedly poised to extend restrictions to a new area of the US-China relationship - NYT.
- *(CN) CHINA JAN CPI M/M: 0.8% V 0.0% PRIOR; Y/Y: 2.1% V 2.1%E; PPI Y/Y: -0.8% v -0.5%e [4th straight decline].
-Komatsu: Reports China Jan excavator demand Y/Y: -37.2% v -13.8% prior [11th straight decline].
Japan
-Nikkei 225 opens +0.5% at 27,711.
- (JP) BOJ Dep Gov Amamiya: Reiterates still distance from hitting stable inflation, appropriate to continue with current easi.
- (JP) More speculation that Japan govt plans to submit BOJ nominations to parliament early next week, likely on Tue, Feb 14th [at 11 AM Japan time (2 AM GMT)] - Japanese press.
- (JP) Follow Up: Japan government considering conducting hearings for BOJ Gov and Dep Gov Nominees in the Lower House on Feb 24th (Fri) – financial press.
- (JP) BOJ Gov Kuroda: To closely watch actual result of wage growth.
- (JP) BOJ Dep Gov Amamiya scheduled to appear in parliament from 2:10 PM local time [5:10 AM GMT]; Gov Kuroda to appear from 9:30 AM [12:30 AM GMT].
- (JP) BOJ: will conduct Funds-Supplying Operations against Pooled Collateral on February 14, 2023.
- (JP) Japan Jan PPI (CGPI) M/M: 0.0% v 0.3%e; Y/Y: 9.5% v 9.7%e.
Korea
-Kospi opens -0.4% at 2,470.
Other Asia
- MSCI revises Adani Group weightings after free float review – FT.
- (TH) Thailand Fin Min: Strong Baht is currently a risk to the economy.
North America
- *(US) TREASURY $21B 30-YEAR BOND AUCTION DRAWS 3.686% V 4.080% PRIOR; BID TO COVER 2.25 V 2.42 PRIOR AND 2.35 OVER THE LAST FOUR AUCTIONS.
-Tesla [TSLA]: Said to increase price of Model Y Rear Wheel Drive version in China by less than 1% to ~CNY261.9K - financial press.
- (US) Fed's Barkin (non-voter): Fed needs to stay the course on reigning in inflation.
Europe
- (DE) ECB's Nagel (Germany): Core inflation decisive gauge for monetary policy.
- US regulators approve Freeport LNG request to return ship loading to service - press.
Levels as of 00:20 ET
- Nikkei 225, +0.2%, ASX 200 -0.8% , Hang Seng -2.1%; Shanghai Composite -0.7% ; Kospi -0.7%.
- Equity S&P500 Futures: -0.2%; Nasdaq100 -0.3%, Dax -0.8%; FTSE100 -0.4%.
- EUR 1.0742-1.0717 ; JPY 131.89-131.38 ; AUD 0.6948-0.6911 ;NZD 0.6331-0.6302.
- Gold -0.8% at $1,863/oz; Crude Oil -0.4% at $77.73/brl; Copper -0.8% at $4.0370/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.