Events for next week include China GDP, RBA minutes, US/Japan trade talks and NZ CPI
|Asia Market Update: Asian equities trade mixed ahead of China trade data; Events for next week include China GDP, RBA minutes, US/Japan trade talks and NZ CPI
General Trend:
- Healthcare, Property, Consumer Discretionary and Materials firms are among the decliners in Shanghai
- Heavily weighted companies lead equity gains in Japan (Softbank and Fast Retailing)
- Nikkei-weighted Fast Retailing rises over 7%, Q2 earnings beat ests
- China PBoC skipped open market operation (OMO) for 17th straight session
- Various Chinese press articles comment on the possible stabilization in domestic economic data
- China March trade balance expected to be released on Friday during the China afternoon
- China Q1 GDP expected to be released on April 17th (Wed)
- RBA Financial Stability Review did not comment directly on monetary policy, April policy meeting minutes due on April 16th (Tuesday)
- Singapore Central Bank left policy unchanged (as expected), Q1 growth slowed more than expected
- US bank earnings in focus on Friday, JPMorgan, Wells Fargo and PNC are expected to report
- US/Japan due to hold first round of trade talks on April 15-16th (Mon-Tues) in Washington D.C
- New Zealand Q1 CPI data is expected to be released on April 17th (Wed)
- Bank of Korea (BOK) is expected to hold its rate decision on April 18th (unchanged expected)
Headlines/Economic Data
Australia/New Zealand
- ASX 200 opened +0.5%
- (AU) RESERVE BANK OF AUSTRALIA (RBA) FINANCIAL STABILITY REVIEW: DOES NOT COMMENT DIRECTLY ON MONETARY POLICY
- Commonwealth Bank [CBA.AU]: Said to be preparing plan to cut 10,000 jobs (approx 20% of global workforce*) - Australia press
- (NZ) New Zealand March REINZ Median House Prices M/M: -1.9%; Y/Y: 4.7%
- (NZ) New Zealand Mar Business Manufacturing PMI: 51.9 v 53.4 prior (lowest reading since July 2018)
China/Hong Kong
- Shanghai opened -0.2%, Hang Seng opened -0.1%
- (CN) China PBoC Open Market Operation (OMO): Skips for 17th straight session: Net: CNY0 v CNY0 prior
- (CN) China PBoC sets yuan reference rate: 6.7220 v 6.7088 prior
- (CN) Economic data signals stable growth - China Daily
- (CN) China Former PBOC Official: China economy to stabilize in Q2 - Chinese Press
Japan
- Nikkei opened +0.3%
- (JP) Japan Fin Min Aso: Japanese firms are eager to invest in the US; will further expand US-Japanese trade - comments from Washington
- (JP) Bank of Japan (BOJ) Gov Kuroda: Japan's first presidency of the G20 will focus on financial regulations and global economy - comments in DC
- (JP) Japan Fin Min Official: G20 won't issue statement on Friday
- (JP) Japan Econ Min Motegi: Confirms first round of US-Japan trade talks to be held on April 15-16th; want to firmly discuss for a good outcome; will start by deciding on targeting goods and categories
Korea
- Kospi opened -0.2%
- (KR) Pres Trump: Another meeting with [North Korea] Leader Kim could happen
- (KR) South Korea sells KRW500B v KRW500B indicated in 50-year bonds: avg yield 1.880% v 1.98% prior
Other
- (SG) SINGAPORE Q1 ADVANCE GDP Q/Q: 2.0% V 2.2%E; Y/Y: 1.3% V 1.4%E (slowest annualized growth since 2016)
- (SG) MONETARY AUTHORITY OF SINGAPORE (MAS) SEMI-ANNUAL MONETARY POLICY STATEMENT: LEAVES POLICY UNCHANGED (AS EXPECTED); Follows 2 consecutive tightening moves
- (PH) Philippines Central Bank (BSP) Gov Diokno: Rate cut is on the agenda, reserve ratio (RRR) cut in agenda 'all the time'
North America
- (US) US Fed Chair Powell said to reiterate 'rates in right place'
- (US) Herman Cain expected to withdraw his name from Fed consideration amid opposition to his nomination - US Media
- (US) White House Economic Adviser Hassett: Q2 growth could be 4%, putting us on track for annual growth of 3%
- Disney [DIS]: CEO Iger: To step down in 2021; succession plan in works - CNBC
Europe
- (EU) ECB policymakers are reportedly skeptical about tiered deposit rate; reportedly leaning towards offering negative rate on TLTRO to banks that achieve lending targets - press
Levels as of 1:20 ET
- Nikkei 225,+0.7 %, ASX 200 +0.8%, Hang Seng -0.2%; Shanghai Composite -0.2%; Kospi +0.3%
- Equity Futures: S&P500 +0.1%; Nasdaq100 +0.1%, Dax +0.1%; FTSE100 +0.2%
- EUR 1.1295-1.1252 ; JPY 111.81-111.58 ; AUD 0.7134-0.7115 ;NZD 0.6738-0.6713
- Gold +0.2% at $1,295/oz; Crude Oil +0.4% at $63.83/brl; Copper +0.3% at $2.903/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.