TradeTheNews.com Staff
TradeTheNews.com
General trend
- Hang Seng declines by over 2%; TECH index drops by more than 3% [block trade reported for Alibaba], Mainland Properties index lower by over 2%.
- Japanese equities have remained modestly lower.
- Japanese cos. expected to report earnings include Honda, Bridgestone, Fujifilm, Rakuten, Shiseido, Japan Post, Sapporo.
- Japan markets are closed on Thurs. [Aug 11th].
- Australian equities have remained slightly lower.
- US equity FUTs also trade slightly lower.
- Musk sold shares in Tesla.
- Thailand Central Bank expected to raise rates later today [the last rate hike was back in Dec 2018].
- China may release bank lending data this week.
- Taiwan Semi may report monthly sales.
Headlines/Economic data
Australia/New Zealand
- ASX 200 opened 0.0%.
- CBA.AU Reports FY22 (A$) Cash profit 9.6B v 8.7B y/y; Rev 24.4B v 24.4B y/y; Final dividend to A$2.10 v A$3.50 y/y.
- GNC.AU Raises FY22 (A$) underlying Net 365-400M (prior 310-370M); underlying EBITDA 680-730M (prior 590-670M).
- (AU) Australia reviews China aluminum imports amid anti-dumping probe [to review the current anti-dumping measures which have been in place since Oct 2010] – SCMP.
- (AU) Australia sells A$800M v A$800M indicated in 1.00% Nov 2031 bonds; Avg Yield: 3.1801%; bid-to-cover: 2.3x.
- (AU) China Ambassador to Australia Qian: We have not yet come to the stage to talk about how to solve trade issue.
Japan
- Nikkei 225 opened -0.2%.
- (JP) Japan July PPI (CGPI) M/M: 0.4% v 0.4%e; Y/Y: 8.6% v 8.4%e.
- (JP) Bank of Japan (BOJ) offers to buy 5-10 year JGBs at fixed rate of 25bps; Opens window to buy unlimited amount of 10-year JGBs at 0.25% [as expected].
- (JP) Japan Chief Cabinet Sec Matsuno: Cabinet has resigned ahead of reshuffling.
- (JP) Japan Fin Min Suzuki: Protecting fiscal health is most important role as Fin Min, fiscal situation remains severe.
- (JP) Japan Cabinet Reshuffle: Fin Min Suzuki to remain in position, Econ Min Yamagiwa to remain.
Korea
- Kospi opened -0.4%.
- (KR) South Korea July Unemployment Rate: 2.9% v 2.9%e.
- (KR) Bank of Korea (BOK) sells KRW960B v KRW800B indicated in 1-year Monetary Stabilization Bonds (MSBs): Avg Yield: 2.95% v 3.05% prior.
- 267250.KR Awarded contract worth KRW1.96T for 7 LNG carriers.
- (KR) South Korea July Bank Lending to Households (KRW): 1,060.5T v 1,060.8T prior (1st decline in 4 months).
China/Hong Kong
- Hang Seng opened -0.2%; Shanghai Composite opened -0.2%.
- (CN) China July CPI M/M: 0.5% V 0.5%E; Y/Y: 2.7% V 2.9%E; PPI Y/Y: 4.2% v 4.9%e.
- 992.HK Reports Q1 Net $516M v $466M y/y, Rev $17.0B v $16.9B y/y.
- (HK) Hong Kong Monetary Authority (HKMA) purchases HK$1.49B to defend currency peg.
- (CN) China city of Langfang, in Hebei relaxes property curbs - SCMP.
- (CN) China reports 1,094 COVID cases for Aug 9th v 939 prior.
- (CN) China PBOC sets Yuan reference rate: 6.7612 v 6.7584 prior.
- (CN) China PBOC Open Market Operation (OMO): Sells CNY2.0B in 7-day reverse repos v CNY2.0B prior; Net CNY0B v Net CNY0B prior.
Other
- (TW) China reiterates not ruling out the use of force for Taiwan and the use of 1 country 2 systems for Taiwan - China State TV.
North America
- TSLA Musk reports sale of 7.92M shares totaling $6.89B, now holds ~155M shares – filing.
- TSLA CEO Musk: Done selling stock, important to avoid emergency sale of Tesla stock; Will purchase Tesla shares again if the Twitter deal doesn't close - tweet.
Europe
- ALC.CH Reports Q2 $0.63 v $0.55e, Rev $2.20B v $2.19Be; Cuts FY22 guidance.
- BAVA.DK Monkeypox Update: FDA authorizes emergency use of JYNNEOS vaccine to increase vaccine supply; Individuals who receive vaccine intradermally will receive a lower volume (one fifth) than individuals who receive the vaccine subcutaneously.
- (DE) Germany said to be looking at raising income tax brackets which would drop the expected tax take by €10.12B in 2023 - press (US session).
Levels as of 01:15ET
- Hang Seng -2.0%; Shanghai Composite -0.5%; Kospi -0.7%; Nikkei225 -0.7%; ASX 200 -0.3%.
- Equity Futures: S&P500 -0.0%; Nasdaq100 -0.1%, Dax -0.2%; FTSE100 -0.1%.
- EUR 1.0220-1.0203; JPY 135.30-134.90; AUD 0.6970-0.6947; NZD 0.6295-0.6276.
- Commodity Futures: Gold -0.4% at $1,805/oz; Crude Oil -0.3% at $90.25/brl; Copper -0.7% at $3.56/lb.
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