Equity markets trade generally lower after weakness in the US

Asia Market: Equity markets trade generally lower after weakness in the US; Later today US/Japan talks in focus

-Taiwan Semi declines over 6% after cutting FY outlook, weighs on sector

- Mining shares decline following gains on Thursday

-Japan March CPI slows amid speculation BoJ might cut inflation forecasts at April meeting (26-27th)

-Japan Fin Min Aso said there were no issues with currencies at G-20 meeting; Aso and Mnuchin to meet later on Friday (1:45 PM EST)

-PBoC injects liquidity for the week through its OMOs vs prior drain

-Certain Chinese banks said to raise interest rates on CDs following recent informal guidance from PBoC

-Asian 10-year government bond yields track rise in US interest rates

-Australia Q1 CPI data due for release next week (Tuesday, April 24th)

Australia/New Zealand

-ASX 200 opened -0.3%; closed -0.3%

-ASX 200 Telecom index -1.1%, Utilities -0.8%, Resources -0.4%, REIT -0.3% Financials -0.1%

-Retailer Adaris [ADH.AU] rises over 17% after raising guidance.

-(AU) Australia Treasurer Morrison: Confirms tougher penalties for corporate misconduct

-(AU) Australia sells A$400M v A$400M indicated in Nov 2027 bonds, avg yield 2.7989% v 2.7735% prior, bid to cover: 5.95x v 5.96x prior

China/Hong Kong

-Shanghai Composite opened -0.4%, Hang Seng -0.2%

-Hang Seng Materials index -2%, Info Tech -1.5%, Energy -1.5%, Industrial Goods -1.2%, Property/Construction -1.1%, Consumer Goods -0.9%, Services -0.7%, Financials -0.4%

-Shanghai Property sub-index declines over 1.5%

-(CN) China PBoC auctions 3-month Finance Ministry (MOF) deposits at 4.50%

-(CN) China PBoC sets yuan reference rate at 6.2897 v 6.2832 prior

-(CN) China PBoC Open Market Operation (OMO): Skips OMO v CNY190B injected in 7-day reverse repos prior

-(HK) Hong Kong Exchanges: To announce dual class share and biotech listing rules on Tuesday, April 24th

Japan

-Nikkei 225 opened -0.2%; closed -0.1%

-TOPIX Electric Appliances index -0.5%; Securities +1.2%, Real Estate +0.7%, Retail Trade +0.5%

-(JP) JAPAN MAR NATIONAL CPI Y/Y: 1.1% V 1.1%E; CPI EX FRESH FOOD (CORE): 0.9% V 0.9%E

-(JP) Japan Feb Tertiary Industry Index M/M: 0.0% v 0.0%e

-(JP) Japan Chief Cabinet Sec Suga: Reiterates still will not accept demands for Finance Min Aso to resign

-(JP) Bank of Japan (BoJ): Company loan demand index 3 v 8 prior - April Loan Officer Opinion Survey

-(JP) Japan Finance Ministry (MOF) Official: Talks at between Finance Min Aso and US Treasury Sec Mnuchin to be made in context of view that global imbalances should be dealt with multilaterally and not bilaterally

-(JP) Bank of Japan Kuroda: protectionism is not good for world economy but do not expect it to spread

Korea

-Kospi opened -0.3%

North America

-US equity markets ended lower: Dow -0.3%, S&P500 -0.6%, Nasdaq -0.8%, Russell -0.6%

-S&P 500 Consumer Staples -2.9%, Materials -1.1%, Technology -1.1%

-(US) Fed's Mester (FOMC voter, hawk): Reiterates further rate hikes appropriate in 2018 and 2019

Europe

-(UK) Bank of England (BOE) Gov Carney: should prepare for a few interest rate hikes over next few years; expect there will be differences of opinion at May policy meeting - BBC interview; Believes there will be some differences of opinion at the May MPC Meeting; Conscious there are other meetings throughout remainder of year (NOTE: current market expectations are for a rate hike at the May meeting)

-EU said to comprehensively reject UK Brexit proposals for solution on Irish border – press

-(DE) Germany March Tax Rev +1.9% y/y; Q1 Tax Rev +4.1% y/y (in line with full-year projection) - Finance Ministry Monthly Report

Levels as of 02:00ET

- Hang Seng -0.5%; Shanghai Composite -1.4%; Kospi -0.4%

- Equity Futures: S&P500 flat; Nasdaq100 flat, Dax flat; FTSE100 flat

- EUR 1.2335-1.2350 ; JPY 107.34-107.75 ; AUD 0.7705-0.7734 ;NZD 0.7235-0.7274

- Jun Gold -0.3% at $1,344/oz; May Crude Oil -0.3% at $68.09/brl; May Copper -0.3% at $3.119/lb