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