Asia market update: Nasdaq FUTs drop on tech earnings [includes Amazon, Apple, Google]; US jobs data due later today, ISM Services also in focus.

General trend

- Asian markets trade mixed.

- Nikkei 225 rises amid corporate earnings, Sony rises.

- Japanese cos. due to report results include Softbank Corp.

- Property firms decline in China.

- Aussie REITs outperform.

- The Adani selloff continues.

- Is Nakaso still in the running for the BOJ Gov position?

Headlines/economic data

Australia/New Zealand

- ASX 200 opens flat at 7,510.

- (AU) Australia Jan Final PMI Services: 48.6 v 48.3 prelim (confirms 4th month of contraction).

- (AU) Australia sells A$500M v A$500M indicated in 3.25% Apr 2029 bonds; Avg Yield: 3.1922% ; bid-to-cover: 3.8x.

- (AU) 30 out of 31 economists polled expect the Reserve Bank of Australia (RBA) to raise rates by 25bps at the Feb 7th meeting [Tues], 1 economist expects rates to be left unchanged - financial press.

- (NZ) New Zealand Jan Consumer Confidence: 83.4 v 73.8 prior.

China/Hong Kong

-Hang Seng opens -0.7% at 21,811.

-Shanghai Composite opens -0.3% at 3,275.

-*(CN) China Jan CAIXIN PMI sevices: 52.9 V 51.0E [first expansion in 5 months].

-(US) US Official: The ‘Gang of 8’ staff was briefed on China ‘spy balloon’ [US Pentagon said a Chinese spy balloon was seen over the Western US].

-(HK) China and Hong Kong confirm to end daily entry quota for border crossings, to end pre-arrival PCR testing; to resume group tours, effective Feb 6th.


-Nikkei 225 opens +0.2% at 27,455.

-(JP) Former BOJ Dep Gov Nakaso to serve on APEC advisory body; Nakaso made no mention of the BOJ Gov position. - financial press.

-(JP) Japan Fin Min Suzuki: Next BOJ Gov has NOT been decided yet; No comment on Nakaso's remark about becoming APEC advisory panel head.

-(JP) Bank of Japan (BOJ) Gov Kuroda: BOJ's paper loss from bond holdings was ¥8.8T as of the end of 2022.

-(JP) Bank of Japan (BOJ) announcement related to daily bond buying operation: inline with planned amounts.

-(JP) Japan Jan Final PMI Services: 52.3 v 52.4 prelim [confirms 5th straight expansion].

-Nojima [7419.JP]: Says to raise monthly base salaries by avg 4%.


-Kospi opens flat at 2,466.

-(KR) South Korea Jan Foreign Reserves: $430B v $423.2B prior.

-(KR) South Korea Fin Min Choo: Expects chip exports to recover in H2.

North America

-(US) CFTC: Weekly commitments of traders report to be delayed, cites ransomware attack on Ion Trading UK.

-Nordstrom [JWN]: Activist Ryan Cohen said to acquire stake, said to be building a 'sizeable' stake - US financial press.

Levels as of 00:20 ET

- Nikkei 225, +0.3%, ASX 200 +0.6% , Hang Seng -1.6%; Shanghai Composite -1.2% ; Kospi +0.4%.

- Equity S&P500 Futures: -0.5%; Nasdaq100 -1.4%, Dax -0.2%; FTSE100 flat.

- EUR 1.0916-1.0887 ; JPY 128.82-128.44 ; AUD 0.7087-0.7048 ;NZD 0.6484-0.6460.

- Gold -0.1% at $1,928/oz; Crude Oil -0.3% at $75.64/brl; Copper +0.8% at $4.1170/lb.

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