-(JP) BANK of JAPAN (BOJ) leaves RATE ZIELBAND unaltered between 0.0% to 0.10% as expected; LOWERS GDP forecasts and economic evaluation (3 consecutive cut)
-Nordamerika semi equipment industry DEC sale book to bill ratio: 0.88 v 0.83 (3 consecutive monthly increase)
-(AU) Australia NOV INDEX leading CONFERENCE BOARD: 0.3% V 0.5% prior (5-month low)
-(IN) of the Central Bank of India (RBI) cuts CASH RESERVE set (CRR) by 50 basis points to 5.50% (not expected); LEAVES REPO RATE UNCHANGED AT 8.50%, AS EXPECTED
* Market snapshot (as 05: 30GMT) *.
-Nikkei225 + 0.2%
S & P/ASX unchanged
-Kospi closed
-Taiwan closed TAIEX
-Singapur Straits Times Index closed
-Shanghai composite closed
-Hang Seng closed
S & P futures 0.3 in 1.307
-Feb gold 0.2% to $1.674 / oz
-März raw + 0.2% at $99,81
* Overview/top headlines *.
-For the second consecutive day, celebrating only in Australia and Japan as a result of the new year were opened, were stock markets significantly more positive today with the hope that a resolution for Greece can be reached. EU Juncker said that the PSI has to reach 120% debt/GDP target in 2020 and the Greek program off course, action must be run before there is a new program. Minister declined a proposal by PSI, made from the private bondholders to the Greek debt restructure, to reconcile Ministers for the group, less than 4% of press received it for the restructured debt.
-EU fin min also members of the EU stronger budgetary rules favour and bailout funds got the structure for the permanent EU steps closer at the end. France fin min Baroin said that it expected good progress in the ESM agreement signed Jan 30th. Agreement under say the ESM can secure loans without unanimous Govt and need only 85% of the euro-zone Governments.
EUR / USD came from his 3 weeks remain high, especially for the Asian session unchanged. AUD/USD lost 30 points to $1.0493. The other major currencies were little changed. Brent crude oil was around $110.60 as Iran sanctions around the globe, including the EU be agreed. U.S. Treasury yields contributed to press Japan 10-yr JGB yield 1%, its highest level since mid Dec.
How expected the Bank of Japan left unchanged the target data rate. Times its economic assessment for the third consecutive say cutting "Economic activity more or less flat, was overseas and appreciation of the yen mainly due to the impact of the economic slowdown." The BoJ as promised, also updated forecasts GDP cut FY11/12-0.4% from 0.3% to FY12/13, + 2% of 2.2% and increase the FY13 / 14. CPI forecast for FY11/12 on - 0, 1 was cut % 0.0%, other years have been confirmed. Japan Cabinet Office leads also FY15 primary deficit of 3.6% of GDP; Miss budget surplus in FY20 with 10% VAT, 3.1% of GDP deficit. This is Japan's sovereign note in danger, a downgrade, Outlook already negative.
-Although the report of the IMF Australia is expected not until June, has the IMF of Australia's largest banks increase dependent on their capital. IMF, said that the banks not dual shock residential property downturn and losses on loans of companies able to withstand. The IMF found the main vulnerabilities of the Australian banking sector their exposure to highly indebted households was loans, along with their Great Plains short-term borrowing, the offshore by mortgage loans.
* Speakers/geopolitical/in the press *.
-(JP) Japan Econ min Furukawa: falling trade surplus in Japan confirms that the domestic industry; is being eroded is Japan next trade deficit face when JPY remains strong - Nikkei news
-(CN) Central Bank of China (PBoC) gov Zhou: Chinese businesses rely less on S & P, Fitch and Moody's credit ratings and more their own due diligence – China Newsweek must do for
-(AU) Australia manufacturing min Carr rejects suggestions that car subsidies that are coiled should call the industry a cornerstone sound Australia production - the Australian
-(PT) US financial press which are a growing number of analysts, economists and politicians worried that Portugal need a second rescue mission in 2013 if she has €9B debt due
* Shares *.
-LYC.AU: Announces new cornerstone investor; Increase in $225 M through the issue of convertible bonds
-9501.JP: Nippon life insurance co., Dai-Ichi Seimei life insurance and two other insurers provide TEPCO ¥ 100 (b) syndicated loan already in April - Nikkei news
-NCM.AU: Q2 reports gold issue 579 K vs 587.3 K Q/Q, -20% y/y; Copper 18.2 K tons vs. 19.2 K Q/q
* US shares *.
-VMW: Q4 reports $0.62 V $0. 60s, R$ 1.06 b V $1. 0be; Leader first FY12 Rev $4.48 - release 4.6B V $4. 5be; + 4.7% afterhours
-TXN: Q4 reports $0.25 (incl. $0.23 fees) V $0 genn'e, R$ 3.42 b V $3. 3be; CFO: a recovery of in demand in a wide range of products SAH in the quarter; + 3.6% afterhours
-STM: Q4-V reports $0.01-$ 0 03e, R$ 2.19 b V $2. 2be; Q1 Rev-10% results in up to 4% Q/Q (implies V $2. 1be) $1.97-2.10B; + 1.9% afterhours
-WDC: Reports Q2 $1.51(adj) V $0. 71e, R$ 1.99 b V $1. 8be. Q3 $1. 15-1, 45 (ex items) V $0 91e, R$ 2.0 - leads 2.15B V $2. 0be; + 5.2% afterhours
-PLCM: Q4 reports $0.41 V $0 29e, R$ 407.0 M V $401Me; + 14.0% afterhours
-CSX: Q4 reports $0.43 V $0 44e, R$ 2.95 b V $3. 0be; -3.0% afterhours
-CR: Q4 reports $0.88 V $0 90e, R$ 632 M V $650Me; Leader first FY12 $3, 75-3.95 V $3. 86, Rev + 5-6% (implies $2.67 - 2.70B v)
$2. 7be); 0.2% Afterhours
* FX/fixed income / commodities *.
-(CN) China Ministry of Commerce (MOFCOM): domestic pork prices + 3.0% in Jan 11-20 period - financial press
-FCG.New Zealand: New Zealand Commerce Commission announces plans for annual monitoring of the milk prices in New Zealand - Dominion Post
-GLD: Gold trust ETF daily holdings fall SPDR by 5.2 tonnes to 1,250.5 tonnes (lowest since 1,245.1 on Nov 11th)
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