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Friday, February 3, 2012

TradeTheNews.com Asian market update: shares fall on sustained global uncertainty, Taiwan shares/service




(KR) South Korea Dec checking account: $4.0 b V $4 Corp. before (3-month low); WERE BALANCE: $3 WILL BE $4.0 B BEFORE V
-(NZ) NEW ZEALAND Dec power INDEX SERVICES: 50.6 v 56.2 VOR
-(UK) UK JAN HOME TRACK housing survey M/M: 0.0% V 0.2% against (9-month high); Y/y: 1.6% V 2.1% against (13-month high)
-(PH) PHILIPPINES Q4 GDP Q/F: 0.9% V 0.1%E; Y/Y: 3.7% V 3.8%E; 2011 GDP Y/Y: 3.7% V 3.7%E
-Shanghai (CN) new home sales 89.2% w/w; Prices 40.9% w/w - UWIN


B. market snapshot (as 05: 30GMT).
-Nikkei225 0.6%
-S & P/ASX-0, 4 %
-Kospi 1.3%
-Taiwan TAIEX + 2.4%
-Singapur Straits Times 0.8%
-Shanghai composite 0.6%
-Hang Seng 0.6%
S & P futures 0.5% to 1.305
-Feb gold unchanged on $1.732 / oz
-März crude oil 0.5% at $99.11


B. Overview/top headlines.
Markets were all negative, with the exception of Taiwan almost 3% increases in the first day back from new year break. Strong earnings from Apple during the TAIEX was closed pushed component manufacturer Hon Hai up to limit. The remaining markets were tracking softer in the vicinity of the Wall Street of a Greek solution be reached on Friday with lower than expected US GDP data and the persistent inability to all by 0.5% or more. Markets are also cautious ahead of the EU Summit, where it is expected that an agreement for the ESM will be signed. Greece of Germany refused to be able to take over call budget and economic planning for the country over the weekend. EUR/USD fell over 50 pips $1.3165 test. The continuing strong yen weighed on Japan, warned PM Noda, Japan would if necessary appropriate action in the currency markets, EUR/JPY was the big mover ¥ 100.97 test. AUD/USD fell over 90 pips to $1.0565. Shanghai and Hong Kong weighed were down again the lack of expected PBoC measures that cut the RRR on the lunar new year.


** Speaker/geopolitical/in the press.
-USD/CNY: (CN) China Premier Wen: Government increases elasticity of the Yuan Exchange in both directions — rare Chinese press
-(CN) to Beijing Municipal Commission of housing and urban rural development there was year deals no housing in Beijing during the Lunar New, the first time in 3 years-HK press
-(DE) English fin min Schaeuble: reliable policies are more likely to restore confidence in the EU as large bazookas - interview with financial press
-Südkorea (KR) delegation planning a meeting with S & P to avoid a possible sovereign downgrade - Korean press
-(CN) former China Siwei legislator: China should deposit rates; Customize looks 2012 CPI over 5 %
-(NZ) new Zealand PM key: significant demand looks New Zealand borrowings from China; Concerned about FX prices, difficult for exporters of $0.75 - US compete financial press
-(GR) Troika officials have increased their estimates for the second rescue package for Greece € 15, €145B due to the deteriorating economic situation
-(CN) PBoC new loans to property developers in 2011 fell 38% from 2010 to the CNY1. 26T
-(FR) France Pres Sarkozy: 2011 budget deficit may 5, 3-5, 4% of GDP; Confirmed to propose relief to businesses by increasing social spending to a 1.6% increase in VAT to 21.2% of finance; Competitiveness announces agreement
-(FR) France President Sarkozy: Confirmed plans to VAT by 1.6% to 21.2%; 1. Aug - national TV speech a 0.1% tax on financial transactions (Tobin tax), to introduce effective


B. shares.
-Gun, 7751.JP: FY11 NET reports ¥ 248 Corp. V ¥ 246Be, operating profit ¥ 378.1 b V ¥ 375Be, ¥ 3.56 t V ¥ 3. 7th Rev
-OST.AU: Govt, a$ 64 M under the competitive help to give; Use resources to maximize productivity
-004940.KR: given consent as expected Hana Financial Acquires Lone Star on CEF - Korean press
-ROC.AU: Q4 Rev reports A$ 776.4 M; production 0.713 MMBOE, + 7% Q/Q
Bank of China Hong Kong 2388.HK: was assigned to the handle the Yuan clearing business of Malaysia - Chinese press


B. FX/fixed income / commodities.
-USD/CNY: IMF to check if the Yuan should still be considered "substantially undervalued" since it could end in 2011 - financial press quickly appreciate knowing
-(KR) Chinese investors have their purchases of Korean bonds cut - Korean press
-(IR) Iran oil min: may soon cut exports to EU Member States in a preemptive ban - financial press oil
EUR / CHF: (CH) Swiss fin min Widmer-Schlumpf: markets are in compliance with the SNB floor to tochf1.1. 20; View that only SNB can decide, whether it wants to defend a higher level reaffirmed
-(AU) Newcastle coal exports 11.6% V + 43% previous week ended Jan 30th
-Fitch (AU) puts Australian banks on rate watch negative; Canadian banks confirmed

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