Reply To: Traders Market Weekly: Avoid Whiplash, Fasten Your Seatbelts


Equity indices in the Asia-Pacific region ended Thursday on a mixed note while markets in China remained closed for Labor Day.
Hong Kong’s Hang Seng: +2.5%,
Japan’s Nikkei: -0.1%,
China’s Shanghai Composite: HOLIDAY,
India’s Sensex: +0.2%,
South Korea’s Kospi: -0.3%,
Australia’s ASX All Ordinaries: +0.2%.

April Household Confidence 38.3 (expected 39.7; last 39.5)
The Bank of Japan reportedly conducted another intervention yesterday when the yen rallied strongly against the dollar in the wake of the May FOMC Statement.

South Korea
April CPI 0.0% m/m (expected 0.2%; last 0.1%); 2.9% yr/yr (expected 3.0%; last 3.1%). Final April Manufacturing PMI 49.4 (last 49.8)

final April Manufacturing PMI 58.8 (expected 59.5; last 59.1)

Hong Kong
Q1 GDP 2.3% qtr/qtr (expected 0.9%; last 0.4%); 2.7% yr/yr (expected 0.9%; last 4.3%)
Property developers displayed continued strength in Hong Kong.

March Building Approvals 1.9% m/m (expected 3.5%; last -0.9%); -2.5% yr/yr (expected 5.2%; last 4.9%)
Private House Approvals 3.8% m/m (last 12.4%).
March trade surplus AUD5.02 bln (expected surplus of AUD7.19 bln; last surplus of AUD6.59 bln).
March Imports 4.2% m/m (last 4.5%) and Exports 0.1% m/m (last -3.2%)\

Chinese imports to the U.S. may become more expensive since some members of President Biden’s party are pushing for higher tariffs.

New Zealand
March Building Consents -0.2% m/m (last 15.9%)