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Equity indices in the Asia-Pacific region ended Thursday on a slightly higher note.
Japan’s Nikkei: +0.3%,
Hong Kong’s Hang Seng: +0.2%,
China’s Shanghai Composite: -0.3%,
India’s Sensex: +0.1%,
South Korea’s Kospi: +0.4%,
Australia’s ASX All Ordinaries: -0.2%.South Korea’s March Import Price Index -6.9% yr/yr (expected -0.5%; last -0.7%) and Export Price Index -6.4% yr/yr (expected -2.4%; last -2.6%)
South Korea may increase electricity and gas prices in Q2.
China’s March trade surplus $88.19 bln (expected surplus of $39.20 bln; last surplus of $116.88 bln).
March Imports -1.4% yr/yr (expected -5.0%; last -10.2%) and Exports 14.8% yr/yr (expected -7.0%; last -6.8%)Australia’s March Employment Change 53,000 (expected 20,000; last 63,600) and full employment change 72,200 (expected 8,000; last 79,200). March Unemployment Rate 3.5% (expected 3.6%; last 3.5%) and Participation Rate 66.7% (expected 66.6%; last 66.7%). March MI Inflation Expectations 4.6% (expected 4.8%; last 5.0%)
Australia reported strong employment figures for March, but the market continues expecting that the Reserve Bank of Australia will not raise its cash rate at the policy meeting in May.
India’s March trade deficit $19.73 bln (expected deficit of $18.30 bln; last deficit of $17.43 bln).
March Imports $58.11 bln (last $51.31 bln) and Exports $38.38 bln (last $33.88 bln)Softbank is selling most of its stake in Alibaba.
Japan’s Fast Retailing reported strong results for the first half of the year after markets closed for the day.
Major European indices trade near their flat lines while France’s CAC (+1.0%) outperforms thanks to strength in consumer names after solid results from LVMH.
STOXX Europe 600: +0.2%,
Germany’s DAX: UNCH,
U.K.’s FTSE 100: UNCH,
France’s CAC 40: +1.0%,
Italy’s FTSE MIB: UNCH,
Spain’s IBEX 35: +0.1%.Bank of England Governor Bailey said that institutional structures are being tested by the banking crisis, but the BoE should not turn away from its fight against inflation.
U.K.’s February GDP 0.0% m/m (expected 0.1%; last 0.4%).
February Construction Output 2.4% m/m (expected 0.9%; last -1.7%); 5.7% yr/yr (expected 1.6%; last 3.3%).
February Industrial Production -0.2% m/m (expected 0.2%; last -0.5%); -3.1% yr/yr (expected -3.7%; last -3.2%).
February trade deficit GBP17.53 bln (expected deficit of GBP17.00 bln; last deficit of GBP16.09 bln)Eurozone’s February Industrial Production 1.5% m/m (expected 1.0%; last 1.0%); 2.0% yr/yr (expected 1.5%; last 0.9%)
Germany’s March CPI 0.8% m/m, as expected (last 0.8%); 7.4% yr/yr, as expected (last 8.7%)
Italy’s February Industrial Production -0.2% m/m (expected 0.5%; last -0.5%); -2.3% yr/yr (expected 2.9%; last 1.6%)There is a growing sense that the European Central Bank will announce a 25-bps rate increase at its May meeting.
Delta Air Lines (DAL 34.55, +0.81, +2.4%): misses by $0.05, beats on revs; guides Q2 EPS above consensus, revs above two analyst estimate; reaffirms FY23 EPS guidance, revs guidance
Fastenal (FAST 51.50, -1.06, -2.0%): beats by $0.01, reports revs in-line
Alibaba (BABA 95.19, +1.35, +1.4%): SoftBank moves to sell down most of its Alibaba stake, according to FT
Sarepta (SRPT 123.53, -14.15, -10.3%): FDA staff leaned towards rejecting Sarepta gene therapy before another official intervened, according to Stat News
Apple (AAPL 160.88, +0.78, +0.5%): tripled India iPhone production to $7 billion, according to Bloomberg
First Solar (FSLR 205.00, -2.89, -1.4%): downgraded to Hold from Buy at Deutsche Bank
Harley-Davidson (HOG 35.99, -1.37, -3.7%): announces that Gina Goetter will step down as CFO at the end of April 2023, David Viney to serve as Interim CFO
Hasbro (HAS 52.20, +0.90, +1.8%): Hasbro appoints Gina Goetter as CFO, effective May 18; joining from Harley-Davidson
Amazon.com (AMZN 98.05, +0.22, +0.2%): CEO Andy Jassy releases letter to shareholders
S&P 500 futures are up 9 point and are trading 0.2% above fair value.
Nasdaq 100 futures are up 48 points and are trading 0.4% above fair value.
Dow Jones Industrial Average futures are up 46 points and are trading 0.1% above fair value.Dow 34,029.69 383.19 1.14%
S&P 500 4,146.22 54.27 1.33%
Nasdaq 12,166.27 236.93 1.99%
VIX 17.80 -1.29 -6.76%
Gold 2,054.60 29.70 1.47%
Oil 82.42 -0.84 -1.01%Ohhhhh the humanity — as folks scramble for the APR 18th IRS deadline
Equity indices in the Asia-Pacific region ended the week on a higher note while markets in India were closed for a holiday.
—Equity Markets—
Japan’s Nikkei: +1.2% (+3.5% for the week)
Hong Kong’s Hang Seng: +0.5% (+0.5% for the week)
China’s Shanghai Composite: +0.6% (+0.3% for the week)
India’s Sensex: CLOSED (+1.0% for the week)
South Korea’s Kospi: +0.4% (+3.3% for the week)
Australia’s ASX All Ordinaries: +0.5% (+2.0% for the week)
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