- This topic has 73 replies, 4 voices, and was last updated 1 month, 4 weeks ago by
.
- Posts
Equity indices in the Asia-Pacific region began the week on a mostly higher note.
–Equity Markets—
Japan’s Nikkei: +0.5%
Hong Kong’s Hang Seng: +0.1%
China’s Shanghai Composite: +0.7%
India’s Sensex: +0.2%
South Korea’s Kospi: -0.2%
Australia’s ASX All Ordinaries: +0.6%Major European indices trade on a mostly higher note.
Japan’s Nikkei: +0.5%
Hong Kong’s Hang Seng: +0.1%
China’s Shanghai Composite: +0.7%
India’s Sensex: +0.2%
South Korea’s Kospi: -0.2%
Australia’s ASX All Ordinaries: +0.6%he S&P 500 futures are down 4 point and are trading 0.1% below fair value.
The Nasdaq 100 futures are down 91 points and are trading 0.7% below fair value.
The Dow Jones Industrial Average futures are up 118 points and are trading 0.3% above fair value.China will reportedly forbid adding steel production capacity and will increase M&A support.
China and Japan have reportedly established a military hotline.
Japan is suspending subsidies for several utility providers.The Reserve Bank of Australia is expected to hold its cash rate at 3.60% at tomorrow’s policy meeting while the Reserve Bank of New Zealand is expected to announce a 25-bps hike on Wednesday.
China’s March Caixin Manufacturing PMI 50.0 (expected 51.7; last 51.6)
Japan’s March Manufacturing PMI 49.2 (expected 48.6; last 48.6).
Q1 Tankan Large Manufacturers Index 1 (expected 3; last 7)
Q1 Tankan Large-Non Manufacturers Diffusion Index 15 (expected 16; last 11).
Q1 Tankan All Big Industry CAPEX 3.2% (expected 4.9%; last 19.2%)South Korea’s March Nikkei Manufacturing PMI 47.6 (last 48.5)
Australia’s March Manufacturing PMI 49.1 (expected 48.7; last 50.5).
February Building Approvals 4.0% m/m (expected -2.0%; last -27.1%)
Private House Approvals 11.3% (expected -0.8%; last -13.8%).
March Home Loans -1.2% m/m (expected -3.0%; last -2.0%).
March Retail Sales 0.2% m/m (expected 0.1%; last 1.8%)Singapore’s Q1 URA Property Index 3.2% qtr/qtr (last 0.4%)
European Central Bank policymaker de Guindos said that broad risks across the financial sector are being monitored and that the ECB would act to preserve stability in the eurozone.
The eurozone’s Manufacturing PMI slipped deeper into contractionary territory in the final March reading.
Eurozone’s March Manufacturing PMI 47.3 (expected 47.1; last 48.5)
Germany’s March Manufacturing PMI 44.7 (expected 44.4; last 46.3)
France’s March Manufacturing PMI 47.3 (expected 47.7; last 47.4).
Italy’s March Manufacturing PMI 51.1 (expected 51.0; last 52.0)
Spain’s March Manufacturing PMI 51.3 (expected 50.1; last 50.7)U.K.’s March Manufacturing PMI 47.9 (expected 48.0; last 49.3)
France’s February government budget balance -EUR50.30 bln (last -EUR21.20 bln)
Swiss March CPI 0.2% m/m (expected 0.4%; last 0.7%); 2.9% yr/yr (expected 3.2%; last 3.4%).
March procure.ch PMI 47.0 (expected 48.9; last 48.9)Tesla (TSLA 201.90, -5.56, -2.7%): reports Q1 production of 440,808 vehicles and delivered over 422,000 vehicles.
McDonald’s (MCD 281.67, +2.06, +0.7%) temporarily closes US offices ahead of corporate layoff announcements, according to WSJ
World Wrestling (WWE 83.60, -7.66, -8.4%): Endeavor Group announces UFC and WWE (WWE) to form a $21+ billion global live sports and entertainment company
Extra Space Storage (EXR 153.00, -9.93, -6.1%): company and Life Storage (LSI) combine to form the preeminent storage operator
Teck Resources (TECK 40.98, +4.48, +12.3%): Board of Directors rejects unsolicited acquisition proposal
UBS (UBS 20.31, -1.03, -4.8%): will eliminate 20-30% of workforce after Credit Suisse (CS) deal gets complicated, according to Bloomberg
World Wrestling (WWE 83.60, -7.66, -8.4%): Endeavor Group announces UFC and WWE (WWE) to form a $21+ billion global live sports and entertainment companyOccidental Petroleum (OXY 66.20, +3.77, +6.0%),
Chevron (CVX 170.00, +6.84, +4.2%),
Exxon (XOM 113.92, +4.26, +3.9%)Higher this morning following the surprise oil production cut from OPEC+.
OPEC+ surprised markets with news that it will reduce oil production by another 1 million barrels per day starting in May, according to Bloomberg. According to FT, Saudi Arabia was “irritated” with the Biden Administration after ruling out new purchases of oil to refill the SPR. WTI crude oil futures are up 6.6% to $80.64/bbl.
- You must be logged in to reply to this topic.