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Equity indices in the Asia-Pacific region began the week on a higher note.
Japan’s Nikkei: +1.3%,
Hong Kong’s Hang Seng: +0.8%,
China’s Shanghai Composite: +0.5%,
India’s Sensex: +0.6%,
South Korea’s Kospi: +0.9%,
Australia’s ASX All Ordinaries: +0.1%.China’s Manufacturing PMI remained in contraction in the July reading while Non-Manufacturing PMI decelerated for the fourth consecutive month.
China’s July Manufacturing PMI 49.3 (expected 49.2; last 49.0) and Non-Manufacturing PMI 51.5 (expected 52.9; last 53.2)
Japan’s June Industrial Production 2.0% m/m (expected 2.4%; last -2.2%).
June Retail Sales 5.9% yr/yr, as expected (last 5.8%),
Large Retailers’ Sales -0.4% m/m (expected 0.2%; last 1.4%).
June Construction Orders 8.6% yr/yr (expected 7.6%; last 4.2%),
June Housing Starts -4.8% yr/yr (expected -0.2%; last 3.5%),
July Household Confidence 37.1 (expected 36.0; last 36.2)Australia’s June Housing Credit 0.2% m/m (last 0.3%)
Private Sector Credit 0.2% m/m (last 0.4%).
July MI Inflation Gauge 0.8% m/m (last 0.1%)The Reserve Bank of Australia is expected to announce a 25-bps rate hike tomorrow.
Hong Kong’s Q2 GDP -1.3% qtr/qtr (expected 1.0%; last 5.3%); 1.5% yr/yr (expected 3.6%; last 2.7%)
Singapore’s Q2 Business Expectations 6.0 (expected -8.9; last 2.0)
New Zealand’s July ANZ Business Confidence -13.1 (last -18.0)
Major European indices trade near their flat lines while France’s CAC (+0.6%) and Italy’s MIB (+0.6%) outperform.
STOXX Europe 600: +0.1%,
Germany’s DAX: +0.1%,
U.K.’s FTSE 100: UNCH,
France’s CAC 40: +0.6%,
Italy’s FTSE MIB: +0.6%,
Spain’s IBEX 35: -0.2%.Eurozone’s Q2 GDP 0.3% qtr/qtr (expected 0.2%; last 0.0%); 0.6% yr/yr (expected 0.5%; last 1.1%).
July CPI -0.1% m/m (expected 0.3%; last 0.3%); 5.3% yr/yr, as expected (last 5.5%).
July Core CPI -0.1% m/m (expected -0.5%; last 0.4%); 5.5% yr/yr (expected 5.4%; last 5.5%)Germany’s June Retail Sales -0.8% m/m (expected 0.2%; last 1.9%); -1.6% yr/yr (expected -2.7%; last -2.1%).
June Import Price Index -1.6% m/m (expected -0.7%; last -1.4%); -11.4% yr/yr (expected -10.7%; last -9.1%)BoE Consumer Credit GBP1.661 bln (expected GBP1.300 bln; last GBP1.090 bln)
Italy’s GDP contracted 0.3% qtr/qtr in the flash reading for Q2 against expectations for no change.
Italy’s Q2 GDP -0.3% qtr/qtr (expected 0.0%; last 0.6%); 0.6% yr/yr (expected 0.9%; last 1.9%). June non-EU trade surplus EUR9.45 bln (last surplus of EUR4.44 bln).
July CPI 0.1% m/m, as expected (last 0.0%); 6.0% yr/yr (expected 6.1%; last 6.4%)
Italy’s Defense Minister Crosetto said during a weekend interview that the 2019 decision to join the Belt and Road Initiative was “improvised and atrocious.”U.K.’s July Mortgage Lending GBP140 mln (expected GBP100 mln; last -GBP90 mln).
BoE Consumer Credit GBP1.661 bln (expected GBP1.300 bln; last GBP1.090 bln)The British government is granting 100 new licenses for oil & gas extraction in the North Sea.
Spain’s May Current Account surplus EUR3.99 bln (expected surplus of EUR3.19 bln; last surplus of EUR1.84 bln)
Johnson & Johnson (JNJ 171.64, -2.84, -1.6%): lower on report US judge rules against resolving talc claims in bankruptcy, according to Reuters
Wal Mart (WMT 160.14, +0.23, +0.1%): aiming to spend $1.4 bln to buy out a large investor in Flipkart, according to WSJ
Hasbro (HAS 64.11, +2.11, +3.4%): upgraded to Buy from Neutral at Bank of America
Adobe (ADBE 542.63, +13.76, +2.6%): upgraded to Overweight from Equal Weight at Morgan Stanley
Carvana (CVNA 43.73, -0.29, -0.7%): downgraded to Underperform from Hold at Jefferies
Chevron (CVX 161.38, +2.51, +1.6%): upgraded to Buy from Neutral at Goldman Sachs
Salesforce (CRM 222.13, -3.47, -1.5%): downgraded to Equal-Weight from Overweight at Morgan Stanley
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