Mixed-stock exchanges seen in Asia after losses on Wall Street
Asian Market Update: Mixed equity trading seen in Asia after losses on Wall St, US equity FUTs edged up; WTI is also rebounding; China RRR in focus.
– Hang Seng fell> 1.4%; HK TECH Index Down> 2% Due to Concerns Over US delisting; Evergrande has stated that there is no guarantee that the Group will have sufficient funds to continue to meet its financial obligations.
– Shanghai Composite outperformed and traded slightly higher; Real estate and financial indices rise amid RRR talks, China’s 10-year yield drops more than 4 basis points.
– Nikkei reversed the opening gain; Softbank Group continues to hit 52 week lows.
– Reduced drop of the S&P ASX 200; The energy and basic consumption indices are increasing.
– US Natural Gas FUTs fall by more than 6%.
– RBA is due to meet on Tuesday December 7th.
– Taiwan Semi may report monthly sales later this week.
Titles / Economic data
Australia / New Zealand
–The ASX 200 opened -0.3%.
– (AU) Australia Treasurer Frydenberg: will raise economic forecasts in the next mid-year budget update; The market is coming back strongly.
– MTS.AU S1 reports (A $) Net 146.6 M against 129.6 M y / y; Underlying EBIT 231.2 M against 203.0 M y / y; Rev 7.15B v 7.1B y / y.
– (NZ) NEW ZEALAND T3 VOLUME OF ALL BUILDINGS T / T: -8.6% V -13.0% E.
– (NZ) Reserve Bank of New Zealand (RBNZ) Dep Gov Bascand: Low net migration figures could slow house price growth; If house prices cool faster than expected, it could affect the Reserve Bank of New Zealand’s forecast of a rapid interest rate hike next year – FT.
–Nikkei 225 opened + 0.1%.
– (JP) Japan PM Kishida: will maintain a cautious stance on coronavirus policy; Fiscal health depends on economic growth.
– 6502.JP Some shareholders have reportedly started to put pressure on the board of directors again to renew the buyout negotiations – Press.
– 6502.JP Says he turned down several offers to focus on the co-press split.
– (JP) According to a recent Yomiuri poll, the approval rate of the Japanese cabinet is 62% compared to 56% in November.
– (JP) Japan PM Kishida: will maintain a cautious stance on coronavirus policy; Fiscal health depends on economic growth, will take swift action, including limiting activities if COVID cases resume.
–Kospi opened -0.5%.
– (KR) South Korea PM: South Korea will focus on containing the new variant of the Omicron coronavirus by increasing anti-coroanvirus measures – Yonhap.
China / Hong Kong
–Hang Seng opened -1.5%; Shanghai Composite opened + 0.2%.
– 2608.HK announces default on December 5, 2021, senior bonds have not been notified by creditors, have liquidity problems, pressure on Chinese real estate leads to default.
– 2202.HK reports that November contracted sales of properties CNY43.2B against CNY57.5B y / y.
– (CN) The Chinese PBOC fixes the benchmark rate of the yuan: 6.3702 against 6.3738 previously.
– (CN) Chinese lenders’ loans to the real estate sector of the economy increased quarter-on-quarter and about CNY200 billion year-on-year.
– (CN) China PBOC Open Market Operation (OMO): sells CNY10B in 7-day reverse repurchase agreements against CNY10B previously; Net drain CNY90B v Net drain CNY90B before.
– (CN) China Sec Daily: China could reduce the RRR as early as December, quotes a brokerage firm.
– (CN) US Secretary of Defense Austin worries about the scale and frequency of military incursions from Beijing near Taiwan – FT.
– (HK) Hong Kong IPOs in December, which were expected to rebound, are off to a rocky start. The Chinese tourist group Duty Free has suspended its offer and SenseTime has increased less than initially indicated.
– Hon Hai Precision, 2317.TW Reports Nov (NT $) Rev 621.7B -8.8% y / y.
– (SG) The Central Bank of Singapore (MAS) is warning the financial sector that asset quality may be under pressure from the economic impact of the COVID wave and the larger than expected tightening in global financial conditions.
– (US) State Security Blinken warns China that any attempt to invade Taiwan would have “terrible consequences” – press.
– (US) NIH’s Fauci said the Biden administration was considering lifting travel restrictions on non-nationals entering the US from several African countries, said it would be able to lift the ban within a very reasonable time – US media.
– JNJ Johnson & Johnson COVID-19 Booster (Ad26.COV2.S), administered six months after the two-dose regimen of BNT162b2, shows a substantial increase in antibody and T cell responses.
– (US) President Biden will have a video call with Russian Prime Minister Putin on Tuesday, December 7.
– (CN) US not expected to announce any officials to attend Beijing 2022 Winter Olympics this week – Press.
– 9988.HK Appoints Deputy CFO Toby Xu as CFO, effective April 1, 2022; CFO Maggie Wu resigns.
– (CN) Chinese Premier Li: to reduce the RRR at the right time (Friday morning in the United States).
– (UK) UK has announced the start of a trial on a border of ‘smart customs’ to reduce friction in trade, asks companies to submit bids to the pilot program – FT.
Levels from 00:15 ET
– Hang Seng -1.4%; Shanghai Composite + 0.1%; Kospi + 0.4%; Nikkei225 -0.3%; ASX 200 + 0.1%.
– Equity Futures: S & P500 + 0.5%; Nasdaq100 + 0.1%, Dax + 0.7%; FTSE100 + 0.6%.
– 1.1314-1.1286 euros; 113.08-112.86 JPY; AUD 0.7027-0.6997; 0.6761-0.6744 NZD.
– Commodity Futures: Gold -0.1% at $ 1,782 / oz; Crude oil + 2.3% to $ 67.78 / brl; Copper + 0.3% at $ 4.29 / lb.