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Thursday January 19, 2012 - 06:54:09 GMT
Trade the News Staff - www.tradethenews.com/freetrial.asp?gv

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TradeTheNews.com Asian Market Update: Markets rally on better US data and IMF funding hopes

(AU) AUSTRALIA DEC UNEMPLOYMENT RATE: 5.2% V 5.3%E; EMPLOYMENT CHANGE: -29.3K V 10.0KE (8-month low); PARTICIPATION RATE: 65.2% V 65.5%E (multi-month low)
- (NZ) NEW ZEALAND Q4 CONSUMER PRICES (CPI) Q/Q: -0.3% V +0.4%E (1st decline since Q4 2009); Y/Y: 1.8% V 2.6%E
- (BR) BRAZIL CENTRAL BANK (COPOM) CUT THE SELIC TARGET BY 50BPS TO 10.50%; AS EXPECTED
- (AU) AUSTRALIA DEC RBA FOREIGN EXCHANGE TRANSACTIONS (A$): 737M V 330M PRIOR
- (AU) AUSTRALIA JAN INFLATION EXPECTATION: 2.8% V 2.4% PRIOR (3-month high)
- (UK) UK DEC NATIONWIDE CONSUMER CONFIDENCE: 38 V 38E
- (NZ) NEW ZEALAND JAN ANZ CONSUMER CONFIDENCE INDEX: 116.1 V 108.4 PRIOR; +7.1% V -0.6% PRIOR
- (NZ) NEW ZEALAND DEC ANZ JOB ADS M/M: -2.3% V 0.8% PRIOR
- (CN) CHINA DEC CONFERENCE BOARD LEADING ECONOMIC INDEX M/M: 0.7% V 0.5% PRIOR
- (JP) Japan investors bought ¥920B in foreign bonds last week v ¥386B bought in prior week
- (JP) JAPAN DEC TOKYO CONDOMINIUM SALES: 8.4% V 31.0% PRIOR
- (JP) Japan Dec Nationwide Department Store Sales y/y: 0.8% v -1.9% prior; Tokyo Department Store Sales y/y: 0.3% v -3.0% prior
- (IN) India Primary Articles WPI w/e Jan 7th Y/Y: 2.5% v 0.5% prior; Food Articles WPI Y/Y: -0.4 v -2.9% prior

***Markets Snapshot (as of 05:30GMT)***
- Nikkei225 +1.2%
- S&P/ASX -0.1%
- Kospi +1.1%
- Taiwan Taiex closed
- Singapore Straits Times Index +0.5%
- Shanghai Composite +0.5%
- Hang Seng +1.1%
- S&P Futures unchanged at 1,302
- Feb Gold +0.3 at $1,664/oz
- March Crude +0.8% at $101.36

***Overview/Top Headlines***
- Asian equity markets traded higher, Nikkei225 gained well over 1% to a 5-week high, on fresh hopes that the IMF would see a boost of funds to $600B that will help it address the EU crisis. US Treasury said that Europe must put up more of its own money and the IMF can't substitute for robust Euro-area firewall. Both Japan and Australia said they would support boosting IMF funding. Positive manufacturing data out of the US also assuaged fears that the US was continuing to slow down. Commodities were strong with both oil and copper gaining nearly 1% in the session. EUR/USD was against steady around the $1.250 level, talks in Greece continue with no resolution yet.

- Australia unemployment recorded its second month of decline, employment change came in at a surprising drop of 29.3K and 8-month low, participation rate also fell to a multi-month low at 65.2% which will support further rate cuts. AUD/USD fell to session low of $1.0378. NZD/USD fell over 40 pips to $0.8040 after weaker than expected CPI in Q4. q/q saw its first decline since Q4 2009 to -0.3%, y/y up 1.8% weaker than the 2.6% expected.

- According to a bank economist from China Industrial Bank, PBoC may conduct over CNY1T in reverse repo operations in January. Today the PBoC sold CNY183B in 14-day reverse repos 6.05% v 5.47% prior, brining the total to CNY352B in January.

***Speakers/Geopolitical/In the press***
- (HK) HKMA will monitor loan growth and risk management of local banks as a priority because it foresees a volatile year for financial institutions - HK press
- EUR/JPY: ECB's Nowotny: Understands Japan concerns over weak EUR; Still premature to suggest euro moves are one-sided - Nikkei News
- (JP) Japan Trade Min Edano: Will be very hard to get through the summer without nuclear power; No time frame for reactor restarts
- (US) US Treasury has started to use federal pension funds in order to expand US credit to cover debts - financial press

***Equities***
- LYC.AU: Malaysia Minister: Cabinet will decide on plant license after Atomic Agency meeting - financial press
- STO.AU: Reports Q4 Rev A$750M, +25% y/y; FY11 production 47.2MMBOE (-5% y/y) v 47-50MMBOE prior guidance; FY11 Rev A$2.53B, +14% y/y
- WPL.AU: Reports Q4 Rev $1.24B, +17% y/y; Production 16.6MMBOE v 16.1MMBOE q/q, -6% y/y; 2011 production 64.6MMBOE, -11% y/y v 62-64MMBOE prior forecast
- Tepco, 9501.JP: (JP) Japan Chief Cabinet Sec Fujimura denies press speculation that the govt will approve rate increase to households
- Epistar Corp, 2448.TW: Chairman: Volume of LED lighting to rise 3x in 2012; Sees company Rev in 2012 at NT$20B - DigiTimes
- Shenyin Wanguo, 218.HK: Attracted more than CNY100M in first week into a Hong Kong-based fund that will invest in mainland fixed income products and stocks - HK press


***US Equities***
- EBAY: Reports Q4 $0.60 v $0.57e, R$3.38B v $3.3Be; +2.4% after hours
- SLM: Reports Q4 $0.51 v $0.49e, R$711M v $711Me; -0.4% after hours
- XLNX: Reports Q3 $0.47 v $0.37e, R$511M v $499Me; +7.2% after hours
- ZZ: Reports Q4 -$0.14 v $0.01e, R$269M v $310Me; -13.6% after hours

***FX/Fixed Income/Commodities***
- (US) API PETROLEUM INVENTORIES CRUDE: -4.81M V +2.5ME (largest draw since Dec 6th); GASOLINE: +4.31M V +2.5ME; DISTILLATE: -900K V +1.5ME; UTILIZATION: 83.1% V 84.8% W/W
- JGB: Japan's MoF sells ¥2.3T in 0.3% (0.4% prior) 5-yr JGBs; Bid to cover: 4.37x v 2.96x prior
- USD/JPY: (JP) Japan Fin Min Azumi reiterates Japan will take decisive measures on any abrupt forex moves
- (CN) China Premier Wen: To consider proposal by Qatar to use nations' respective currencies in oil trade settlements - Chinese press
- (AU) Rabobank expects prices of cattle to be at record highs due to lower supply in 2012 - financial press


 

 

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