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Thursday April 18, 2013 - 06:34:40 GMT
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TradeTheNews.com Asian Market Update: Markets weaker as concerns on global growth move to the forefront; China house prices continue to rise***Economic Data*** - Source TradeTheNews.com

- (CN) CHINA MAR NEW HOME PRICES M/M: ROSE IN 68 OF 70 CITIES VS 66 PRIOR; Y/Y: PRICES ROSE IN 68 OF 70 CITIES VS 62 PRIOR - (JP) JAPAN MAR MERCHANDISE TRADE BALANCE TOTAL: -362.4B V -522.2BE; ADJUSTED MERCHANDISE TRADE BALANCE:-922.0B V -934.5BE; FY12/13 Trade Deficit at 8.17T (record high) - (CN) CHINA MAR ACTUAL FOREIGN DIRECT INVESTMENT (FDI) Y/Y: 5.7% V 1.9%E - (JP) Japan investors sold net 331.9B in Foreign Bonds last week vs sold net 1.14T prior week; Foreign Investors bought net 1.57T in Japan stocks last week (record) vs bought net 868.6B in prior week - (BR) BRAZIL CENTRAL BANK (COPOM) RAISES SELIC TARGET BY 25 BPS TO 7.50%; AS EXPECTED, first hike in almost two years - (AU) AUSTRALIA MAR RBA FOREIGN EXCHANGE TRANSACTIONS (A$): 577M V 328M PRIOR - (AU) AUSTRALIA Q1 NAB BUSINESS CONFIDENCE: +2 V -5 PRIOR (first rise in 5 quarters) - (NZ) NEW ZEALAND APR ANZ CONSUMER CONFIDENCE INDEX: 119.2 V 114.8 PRIOR; ANZ CONSUMER CONFIDENCE: +3.8% V -5.1% PRIOR - (NZ) NEW ZEALAND MAR ANZ NZ JOB ADS M/M: 0.7% V 1.8% PRIOR - (JP) JAPAN MAR TOKYO CONDO SALES Y/Y: +48.4% V 10.7% PRIOR - (KR) SOUTH KOREA FEB DISCOUNT STORE SALES Y/Y: -4.4% V +8.9% PRIOR; DEPARTMENT STORE SALES Y/Y: 7.5% V 1.7% PRIOR ***Markets Snapshot (as of 03:30 GMT)*** - Nikkei225 -0.4% - S&P/ASX -0.8% - Kospi -0.6% - Shanghai Composite -0.2% - Hang Seng -0.1% - June S&P500 +0.1% at 1,547 - Jun gold -1.6% at $1,362/oz - May Crude Oil -0.1% at $86.55/brl ***Observations/Insights/Currencies*** Asian markets started the trading session lower as concerns over global growth weighed in on investor sentiment following broad declines on Wall Street led by weak US financials and Apple's fall. Japanese exports rose in March exceeding analyst's estimates. Exports to Asia rose for the first time in two months. Exports to Europe declined for the 18th straight month at 4.7%. The trade balance reported a shortfall for the ninth consecutive month, though the gap was narrower than -522.2B expected and less than the -777.5B reported last month. Imports rose 5.5%, less than the 11.9% reported in Feb, but continued to grow strongly due to a weaker yen. Overall, Japan reported a record high trade deficit of 8.17T for FY12/13. Chinese markets were briefly in positive territory following the release of positive economic data. Home prices in China gained as the March housing data showed demand remained strong including the major cities. China new home prices for the month rose in 68 of 70 cities, the largest since September of 2011 higher. Shanghai and Beijing also led gains in existing home prices. China Foreign Direct Investment (FDI) showed flows into the country increased by 5.7% to $12.4B, much better than the expected 1.9%. ***Fixed Income/Commodities/Currencies*** - (JP) Japan's MoF sells 1.10T 20-yr 1.5% JGBs; Avg yield: 1.522% v 1.623% prior; bid-to-cover: 3.68x v 3.11x prior - GLD: SPDR Gold Trust ETF daily holdings fall by 11.1 tons to 1,134.8 ton (lowest since 1,130.7 in Apr of 2010) - (CN) China Finance Ministry to auction CNY30B 10-yr bonds on Wednesday - (CN) PBoC to auction CNY40B 6-month Ministry of Finance (MOF) deposits at banks on April 23rd - Chinese press ***Speakers/Political/In the Papers*** - (JP) G-20 to call for competitive devaluation to be avoided - Asahi - (JP) Canada, Australia state that TPP free-trade discussions should include all items - Japanese press - (JP) Japan to maintain North Korea missile intercept order in July - Japanese press - (JP) BOJ expected to raise its forecast for consumer price growth; Said to aim to achieve 2% inflation target as early as Spring 2015 as part of its coming policy statement next week (Apr 26th) - Nikkei News - (JP) Several Chinese Navy ships have been patrolling waters around the disputed Senkaku/Diaoyu islands in the past few days - Shanghai Daily - (JP) Indonesia failed to lower import duties on Japan autos per trade agreement - Japanese press - (CN) China regulators investigates abnormal trading data at Shenzhen stock exchange - Chinese press - (CN) China former vice Commerce Minister: China should speed up free trade agreements - China Daily - (CN) BNP Paribas: Cut China 2013 GDP outlook to 7.9%, Raised 2014 GDP to 8.1% - (CN) China PBOC's Vice Gov Yi: Expecting China to increase the FX trading band more in the short term; FX rates expected to be more market oriented - (CN) China Center for Disease Control and Prevention testing for possible human-to-human transmission of H7N9 bird flu - Chinese press - (CN) China Commerce Ministry (MOFCOM) spokesperson Shen: Export recovery in Q1 showing that stabilizing policy is effective - financial press - (KR) North Korea's National Defense Commission seeking for UN to withdraw sanctions - financial press - (KR) North Korea say it will not engage in dialogue if military drills by South Korea continue - Korean press - (KR) South Korea extra budget can be increased by parliament - Korean press - (US) US officials report arrest has been made regarding ricin tainted mailings - financial press - (US) US President Obama: Minority in the Senate preventing gun reforms - press conf - (US) Treasury Sec Lew: China moves on FX appear to have slowed; US at the G20 will call on steps for countries to avoid 'beggar thy neighbor' policies - (RU) Russia Dep Fin Min: G20 to agree on new commitments to fiscal consolidation sometime in 2013 - financial press - (ES) Spain Dep Prime Min Saenz: Public finances are still delicate, Govt considering raising a challenge to the mortgage law in Andalusia - (EU) IMF's Lagarde: Euro zone still going through fiscal consolidation process - (IT) Italy PD party confirmed selection of former Senate speaker Franco Marini as presidential candidate - Italy press - (DE) Egan Jones lowers Germany sovereign rating one notch to A from A+; outlook Negative ***Equities*** - FMG.AU: Reports Q3 Iron Ore production: 25.3MT v 16.7MT q/q; Iron ore shipments 20.2M tons, +3% q/q, +60% y/y; Affirms on track to reach FY13 155M tons production - WPL.AU: Reports Q1 Rev $1.45B v $1.77B y/y; Reports Q1 production 21.9Mmboe v 14.1Mmboe y/y; Affirms FY13 output at 88-94MMboe - BOQ.AU: Reports H1 Net profit A$100.5M v loss A$90.6M y/y; Rev A$415.0M v A$396.6M y/y - Hyundai 009540.KR: South Korea's top shippers expected to post deteriorating profits in Q1 amid weakening demand for new ships - Korean press - Ikyu 2450.JP: May increase annual dividend to approx 3,000 vs 1,300 prior guidance - Nikkei News - United Arrows 7606.JP: May report FY12/13 Op profit 12B, Rev 115B - Nikkei news - Nisshinbo 3105.JP: May report FY12/13 Op profit 10B v 10B prior guidance, Rev 465B v 450B prior guidance - Nikkei News - VALE: Reports Q1 iron ore production 65.7M tons v 70.0M y/y v 85.5M q/q; maintains FY13 iron ore production guidance of 306M tons; +2.5% afterhours - NEM: Reports prelim Q1 gold production 1.165M oz, -11% y/y; copper 38M lbs, +9% y/y; Affirms FY13 gold and copper output targets; +0.5% afterhours - STLD: Reports Q1 $0.21 v $0.21e, R$1.80B v $1.79Be; -0.9% afterhours - SNDK: Reports Q1 $0.84 v $0.80e, R$1.34B v $1.32Be; Guides Q2 Rev $1.35-1.4B v $1.37Be; Raises FY13 Rev $5.6-5.75B v $5.76Be ($5.3-5.6B guided prior); +1.3% afterhours - EBAY: Reports Q1 $0.63 (adj) v $0.62e, R$3.75B v $3.78Be; -2.6% afterhours - AXP: Reports Q1 $1.15 v $1.11e, R$7.88B v $7.97Be; -0.2% afterhours - Source TradeTheNews.com

 

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Amazing Trader EVENT RISK Calendar:


Tue 21 Nov
15:00 US- Existing Homes Sales
23:00 US- Yellen Speech
Wed 22 Nov
13:30 US- Weekly Jobless
13:30 US- Durable Goods
15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
19:00 US- FOMC Minutes
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  • POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias


  • POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic

  • POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy


  • POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
  • POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
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