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Thursday January 2, 2014 - 06:12:44 GMT
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TradeTheNews.com Asian Market Update: China PMIs slip but remain in expansion; Hyundai Motors shares slump on soft 2014 outlook - Source TradeTheNews.com

- China official manufacturing PMI hits 4-month low, below consensus; HSBC final PMI is inline with consensus, marks 3-month low; Economists attribute overall declines to tight liquidity in December, but also note contraction in export orders (53.9 v 54.5 prior) indicative of softer external demand. - China State Information Center economist forecasting 2014 GDP at 7.5%, M2 +13%, industrial production at 9.3%, exports +9%, imports +7.5%. - North Korea's Kim Jong-Un hints he is prepared to improve relations with South Korea but also warns of "nuclear disaster" in event of war. - Australia House price index up nearly 10% for 2013 - highest rate of growth in 4 years. - South Korea's staples Samsung Electronics and Hyundai Motors sharply lower; Samsung down on after local press speculated Q4 op profits may miss forecasts, Hyundai down after forecasting 2014 vehicle sales up just 3.9% from 2013 - slowest growth in 10 years. ***Economic Data*** - (CN) CHINA DEC MANUFACTURING PMI: 51.0 V 51.2E (lowest in 4 months) >- (CN) CHINA DEC HSBC/MARKIT MANUFACTURING PMI: 50.5 V 50.5E (3-month low) - (AU) AUSTRALIA DEC AIG PERFORMANCE OF MANUFACTURING INDEX (PMI): 47.6 V 47.7 PRIOR (2nd month of contraction) - (AU) AUSTRALIA DEC RPDATA/RISMARK HOUSE PRICE INDEX: 1.4% V 0.1% PRIOR - (SG) SINGAPORE Q4 ADVANCED GDP Q/Q: -2.7% V -1.3%E; Y/Y: 4.4% V 4.8%E - (KR) SOUTH KOREA DEC TRADE BALANCE: $3.68 V $3.6BE; 2013 trade surplus $44.2B - record high - (KR) SOUTH KOREA DEC HSBC/MARKIT MANUFACTURING PMI: 50.8 V 50.4 PRIOR - (TW) TAIWAN DEC HSBC/MARKIT MANUFACTURING PMI: 55.2 V 53.4 PRIOR (4TH CONSECUTIVE EXPANSION) - (ID) INDONESIA DEC HSBC/MARKIT MANUFACTURING PMI: 50.9 V 50.3 PRIOR - (ID) INDONESIA DEC CPI M/M: 0.6% V 0.5%E; Y/Y: 8.4% V 8.3%E; CPI CORE Y/Y: 5.0% V 4.8%E - (VN) VIETNAM DEC HSBC/MARKIT MANUFACTURING PMI: 51.8 V 50.3 PRIOR - (SL) SRI LANKA CUTS REVERSE REPO RATE BY 50BPS TO 8.00% FROM 8.50%; LEAVES REPURCHASE RATE UNCHANGED AT 6.50% (EXPECTED) ***Fixed Income/Commodities/Currencies*** - (CN) PBoC won't conduct open market operations (OMO) in today's session; Drains CNY29B this week v injected CNY29B prior (first net drain in 3 weeks) - NZD/USD: (NZ) Westpac chief economist Stephens: NZD/USD likely to remain in mid $0.80s to low $0.90s range for most of 2014; Expects RBNZ to raise rates 5 times this year vs prior forecast of 4 times - NZ press - AUD and NZD gapped down at the open after the disappointing China official PMI data, falling below $0.8890 and $0.8190, before paring some of those losses. With Tokyo still closed, USD/JPY pair was little changed, trading sideways around 105.30. EUR/USD was at session lows late in the day, down over 30pips from the highs below $1.3750. Sterling outperformed amid press reports UK GDP may top prior estimates from the UK Treasury, rising over 40pips above $1.6590. ***Speakers/Political/In the Papers*** - (CN) China State Information Center: 2014 GDP may be 7.5%; 2014 PPI may decline 0.5% - Chinese press >- (CN) China to introduce draft policy on imported coal quality - financial press - (CN) According to a survey by China Real Estate Index System (CREIS), Dec home prices in the 100 largest cities rose 0.7% m/m and 11.5% y/y - financial press - (CN) China Foreign Ministry spokeswoman Hua: Both China and South Korea are indignant about Japan PM Abe's visit to Yasukuni shrine - (CN) PBoC Dep Gov Yi Gang: China to promote trade and investment conveniences - Qiushi - (CN) Industrial Bank Chief Economist Lu Zhengwei: China's economy to continue to "adjust" in 2014; Monetary policy in 2014 to be "generally the same" as 2013 - (CN) China state economist: 2014 consumption growth may reach 13-14%; total investment growth may reach 20% - Chinese press - (HK) Thousands of protesters marched in Hong Kong on New Years Day, demanding more say over how HK leaders are chosen - Chinese press - (JP) Japan PM Abe's New Year address indicating he may look to revise the constitutional limits on military use by 2020 - financial press - (JP) Japan Automakers Association Chariman Toyoda: Looking at 2014 as the turning point for recovery in Japan's economy - Nikkei - (JP) Japan Health Ministry: 2013 saw a record decline in Japan's population of 244K - financial press - (AU) Ports in Australia's Pilbara region resume normal loading operations; Only minor damage said to be sustained by Port Hedland from cyclone Christine earlier this week - press - (KR) Kookmin Bank: South Korea Dec housing price +0.4% y/y (2nd consecutive rise), +0.2% m/m (4th consecutive rise) - financial press - (KR) North Korea's Kim Jong-Un: Prepared to create atmosphere to improve relations with South Korea; Also warns Korean peninsula would be engulfed in massive "nuclear disaster" if war breaks out - (UK) According to a poll from economists, UK 2014 economy's growth rate seen close to 3% v 2.4% forecasted by UK treasury last month - FT ***Equities*** Market Snapshot (as of 04:30 GMT): - Nikkei225 closes, S&P/ASX +0.5%, Kospi -1.8%, Shanghai Composite -0.4%, Hang Seng -0.3%, Mar S&P500 +0.3% at 1,846, Feb gold +1.6% at $1,222, Feb crude oil +0.3% at $98.67/brl US markets: - AMGN: Romosozumab Phase 2 Data Published In New England Journal Of Medicine Show Significant Increases In Bone Mineral Density At Both Spine And Hip Notable movers by sector: - Consumer discretionary: Anhui Saunaking 300247.CN +10.0%, Zhejiang Double Arrow Rubber Co Ltd 002381.CN +6.0%, Shanghai Sanmao Enterprise Group Co Ltd 600689.CN +1.1% (China issues statement on pension services) - Industrials: Hyundai Motor 005380.KR -4.7%, Kia Motor 000270.KR -5.9% (2014 sales targets); CSR Corp 1766.HK +0.6% (awarded orders) - Financials: Lander Real Estate 000558.CN +9.9% (acquisition); Insurance Australia IAG.AU +0.4% (announces shares purchase plan) - Materials: Yunnan Lincang Xinyuan Germanium Industrial 002428.CN +4.5% (awarded contract) - Healthcare: Beijing Tiantan Biological Products 600161.CN -4.9% (company's vaccine could cause death) - Energy: Woodside Petroleum WPL.AU -0.8% (Shell may sell stake) - Technology: Ourpalm 300315.CN +4.9% (tax rate adjusted); Shenzhen Changfang Light Emitting Diode Lighting 300301.CN +10.0%, Guangzhou Hongli Opto-Electronic 300219.CN +7.7%, Everlight Electronic 2393.TW +6.1%, Epistar Corp 2448.TW +4.0% (US federal bans incandescent light bulbs, as expected) - Utility: CT Environmental Group 1363.HK +10.6% (receives approval for project) - Source TradeTheNews.com

 

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Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

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Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



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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
Thu 23 Nov
US/JP- Holiday
All Day flash PMIs
13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes

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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
  • POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
  • POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release


John M. Bland, MBA
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EXCLUSIVE: Global-View Daily Trading Chart Points Updated

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