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Wednesday May 1, 2013 - 05:29:57 GMT
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| | Email Asian Market Update: Nikkei225, Australia market down; China manufacturing unexpectedly slips***Economic Data*** - Source

(CN) CHINA APR MANUFACTURING PMI: 50.6 V 50.7E (7th month of expansion) - (JP) JAPAN MAR LABOR CASH EARNINGS Y/Y: -0.6% V -1.2%E (2nd straight decline) - (KR) SOUTH KOREA APR EXT TRADE BALANCE: $2.6B V $3.6BE - (AU) AUSTRALIA APR AIG PERFORMANCE OF MANUFACTURING INDEX (PMI): 36.7 V 44.4 PRIOR (15th straight month of contraction; 4-year low) - (AU) AUSTRALIA APR RPDATA-RISMARK HOUSE PX ACTUAL: -0.5% V +1.3% PRIOR (first decline in 4 months) - (KR) SOUTH KOREA APR CONSUMER PRICE INDEX (CPI) M/M: -0.1% V +0.2%E, Y/Y: 1.2% V 1.5%E; CORE CPI Y/Y: 1.4% V 1.5% PRIOR - (US) API PETROLEUM INVENTORIES CRUDE: +5.2M V +1ME; GASOLINE: -2.7M V -0.5ME; DISTILLATE: -1.1M V +0.5ME; UTILIZATION: 85.4% V 85.7% W/W - (AU) AUSTRALIA MAR HIA NEW HOME SALES M/M: +4.2% V -5.3% PRIOR - (TH) THAILAND APR CONSUMER PRICE INDEX M/M: 0.2% V 0.4%E; Y/Y: 2.4% V 2.8%E; CORE CPI Y/Y: 1.2% V 1.3%E - (ID) INDONESIA APR HSBC-MARKIT MANUFACTURING PMI: 51.7 V 51.3 PRIOR - (ID) INDONESIA MAR TOTAL TRADE BALANCE: +$300M V -$330M PRIOR - (ID) INDONESIA APR INFLATION M/M: -0.1% V 0.6% PRIOR; Y/Y 5.6% V 5.7%E; CORE Y/Y: 4.1% V 4.2%E - (MX) MEXICO MAR YTD BUDGET BALANCE (MXN): 40.2B V 53.8B PRIOR ***Markets Snapshot (as of 03:30 GMT)*** - Nikkei225 -0.2% - S&P/ASX -0.3% - Kospi closed - Shanghai Composite closed - Hang Seng closed - Jun S&P500 flat at 1,592 - Jun gold +0.1% at $1,474/oz - Jun Crude Oil -0.5% at $93.04/brl ***Observations/Insights*** Asian stocks retreated as manufacturing activity data out of China unexpectedly fell. The official Purchasing Managers' Index (PMI) came in above the 50-level mark at 50.6, but less than the expected 50.7, as new export orders fell to 48.6 against the prior month's reading of 50.9. With most of the Asian markets closed there was moderate reaction following the release of China's PMI. Australia's S&P/ASX index pared initial losses following the factory data, while the Nikkei225 declined for the third consecutive day on the heels of continued JPY strength. With thin trading volumes and the lack of fresh catalysts, traders will be looking ahead toward central bank policy updates from the US and the eurozone, as well as the release of thet US jobs data. ***Fixed Income/Commodities*** - JGB: (JP) Japan MoF sells 2.19T in 0.6% (0.6% prior) 10-yr notes; Avg yield: 0.597% v 0.553% prior; Bid to cover: 3.71x (**highest since Dec 2012) v 3.22x prior - SLV: iShares Silver Trust ETF daily holdings rise to 10,452 tons from 10,407 tons (highest since Apr 11) - GLD: SPDR Gold Trust ETF daily holdings fall by 2.1 tons to 1,078.5 ton lowest since 1,077.6 in Sept of 2009) - (AU) Australia MoF (AOFM) sells A$600M in 4.75% 2027 Bonds; Avg yield 3.4348%; Bid-to-cover 3.96x ***Speakers/Political/In the Papers*** - (AU) Australia Treasurer Swan: Australians will share the burden of lower tax revenue through lower govt spending - (AU) Australia RBA Assistant Gov Edey: Regulatory arrangements served Australia well - press conf - (NZ) New Zealand Apr new property listing m/m: -21%; stock of unsold houses m/m: -1% - Realestate - (JP) Japan full participation in TPP free-trade talks in July not likely - Japanese press - (JP) Nikkei News reports Japan top eight utility firms post FY12/13 pretax loss of 1.3T -20% y/y - (JP) Rising mortgage rates in Japan may result in a surge in property buyers, particularly as shoppers seek to avoid higher sales tax set to increase in Apr 2014 - Nikkei News - (KR) South Korea Trade Min Yoon: To expand lending program for exporters; can achieve 2013 4.1% export growth ***Equities*** - AUY: Reports Q1 $0.16 v $0.21e, R$534.9M v $559.7M y/y; -2.0% afterhours - WU: Reports Q1 $0.37 v $0.33e, R$1.33B v $1.36Be; -0.3% afterhours - QCOR: Reports Q1 $0.76 v $0.97e, R$135.1M v $154Me; -3.6% afterhours - FLEX: Reports Q4 $0.13 v $0.13e, R$5.30B v $5.41Be; -0.8% afterhours - DWA: Reports Q1 $0.07 v -$0.03e, R$134.6M v $113Me; +7.1% afterhours - BGC: Reports Q1 $0.23 v $0.33e, R$1.53B v $1.59Be; -7.3% afterhours - QAN.AU: Reports prelim Mar passenger figures +2.1% y/y - AQG.AU: Reports Q1 gold production 98.4K oz, -2% y/y - TLS.AU: Reaffirms FY13 guidance for FCF at A$4.75-5.25B; Capex at about 15% of sales; EBITDA at "low single digit growth" - MediaTek 2454.TW: Reports Q1 Pretax NT$3.9B v NT$4.0Be, Op profit NT$3.1B v NT$3.0Be - Woori WF: Reports Q1 Net KRW213.7B v KRW664.8B y/y - S-Oil 010950.KR: Reports Q1 net KRW147.2B v KRW315.8B y/y - Industrial Bank of Korea 024110.KR: Reports Q1 Net KRW274.9B, - 40.5% y/y - Sharp 6753.JP: May report FY12/13 Net loss 500B, worse than 450B loss forecasted on Feb 1st - Kyodo News - Tokyo Electric 9501.JP: To consolidate units to lower costs; expected to save approx 700M/yr - Japanese press - Ajinomoto 2802.JP: May report FY12/13 pretax profit just above 76.5B, 2nd consecutive year of record but just shy of 76.5B prior forecast; Op profit seen just below 72B v 73.5B prior forecast - Nikkei News


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