Asian equity markets are marginally in the green in spite of selling pressure in the US on Friday and subsequent weekend release of disappointing China retail, industrial output, and fixed asset investment on Saturday. After opening lower, Shanghai Composite is up slightly in the afternoon session as PBoC released a statement assuring that disappointing New Loans and Money Supply figures out on Friday will be reversed. Risk-on was also more visible among FX majors. After falling below 108.50, USD/JPY rallied to 108.90. China retail sales fell to an 11-month lows and industrial output was much lower than expected at 6.0%, as the key power generation component returned to negative at -1.7% v +4.0% prior. China, rail stocks are firmer after reports that regulators could reduce requirements for city-size urban rail transit to facilitate infrastructure investment. In Japan, Sentiment was also bolstered by renewed speculation about the delay of Japan sales tax increase in a Nikkei report on Friday, even though cabinet spokesperson Suga has once again played down those rumors. Energy stood out in the commodity space as June WTI crude oil spiked up 1.5% to $47/brl, matching Friday's highs. Traders are monitoring political upheaval in Venezuela as well as oil delta sabotage in Nigeria impacting supply.
Nikkei +0.19% Hang Seng +1.05% CSI +0.20% Shanghai +0.21%
Eur$ 1.1310 CNH 6.5511 CNY 6.5261 JPY 108.74 GBP 1.4358 CHF 0.9764 RUB$ 64.9395 WTI$ 46.83 +1.34%
S&P +0.09% EuroStoxx -0.25% Daxclosed SMI Closed FTSE -0.27%
Macro :
- France 2016 Economic Growth May Exceed EU Forecast: Moscovici
- Italy’s Four Rescued Banks Received Non-Binding Bids
- Germany’s Minimum Wage to Rise 3.2% in 2017: Bild
- Greece Needs Economic Stability, Dombrovskis Tells Kathimerini
- Over 300 Business Leaders Call for Brexit in Letter: Telegraph
Keep an eye on :
- ADS GY : Adidas’s Landau Says Co. Aims for ‘2-Digit’ Profit Margin: FAS
- AI FP : FTC Requires Air Liquide, Airgas to Divest Assets for Approval
- AAPL US : Uber China Rival Didi Said to Consider New York IPO in 2017
- DBK GY : Germany Clears Deutsche Bank Employees in Libor Scandal: Spiegel
- EDF FP : EDF Faces Bugey Nuclear Plant Probe After Swiss Complaint: AFP
- EDF FP : Electricite De France Cut to A by S&P; Outlook Negative
- EDF FP : China General Nuclear Denies Sole Plans for Hinkley Point: Rtrs
- GFS LN : G4S Plans to Operate Mobile Banking Units in U.K., Europe: FT
- KNEBV FH : Kone Wins Order for 33 Elevators, 21 Escalators in China
- KCR1V FH : Terex Said in Talks to Sell Unit to Konecranes as Chinese Circle
- MC FP : LVMH’s TAG Heuer to Open Silicon Valley Office: Le Temps
- NESN VX : Nestle Nutrition does not rule out acquisitions
- NOVN VX : Novartis: Ultibro Breezhaler Shown Superior to Corticosteroid
- PRS SM : Prisa Says Price Set for DTS Sale to Telefonica at EU724.6M
- RCS IM : Bonomi May Be Studying RCS MediaGroup Bid: Sole 24 Ore
- RR/ LN : U.K. to Ask Rolls-Royce to Cut Fees in Jet Contract: Telegraph
- RYA LN : +ve article in the BArron's
- SAN FP : Facebook Said to Start Talks With Music Labels on Licensing: NYP
- SRS IM : Italian Refiner Saras Signs Crude-Supply Deal With Iran
- TEF SM : O2 CEO Dunne Exploring GBP8.5b Management Buyout: Telegraph
- TSCO LN : Tesco CEO Says Online Retailer Tax Advantage a Problem: Observer
- TEVA IT : Novartis, Mylan, Cinven, Apollo Global interested in Teva drug portfolio in Iceland, Britain and Ireland - Price tage could be up to $2bil - Ha'aretz
- TNTE NA : FedEx now owns 88.4% of TNT Express shares, announced both companies in a joint press release.
- UBSN VX : UBS Names New Co-Heads of Americas Financial Institutions Group
- VIV FP : Uber China Rival Didi Said to Consider New York IPO in 2017
- VOW3 GY : Volkswagen Pays Contract Employees EU3,950 in Profit Sharing
- VOW3 GY : Volkswagen to Halt Brazil Production on Lack of Seats: Estado
- VOW3 GY : Norway Fund Says Will Seek to Join Class Action Against VW