Japan retail sales rose sharply in the month of March as consumers stocked up with last-minute shopping ahead of the start of higher sales tax on April 1st. For the year, the 11% jump was the fastest pace of increase since March of 1997. USD/JPY tracked slightly lower in the wake of the beat, falling about 10pips toward ¥102. Stronger data incrementally raise the possibility of the BOJ maintaining a neutral stance for longer than the currently expected late-summer announcement of further QE. Note the BOJ will unveil its latest policy decision and updated outlook on economy and inflation this coming Wednesday. Separately in Japan, the typically fiscally conservative Fin Min Aso acknowledged corporate taxes may have to be lowered to maintain corporate competitiveness....China announced slightly improved Ytd growth in industrial profits. Subsequent reports indicated that only a handful of industries saw a profitable Q1, mainly auto manufacturing, power generation, and telecommunication equipment production...In Australia, shares of Goodman Fielder (GFF AU - Food Manuf.) spiked up nearly 20% after the company rebuffed a takeover proposal from Wilmar International, announcing the offer materially undervalues company...Eastern Ukraine situation continued to simmer this weekend, with tensions escalated by detainment of OSCE inspectors by the pro-Russian separatists. The rebels announced they could be seen as "prisoners of war" and demanded an exchange from the Kiev govt. G7 is said to be preparing another wave of sanctions to be unveiled as early as Monday that would target Russia's defense ministry and companies close to Putin. Pres Obama's NSA adviser Blinken once again ruled out assistance through weaponry, stating "it wouldn't make a difference in terms of their (Ukrainians) ability to stand up to the Russians."...Nikkei -1.2%...Hang Seng -0.30%...Shanghai -1.42%
Eur$ 1.3824 S&P Fut +0.08% European Fut +0.33%
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- PHIA NA : Philips to Sell Woox Innovations to Gibson Brands for $135m, Fee
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- ROG VX : Roche Wins EU Approval for Subcutaneous Formulation of Roactemra
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- SAN FP : Sanofi Says Dengue Study Achieved Primary Clinical Endpoint
- SBMO NA : SBM Offshore Aims for Investment Grade to Issue Bonds: Telegraaf
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- TKA AV : Telekom Austria May Lose Yesss! Distribution Deal: Profil Link
- TNET BB : Telenet Keeps Forecasts as 1Q Rev. Growth of 2.8% Misses Ests.
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- VIV FP : Vivendi Sale of Maroc Telecom Stake to Occur This Week: Figaro
- VIV FP : Etisalat to receive financing from UAE government-owned fund to purchase Vivendi's stake in Maroc Telecom