Asian equity markets are generally in the red, though volumes are light with mainland China, Hong Kong, Taiwan, and Singapore closed for holiday. Nikkei225 is leading the declines with a catch-up slump, since Tokyo trade was closed on Friday. USD/JPY continued to crater to fresh 18-month lows, falling below ¥106.20 and further pressuring Japan exporters. Nikkei225 futures contract is now down 8.5% from the levels just before the BOJ shocked the markets with a rate hold late last week. China official PMIs were a mixed bag - both were down slightly from March levels but remained in expansion. Among key manufacturing components, new export orders matched the headline with 50.1 v 50.2 m/m, employment continued to dive at 47.8 v 48.1 m/m, but input prices hit multi-month highs of 57.6 v 55.3 m/m. In another positive sign for commodities, inventories of raw materials fell to a 5-month low of 57.6 v 55.3 m/m, portending a potential peak in oversupply. Japan Final manufacturing PMI of 48.2 was only slightly better than 48.0 preliminary. Markit economist said the Output component with especially weak, registering the biggest rate of decrease in 2 years.
Nikkei -3.34% Hang Seng Closed Shanghai Closed
Eur$ 1.1466 CNH 6.4832 CNY 6.4780 JPY 106.46 GBP 1.4613 CHF 0.9590 RUB$ 64.6862 WTI$45.52(-0.87%)
S&P Unch EuroStoxx+0.34% Dax +0.21% SMI +0.06% UK Closed ClosedSouth Africa Closed Russia Closed Greece
Macro :
- Greece Said to Agree With Creditors on NPLs Sale: Ekathimerini
- China April Manufacturing PMI 50.1; Est. 50.3
- China Expresses Concern Over Frequency of U.S. Steel Probes
- Italy Cabinet Approved Decree for Banks, Premier Renzi Says
- ECB’s Coeure Says Abandoning Inflation Goal Not an Option: FAS
Keep an eye on :
- AF FP : Air France-KLM Board Chooses Janaillac as New CEO, Chairman
- AXP US : Munger Warns of Danger Facing AmEx While Buffett Affirms Support
- ADP FP : ADP 1Q Rev. Rises 1.8%, Buoyed by International, Property Units
- APOL US : Apollo Education Gets Increased $10-Shr Offer From Consortium
- AZN LN : Allergan Gets FDA Approval for First Generic of Astra’s Crestor
- AAPL US : Apple Eyes Battersea Power Station for London HQ: Sunday Times
- BHI US : Halliburton, Baker Hughes Abandon $28 Billion Merger Agreement
- BPI IM : Banco Popolare, Pop. Milano to Present Plan to ECB May 16: Sole
- BWO AV : Buwog to Invest EU430m in Property Project in Hamburg
- VCH SW : Swiss Retailer Charles Voegele Held Merger Talks with Adler: SaS
- CO FP : Michel Klein seeks to buy back control of Viavarejo from Pao de Acucar - O Globo
- 1COV GY : Covestro to Make Acquisitions W/ Existing Debt: Euro Am Sonntag
- DBK GY : Deutsche Bank Financial-Crime Controls Faulted by U.K. FCA: FT
- EDF FP : France Issues Decree Allowing Merger of Hydropower Concessions
- ENGI FP : Engie Debt Rating Cut to A- From A at S&P; Outlook Negative
- FER SM : Broadspectrum Investor Allan Gray to Accept Ferrovial Bid, Ferrovial Says Reaches 59% of Broadspectrum; Offer Extended
- RMS FP : Barrons Article : Hermès Shares Could Rally as Sales Improve - http://bit.ly/1QGRDjz
- ISP IM : Intesa Sanpaolo Signs Deal to Sell Setefi
- LSE LN : Deutsche Borse Asked to Retract CEO Comment on LSE Merger
- MB IM : Mediobanca Weighs Leading Counteroffer on RCS: Repubblica
- MDVN US : AstraZeneca, Pfizer Said Among Firms Weighing Medivation Bid
- ORANW NA : Oranjewoud Says 2015 Revenue Rose 9% to EU2.31b; Skips Dividend
- PHIA NA : Philips Said Disappointed With Lighting Bids, Leaning Toward IPO
- RCS IM : Mediobanca Weighs Leading Counteroffer on RCS: Repubblica
- RNO FP : Renault Shareholders Approve Cap on French State’s Rights
- RNO FP : French Govt May Sell Renault, Safran Shrs This Year: FT
- SAB LN : SABMiller's Kompania Piwowarska may be sold - Portalspozywczy.pl
- SHP LN : Shire chief shrugs off shareholder protests - FT - http://on.ft.com/1rHmU1E
- SMIN LN : Pfizer in talks to sell USD 2bn pumps arm to Smiths; Smiths eyes asset sales - Sunday Times
- STL NO : Statoil Says Gullfaks B Output Will Be Halted as Long as Needed
- 7312 JP : U.S. to Expand Recall of Cars With Takata Air Bags: Nikkei
- TIT IM : Telecom Italia looking at 100% control of Metroweb, including Milan subsidiary
- TIT IM : Telecom Italia CEO says new sales procedure may be launched for Inwit - Il Sole
- TEF SM : Telefónica would consider other buyers for O2 - FT - http://on.ft.com/1SAQuPY
- VOW3 GY : VW Said to Balk at Qatar Getting Executive Committee Seat: Rtrs
- YHOO US : Yahoo Bidder Shortlist Includes Close to 10 Offers: Reuters