Asian equity markets mostly opened lower and maintained a more muted tone for the session following European markets' lead (US markets were closed for a holiday), as profit taking winds down and continued Brexit economic worries reign. Asian regional heads assure that any Brexit impact is expected to be short term, though investors do not seem assuaged. USD/JPY around 102.65, touch 102 level, put pressure on exporters, Sony -1%, Sharp -5% and Panasonic -0.5%. Japan 10-yr JGB auction saw a record low yield of -0.243%. There is little economic data out of Japan until later in the week. According to China Securities Journal reporter Ren Xiao, China is likely to fine tune monetary policy in H2 of the year, with targeted RRR cuts or possible across the board cuts if needed. Saying Chinese economic growth still faces relatively large pressure in H2 PBOC could deal with liquidity shortages through reverse repos and medium-term lending facilities.
Nikkei -0.78% Hang Seng -0.74% CSI +0.17% Shamghai +0.60%
Eur$ 1.1133 CNH 6.6818 CNY 6.6688 JPY 102.13 GBP1.3255 CHF 0.9715 RUB 64.0470 WTI$48.16 (-1.69%)
S&P -0.16% EuroStoxx -0.25% Dax -0.30% SMI -0.09%
Macro :
- Greece Asks China to Invest in Its Banks: Greek Govt Official
- Greek Bank Recapitalization Fund CEO to Step Down: Kathimerini
- German Savings Banks Boost Capital, Dividends: Boersen-Zeitung
Keep an eye on :
- ABN NA : ABN, ING, Swedbank, Danske, UBS Preferred After Brexit: Barclays
- AF FP : Air France-KLM New CEO Janaillac Says Seeks ‘Openness, Dialogue’
- ASC LN : Asos, Eni, Ferrovial, L&G, Philips Among New Longs at RBC for 3Q
- BMPS IM : Italy Considers Capital Package for Monte Paschi: La Stampa
- BNP FP : BNP Sees 2Q Post-Tax Gain of EU565m From Visa Europe Share Sale
- COFA FP : Coface Sees Net Loss Ratio of 63%-66% for 2016
- ENI IM : Asos, Eni, Ferrovial, L&G, Philips Among New Longs at RBC for 3Q
- RF FP : Partners Group Buys Foncia Together With Group of Investors
- HMB SS : H&M Chairman Stefan Persson Buys Further 1m Shares
- INGA NA : ABN, ING, Swedbank, Danske, UBS Preferred After Brexit: Barclays
- COX FP : Nicox Transfers Commercial Ops to Company Led by GHO Capital
- ORA FP : Orange Belgium CEO Harion Steps Down, May Transfer to Egypt Unit
- ORP FP : Orpea Buys Spanish Nursing Home Group Sanyres; Issues Debt
- PHIA NA : Asos, Eni, Ferrovial, L&G, Philips Among New Longs at RBC for 3Q
- RWE GY : RWE Demands 25% Salary Cuts, IG BCE Union Says: Manager Magazin
- SAABB SS : Saab to Open Paris Office to Supply French Defense Industry: DI
- UBSG VX : ABN, ING, Swedbank, Danske, UBS Preferred After Brexit: Barclays