Asia is treading water and volatility is lukewarm as China and other regional indices begin a week-long celebration of the Lunar New Year. Nikkei225 was down marginally early on even though USD/JPY was up some 60pips from opening lows above 117.30, testing the highs seen after the sound non-farm payrolls data out of the US on Friday. Toyota shares are weighing on the market after unimpressive results post-close on Friday. China is closed, the release of January foreign reserves data was closely watched by investors to gauge the extent to which PBoC was forced to prop up the Yuan. Although reserves fell for the 3rd straight month to a 3-year low, the decline of $99.5B was less than the record high $107.9B in Dec and should ease some worries. Mizuho economists said the smaller decline suggests that some capital outflow restrictions imposed in January worked while anticipating another benign figure in Feb. last week, Premier Li reiterated that China will not boost its economy via Yuan devaluation and is not at risk of a hard landing as long as it maintains its reform goals.
Nikkei +1.10% Hang Seng Closed Shanghai Closed
Eur$ 1.1139 CNH 6.5749 CNY 6.5743 JPY 117.46 GBP 1.4504 CHF 0.9939 RUB$ 76.93 WTI $31.19 (+0.97%)
S&P+0.43% EuroStoxx+0.49% DAx+0.65% SMI+0.17%
Macro :
- BOJ Could Decide on Additional Easing in March, JPMorgan Says
- Gulf Stocks Retreat From Highest Level in More Than Three Weeks
- Iran Seeks Payment for Oil Exports in Euros: Shana
- Russia Weighs Convertible Bonds for Privatization Deals: Finmin
- Iran Sees Oil Exports to Europe at 300,000 Barrels/Day: Shana
- China Willing to Negotiate W/ WTO Members on Steel Overcapacity
- China Jan. Retail Auto Sales Rise 13.5% on Year, PCA Says
- Italy Will Probably Consider Bank Measures on Wednesday: Stampa
Keep an eye on :
- ABG SM : Ericsson in Talks to Buy Abengoa’s Abentel Unit: Expansion
- AIR FP : Airbus to Perform First A321neo Flight With CFM Engines
- AF FP : Air France-KLM January Passengers Increase 3% to 6.4m
- ATC NA : CVC: NYC and New York State have continud to object to Altice's $10B takeover plan of Cablevision
- AAL LN : Anglo American rumoured to have made progress with potential Samancor stake sale - FT
- AZN LN : AstraZeneca Cancer Treatment Shows Promise in Study: FT
- CS FP : Axa Takes 8% Stake in Africa Internet for EU75m, Les Echos Says
- BMPS IM : Paschi Offers Considerable Upside Though Visibility Low: Exane
- BARC LN : Barclays urged to dispose of US investment bank - The Times
- BINCK NA : BinckBank 4Q Adjusted Profit Falls to EU11.6m vs EU12.7m, 2015 Adj Profit Up, Has Had a Slow Start in January
- BWO NO : BW Offshore 4Q Net Loss $235m Due to Impairments
- CO FP : TCC Said to Buy Groupe Casino’s Big C Stake for $3.46b: WSJ
- CO FP : Casino Expects to Meet or Exceed Debt-Reduction Target, CFO Says
- CSGN VX : Credit Suisse CEO to Take Substantial Bonus Cut: SonntagsZeitung
- ERICB SS : Ericsson shareholder Industrivarden could sell its stake (15.2%)- Dagens Industri
- GBF GY : Bilfinger Sells Water Technology Business to Chengdu Techcent
- GPRO US : GoPro, Microsoft Sign Licensing Pact; GoPro Gains Post-Mkt --> +6.42% in after hours
- GSK LN : GlaxoSmithKline Investors Divided Over Break-Up Calls: Telegraph
- BMPS IM : Paschi Considering Actions to Speed Recovery, Sale of Bad Loans
- BT/A LN : BT Group Finance Chief Chanmugam Said to Retire This Year: Sky
- EZJ LN : EasyJet Investors Reject Founder’s Call to Boost Div: Telegraph
- KGX GY : Kion Agrees to Buy Retrotech from Savoye
- NOVN VX : Novartis Pharmaceuticals Corporation Gets Orphan Status
- OPERA NO : Opera Software could be takeover target for Qihoo - Dagens Naeringsliv, Finansavisen
- PAL AV : Palfinger has shortlist of potential takeover targets; talks ongoing - OOeNachrichten
- RR/ LN : Rolls-Royce Planning to Cut Dividend, Sunday Times Reports
- SIE GY : Siemens to Cut Jobs in Process, Drive Technology: Handelsblatt
- SYNN VX : ChemChina Won’t Restructure Syngenta HQ for Five Years: SamS
- TKA AV : Telekom Austria could be fully privatised without infrastructure
- VOLVB SS : Volvo CEO not planning disposals
- VNA GY : Vonovia CEO Says Deutsche Wohnen to Remain Listed Company: FAZ
- VOW3 GY : Volkswagen Delayed Earnings Report May Come in Late April: Bild
- VOW3 GY : VW Trucks Chief Open to IPO, Acquisitions in Expansion Strategy