General Trend:
- Nikkei weighed down by declines in financials amid focus on next week’s BoJ decision [Oct 30-31st]
- Softbank’s shares have remained weaker after the recently disclosed funding package for Wework, there is also write-down speculation related to Softbank’s Vision Fund
- Financials decline in early trading in Shanghai
- Hang Seng drops after earnings from Budweiser APAC and Ping An Insurance
- South Korean steelmaker Posco declines over 4% post earnings, LG Chemical rises on better than expected quarterly profits
- Aussie equities outperform on gains in consumer stocks
Headlines/Economic Data
Australia/New Zealand
- ASX 200 opened +0.4%
China/Hong Kong
- Shanghai Composite opened flat, Hang Seng flat
- (CN) China said to ask US to remove tariffs for AG purchases – press
- (CN) China PBoC Open Market Operation (OMO): Injects CNY30B v injects CNY60B prior in 7-day; Net injects CNY0B (nil) v injects CNY60B prior
- (CN) China PBOC sets Yuan Reference Rate: 7.0749 v 7.0727 prior
- (CN) PBoC Q3 Survey: entrepreneur confidence index falls q/q
- (US) Pres Trump Aide Grisham: Meetings are happening on China trade talks
- (US) US VP Pence: if China ends unfair trade, US is ready for a new future; US is not seeking to contain China’s development
- Bank of Communications [3328.HK]: Says China National Social Security Fund did not cut stake as planned [no reason was initially disclosed]
Japan
- Nikkei 223 opened flat
- (JP) Japan METI Min Sugawara resigns amid allegations of gift scandal
- (JP) More speculation that BOJ would refrain from extra stimulus at the Oct policy meeting
Korea
- Kospi opened +0.3%
- (KR) South Korea to give up developing nation status with WTO – Korea Press
- (KR) South Korea Oct Consumer Confidence: 98.6 v 96.9 prior; Oct consumer inflation expectation hit the lowest level since the data release started in 2002.
Other
- (ID) Indonesia Fin Min Official Alfirman: To implement counter-cyclical policy; policy will fuel deficit; sees 2019 deficit at 2-2.2% of GDP (prior 1.93%); will remain prudent in management of deficit
- (TW) Taiwan Central Bank Gov Yang: – Will no longer provide annual M2 money supply target but will give mid-term target for 2-3 years
Europe
- (UK) UK GOVT TO TABLE MOTION FOR GENERAL ELECTION ON DEC 12TH – SKY NEWS
- (UK ) Reportedly EU27 envoys are not expected to make a final decision on the length of Brexit delay at Friday’s meeting – press
Levels as of 1:20 ET
- Nikkei 225, flat, ASX 200 +0.7%, Hang Seng -0.5%; Shanghai Composite -0.1%; Kospi -0.2%
- Equity Futures: S&P500 flat; Nasdaq100 +0.1%, Dax +0.2%; FTSE100 +0.9%
- EUR 1.1109-1.1100 ; JPY 108.70-108.57 ; AUD 0.6821-0.6808 ;NZD 0.6388-0.6365
- Gold flat at $1,505/oz; Crude Oil -0.5% at $55.95/brl; Copper -0.2% at $2.662/lb
