Shares On China’s New Technology Board Rise In Debut

Jul 22 19, 06:49 GMT

General Trend:

Shanghai IT index declines on launch of new technology board in China
Some Chinese companies are said to have made inquiries related to purchases of US farm products (Xinhua)
China State Media: New import plan related to US farm goods shows Chinese commitment, the plan is a response to recent ‘positive’ signals from US officials
Hang Seng underperforms ; decliners include property shares, insurers, gaming companies and telecoms
Hundreds of thousands said to protest in HK; train operation MTR declines on reports of violence in subway stations
Brent Crude Futures rise over 1%, UK said to plan sanctions related to Iran (UK press)
South Korea exports on track to decline for 8th straight month in July as chip shipments continue to drop, July 1-20th imports from Japan -14.5% y/y
Japan upper house elections in line with expectations
RBA Gov Lowe is due to speak on inflation targeting and economic welfare on July 25th (Thursday)
US companies expected to report during the NY morning include Haliburton

Headlines/Economic Data

Australia/New Zealand

China/Hong Kong

Shanghai Composite opened +0.1%, Hang Seng -0.5%
(CN) Some companies in China are looking to purchase farm products from the US, cites authorities – Xinhua
(CN) New import plan related to US farm goods shows Chinese commitment, the plan is a response to recent ‘positive’ signals from US officials – China State Media
(CN) China H1 new local government bond issuance CNY2.18T (+55.2% y/y) vs CNY3.08T quota for 2019; June new local gov’t bond issuance CNY717B (monthly high for 2019) – Xinhua
(CN) China PBoC Open Market Operation (OMO): Injects CNY50B in 7-day reverse repos v injects CNY100B prior; Net CNY50B injected v CNY100B injected prior
(CN) China PBOC sets yuan reference rate: 6.8759 v 6.8635 prior
(CN) China city Tangshan, which is a large steel producer, steps up pollution curbs – China Press

Japan

Nikkei 225 opened -0.3%
(JP) Japan PM Abe’s LDP led coalition government expected to win half of the open seats in today’s upper house election, LDP and partner Komeito retained their simple majority – Japan Press

Korea

Kospi opened -0.2%
Samsung Electronics: Considering expansion of investment in the US due to Japan curbs, according to Yonhap; Samsung refutes the story
(KR) South Korea July 1-20 Exports Y/Y: -13.6% v -10% prior; Chip Exports: -30.2% y/y; Imports from Japan -14.5% y/y (Note: South Korea exports are on track to decline for the 8th straight month in July)

Other

(IN) Reserve Bank of India (RBI) Gov Das: signs are looking good for economy; interest rate stance now depends on data; rate cuts and accommodative stance equate to 100 bps easing

North America

(US) Trump Administration and Legislators said to be approaching deal on budget caps and debt ceiling; awaiting Pres Trump approval – US Press
(US) US confirms it will deploy forces to Saudi Arabia and increase maritime surveillance in the Arabian

Europe

(IR) UK ministers are planning to put sanctions on the Iran regime; Foreign ministry to announce it will freeze Iranian assets after tanker was seized – UK press
(IR) Iranian News agency FARS: second UK oil tanker Mesdar has left Iranian waters (from July 19th)
(UK) Fin Min Hammond confirms that he will resign if Boris Johnson becomes Prime Minister – UK Press
(UK) UK government said to consider carbon surcharge related to airline tickets – UK Press
(IE) EU said to be preparing aid package for Ireland to soften no-deal Brexit – UK Press
(DE) Germany Fin Min: June tax Rev +6.8% y/y, data suggest German manufacturing to remain sluggish – Monthly report

Levels as of 1:20 ET

Nikkei 225, -0.4%, ASX 200 -0.3%, Hang Seng -0.8%; Shanghai Composite -0.8%; Kospi flat
Equity Futures: S&P500 flat; Nasdaq100 +0.1%, Dax +0.1%; FTSE100 flat
EUR 1.1221-1.1207 ; JPY 108.07-107.70 ; AUD 0.7047-0.7035 ;NZD 0.6781-0.6756
Gold +0.1% at $1,427/oz; Crude Oil +0.9% at $56.12/brl; Copper +0.3% at $2.751/lb