MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Asian Equities Mostly Lower, Yen Intervention Risk Grows

ASIA STOCKS
Metals bulletEM BulletFixed Income BulletsHomepagemarkets-real-timeCommoditiesEnergy BulletsBulletMarketsEmerging Market NewsForeign Exchange Bullets

Regional Asian equities opened mostly lower today. The ASX hit new all-time highs despite a slowdown in retail sales in Feb, while New Zealand also rose following a drop in consumer and business confidence. Japanese markets face growing risk of government intervention in FX markets, impacting exporters, with foreign investors selling regional equities except in South Korea.

  • In Japan, equities opened lower due to rising risk of government intervention in the FX market, particularly affecting exporters. The yen remains steady at 151.36 to the dollar, with Assistant Governor Tokiko Shimizu of the Bank of Japan expecting inflation to remain around 2%, emphasizing accommodative policy and plans to maintain current JGB purchases. The Topix is down 1.14%, while the Nikkei is slightly above 40,000, down 1.03%.
  • South Korean equities are slightly lower today. Finance Minister Choi Sang-mok highlighted export-driven recovery but cautioned about high prices and borrowing costs, aiming to stabilize inflation at 2%. President Yoon Suk Yeol expressed hope for the Bank of Korea's active role in financial market stabilization. The Kospi is down 0.20%.
  • Taiwanese equities opened slightly lower with foreign investor flows negative for 7 of the past 10 days. Interest rate swaps declined as the central bank hinted at holding rates in June after a March hike. CB Governor Yang Chin-long suggested unchanged rates in June if CPI stays between 2%-2.5%. The Taiex is down 0.17%.
  • Australian equities made fresh all time highs earlier, touching the 7,900 mark, we trade just off those levels at the moment to be up 0.85% for the day. Miners and Real estate names are the top performers. Earlier, Private sector credit beat estimates at 0.5% m/m vs 0.4%m/m expected, while Retail Sales missed estimates coming in at 0.3% vs 0.4% m/m down from last month of 1.1%.
  • Elsewhere in SEA, New Zealand Equities are higher, the NZD made fresh YTD lows after consumer and business confidence showed a steep drop while Singapore equities are up 0.20%,
321 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Regional Asian equities opened mostly lower today. The ASX hit new all-time highs despite a slowdown in retail sales in Feb, while New Zealand also rose following a drop in consumer and business confidence. Japanese markets face growing risk of government intervention in FX markets, impacting exporters, with foreign investors selling regional equities except in South Korea.

  • In Japan, equities opened lower due to rising risk of government intervention in the FX market, particularly affecting exporters. The yen remains steady at 151.36 to the dollar, with Assistant Governor Tokiko Shimizu of the Bank of Japan expecting inflation to remain around 2%, emphasizing accommodative policy and plans to maintain current JGB purchases. The Topix is down 1.14%, while the Nikkei is slightly above 40,000, down 1.03%.
  • South Korean equities are slightly lower today. Finance Minister Choi Sang-mok highlighted export-driven recovery but cautioned about high prices and borrowing costs, aiming to stabilize inflation at 2%. President Yoon Suk Yeol expressed hope for the Bank of Korea's active role in financial market stabilization. The Kospi is down 0.20%.
  • Taiwanese equities opened slightly lower with foreign investor flows negative for 7 of the past 10 days. Interest rate swaps declined as the central bank hinted at holding rates in June after a March hike. CB Governor Yang Chin-long suggested unchanged rates in June if CPI stays between 2%-2.5%. The Taiex is down 0.17%.
  • Australian equities made fresh all time highs earlier, touching the 7,900 mark, we trade just off those levels at the moment to be up 0.85% for the day. Miners and Real estate names are the top performers. Earlier, Private sector credit beat estimates at 0.5% m/m vs 0.4%m/m expected, while Retail Sales missed estimates coming in at 0.3% vs 0.4% m/m down from last month of 1.1%.
  • Elsewhere in SEA, New Zealand Equities are higher, the NZD made fresh YTD lows after consumer and business confidence showed a steep drop while Singapore equities are up 0.20%,