• Asian stock market, economy and companies update (August 25, 2015)

    ***Index Snapshot (as of 02:30 GMT)***
    - Nikkei225 +1.1%, S&P/ASX +2.4%, Kospi +1.6%, Shanghai Composite -4.3%, Hang Seng +1.8%, Sept S&P500 +2.2% at 1,911

    ***Commodities/Fixed Income***
    - Dec gold flat at $1,153/oz, Oct crude oil +1.5% at $38.78/brl, Sept copper +0.7% at $2.27/lb
    - GLD: SPDR Gold Trust ETF daily holdings rise 3.3 tonnes to 681.1 tonnes; 3rd straight increase; 1-month high
    - (CN) PBOC SETS YUAN MID POINT AT 6.3987 V 6.3862 PRIOR SETTING; (1st weaker setting following 7 firmer Yuan fixings)
    - (CN) PBoC to inject CNY150B in 7-day reverse repos (18th consecutive injection); largest daily injection since Jan 2014
    - JGB: (JP) Japan MoF sells 399.8B in 40-year bonds, bid to cover: 2.30x (lowest since 2011) v 2.60x prior

    ***Market Focal Points/FX***
    - The rout in China stock markets continue while other Asian indices have rebounded from early losses as sharp rise in US stock index futures helped soothe sentiment. PBoC slightly weakened yuan midpoint fix after seven consecutive sessions of firmer setting. The central bank continues to inject as much as CNY150B liquidity into the market, the largest amount since January 2014. Comments from former PBoC adviser Yu sees Yuan may be gradually devalued.

    - According to the latest survey from Bank of New Zealand, Q3 inflation expectations picked up slightly for both next 12 and 24 months. Among other components, expectations for 1-year GDP reaches 2.5-year low and 2-year GDP touches 5-year low.

    -South and North Korea have reached agreement to de-escalate tensions. North Korea agreed to end the "semi-war" state and express regret for recent provocations, while Seoul will halt propaganda broadcasts in return.

    US equities / ADRs:
    -ACOR: Reportedly patent challenges by Hayman Capital (Kyle Bass) have been rejected - financial press; +29.5% afterhours

    Notable movers by sector:
    - Consumer discretionary: Goodbaby International 1086.HK +5.3% (H1 result); Golden Eagle Retail Group 3308.HK +1.6% (H1 result); YunNan Metropolitan Real Estate Development 600239.CN -10.0% (H1 result); Weifu High-Technology Group 000581.CN -3.8% (H1 result); Jiangsu Zhongnan Construction Group 000961.CN -10.0% (H1 result); Tingyi Cayman Islands Holding 322.HK -1.9% (H1 result); Gome Electrical Appliances 493.HK +3.6% (H1 result); Kirin Holdings 2503.JP -0.3% (speculation on annual result); Ryohin Keikaku 7453.JP +2.7% (plan to open stores in China); Pacific Brands PBG.AU +16.2% (FY15 result)
    -Consumer staples: China Modern Dairy 1117.HK +4.5% (H1 result); Zhejiang Beingmate Technology Industry & Trade 002570.CN -10.0% (H1 result)
    - Financials: Poly Property Group 119.HK -0.5% (H1 result); Harbin Bank Co 6138.HK -1.7% (H1 result); Sunac China Holding 1918.HK -0.4% (H1 result); China Resources Land 1109.HK +3.2% (H1 result); Poly Real Estate Group 600048.CN -5.7% (H1 result); Sealand Securities Co 000750.CN -8.1% (H1 result); Scentre Group SCG.AU +2.2% (H1 result)
    - Industrials: NARI Technology Development 600406.CN -9.8% (H1 result); Jingwei Textile Machinery 000666.CN -3.5% (H1 result); CITIC Limited 267.HK +1.9% (H1 result); CITIC Heavy Industries 601608.CN -10.0% (H1 result); AVIC Aviation Engine 600893.CN -10.0% (H1 result); Zhengzhou Yutong Bus 600066.CN +1.8% (H1 result); Amcor AMC.AU +4.8% (FY15 result); Boral Ltd BLD.AU +1.0% (speculation of divestment)
    - Technology: AAC Technologies Holdings 2018.HK +9.8% (H1 result); Sunny Optical Technology Group 2382.HK -5.2% (H1 result); Shenzhen MTC 002429.CN -9.6% (H1 result); BOE Technology Group 000725.CN -8.3% (H1 result); Wasu Media Holding Co 000156.CN -7.9% (H1 result); Hynix Semiconductor 000660.KR +6.9% (to build 2 new chip plants); HTC Corp 2498.TW +9.9% (share buyback)
    - Materials: Baoshan Iron & Steel 600019.CN -9.3% (H1 result); Tangshan Jidong Cement 000401.CN -5.9% (H1 result); China National Building Material Co 3323.HK -4.8% (H1 result)
    - Healthcare: Jiangsu Hengrui Medicine 600276.CN +3.7% (H1 result); Beijing Tongrentang 600085.CN -5.8% (H1 result); Shenzhen Salubris Pharmaceuticals 002294.CN -2.9% (H1 result); Healthscope HSO.AU -1.6% (FY15 result); Virtus Health VRT.AU +6.1% (FY15 result); Shenzhen Neptunus Bioengineering 000078.CN -9.0% (H1 result)
    - Energy: Pingdingshan Tianan Coal Mining 601666.CN -10.0% (H1 result); Senex Energy SXY.AU -2.4% (FY15 result); Oil Search OSH.AU +0.2% (H1 result)
    - Utilities: GD Power Development 600795.CN -8.1% (H1 result); Inner Mongolia MengDian HuaNeng Thermal Power 600863.CN -9.0% (H1 result)
    -Telecom: Softbank Corp 9984.JP +0.2% (to become sole provider of Netflix in Japan)

    ***Economic Data***
    - (AU) Australia JUNE Conference Board Leading index m/m: -0.2% v +0.2% prior
    - (AU) Australia ANZ Roy Morgan Weekly Consumer Confidence Index: 113.0 v 113.2 prior

    Contributed by Trade The News
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