• Asian stock market, economy and companies update (October 08, 2015)

    Index Snapshot (as of 02:30 GMT)
    - Nikkei225 -0.7%, S&P/ASX +0.6%, Kospi +0.1%, Shanghai Composite +3.8%, Hang Seng -0.4%, Dec S&P500 -0.4% at 1,980

    Commodities/Fixed Income
    - Dec gold -0.5% at $1,143/oz, Nov crude oil +0.5% at $48.06/brl, Dec copper -0.7% at $2.35/lb
    - GLD: SPDR Gold Trust ETF daily holdings fall 1.8 tonnes to 687.2 tonnes
    - SLV: iShares Silver Trust ETF daily holdings fall to 9,802 tonnes from 9,855 tonnes (lowest level since Dec 2012)
    - JGB: Japan's MOF sells 30-year JGB sells 728B in 1.4% 30-year bonds; Avg yield: 1.350% v 1.412% prior; Bid to cover: 3.33x v 3.11x prior
    - USD/CNY: (CN) PBoC sets yuan mid point at 6.3505 v 6.3613 prior setting; strongest Yuan setting since Aug 12th
    - (CN) PBoC to inject CNY120B in 7-day reverse repos (28th consecutive injection)
    - (JP) Japan investors net sold 1.26T in foreign bonds v bought 1.04T in prior week; Foreign investors sold net 177B in Japan stocks v sold 192B in prior week

    Market Focal Points/FX
    - Asian indices are mixed in spite of the return of buyers in US markets, with technical ceiling of 2,000 in cash S&P on Wednesday deterring a follow-through rally in the region. Nikkei is one of the bigger underperformers as USD/JPY sold off about 25pips from the highs below 119.90. Shanghai Composite is back from a week-long break, rising nearly 4% on strength in property names. Recall mainland markets did not have a chance to respond to the latest PMI and property curbs easing data out of Beijing. Macau names are also bid on speculation of more support from the govt. US equity futures are under pressure, with S&P e-minis down about 0.5% below 1,980. In other USD majors, AUD/USD and NZD/USD are down about 40pips from their highs, falling below 0.7170 and 0.6590 respectively.

    - Commentary out of China's NDRC official estimated 2015 fixed asset investment growth of about 14%, which is below 15% official target. Side effects of Yuan devaluation - investment outflows - have haunted China policymakers, and PBoC has set Yuan midpoint at its strongest level since August upon return to trade. PBoC Dep Gov Yi separately noted China is looking to make currency policy more market oriented, and will continue to allow currency to move with market.

    - Japan Machine Orders data are widely viewed as the "canary in the coalmine", containing evidence of spending intentions by Japanese companies. Today's figures showed unexpected 3rd straight month of sequential decline, leading the cabinet office to downgrade its assessment of the sector to "stalling".

    Equities
    Extended Session US equities / ADRs:
    - JMG: Gannett confirms to acquire Journal Media Group for $280M; +43.1% afterhours
    - NVLS: Announces positive Phase 1b results for N91115 in patients with cystic fibrosis and plans to initiate Phase 2 trial; +16.2% afterhours
    - MG: Reports Q1 $0.23 v $0.10e, R$179.9M v $165Me; Authorizes repurchase of $50M (12% of market cap) in common stock; +16.0% afterhours
    - LL: Announces settlement related to Lacey Act investigation; agrees to pay $10M in fines (unrelated to CARB allegations raised by 60 Minutes); +9.5% afterhours
    - EMC: Dell said to be in talks to acquire all or parts of EMC - financial press; +7.9% afterhours
    - ZUMZ: Reports Sept SSS -1.8%; +3.8% afterhours
    - DB: Guides Q3 IBIT loss at 6B; cites impairment of goodwill and intangibles; may eliminate dividend for FY15; -6.3% afterhours
    - ORIG: Announces Fleet Update; -12.6% afterhours
    - CSII: Guides Q1 -$0.43 to -$0.41 v -$0.39e, R$43.9M v $49.2Me; -15.0% afterhours

    Post Afterhours session:
    - FCAU: UAW and Fiat Chrysler reach agreement, averting a strike - financial press

    Notable movers by sector:
    - Consumer discretionary: Skyworth Digital 751.HK +3.3% (Sept data); Aeon Co 8267.JP -5.5% (H1 result); Seiko Holdings 8050.JP -4.5% (H1 result speculation); Hokuetsu Kishu Paper 3865.JP +2.3% (H1 result speculation); FamilyMart Co 8028.JP -2.2% (H1 result, to issue formal merger agreement soon)
    - Financials: China Vanke 000002.CN +3.5%, Poly Real Estate Group 600048.CN +4.0% (China lowers down payment); ANZ Bank ANZ.AU +1.3%, Macquarie Group MQG.AU +1.1% (Macquarie to acquire ANZ portfolio); Bank of Queensland BOQ.AU +7.8% (FY15 result)
    - Industrials: Geely Automobile Holdings 175.HK +1.8% (Sept data); Shuangliang Eco-Energy Systems 600481.CN +5.1%(contracts with Siemens); Daikin Industries 6367.JP +0.8% (H1 earnings speculation)
    - Technology: IMAX China 1970.HK +6.9% (IPO debut); TPK Holding 3673.TW -2.5% (Sept result)
    - Materials: Bluescope Steel BSL.AU +4.6% (to cut jobs); Mitsui Mining & Smelting Co.5706.JP +2.1% (H1 earnings speculation); Ramelius Resources RMS.AU +2.6% (Q1 result)
    - Healthcare: Jiangsu Hengrui Medicine 600276.CN +5.0%, Shanghai Fosun Pharmaceutical Group 600196.CN +10.0% (momentum for wining Nobel Prize for medicine)
    - Utilities: CLP Holdings 2.HK +0.8% (asset sales)


    Economic Data
    - (JP) JAPAN AUG MACHINE ORDERS M/M: -5.7% (3rd straight decline) V +2.3%E; Y/Y: -3.5% (first decline in 9 months) V +3.5%E
    - (JP) JAPAN AUG CURRENT ACCOUNT BALANCE: 1.65T V 1.23TE; ADJUSTED CURRENT ACCOUNT: 1.59T V 1.29TE; TRADE BALANCE: -326B (biggest deficit in 7 months) V -395BE
    - (NZ) New Zealand Sept Truckometer Heavy M/M: +1.7% v -0.5% prior
    - (UK) UK SEPT RICS HOUSE PRICE BALANCE: 44% V 55%E

    Contributed by Trade The News
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