• Asian stock market, economy and companies update (September 28, 2015)

    Index Snapshot (as of 02:30 GMT)
    - Nikkei225 -1.1%, S&P/ASX +0.8%, Kospi closed, Shanghai Composite flat, Hang Seng closed, Dec S&P500 -0.3% at 1,913

    Commodities/Fixed Income
    - Dec gold +0.1% at $1,146/oz, Nov crude oil -1.0% at $45.26/brl, Dec copper +0.4% at $2.29/lb
    - GLD: SPDR Gold Trust ETF daily holdings rise 3.7 tonnes to 684.1 tonnes; 4th straight increase and 2-month high
    - (JP) BOJ offers to buy 400B in 1-3yr JGBs, 400B in 3-5yr JGBs, 400B in 5-10yr JGBs

    Market Focal Points/FX
    - Asian markets are mixed and trading was thin, with several indices closed for Fall festival and with US jobs data looming later in the week. Nikkei225 is down over 1%, as weekend commentary from PM Abe suggested the govt is not considering compiling an extra budget. Note that Japan will also post its quarterly Tankan data this coming Thursday, with expectations pointing to continued deterioration. China markets are little changed ahead of this week's PMIs. In the mean time, China industrial profits contracted by their largest amount in several years, with the Stats Bureau blaming rising input costs and decline in Yuan. Also of note in China, CCIEE official acknowledged the precarious power consumption and freight volume indicators, but also pointed at industrial restructuring as a key factor in analyzing the economy.

    - IMF head Lagarde spoke with French press and effectively flagged a downgrade to global growth, calling the 3.3% 2015 GDP objective set in July as no longer realistic. Lagarde said developing economies' growth is picking up, as emerging markets slow.

    - Outside China industrial profits, economic data was limited to a softer Employment Confidence out of New Zealand as surveyed by Westpac, which fell to a 3-year low. RBNZ Gov Wheeler also spoke, noting New Zealand inflation was lower than preferred. NZD/USD was one of the more active USD majors, initially falling over 20pips to $0.6360 on data release before reversing the decline. USD/JPY traded in about a 30pip range below 120.60, AUD/USD was flat and supported by the $0.70 handle, and EUR/USD traded about 15pips on either side of $1.12.

    - Escalating Syria standoff saw some notable weekend developments and commentary. France expanded its bombing of ISIS to Syria from Iraq. Even more notable, Russian president Putin, whose expanded Syria involvement has come under scrutiny in recent days was interviewed by CBS 60 Minutes. Putin said Russia was not planning to insert ground troops into Syria at this time, but rather was seeking a "coordinated framework" to fight ISIS. He did however acknowledge that Moscow is looking at ways in which the legitimate Assad govt can be supported.

    US equities / ADRs:
    - ATML: Cypress Semi reportedly working on a rival offer to acquire company - financial press
    - WMB: Acquisition by Energy Transfer may be announced as soon as Monday; Value speculated at $34B - financial press
    - SAB.UK: AB Inbev said to bid 70B for SAB Miller; Would mark the biggest takeover of a UK company - UK press

    Notable movers by sectors:
    - Consumer discretionary: Nine Entertainment Co Holdings NEC.AU -0.6% (stake evaluation by Apollo)
    - Industrials: China Merchants Energy Shipping Co 601872.CN +1.4% (long-term agreement with Vale); Suzuki Motor Corp 7269.JP -1.6% (VW stake sales)
    - Technology: Hon Hai Precision Industries 2317.TW +0.8%, Sharp Corp 6753.JP +1.4% (Hon Hai reportedly to acquire stake Sharp's LCD unit); Leshi Internet Info & Tech Co 300104.CN +8.0% (launches new smart TVs)
    - Energy: Woodside Petroleum WPL.AU +0.9% (speculation unlikely to increase bid for OSH)
    - Telecom: Vocus Communications VOC.AU -5.9%, M2 Telecommunications Group MTU.AU +14.0% (Vocus to merge with M2)

    Economic Data
    - (CN) CHINA AUG INDUSTRIAL PROFITS Y/Y: -8.8% (3rd straight decline) V -2.9% PRIOR; YTD: -1.9% V -1.0% PRIOR

    Contributed by Trade The News
About us
StockMarketsReview.com provides news coverage, analysis and researches for world stock markets, commodities and currencies. We publish articles provided by experts of leading brokerage and investment companies. At our website investors can find daily, weekly and monthly reports, news, recommendations on the IPOs and fundamental analysis for stocks which are currently traded at the stock exchange.