• Asian stock market, economy and companies update (September 30, 2015)

    Index Snapshot (as of 02:30 GMT)
    - Nikkei225 +1.7%, S&P/ASX +1.0%, Kospi -0.5%, Shanghai Composite +0.6%, Hang Seng +0.8%, Dec S&P500 +0.4% at 1,882

    Commodities/Fixed Income
    - Dec gold -0.2% at $1,124/oz, Nov crude oil -1.0% at $44.77/brl, Dec copper +0.5% at $2.26/lb
    - (US) API Petroleum Inventories: Crude: +4.6M v +0.5Me (first build in 3 weeks; largest build since Sept 1st)
    - (CN) PBOC: China Aug gold reserves 54.5M oz v 53.9M oz prior
    - USD/CNY: (CN) PBoC sets yuan mid point at 6.3613 v 6.3660 prior setting (strongest Yuan setting since Sept 18th)
    - (JP) BOJ offers to buy 400B in 1-3yr JGBs, 400B in 3-5yr JGBs, 240B in 10-25yr JGBs, and 140B in JGBs with maturity over 25-yr

    Market Focal Points/FX
    - The last trading day of the quarter in Asia has finally given way to relief rally, though it remains unclear how much of the buying is due to short-covering and window dressing. US indices also thawed, with S&P500 showing its first marginal rise after 5 losing sessions. S&P500 eminis are up by a more resounding margin, rising about 15pts or 0.8%. In FX, risk-on flows are also helping drive funds out of safe-haven Yen and into the beaten down commodity currencies. USD/JPY is up about 20pips from the lows above 119.90, AUD/USD up nearly 40pips around 0.7020, NZD/USD up about 35pips above 0.6370, and EUR/USD flat around 1.1250.

    - Japan industrial output fell for the 3rd straight month against expected sequential improvement, prompting the cabinet office to cut its assessment of production once again. Retail sales were also disappointing, and output of cars is now down for the 12th straight month. Skeptics are increasingly worried over the sustainability and the efficacy of Abenomics, and Japan's Prime Minister continued to take every opportunity to defend his plans with more remarks in the US on Tuesday. Abe's advisors however are calling for more aggressive policy response - Honda said Japan needs more economic stimulus to defend against a shock from China slowdown as Japan is now in static situation, while Takenaka said he prefers to see an extra budget of 5T this fall, followed by additional BOJ easing.

    - China FX regulator reiterated it would keep Yuan basically stable, anticipating current account surplus to be maintained in H2. SAFE did acknowledge that large volatility in cross-border capital flows should be anticipated for the balance of H2. China official Manufacturing and Non-Manufacturing PMI figures are on tap for release tomorrow.

    - Down under, BHP and Rio Tinto borrowed a page from Glencore's playbook, talking up their financial position over the past 24 hours. Fortescue is also up nearly 5% after company CEO said commodity market volatility can be sustained, and that he is looking for an investor to help accelerate debt payment. Australia building approvals was the most notable datapoint for the session, falling by wider than expected margin m/m and also missing expectations for y/y growth. In New Zealand, Fin Min English said he was very concerned about the risks of a housing market crash, just as the latest Building Permits data also showed a contraction.

    US equities / ADRs:
    - UACL: Guides Q3 $0.27-0.31 v $0.44e, R$283-290M v $296Me ; SCOR +8.5%; RENT +12.9% afterhours
    - CLVS: Reaches milestones in the US and Europe for Rociletinib; +4.1% afterhours
    - DMND: Reports Q4 $0.23 v $0.22e, R$202M v $205Me; -4.3% afterhours
    - CMLS: Confirms names new CEO; effective Oct 13th;-4.6% afterhours
    - DCI: Files NT-10K to delay annual report filing; -10.6% afterhours
    - CUDA: To acquires Intronis Inc (private); terms not disclosed; -22.3% afterhours

    - COST: Reports Q4 $1.73 v $1.66e, R$35.8B v $36.3Be

    Notable movers by sector:
    - Consumer discretionary: Japan Tobacco 2914.JP -7.5% (confirms asset purchase); Heiwado 8276.JP +4.6% (6-mo result)
    - Consumer staples: China Huishan Dairy Holdings 6863.HK -5.3% (acquisition)
    - Financials: Goldin Financial Holdings 530.HK +0.7% (FY15 result)
    - Industrials: CRRC Corp 1766.HK +2.8% (awarded contracts); Geely Automobile 175.HK +15.1%, BYD 1211.HK +4.7% (China to cut tax for small cars); Mazda Motor 7261.JP +5.8%, Honda Motor 7267.JP +1.6% (Aug Japan auto production)
    - Technology: Mesoblast MSB.AU -4.0% (trial update)
    - Materials: Fortescue Metals Group FMG.AU +4.8% (CEO comment)
    - Energy: AGL Energy AGL.AU -2.3% (FY16 guidance)
    - Healthcare: Hua Han Bio-Pharmaceutical Holdings 587.HK +1.1% (FY15 result); Eisai Co 4523.JP +1.4% (adjusts H1 guidance); Avita Medical AVH.AU +18.6% (awarded contract)
    - Telecom: China Mobile 941.HK -2.1% (to launch unused data rollover plan); TPG Telecom TPM.AU +5.9% (deals with Vodafone)

    Economic Data
    - (JP) JAPAN AUG PRELIMINARY INDUSTRIAL PRODUCTION M/M: -0.5% (3rd straight decline) V 1.0%E; Y/Y: 0.2% v 0.8%E
    - (JP) JAPAN AUG RETAIL SALES M/M: 0.0% V 0.5%; Y/Y: 0.8% (5-month low) V 1.2%E; LARGE RETAILERS' SALES: 1.8% V 1.3%E
    - (JP) JAPAN AUG VEHICLE PRODUCTION Y/Y: -4.7% V -5.9% PRIOR (12th straight negative reading)
    - (AU) AUSTRALIA AUG PRIVATE SECTOR CREDIT M/M: 0.6% V 0.5%E; Y/Y: 6.3% (6-year high) V 6.2%E
    - (AU) AUSTRALIA AUG BUILDING APPROVALS M/M: -6.9% V -2.0%E; Y/Y: 5.1% (10-month low) V 7.4%E
    - (NZ) New Zealand Aug M3 Money Supply Y/Y: 9.0% v 9.3% prior; 3-month low
    - (SG) Singapore Aug M1 Money Supply Y/Y: 2.3% v 2.0% prior; M2 Money Supply Y/Y: 1.8% v 2.6% prior
    - (UK) SEPT GFK CONSUMER CONFIDENCE: 3 V 5E (4-month low)

    Contributed by Trade The News
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