***Markets Snapshot (as of 04:30GMT)***
- Nikkei225 +0.4%
- S&P/ASX +0.2%
- Kospi +0.8%
- Taiwan Taiex +2.0%
- Singapore Straits Times Index +0.5%
- Shanghai Composite +1.6%
- Hang Seng +1.1%
- Jun S&P Futures +0.1% at 1,402
- June gold -0.1% at $1,660/oz
- June Crude -0.2% at $105.95
***Overview/Top Headlines***
- With all markets open today there was strength across the region on the back of strong manufacturing numbers out of the key economies of China and the US. China April HSBC manufacturing at 49.3 was still in contraction territory but an improvement from 48.3 in March and another sign that China is heading for a soft landing. AUD/USD rose to session highs at $1.0343, where it continued to hold heading into the Aussie close. USD/JPY stayed around ¥80.20 before strengthening heading into the European open. Japan PM Noda concluded his visit to the US, though an uncharacteristically quiet day from Japan officials. Several Australia names affirmed their FY12 guidance, Singapore Telecom announced 750 job cuts in its Australian unit or 7.9% of employees, the unit has been struggling against larger competitor Telstra. Shares of APA fell after its largest shareholder sold its entire stake. Corn futures fell over 1% to $6.53 while silver gained slightly to $30.90 and copper fell over 0.5% to $3.81.
Just a reminder that Japan markets will be closed for the rest of the week for its Golden Week holiday, Friday US non-farm payrolls will report and Sunday there is leadership elections in both France and Greece.
***Speakers/Geopolitical/In the press***
- Asia Development Bank (ADB) President Kuroda: Believes worst of EU debt crisis may be over
- (CN) Shanghai new home sales w/w: -23.5% v -0.2% prior; new home prices +1.93% v +7.2% prior - UWIN
- (CN) China's 'Big Four' state-run banks issued CNY101.7B in new yuan loans in first 25-days of April - financial press
- (PH) Philippines Economic Planning Chief Paderanga: Sees Q1 GDP of 5.5% - financial press
- (HK) Hong Kong Property Dir: Apr property sales 8.03K, -30% m/m; Expecting 3,500 new homes to be put on the market in May v 1,000 in April - HK Press
***Equities***
- WPL.AU: Chairman: Labor demand is putting pressure on LNG cost and scheduling; Cost pressures risk hurting LNG project economics
- ORG.AU: Reaches large sales agreement with Gladstone LNG (GLNG); To supply 365 pj of gas over 10-yrs at Wallumbilla, starting 2015
- Samsung Electronics, 005930.KR: To convert some if its domestic DRAM production capacity into non-memory chip lines - Korean press
- SKM, 017670.KR: Reports Q1 Net KRW323.3B v KRW537.3B y/y; Op KRW452.3B v KRW614.3B y/y; Rev KRW3.99T v KRW3.91T y/y
- ANZ.AU: Reports H1 Underlying Net A$2.97B v A$3.0Be, Rev A$8.82B v A$8.6B y/y
- Wynn Macau, 1128.HK: Formal Gazette approval was granted for new Macau Cotai casino project
***US Equities***
- THOR: Reports Q1 $0.51 v $0.41e, R$126.8M v $112Me; +10.1% after hours
- RATE: Reports Q1 $0.18 (adj) v $0.19e, R$125M v $127Me; -11.4% after hours
- TRIP: Reports Q1 $0.38 v $0.33e, R$184M v $174Me; +17% after hours
- CHK: Reports Q1 $0.18 v $0.29e, R$2.4B v $2.8Be; -5.5% after hours
- OPEN: Reports Q1 $0.40 v $0.34e, R$33.7M v $40Me; -15.3% after hours
- PLX: FDA approves Taliglucerase Alfa as a treatment for Gaucher Disease; +22.6% after hours
***Fixed Income/Commodities/Forex***
- (US) API PETROLEUM INVENTORIES CRUDE: +2.03M V +2ME; GASOLINE: -3.9M V -500KE; DISTILLATE: -4.18M V 0E; UTILIZATION: 83.9% V 82.9%W/W
- (KR) South Korea Food, Agriculture, Forestry, and Fisheries Committee of National Assembly votes to halt imports of US beef products - Korean press
- USD/CNY: (CN) PBoC sets yuan mid point at 6.2670 v 6.3102 prior close (new yuan high since July 2005 revaluation)
- (AU) Australia sells A$700M of 5.5% 2018 bonds, avg yield 3.7155%; Bid-to-cover 2.97x
- GLD: SPDR Gold Trust ETF daily holdings falls to 1,274.1 tons from 1,278.3 tons (lowest since 1,271.1 tons on Jan 27th)
- CME: To Expand CBOT Grain and Oilseed Trading Hours on CME Globex
***Economic Data***
- (CN) CHINA APR HSBC MANUFACTURING PMI: 49.3 V 48.3 PRIOR (6th month of contraction)
- (JP) JAPAN MAR LABOR CASH EARNINGS Y/Y: 1.3% V 0.2%E (highest since Jul 2010)
- (NZ) NEW ZEALAND APR ANZ COMMODITY PRICE: -4.5% V -1.7% PRIOR
- (KR) SOUTH KOREA APR HSBC MANUFACTURING PMI: 51.9 V 52.0 PRIOR
- (JP) JAPAN APR MONETARY BASE Y/Y: -0.3% V -0.2% PRIOR (2nd consecutive y/y decline)
- (TH) THAILAND APR CONSUMER CONFIDENCE ECONOMIC: 67.5 V 66.5 PRIOR
- (TW) TAIWAN APR HSBC MANUFACTURING PMI: 51.2 V 54.1 PRIOR
- (RU) RUSSIA APR MANUFACTURING PMI: 52.9 V 50.8 PRIOR
- (IN) INDIA APR MARKIT MANUFACTURING PMI: 54.9 V 54.7 PRIOR
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