ASIAN SUMMARY: Regional markets are mostly lower, following losses in U.S. markets Monday and as caution sets in before Wednesday's German Constitutional Court ruling on the legality of the ESM and the two-day FOMC meeting commencing Wednesday. The Nikkei is 0.7% lower, the S&P/ASX falls 0.2%, the HSI drops 0.6%, the Kospi is down 0.2%, the Taiex is flat, the Sensex slips 0.1%, the Shanghai Composite slides 1.2%, the STI is adds 0.1%, and the NZX-50 rises 0.5%. In FX markets, the euro gains back some ground against the USD and JPY on hopes of further stimulus from the U.S. Fed at this week's policy meeting. The EUR/USD is at 1.2767 from 1.2759 late Monday in New York, the EUR/JPY is at 99.85 from 99.86, and the USD/JPY is at 78.21 from 78.28. Japanese finance minister Azumi voices concerns over the growing impact of a slowdown in Europe, the U.S. and China on the Japanese economy, but says more study is needed before the government determines the need for additional stimulus steps. The PBOC injects CNY77 billion into the money market Tuesday via a reverse repo offering. China's August new yuan loans total CNY703.9 billion, +30% from July's CNY540.1 billion and higher than the CNY600 billion expected. Australian business lending falls to its lowest level in five months in July, dropping 5.0% on month to A$29.8 billion. Philippine exports rise 7.8% on year to $4.81 billion in July. Japan's big company corporate mood index stood at +2.2 for 3Q vs minus 3.1 in 2Q. Spot gold is at $1,729.80/oz, up $5.00 from the NY close. October Nymex crude oil futures are down 34 cents at $96.20/bbl.
Find us on Google+
No comments:
Post a Comment