Asia Closing Report 03 Apr 2018

Asian cash equity markets traded mostly in the red.

Asian Closing Report (by Sigma Squawk)

Asian cash equity markets traded mostly in the red (NIKKEI -0.6 %, S&P/ASX +0.1 %, SHANGHAI COMPOSITE %) following losses on Wall Street on trade concerns and a slump in tech stocks. 

As expected, the RBA held its cash rate target at +1.5% in its April meeting. On the data front, Australia’s CBA manufacturing PMI fell to 54.3 in March, while ANZ job ads were flat m/m. Meanwhile, Japan’s monetary base climbed 9.1% y/y in March. Meanwhile, the PBoC set the yuan midpoint at 6.2833 against the Dollar and skipped OMOs today, for the eighth consecutive session.

In currency space, an unnamed South Korean Finance Ministry Official said they are closely watching FX moves in the Won, adding there is no change in the stance that authorities will act in currency market in cases of sharp volatility. 

We also heard from Mexican Economy Minister Guajardo, who said he sees a possibility to send positive signals on NAFTA.

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Warning for higher volatility in markets (Trading Week 02 Apr - 06 Apr)


European Midday/US Morning Report 03 Apr 2018

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