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Stock indices follow the strong increases seen in the United States and Europe

Asian Market Update: Stock indices follow the strong gains seen in the United States and Europe; There are some hopes for a diplomatic resolution between Russia and Ukraine, the upcoming talks are the focus; The decision from the US CPI and the ECB is also expected later in the day.

General trend

– Oil FUTs increase after a previous decline.

– Mining and energy stocks decline after recent volatility in commodity prices.

– Financials and consumer discretionary companies generally advance amid hopes tied to Russia and Ukraine.

– Japanese automakers are following gains in the US and Europe.

– Amazon’s stock split announcement in brief.

– The Chinese Ministry of Commerce (MOFCOM) sometimes holds weekly press conferences on Thursdays.

– Taiwan Semi may release February sales.

– RBA Gov Lowe will speak on Friday at 9:45 p.m. GMT.

– The Japanese Q1 BSI survey is due out on Friday.[ data is seen as being correlated with the BoJ’s Tankan survey].

Securities/Economic data

Australia/New Zealand

The ASX 200 opened +0.4%.

– (AU) Consumer inflation expectations in Australia in March: 4.9% V 4.6% BEFORE.

– (AU) Australian Prime Minister Morrison is seeking to bolster his military defenses with an investment of AU$38 billion.

– (NZ) New Zealand February Total spend per M/M card: -7.6% vs. 1.9% previously; M/M retail card spend: -7.8% vs. 2.9% previously.

Reports MYR.AU H1 ($A) Net 32.3M vs. 43.0M y/y; EBIT 96.7 M vs. 109 M y/y; Rev 1.52B v 1.40B a/a.

– (AU) Reserve Bank of Australia (RBA) Dep Gov Debelle resigns effective March 16; The treasurer will appoint a new deputy governor; To fill the position of Chief Financial Officer at Fortescue Industries.


Nikkei 225 opened +1.6%.

– (JP) Japan Prime Minister Kishida: Seeing Widespread Effects on Price Increase; Need to have a coordinated government response on prices.

– (JP) Japan February PPI (CGPI) M/M: 0.8% vs. 0.6%e; Y/Y: 9.3% versus 8.6%e.

4689.JP plans to launch the global NFT marketplace this spring using its PayPay services; aiming to double PayPay users to 90 million – press.

– (JP) The Bank of Japan (BOJ) has announced the revision of the benchmark ratio used to calculate the macro-additional balance of current account balances at the BOJ to which a zero interest rate is applied: set the ratio at 6 .0% (before 4.0%) for the March reserve maintenance period.


Kospi opened +1.5%.

– (KR) The elected President of South Korea, Yoon: will put the economy back on the path to growth; Will transition to an economy run by the private sector, not run by the government – Post-election comments.

– (KR) Conservative candidate Yoon Suk-yeol wins the presidential election in South Korea.

(KR) South Korea Fin Min Hong: Will focus on managing inflation and currency issues – (KR) Bank of Korea (BOK): Stubbornly high inflation overshadowing South Korea’s economic recovery should continue for a considerable time.

China/Hong Kong

Hang Seng opened +2.3%; Shanghai Composite opened +1.7%.

– (CN) Shifting profits from PBOC in China to the government is not the equivalent of a reduction in RRR, quotes an analyst from a Chinese brokerage – Chinese Press.

– (CN) China Press: CPI growth should be reasonable in 2022; The GDP growth target of around 5.5% is achievable.

– (CN) China PBOC Open Market Operation (OMO): sells CNY10 B in 7-day reverse repos against CNY10 B previously; Net CNY0B against Net CNY0B before.

– (CN) The Chinese PBOC sets the reference rate for the yuan: 6.3105 against 6.3178 previously.

– (CN) China said it has set aside ~CNY 1.6 billion to improve management of winter wheat fields.

– (CN) S&P: Chinese signaling has indicated that it is likely to drive policy settings.


2330.TW Expected to Raise Prices 10-20%, Boosting 8-Inch Foundry Services from Q3 – Taiwan Press.

– UAE Minister of Energy: The UAE is committed to the OPEC+ agreement and its existing monthly production adjustment mechanism.

– (TW) Taiwan Central Bank (CBC) Gov Yang: Reiterates that consumer prices are controllable in 2022.

North America

(US) House voted to pass a $13.6 billion Ukrainian response and fund US government agencies through September 30.

– AMZN approves a 20-for-1 stock split of the Company’s common stock, effective June 6; Allows redemption of $10 billion (1% of market capitalization) – deposit.

SPOT CFO: Above Plan for Users in Q1; facing a churn of about 1.5 million users due to Russian sanctions.

– (VE) Venezuela Pres Maduro: insists on oil production target of 2 million bpd for 2022 (against 800,000 bpd currently) – TV interview in Venezuela.

TSLA raises prices for US Model Ys by about $1,000 each and some Chinese-made Model 3s and Ys.


– (UK) February RICS house price equilibrium: 79% vs. 72%e.

– (UK) Institute for Fiscal Studies (IFS) releases analysis ahead of spring statement: Changes in inflation outlook since October will add some £11bn to debt. interest bill in 2021-22, and could easily add another £20bn or more next year

Levels from 12:15 a.m. ET

– Hang Seng +0.5%; Shanghai Composite +1.5%; Kospi +1.7%; Nikkei225 +3.8%; ASX 200 +1.1%.

– Equity futures: S&P500 -0.2%; Nasdaq100 -0.4%, Dax -0.7%; FTSE100 +0.3%.

– €1.1078-1.1042; JPY116.19-115.83; AU$0.7326-0.7287; NZD 0.6842-0.6812.

– Commodity futures: gold -0.2% to $1,985/oz; Crude Oil +2.2% to $111.09/brl; Copper +0.6% to $4.62/lb.