Asian markets see modest moves ahead of upcoming central bank decisions and earnings

General trend

- Asian equities trade generally higher after recent US gains.

- Nikkei is trading higher [Topix Air Transportation and Iron & Steel indices have outperformed after earnings].

- Japan corporate earnings remain in focus [ANA and Tokyo Steel rise; Canon Inc is due to report later today].

- Shanghai Composite rose during the morning session [Consumer Discretionary index rises as China is planning measures to increase consumption during the May holiday; Healthcare index and vaccine producers outperform ].

- Hang Seng is trading near the opening level [HK TECH index is off of the best levels; Property developers trade generally lower; Huarong Asset Mgmt’s USD bonds decline amid continued delay in reporting financials; Great Wall Motor drops after commenting on chip shortage].

- HSBC to issue Q1 results on Tuesday (April 27th).

- S&P ASX 200 has lagged, the index is currently near flat [Consumer indices underperform, travel-related cos. decline amid news related to NZ travel bubble; Resources index rises as China iron ore prices hit record high; Financials index also gains; NIB Holdings rises on guidance ].

- Posco raised FY21 guidance.

- Quiet session thus far for US equity FUTs.

- BOJ is due to release rate decision and economic forecasts on Tuesday (April 27th).

- Companies due to report during the NY morning include Albertson’s, Check Point Software, Lennox International, Otis Worldwide.

Headlines/Economic data

Australia/New Zealand

- ASX 200 opened 0.0%.

- WBC.AU Guides H1 Cash profit to be reduced by A$282M on notable items.

- (UK) UK and Australia expected to sign FTA in early June - UK press.

Japan

- Nikkei 225 opened +0.3%.

- (JP) Japan LDP Ruling party lost 3 parliament election races to the opposition - Press.

- 6502.JP Investor, 3D (7.2% stake), has called for a strategic review after CVC bid.

Korea

- Kospi opened +0.2%.

- 005490.KR Reports Q1 (KRW) Net 1.02T v 0.43T y/y; Op 1.07T v 0.71T y/y; Rev 7.8T v 14.6T y/y; raises FY guidance

- 096770.KR SK IE Technology (battery material unit) is expected to price IPO at KRW105,000 [top-end of range], expected to raise KRW2.25T - US financial press

China/Hong Kong

- Hang Seng opened +0.1%; Shanghai Composite opened +0.3%.

- (CN) PBOC Dep Gov Fan Yifei: PBOC will continue to crack down on cross-border gambling, said dealing with cross-border gambling is a long-term task - US financial press (update).

- (CN) China Academy of Social Sciences (CASS) sees 2021 GDP ~8%; USD/CNY exchange rate may have 2-way move around 6.40-6.50 - China press.

- (CN) Beijing Education Commission noted violations related to 4 companies (GSX, TAL Education, Youdao, Yuanfudao), the companies were told to fix the issues immediately.

- (CN) China PBOC sets Yuan reference rate: 6.4913 v 6.4934 prior.

- (HK) Hong Kong-China southbound bond trading may start in July - HK press.

- 9618.HK Said to have paid salaries in Digital CNY as a trial of the PBoC Digital currency initiative - Press.

Other

- (SG) Singapore and Hong Kong expected to announce their travel bubble today, which would go into effect May 26th (prior Nov) – press.

North America

- (US) China General Administration of Customs added additional 31 US pork, beef, poultry production facilities and cold storage plants to qualified import list - press.

- (US) President Biden to attend G7 and will call on allies to increase pressure on China to stop forced labor in Xinhiang - press.

Europe

- (EU) EU Chief: Will allow COVID vaccinated US tourists visit this summer – press.

- (IT) Italy Govt signed off on ~€192M package of invest and reforms that will be financed by EU €800B post-pandemic recovery fund Saturday (largest beneficiary of the EU stimulus program).

- (UK) BOE's Broadbent: Sees very rapid growth over the next couple of quarters - financial press.

Levels as of 01:15ET

- Hang Seng +0.0%; Shanghai Composite +0.2%; Kospi +0.7%; Nikkei225 +0.5%; ASX 200 -0.1%.

- Equity Futures: S&P500 +0.1%; Nasdaq100 0.0%, Dax +0.1%; FTSE100 +0.2%.

- EUR 1.2117-1.2088; JPY 107.96-107.66; AUD 0.7781-0.7739; NZD 0.7222-0.7188.

- Commodity Futures: Gold +0.1% at $1,780/oz; Crude Oil -0.6% at $61.77/brl; Copper +1.1% at $4.39/lb.