Int'l - 2/24/21

 Int'l Update - Date mostly from Briefing.com with some adds. Indices as of 8 am.

Never thought about the fact that Japanese government is sitting on big gains in its ETF purchases.

Asia

Equity indices in the Asia-Pacific region ended the midweek session on a lower note outside of India which finished up strongly. Japan's Nikkei: -1.6% Hong Kong's Hang Seng: -3.0% China's Shanghai Composite: -2.0% India's Sensex: +2.1% South Korea's Kospi: -2.5% Australia's ASX All Ordinaries: -0.9%.

In economic data: 

- Japan's January BoJ Core CPI -0.3% yr/yr (last -0.3%)

- South Korea's March Manufacturing BSI Index 83 (last 84)

- Australia's Q4 Construction Work Done -0.9% qtr/qtr (expected 1.0%; last -2.6%). Q4 Wage Price Index 0.6% qtr/qtr (expected 0.3%; last 0.1%); 1.4% yr/yr (expected 1.1%; last 1.4%)

- Hong Kong's Q3 GDP 0.2% qtr/qtr, as expected (last 2.8%); -3.0% yr/yr, as expected (last -3.5%)

In news: Japan's Finance Minister Aso said that additional fiscal stimulus is not being considered at this time. Japan’s Suga: To Decide Fri. Whether To End Virus Emergency. BoJ’s Kuroda: Premature To Discuss How BoJ Could Realize, Make Use Of, Huge Potential Capital Gains On Its ETF Holdings; Bond Buying Has Slowed Significantly As Markets Remain Calm, BoJ Is Buying Medium-, Long- And Super-Long JGBs In A Balanced Manner To Keep Yield Curve Stably Low. South Korea's extra budget is expected to be submitted to the country's parliament next Thursday. Hong Kong's stamp duty on stock trades will be increased to 0.13% from 0.10% which caused a sharp selloff in markets there. The Reserve Bank of New Zealand left its official cash rate at 0.25%, as expected. The central bank made no changes to its asset purchase plans and withdrew its rate path guidance.

Europe

Major European indices trade on a modestly higher note while Germany's DAX (+0.9%) outperforms. STOXX Europe 600: +0.5% Germany's DAX: +0.9% U.K.'s FTSE 100: +0.3% France's CAC 40: +0.2% Italy's FTSE MIB: +0.5% Spain's IBEX 35: +0.5%.

In economic data: 

- Germany's Q4 GDP 0.3% qtr/qtr (expected 0.1%; last 8.5%); -2.7% yr/yr (expected -2.9%; last -3.9%)German Private Consumption (Q/Q) Q4: 3.3% (est -1.5%; prev 10.8%)German Government Spending (Q/Q) Q4: -0.5% (est -0.6%; prevR 0.6%; prev 0.8%)German Capital Investment (Q/Q) Q4: 1.0% (est 1.9%; prevR 3.9%; prev 3.6%)




- French Business Confidence Feb: 90 (est 92; prevR 91; prev 92); French Manufacturing Confidence Feb: 97 (est 99; prevR 96; prev 98); French Production Outlook Indicator Feb: -8 (est -6; prevR -10; prev -9); French Own-Company Production Outlook Feb: 10 (est 10; prevR 8; prev 7)



- Swiss February ZEW Expectations 55.5 (last 43.2)

In news:U.K.'s stamp duty holiday and the recent furlough scheme will be extended until the end of June. Denmark will loosen some of its restrictions in March. The European Union will postpone the ratification of its trade deal with the U.K. until April 30. A consortium led by Italy's state lender offered to purchase the country's highway operator Autostrade for about EUR9 bln. Swiss To Reopen Shops, Museums, Outdoor Sports From March 1. EU PM's discuss vaccine passports. Spanish PM:  Will Approve In Coming Weeks An EUR11Bln Package Help For Companies

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