Market Brief – 09Mar – Asian

Posted: 09 Mar 2010, 6:44pm (TRADING: Notes)


China Adds Clarity to Potential Exchange Rate Flexibility

Japan Jan leading index rose 2.4 points, coincident index up 2.5 points.

UK Feb RICS house price balance jumped to 17 vs. 30 exp lowest since Aug “09, prior Jan reading 31.

UK Feb BRC like-for-like retail sales 2.2% y/y vs.Jan -0.7%, lowest in survey history, while Feb total sales 4.5%.

Australia Feb NAB business conditions index rose to 8, confidence climbed 19, Jan 3, 15.

Australia Feb job ads 19.1% m/m, highest in yr, newspaper 13.1%, internet 19.6%.

According to a UK Times poll Labor-Tories are currently neck-neck in marginal seats.

Wall Street Journal states that Moody’s sees UK bank bailout wind-down could trigger UK bank ratings cuts.

In China, SAFEs Yi Gang states that reserves are appropriately diversified in USD, EUR, JPY and emerging ccys and reiterates yesterdays Wen comment on the CNY exchange rate policy.

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