Quiet Day in Asia with Mixed Stock Markets Following Previous Volatility

Summary:

• Asian markets experienced a calm day with varied performances in equities after a tumultuous week.
• The Nikkei, which saw a 5.5% gain last week, took a pause today.
• The People’s Bank of China’s Yuan fix back in the 7.09 range eased concerns of further Yuan weakening.
• China made headlines by blocking the use of AMD and Intel chips for government purposes.
• Japan’s Monetary Policy Meeting Minutes from January kept all the information the same.
• Japan’s currency chief voiced concerns about the low yen.
• The New Zealand dollar fell to a four-month low.
• US equity futures showed slight declines during Asian trading hours.

Key Events:

• Monday: Speech by ECB President Lagarde.
• Tuesday: AU Consumer Confidence, DE Consumer Confidence.
• Wednesday: AU February CPI.
• Thursday: JP BOJ March meeting SOMP, AU Retail Sales, US Final Q4 GDP.
• Friday: JP February Industrial Production & Retail Sales, US February Core PCE & Fed Chair Powell speech.

Holiday Schedule:

• Monday: India.
• Thursday: Malaysia, Philippines.
• Friday: Australia, Hong Kong, India, Indonesia, New Zealand, Philippines, Singapore.

Major Headlines:

• Australian government considering minimum wage tied to inflation.
• Japan discussing strengthening joint military cooperation with the US.
• China blocks AMD and Intel chips for government use.
• The IMF Managing Director highlights a pivotal moment for China’s growth.
• Sinopec reports fiscal year earnings.
• US Treasury Secretary Yellen will visit China in April.
• Singapore and Malaysia report CPI data.
• Germany’s IFO business climate index rises.
• ECB and BOE policymakers make remarks on potential rate cuts.

Market Levels:

• Nikkei 225 down 0.5%, ASX 200 up 0.6%, Hang Seng up 0.5%, Shanghai Composite up 0.4%, Kospi down 0.7%.
• S&P500 Futures flat, Nasdaq100 down 0.1%, Dax flat, FTSE100 flat.
• Currencies: EUR, JPY, AUD, NZD in specified ranges.
• Commodities: Gold up 0.5%, Crude Oil up 0.6%, Copper up 0.8%.

This summary provides an overview of the day’s events and market movements across Asia.