Economic Data
(SG) Monetary Authority of Singapore (MAS) Survey: Lowers 2012 GDP growth outlook to 2.5% from 3.0% Dec view
(KR) SOUTH KOREA FEB EXPORT PRICE INDEX M/M: -0.6% V 1.1% PRIOR; Y/Y: 2.1% V 4.6% PRIOR; IMPORT PRICE INDEX M/M: 0.5% V 0.8% PRIOR; Y/Y: 5.2% V 7.9% PRIOR
(KR) SOUTH KOREA JAN CONFERENCE BOARD LEADING ECONOMIC INDEX: 0.0% V 0.5% PRIOR
(SG) SINGAPORE FEB ELECTRONIC EXPORTS Y/Y: 23.3% V 13.9%E; NON-OIL DOMESTIC EXPORTS M/M: 6,2% V 5.0%E; Y/Y: 30.5% V 16.2%E
(JP) BANK OF JAPAN (BOJ) FEB 13-14TH MEETING MINUTES: ALL: AGREE TO INCREASE ASSET PURCHASES THROUGH BUYING JGBS
(CL) CHILE CENTRAL BANK LEAVES NOMINAL INTEREST RATE AT 5.00%; AS EXPECTED
(JP) JAPAN JAN FINAL LEADING INDEX: 94.4 V 94.9 PRELIM; COINCIDENT INDEX: 93.0 V 93.1 PRELIM
(CO) Colombia Jan Trade Balance: $479M v $975Me
Markets Snapshot (as of 04:30GMT)
Nikkei225 -0.1%
S&P/ASX -0.1%
Kospi -0.1%
Taiwan Taiex -0.2%
Singapore Straits Times -0.1%
Shanghai Composite +0.4%
Hang Seng -0.2%
S&P Futures -0.1% at 1,395
April gold +0.1% at $1,660/oz
May Crude +0.4% at $106.06
Overview/Top Headlines
Markets were mixed today with little conviction for a direction despite the S&P500 closing above 1,400, the highest level since June 2008. Only the Shanghai Composite stayed steadily in positive territory. Japanese exporters fell today after several days of gains as the yen strengthened a bit to ¥83.30 against the dollar. Singapore started the session off higher, S$ was little changed against the Greenback. Singapore's exports bounce back in February rising higher than exports, Non-oil domestic exports also rose higher than expected. Weakness in January was attributed to holiday celebrated with major export partners. Samsung Electronics CEO warned that he expected slower growth in electronics this year with increasing rivalry in the industry. Currencies also lacked strong direction for the session, with slight dollar weakness generally. Copper and silver declined again lows of $3.88 and $32.42 respectively. Late in the session Fed's Lacker commented that under the current assessment an increase in rates likely necessary in 2013; exceptionally low rates will not be required through 2014.
Speakers/Geopolitical/In the press
(JP) Japan BoJ Gov Shirakawa: Does not believe Japanese regional banks are taking excessive interest rate risks
USD/CNY: (CN) China Vice Commerce Min Chen Jian: Yuan has appreciated 'too much' recently and needs to 'fall back' following recent gains
(AU) Australia Opposition Finance Spokesman Andrew Robb: China's economic boom will not last forever; Australia needs to diversify - The Australian
(JP) Japan's Finance Ministry (MoF) said investors expect JGB yields to move higher in the near term - US financial press
(UK) UK govt to cut income taxes for the country's top earners from 50% to 40% as part of next week's budget announcement - Guardian
(CN) Economists at BBVA, Nomura, and CICC noting PBoC is more likely to cut key interest rates after yesterdays FDI data - SCMP
(US) US Treasury Sec Geithner: There is no quick fix for higher gasoline prices; Reflects uncertain times in the world
(MX) Mexico and Brazil come to terms on auto trade, car trade limit to be lifted after 3-yr break; Resume free trade agreement after 3 year break
Equities
MQG.AU: Deputy CEO: Does not expect rating downgrades from Moody's and Fitch to impact bank's access to international capital markets - The Australian
NAB.AU: US unit, Greater Western Bank, has acquired the First Federal Savings Bank for A$39.5M - Australian Financial Review
PWRD: Reports Q4 $0.87 (adj) v $0.43 y/y, R$123.4M v $89.8M y/y; declares special dividend of approx $2.00/ADS; +27.1% after hours