Tuesday, April 23, 2013

(BN) Japan Stock Futures Little Changed as Investors Await China Data

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Japan Stock Futures Little Changed as Investors Await China Data
2013-04-22 23:11:45.779 GMT


By Adam Haigh
April 23 (Bloomberg) -- Japanese stock futures were little
changed, indicating the Nikkei 225 Stock Average may halt a two-
day advance, after the yen gained for the first time in five
days and investors await a Chinese manufacturing report.
Australian equity futures rose.
American Depositary Receipts of Trend Micro Inc., an
internet security software maker that gets more than half its
sales outside Japan, slid 1.6 percent from yesterday's closing
price in Tokyo as the yen failed to weaken through 100 per
dollar. ADRs of Woodside Petroleum Ltd., Australia's second-
largest oil producer, rose 1 percent as crude climbed for a
fourth day, the longest streak of gains in a month.
Futures on Japan's Nikkei 225 Stock Average expiring in
June traded at 13,595 in Chicago yesterday compared with 13,580
at the close in Osaka, Japan. They were bid in the pre-market at
13,590 in Osaka at 8:05 a.m. local time. Futures on Australia's
S&P/ASX 200 Index advanced 0.3 percent.
"After a nine-month surge, markets are trending sideways
now," said Matthew Sherwood, Sydney-based head of markets
research at Perpetual Investments, which manages about $25
billion. "The thrust from central bank liquidity is beginning
to wane and the anemic growth environment is starting to
reassert its influence."
HSBC Holdings Plc's so-called flash Purchasing
Manufacturing Index is forecast to drop to 51.5 in April from
51.6, according to the median of 11 estimates surveyed by
Bloomberg ahead of the report on Chinese manufacturing growth to
be released today.

Nikkei Surges

Japan's Nikkei 225 surged 60 percent in the past nine
months, accelerating since November as Prime Minister Shinzo Abe
and central bank Governor Haruhiko Kuroda pledged to defeat 15
years of deflation. The yen gained 0.3 percent yesterday to
99.23, the first increase in five days. The currency traded at
99.33 per dollar at 7:50 a.m. in Tokyo.
The MSCI Asia Pacific Index, the benchmark regional
equities gauge, has rallied 20 percent in the past nine months.
That left the gauge yesterday trading at 14 times average
estimated earnings compared with 14.1 for the Standard & Poor's
500 Index and 12.4 times for the Stoxx Europe 600 Index,
according to data compiled by Bloomberg.
Futures on the Standard & Poor's 500 Index were little
changed. The gauge climbed 0.5 percent yesterday as Caterpillar
Inc. jumped and a rally in commodity prices spurred energy and
raw-material producers.
The Bloomberg China-US Equity Index of the most-traded
Chinese shares in the U.S. climbed 0.5 percent in New York
yesterday. West Texas Intermediate crude oil rose 0.2 percent in
New York.

For Related News and Information:
Top stock-market news: TOP STK <GO>
World equity valuations: WPE <GO>
World equity index monitor: WEI <GO>
Most-read stock market stories: MNI STK <GO>
Developed markets overview: DMMV <GO>

--Editor: John McCluskey

To contact the reporter on this story:
Adam Haigh in Sydney at +61-2-9777-8635 or
ahaigh1@bloomberg.net

To contact the editor responsible for this story:
Nick Gentle at +852-2977-6545 or
ngentle2@bloomberg.net

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