Japan
NKY-0.81%, TPX -0.45%
NKY fell as the yen strengthened on speculation the Fed will print money to bolster the economy and on renewed European sovereign-debt risk. Turnover on the TPX rose to 1.04 trillion yen from 1.01 trillion yen yesterday
Stocks fell across most sectors led by tech, consumer, industrials, health care and oil & gas. Banks, real estate, telecom and steelmakers rose
Exporters fell as the yen strengthened on speculation the Fed will print money to bolster the economy and on renewed European sovereign-debt risk: autos -1.13%, CE -0.43%, precision -0.57%
Iron & steel +1.46% as benchmark hot-rolled coil prices in China rose 3.5% as steelmakers in Hebei province shut mills after the local government limit electricity supply to reach power efficiency targets
REITs 0.00% after report the government may revise the regulation to allow REITs to retain more than 10% of their earnings to finance operations after the market shrank by more than half in the past three years
Traders -1.09% after crude oil price fell
Best performing sectors on the TPX: iron & steel +1.46%, airline +0.63%, other financing +0.53%; underperforming sectors: rubber products -1.58%, nonferrous metals -1.51%, traders -1.09%
Hong Kong
HSI +0.22%; HSCEI +0.04%
Stocks rose as steelmakers advanced with mainland move to curb overcapacity. Turnover on the HSI fell to HK$26.51B from HK$30.89B yesterday
Steel names rose. The benchmark hot-rolled coil prices in China rose 3.5% as steelmakers in Hebei province shut mills after the local government limit electricity supply to reach power efficiency targets
Appliances rose after report China sold 17.1B yuan of home appliances in August under the countrys rural appliances stimulus program, +126% YoY
China
SHCOMP +0.08%; SZCOMP +0.69%
SHCOMP rose led by steelmakers after report steelmakers in Hebei province shut mills after the local government limit electricity supply to reach power efficiency targets. Turnover on the SHCOMP rose to 157.70 B yuan from 144.06B yuan yesterday
Stocks were mixed. Tech, materials, industrials, consumer and telecom rose while financials, oil & gas, utilities and health care fell
Iron & steel +1.51%. The benchmark hot-rolled coil prices in China rose 3.5% as steelmakers in Hebei province shut mills after the local government limit electricity supply to reach power efficiency targets
Autos +1.49%. Talks that the 12th 5-year green auto reform will soon be announced. It aims to promote green car parts, including battery business R&D and increase electric charging stations
Banks -0.91%. CBRC is drafting a plan to require banks to maintain reserves of 2.5% of total loans, mainland media reported. CBRC will discuss the plan with the nation's bank before possibly implementing by the end of year. The regulator currently doesnt require banks to keep a ratio of their total loans as reserves. Instead, it requires them to maintain reserves of at least 150% of NPL. The nations lenders had an average coverage ratio of 186% at the end of June
Insurers -0.88% after recent rally
