ASIA-PAC MARKET WRAP: Asia mixed after Wall St's pullback and as region digests mixed Chinese Trade Data

Asia equity markets are mixed after having somewhat shrugged off the pullback in US stocks from record levels, although upside is also capped as the region digests the latest Chinese trade figures. ASX 200 (+0.2%) and Nikkei 225 (+0.3%) are mildly positive with Australia underpinned by defensive stocks, while Nikkei 225 is led by strength in index heavyweight Fast Retailing after the Co. reported its FY net more than doubled. Elsewhere, Shanghai Comp. (Unch.) and Hang Seng (-0.2%) are indecisive after the PBoC skipped open market operations but then offered funds via its MLF facility and as participants mull over mixed Chinese trade data.

In FX markets, major currencies are relatively range-bound to provide some respite from the prior session’s moves, especially in GBP/USD which fluctuated amid an ongoing impasse and chatter regarding Brexit negotiations. Elsewhere, AUD is mildly higher following mixed Chinese trade data where Trade Balance and Exports disappointed but Imports surpassed estimates, while SGD was choppy with early strength from a stellar Q3 GDP report instantly reversed after the MAS kept its FX based policy unchanged.

Finally, 10yr JGBs are flat with demand sapped amid a positive risk tone in Japan and ahead of an enhanced liquidity auction for longer-dated JGBs.

13 Oct 2017 - 03:18- Important- Source: RANsquawk

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