Asia Daybook25/01/2013ASIA DAYBOOK: Samsung Earnings, BOJ Minutes, Olam Bond Sale 4:57
Today: BOJ Dec. meeting minutes, Japan CPI, Singapore factory output; earnings from Samsung Electronics, Fanuc and Maruti Suzuki.
WHAT TO WATCH:
• Apple plunged after yesterday’s earnings fueled concern about competition with Samsung, which reports today
• Olam, targeted by short-seller Carson Block, says it passed a test of confidence with a $712.5m bond sale
• Keppel 4Q profit fell 22% as competition with Chinese shipbuilders rose; CEO sees acquisition opportunities
• Nomura is said to be considering closing Angel Lane Principal strategies
• Suzlon Energy lenders approved a $1.8b debt restructuring and two-year moratorium on principal and interest
• German Chancellor Merkel sees risks in Japan’s call for easing and cash unleashed to stem Europe’s debt crisis
• Thailand’s finance minister says the central bank should avoid fighting market forces, heeding lesson of 1997 crisis
• Focus Media said its cooperating with an SEC investigation into potential “violations” of securities law
• Zhang Zhirong gives up controlling stake in China Rongsheng Heavy
• Boeing Dreamliner design should have prevented battery incidents, NTSB chairman says
• U.S. says North Korea’s nuclear threat is “needlessly provocative” and will lead to further isolation and sanctions

ECONOMY:
• 7:30am: Japan Dec. CPI Y/y; est. -0.2% (prior -0.2%)
• 7:30am: Japan Dec. CPI Excl. Fresh Food Y/y; est. -0.2% (prior -0.1%)
• 7:30am: Japan Dec. CPI Excl. Food, Energy Y/y; est. -0.5% (prior -0.5%)
• 7:30am: Tokyo Jan. CPI Y/y; est. -0.6% (prior -0.6%)
• 7:30am: Tokyo Jan. CPI Excl. Fresh Food Y/y; est. -0.5% (prior -0.6%)
• 7:30am: Tokyo Jan. CPI Ex Food, Energy Y/y; est. -0.9% (prior -1%)
• 9am: Philippines Nov. Trade Balance; no est. (prior -$832M)
• 9am: Philippines Nov. Total Monthly Imports; no est. (prior $5239.9M)
• 9am: Philippines Nov. Total Imports Y/y; no est. (prior 4.3%)
• 9:35am: China MNI Jan. Business Sentiment Indicator
• 1pm: Singapore Dec. Industrial Production M/m SA; est. -0.7% (prior 1.9%)
• 1pm: Singapore Dec. Industrial Production Y/y; est. -4.8% (prior 3.1%)
• 3:30pm: Thailand Foreign Reserves as of Jan. 18; no est. (prior $182.3b)
• 3:30pm: Thailand Forward Contracts as of Jan. 18; no est. (prior $23.2b)
• 4:20pm: Taiwan Dec. Money Supply M1B Daily Avg Y/y; no est. (prior 3.65%)
• 4:20pm: Taiwan Dec. Money Supply M2 Daily Avg Y/y; no est. (prior 3.26%)

CENTRAL BANKS:
• 7:50am: BOJ Dec. Meeting Minutes
• 9:30am: Monetary Authority of Singapore Assistant Managing Director Edward Robinson, IMF representative Ravi Balakrishnan, World Bank Manager Andrew Burns speak at event in Singapore
• 11:30am: BOJ Governor Masaaki Shirakawa speaks at Japan National Press Club

GOVERNMENT (Hong Kong time):
• 7am: NZ prime minister gives economic strategy plan in speech
• 9:30am: World Bank press briefing in Singapore
• 10am: Xi Jinping meets head of Japan’s New Komeito Party delegation, Beijing
• 10am: China Labor Ministry 4Q press briefing

EARNINGS (Hong Kong time):
• Fanuc (6954 JP) 3Q oper. profit 47.7b yen (4 analysts) 2:30pm
• Hitachi High-Technologies (8036 JP) 3Q oper. profit 4.0b yen (3 analysts) 2:30pm
• Hyundai Engineering & Construction (000720 KS) FY
• Kia Motors (000270 KS) FY
• Maruti Suzuki (MSIL IN) 3Q net income adj. parent median 4.84b rupees (35 analysts)
• Reliance Power (RPWR IN) 3Q net income adj. group median 2.43b rupees (10 analysts)
• Samsung Card (029780 KS) FY
• Samsung Electronics (005935 KS) FY
• Samsung Techwin (012450 KS) FY
• Shriram Transport (SHTF IN) 3Q net income adj. parent median 3.56b rupees (19 analysts)

BOND SALES:
• 12pm: Malaysia to Sell 80m Ringgit 91-Day Bills
• 12pm: Malaysia to Sell 100m Ringgit 364-Day Bills

IPO WATCH:
• Casetek Holdings 24.84m shrs at NT$90
• Iones to price 2.2m shrs at 4,300-4,800 won

CORPORATE EVENTS/CONFERENCES (Hong Kong time):
• HCL Technologies at World Economic Forum
• 10:30am: BNY Mellon Asset Management Japan press briefing, Tokyo
• 11am: Daiwa Securities press briefing on Japan govt bonds, Tokyo
• 11am: Hong Kong shippers’ press briefing
• 12pm: China Cosco press briefing on strategy
• 12:30pm: Seminar on credit and finance for manufacturing small and medium-sized businesses, New Delhi
• 1pm: Merrill Lynch retail industry seminar, Tokyo
• 1:30pm: Kansai Electric president press briefing, Tokyo
• Thailand Development Research Institute seminar on economy, Bangkok
• 2:30pm: Sun Hung Kai Properties co-chairmen Kwoks appear in court, Hong Kong
• 2:30pm: Maybank Philippines press briefing on corporate center opening, Manila
• 5:30pm Mizuho Research Institute press briefing on economy, Tokyo
• Analyst/investor meetings: Hyundai Motor (005380 KS), Samsung Electronics (005930 KS), Kia Motors (000270 KS), Sesa Goa (SESA IN)
• AGM:
• Airports of Thailand (AOT TB)

STOCKS TO WATCH
• Greater China Highlights
• Lenovo (992 HK): RIM among potential acquisition targets, CFO says
• India Highlights
• Suzlon Energy (SUEL IN) lenders approved a $1.8b restructuring and two-year moratorium on principal and interest
• Japan Highlights
• KDDI (9433 JP): iPhone sales above target, Nikkei says, citing president; ADRs gain
• Nidec (6594 JP): ADRs fell after profit forecast cut, while analysts maintained five buy or outperform ratings, two neutral
• Nippon Steel (5401 JP): Agrees to 4% price cut for steel supplied to Toyota (7203 JP), Nikkei reports
• South East Asia Highlights
• Keppel (KEP SP) 4Q profit fell 22% as competition with Chinese shipbuilders rose; CEO sees acquisition opportunities
• Tenaga Nasional (TNB MK): 1Q net 1.42b ringgit vs restated 74.1m loss yr earlier

MARKETS:
• S&P 500 unchanged at 1,494.82
• Stoxx Europe 600 up 0.2% to 288.89
• U.S. 10-year yield up 2.7 bps to 1.851%
• Brent futures up 0.4% to $113.23/bbl
• Feb gold futures down 1.1% to $1,667.60/oz

(source : bloomberg)
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