Asia Daybook28/01/2013ASIA DAYBOOK: Japan GDP Outlook, Abe, China Cosco, Fanuc, Takeda 5:06
Today: Australia, Malaysia closed for holidays. Earnings from KDDI, Hitachi Chemical, JSW Steel.


WHAT TO WATCH:
• Japan’s Abe gives speech to parliament on economic strategy; a “key adviser” tells WSJ that further weakening of yen to 95 vs USD may be desirable
• Japan is expected today to raise GDP growth forecast for coming FY to 2.5%, Tokyo media report
• Chinese industrial profits rose for 4th month in Dec.; separately, PBOC dep. governor calls banks’ 2013 outlook for profit growth “grim”
• China Cosco warns of “substantial” 2012 loss; Shanghai reaction may be limited by exchange; watch H.K. listing
• Japan’s nuclear regulator reports findings on faults under a reactor that led to drop in utilities shrs last month
• Fanuc cut forecast for FY oper. profit just before mkt close on Fri.; view is below consensus est.
• RBI releases economic report ahead of tomorrow’s expected rate cut
• Takeda won U.S. approval for its new diabetes drug after two rejections in past 5 yrs
• Diageo is poised to announce delay in takeover of United Spirits, reports Sunday Telegraph, without citing anyone; note negative implication for Kingfisher

ECONOMY (Hong Kong time):
• 5am: South Korea Jan. Consumer Confidence at 102 (prior 99)
• 5:30am: New Zealand Dec. Performance Services Index at 51.5; no est. (prior 54.1)
• 7:50am: Japan Dec. Corporate Services Price Index Y/y; est. -0.5% (prior -0.4%)
• 4pm: Taiwan Dec. Coincident Index M/m; no est. (prior 0.4%)
• 4pm: Taiwan Dec. Leading Index M/m; no est. (prior 0.8%)
• TBA: Macau Dec. Unemployment Rate; no est. (prior 1.9%)
• TBA: Thailand Dec. Manufacturing Production Index ISIC Y/y; est. 32.30 (prior 83.3)
• TBA: Thailand Dec. Manufacturing Production Index ISIC SA; no est. (prior 192.53)
• TBA: Thailand Dec. Total Capacity Utilization ISIC; no est. (prior 68.6)

CENTRAL BANKS (Hong Kong time):
• 7:30pm: RBI releases 3Q review

GOVERNMENT (Hong Kong time):
• Japan’s parliament opens midday for first session under Abe’s leadership
• Myanmar’s Aung San Suu Kyi visits South Korea
• 10am: Singapore Economic Development Board annual briefing
• 10am: IMF conference, Bangkok
• 11am: Japan’s former Ambassador to China Uichiro Niwa press briefing, Tokyo

EARNINGS (Hong Kong time, with est.):
• Adani Ports (ADSEZ IN) 3Q net income adj. median parent 3.65b rupees (12 analysts)
• Bank of India (BOI IN) 3Q net income adj. median parent 7.86b rupees (36 analysts)
• Daelim Industrial (000210 KS) FY
• Hitachi Chemical (4217 JP) 3Q oper. profit 6.9b yen (6 analysts) 2pm
• JSW Steel (JSTL IN) 3Q net income adj. median group 2.51b rupees (16 analysts)
• JSR (4185 JP) 3Q oper. profit 9.1b yen (8 analysts) 12pm
• KDDI (9433 JP) 1H 2pm
• Reliance Infrastructure (RELI IN) 3Q net income adj. median parent 3.37b rupees (7 analysts)
• Samsung C&T (000830 KS)
• Samsung Engineer (028050 KS) FY

BOND SALES (Hong Kong time):
• 10:30am: Korea to 600b Won 20-Yr Bonds
• 12pm: Singapore to Sell S$2b 91-Day Bills
• 12pm: India to sell 60b-70b Rupees 10-14-yr bonds
• 12pm: India to sell 20b-30b Rupees 15-19-yr bonds
• 12pm: India to sell 30b-40b Rupees 5-9-yr bonds

IPO WATCH:
• Comforia Residential REIT to price 46,500 shrs at 540,000-550,000 yen
• Industrial & Infrastructure Fund (3249 JP) may price IPO

CORPORATE EVENTS/CONFERENCES (Hong Kong time):
• 10:30am: CME Group on RMB risk-management products, Hong Kong
• 11am: Toyota, Nissan, and Honda 2012 global production figures
• 11am: Lombard Odier holds media briefing on Asia market and investment outlook, Hong Kong
• 1pm: Japan Iron and Steel Federation monthly presser, Tokyo
• 2:30pm: LGT roundtable on Asia private banking, Hong Kong
• 3pm: JPMorgan Asset Management announces findings of latest investor confidence index
• 3:30pm: Sands China press briefing, Macau
• Analyst/investor meetings/calls: KDDI (9433 JP), JSW Steel (JSTL IN), JSR (4185 JP)

STOCKS TO WATCH
• Greater China Highlights
• Dongfeng Motor (489 HK): Volvo agrees to pay $890m for minority stake in Chinese co.’s commercial vehicle unit
• Zhejiang Geely (175 HK): May buy remaining 80% of Manganese Bronze for 2.7m pounds, SCMP reports
• Sands China (1928 HK): Press conference in Macau, 3:30pm
• India Highlights
• Suzlon Energy (SUEL IN): Wind turbine installations will probably stall in 2013, chairman says
• GTL Infrastructure (GTLI IN): Said to be in discussions with lenders to move some debt to affiliate
• Steel Authority (SAIL IN): Govt to consider sale of stake after earnings report next month, Press Trust of India reports
• Sun Pharmaceutical (SUNP IN): AbbVie sues, claiming infringement Zemplar patent
• United Spirits (UNSP IN): Diageo to delay deal for majority stake to discuss with regulator, Sunday Telegraph reports
• Japan Highlights
• Advantest (6857 JP): To miss FY oper. profit forecast, Nikkei reports
• Aeon (8267 JP): Is said to weigh bid for Indonesian retailer Matahari, Reuters says; Aeon denies report
• Fanuc (6954 JP): Cuts FY oper. profit forecast 13% to 178b yen
• Takeda (4502 JP): FDA approves diabetes drug to succeed Actos
• South East Asia Highlights
• Fraser & Neave (FNN SP): Chairman, 3 directors agree to sell shares to TCC Assets
• Singapore Telecom (ST SP): Among bidders for Myanmar telecom licenses

MARKETS:
• S&P 500 up 0.5% to 1,502.96
• Stoxx Europe 600 up 0.3% to 289.72
• U.S. 10-year yield 1.949%
• Brent futures unchanged at $113.28/bbl
• April gold futures down 0.8% to $1,685.80/oz

(Source : Bloomberg)
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