Derivati USA: CME-CBOT-NYMEX-ICE Tbond,Tnote,Bund&CO-giu/lug2006: fuga dai Bonds (vm18) (1 Viewer)
- Creatore Discussione f4f
- Data di Inizio
Fleursdumal
फूल की बुराई
orca pupazza andrè vedo ora, me lo studio un pò sti due gg , il livello 175 pare ottimale 
avevo aperto un short supplettivo sul T-bronx sperando nel discesone, invece stanno tenendo bene i 107,75, tra un pò sarò costretto a mollare in barbonaggio , overweek secco vietatissimo
avevo aperto un short supplettivo sul T-bronx sperando nel discesone, invece stanno tenendo bene i 107,75, tra un pò sarò costretto a mollare in barbonaggio , overweek secco vietatissimo
ditropan
Forumer storico
Fleursdumal ha scritto:orca pupazza andrè vedo ora, me lo studio un pò sti due gg , il livello 175 pare ottimale
avevo aperto un short supplettivo sul T-bronx sperando nel discesone, invece stanno tenendo bene i 107,75, tra un pò sarò costretto a mollare in barbonaggio , overweek secco vietatissimo
Io sono già entrato con 5 a 172 ciccio ... inoltre sovraesposto con 5 short a 429 sul wheat ... lunedì o martedì deciso se chiuderlo o coprirlo con un pari numero su corn di modo da fare spread. Spread w-c secondo ditro è 1:1 almeno da maggio in poi, quindi a riguardo dello spread w-c solo spread di prezzi e non di pesi (come vorrebbe lo spread classico 3:2) ... corollario sugli spread secondo il ditro.
Buon W.E. anche a te bbandito ... assieme a tutta la bbanda ovviamente.
ditropan
Forumer storico
mrcpss ha scritto:
Adesso è ora che consolidi ed inizi la strada verso l'alto ... il fatto che in America sia l'estate più calda da X anni non và visto come un fatto negativo .... più caldo fà più si scadano gli oceani ... più si scaldano gli oceani più si sviluppano uragani ... ergo ... inizia la stagione degli uragani e conseguentemente dell'apprezzamento e della vola sul gas.
... anche se in sè gli uragani non sono poi proprio quella cosa così positiva.
smile
Forumer storico
Fleursdumal ha scritto:orca pupazza andrè vedo ora, me lo studio un pò sti due gg , il livello 175 pare ottimale
avevo aperto un short supplettivo sul T-bronx sperando nel discesone, invece stanno tenendo bene i 107,75, tra un pò sarò costretto a mollare in barbonaggio ,
overweek secco vietatissimo
concordo fleur e chiudo vi auguro un buon week end 116,37
gipa69
collegio dei patafisici
Wall St Wk Ahead: Earnings, Mideast on front burner
By Emily Chasan
NEW YORK (Reuters) - Volatility could be the name of the game this week for the U.S. stock market with the earnings machine running at full tilt and the rising conflict in the Middle East.
So far, second-quarter earnings are shaping up stronger than expected, despite disappointments from some big names in the technology sector. If more strong earnings reports flow in, that could coax some investors back into the stock market, analysts said.
ADVERTISEMENT
Ad Feedback
The wild card, though, is the Middle East.
Oil ended the week above $74 a barrel as Israel's army called up reservists and launched small-scale raids in Lebanon in an effort to stop Hizbollah rocket attacks.
The U.S. economy's health will get more scrutiny from Wall Street this week. Major indicators on tap include existing home sales, consumer confidence, durable goods orders, new home sales and second-quarter gross domestic product.
"The story is going to continue to be earnings and the Middle East," said Fred Dickson, market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon.
Dickson pointed out that "a few more than expected companies have been lifting earnings guidance, so that's providing an injection of some positive energy into the market."
Nevertheless, stocks fell on Friday, wrapping up a volatile week after personal computer maker Dell Inc. warned of a shortfall in quarterly earnings and revenue. The fighting in the Middle East also cast a pall over the market's mood.
For the week, the blue-chip Dow Jones industrial average rose 1.2 percent and the Standard & Poor's 500 Index gained 0.3 percent, while the Nasdaq Composite Index slid 0.8 percent. For the Nasdaq, it was the third straight losing week.
On Friday, the Nasdaq closed at 2,020.39, a 14-month low.
"We're seeing a high degree of investor sensitivity to the situation in the Middle East," Dickson said. "Very few clients seem interested in exploring stock bargains ... and they have not forgotten the market meltdown of 2000 and 2001. Their fear is the Middle East will trigger a similar selling pattern."
Thousands of Lebanese civilians have fled their homes, fearing Israel will invade, while a massive evacuation of Americans and other foreign citizens from Lebanon to Cyprus and Turkey has continued.
The conflict between Israel and Lebanon has driven oil prices higher. At Friday's close, U.S. crude oil for September delivery settled at $74.43 a barrel. A week ago, crude briefly hit a record $78.40 -- the highest price since the New York Mercantile Exchange began trading oil futures in 1983.
A RALLY'S FAST FADE-OUT
Last Wednesday, Federal Reserve Chairman Ben Bernanke touched off an explosive stock market rally when he told the U.S. Senate Banking Committee that he believes core inflation will moderate in the coming quarters. His remarks suggested that the Fed may be nearly done with its two-year cycle of raising interest rates.
Bernanke's comments drove the major U.S. stock indexes up almost 2 percent on Wednesday, giving the blue-chip Dow average its second-best day of the year.
The euphoria did not last long. After flying high on Wednesday, stocks came back to earth and finished lower on both Thursday and Friday.
"The rally in the wake of Federal Reserve Chairman Bernanke's testimony reflected short covering that did not attract any follow-through buying," said Chris Burba, short-term market technician at Standard & Poor's in New York.
"In order for the market to achieve gains in the near term," Burba added, "institutions need to start accumulating and there are no signs of this right now."
EARNINGS OPTIMISM
Earnings expectations for the second quarter have climbed recently as Reuters Estimates now projects S&P 500 earnings grew 10 percent in the second quarter, up from an expected 9.2 percent the previous week.
"We're going to go back to watching the parade of earnings, and we'll hopefully see some companies guide a little bit better than Dell," said Todd Clark, director of stock trading at Nollenberger Capital Partners in San Francisco.
This week, drugmakers Merck & Co. , Schering-Plough Corp. and Bristol-Myers Squibb Co. will report quarterly results. Investors may expect strong earnings from the health sector after biotechnology giant Amgen's quarterly results beat estimates last week, Dickson said.
The energy sector, riding high on record oil prices, may lift the stock market this week. Exxon Mobil Corp. , the world's largest publicly traded oil company, and rival ConocoPhillips will report second-quarter earnings.
Investors will get a feel for the consumer's mood when earnings are reported this week by Kraft Foods Inc. , Amazon.com Inc. and General Motors Corp. .
HOME SALES AND GDP
Wall Street, already concerned about the cooling of the once-hot housing sector, will note two reports this week:
-- On Tuesday, a report on existing home sales is expected to show a drop to an annualized pace of 6.58 million units in June from a pace of 6.67 million in May, according to economists polled by Reuters.
-- On Thursday, a report on new home sales is forecast to show a decline to a seasonally adjusted annual pace of 1.160 million units from 1.234 million units in May.
On Friday, the Commerce Department's estimate of growth in second-quarter gross domestic product is expected to show that the U.S. economy grew at an annual pace of 3.0 percent in the second quarter, down from 5.6 percent in the first quarter.
Rounding out the week's packed economic data calendar will be the Conference Board's July consumer confidence index, due Tuesday, pegged at 104.0, down from 105.7 in June, and the Fed's "Beige Book" report on Wednesday, a look at the regional economies served by the 12 Federal Reserve district banks.
On Thursday, the government will release a report on U.S. durable goods orders for June, forecast up 1.8 percent after a drop of 0.2 percent in May.
On Friday, Wall Street will get the University of Michigan's final reading on its July consumer sentiment index. The forecast is 83.0, down from 84.9 in June.
(Additional reporting by Caroline Valetkevitch and Ellis Mnyandu)
(Wall St Week Ahead runs every week. Questions or comments on this one can be e-mailed to: emily.chasan(at)reuters.com)
By Emily Chasan
NEW YORK (Reuters) - Volatility could be the name of the game this week for the U.S. stock market with the earnings machine running at full tilt and the rising conflict in the Middle East.
So far, second-quarter earnings are shaping up stronger than expected, despite disappointments from some big names in the technology sector. If more strong earnings reports flow in, that could coax some investors back into the stock market, analysts said.
ADVERTISEMENT
Ad Feedback
The wild card, though, is the Middle East.
Oil ended the week above $74 a barrel as Israel's army called up reservists and launched small-scale raids in Lebanon in an effort to stop Hizbollah rocket attacks.
The U.S. economy's health will get more scrutiny from Wall Street this week. Major indicators on tap include existing home sales, consumer confidence, durable goods orders, new home sales and second-quarter gross domestic product.
"The story is going to continue to be earnings and the Middle East," said Fred Dickson, market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon.
Dickson pointed out that "a few more than expected companies have been lifting earnings guidance, so that's providing an injection of some positive energy into the market."
Nevertheless, stocks fell on Friday, wrapping up a volatile week after personal computer maker Dell Inc. warned of a shortfall in quarterly earnings and revenue. The fighting in the Middle East also cast a pall over the market's mood.
For the week, the blue-chip Dow Jones industrial average rose 1.2 percent and the Standard & Poor's 500 Index gained 0.3 percent, while the Nasdaq Composite Index slid 0.8 percent. For the Nasdaq, it was the third straight losing week.
On Friday, the Nasdaq closed at 2,020.39, a 14-month low.
"We're seeing a high degree of investor sensitivity to the situation in the Middle East," Dickson said. "Very few clients seem interested in exploring stock bargains ... and they have not forgotten the market meltdown of 2000 and 2001. Their fear is the Middle East will trigger a similar selling pattern."
Thousands of Lebanese civilians have fled their homes, fearing Israel will invade, while a massive evacuation of Americans and other foreign citizens from Lebanon to Cyprus and Turkey has continued.
The conflict between Israel and Lebanon has driven oil prices higher. At Friday's close, U.S. crude oil for September delivery settled at $74.43 a barrel. A week ago, crude briefly hit a record $78.40 -- the highest price since the New York Mercantile Exchange began trading oil futures in 1983.
A RALLY'S FAST FADE-OUT
Last Wednesday, Federal Reserve Chairman Ben Bernanke touched off an explosive stock market rally when he told the U.S. Senate Banking Committee that he believes core inflation will moderate in the coming quarters. His remarks suggested that the Fed may be nearly done with its two-year cycle of raising interest rates.
Bernanke's comments drove the major U.S. stock indexes up almost 2 percent on Wednesday, giving the blue-chip Dow average its second-best day of the year.
The euphoria did not last long. After flying high on Wednesday, stocks came back to earth and finished lower on both Thursday and Friday.
"The rally in the wake of Federal Reserve Chairman Bernanke's testimony reflected short covering that did not attract any follow-through buying," said Chris Burba, short-term market technician at Standard & Poor's in New York.
"In order for the market to achieve gains in the near term," Burba added, "institutions need to start accumulating and there are no signs of this right now."
EARNINGS OPTIMISM
Earnings expectations for the second quarter have climbed recently as Reuters Estimates now projects S&P 500 earnings grew 10 percent in the second quarter, up from an expected 9.2 percent the previous week.
"We're going to go back to watching the parade of earnings, and we'll hopefully see some companies guide a little bit better than Dell," said Todd Clark, director of stock trading at Nollenberger Capital Partners in San Francisco.
This week, drugmakers Merck & Co. , Schering-Plough Corp. and Bristol-Myers Squibb Co. will report quarterly results. Investors may expect strong earnings from the health sector after biotechnology giant Amgen's quarterly results beat estimates last week, Dickson said.
The energy sector, riding high on record oil prices, may lift the stock market this week. Exxon Mobil Corp. , the world's largest publicly traded oil company, and rival ConocoPhillips will report second-quarter earnings.
Investors will get a feel for the consumer's mood when earnings are reported this week by Kraft Foods Inc. , Amazon.com Inc. and General Motors Corp. .
HOME SALES AND GDP
Wall Street, already concerned about the cooling of the once-hot housing sector, will note two reports this week:
-- On Tuesday, a report on existing home sales is expected to show a drop to an annualized pace of 6.58 million units in June from a pace of 6.67 million in May, according to economists polled by Reuters.
-- On Thursday, a report on new home sales is forecast to show a decline to a seasonally adjusted annual pace of 1.160 million units from 1.234 million units in May.
On Friday, the Commerce Department's estimate of growth in second-quarter gross domestic product is expected to show that the U.S. economy grew at an annual pace of 3.0 percent in the second quarter, down from 5.6 percent in the first quarter.
Rounding out the week's packed economic data calendar will be the Conference Board's July consumer confidence index, due Tuesday, pegged at 104.0, down from 105.7 in June, and the Fed's "Beige Book" report on Wednesday, a look at the regional economies served by the 12 Federal Reserve district banks.
On Thursday, the government will release a report on U.S. durable goods orders for June, forecast up 1.8 percent after a drop of 0.2 percent in May.
On Friday, Wall Street will get the University of Michigan's final reading on its July consumer sentiment index. The forecast is 83.0, down from 84.9 in June.
(Additional reporting by Caroline Valetkevitch and Ellis Mnyandu)
(Wall St Week Ahead runs every week. Questions or comments on this one can be e-mailed to: emily.chasan(at)reuters.com)
gipa69
collegio dei patafisici
earnings eyed
Sun Jul 23, 2006 2:56 AM ET
(Repeats to fix formatting)
By Ian Chua
HONG KONG, July 23 (Reuters) - Investors in Asian stocks
are likely to be cautious this week, keeping a lid on prices,
as they absorb a raft of earnings news and wait for a clearer
sense of direction on the U.S. economy and interest rates.
Some of the biggest corporate names in Japan are due to
report earnings, including Sony Corp., Nissan Motor Co. Ltd.,
Mitsubishi Corp.
South Korea's top auto maker Hyundai Motor and Taiwan chip
maker TSMC will report results too.
Global miner BHP Billiton will produce a quarterly
production report and investors will keep an eye on profits
from U.S. firms such as Xilinx Inc. and Texas Instruments Inc.,
major clients of Taiwan chip maker UMC.
After a week that reinforced concerns about a slowdown in
U.S. economic growth, investors will get a second-quarter gross
domestic product report on Friday.
Although markets believe the Federal Reserve is preparing
to halt a two-year rate rising cycle, the outlook for growth is
causing investor jitters.
"Conviction levels are weak, risk appetite is unlikely to
rebuild in the near term and redemption pressures may return as
lows are re-tested," Merrill Lynch strategist Spencer White
said in a report.
Oil prices, off a record high of $78.40, will stay on
investor radar screens and could be volatile given the conflict
between Israeli forces and Hizbollah guerrillas.
--
FACTORS TO WATCH (FOR WEEK STARTING JULY 24)
** Key U.S. earnings/data
Monday - Texas Instruments Inc. Q2 earnings
Tuesday - Q2 earnings: 3M Co., Amazon.com Inc
, Lexmark International, Xerox
Corp., Xilinx Corp.
- July consumer confidence data
- June existing home sales data
Wednesday - Symantec Corp. Q1
Thursday - June durable goods data
Friday - Q2-advanced real GDP
- July-final U Mich Sentiment
--
** IN JAPAN
A series of quarterly earnings results from top companies,
such as Nissan Motor Co. Ltd., Sony Corp. and Matsushita
Electric Industrial Co. Ltd., are expected to provide clues for
market direction.
While auto makers are set to post healthy earnings thanks
to strong demand in the key U.S. market, earnings from the
electronics machinery sector are eagerly awaited due to signs
of weaker-than-expected demand for some electronics devices.
Katsuhiko Kodama, senior strategist at Toyo Securities,
said given high oil prices and lingering concerns about global
security, he expected little favourable news on earnings.
"We should look at each company's earnings closely," he
said. "But my understanding is that company managers are in
general cautious about changing business outlooks given
worsening external circumstances from three months ago."
Monday - Q1 results: Kao Corp., Nintendo Co. Ltd.
Tuesday - Q1: Sharp Corp., Nissan Motor Co.
Ltd., Shinsei Bank Ltd.,
Aiful Corp.
Wednesday - June trade balance data
Q1: Sumitomo Metal Industries Ltd.,
Matsushita Electric Industrial Co. Ltd.,
Honda Motor Co. Ltd., Nomura Holdings
Inc., Daiwa Securities Group Inc.
Thursday - Q1: NEC Corp., Sony Corp.,
Nikon Corp., TDK Corp., Fujitsu
Ltd., Kyocera Corp., JFE
Holdings Inc.
- Canon Inc. H1 results
Friday - June nationwide CPI, July Tokyo area CPI data,
June jobless, household spending, retail sales
Q1: Mitsubishi Corp., Sumitomo Corp.
, Tokyo Electron Ltd., Fuji
Photo Film Co. Ltd., NTT DoCoMo Inc.
--
** IN KOREA
Shares are seen moving in a limited range around Friday's
close ahead of domestic and U.S. earnings reports, with
investors watching for clues on the prospects for U.S economic
growth.
Given South Korea's ranking as the world's fourth-biggest
crude buyer, oil prices will be a major factor until tensions
in the Middle East abate, analysts said.
The benchmark KOSPI is expected to move between 1,230 to
1,300 points.
"Although we could see some gains from expectations for
improving earnings in the second half, it would be hard for the
main index to break the 1,300 points level," said Choo
Hee-yeop, deputy general manager of asset management strategy
at Korea Investment and Securities.
Monday - Hanarotelecom inc. to hold
launching ceremony for portal TV service
Tuesday - Q2 GDP (2300 GMT, Monday) (Tentative)
- Q2 results: Samsung SDI Co.,
SK Corp., Korea Gas Corp.
Thursday - Hyundai Motor Co. Q2 earnings
Friday - June industrial output data (0430 GMT)
- Q2: Hana Financial Group,
Kia Motors Corp., Woori Financial
Group (Tentative)
--
** IN HONG KONG
The market is seen flat as investors take to the sidelines
before the earnings reporting season heats up from mid-August.
Like elsewhere, investors will wait for the U.S. GDP report
at the end of the week, although Hong Kong is more sensitive to
the U.S. economy given its currency link to the dollar.
"If the GDP (growth) is above market expectation, it will
trigger fears that we could see a couple more rate hikes," said
Andes Cheng, associate director at South China Brokerage.
Tuesday - June external trade data
--
** IN AUSTRALIA/NZ
Australian shares are seen trending down with investors
focusing on output reports from miners and oil producers,
including BHP Billiton Ltd./Plc
"Investors would focus a little bit more on earnings, with
some of the production reports out so far coming through
slightly below what the market had been looking for," said Mike
Kendall, head of Goldman Sachs JBWere's retail broking arm.
"People might be a touch nervous, cost management is going
to be important," he added.
Consumer price data on Wednesday could be decisive in
determining whether the Reserve Bank of Australia opts to lift
interest rates at its next policy review in early August.
Monday - Australian Q2 Producer Price Indices
- Q4 production report: Newcrest Mining Ltd.
and Zinifex Ltd.
Tuesday - BHP Billiton Plc./Ltd.
June-quarter production report
- Second-quarter production report: Santos Ltd.
and Oil Search Ltd.
Wednesday - Australian Q2 Consumer Price Index (0130 GMT)
Thursday - Adelaide Bank Ltd. annual results.
- New Zealand Exchange half-year result
Friday - Origin Energy Ltd. Q4 production report
--
** IN TAIWAN
Stocks may struggle to move higher as investors wait for
TSMC , AU Optronics and other heavyweight technology companies
to release their second-quarter results and guidance for the
rest of this year.
"It remains unclear how strong Taiwan's tech sector will
pick up in the second half, typically a busier season," said
Allen Tsao, a vice president of Taiwan International Investment
Management, which oversees just under US$1 billion in assets.
Tsao predicted the main TAIEX stock index will trade
between 6,300 to 6,650 points, compared with Friday's close of
6,420.01.
Monday - Powerchip Semiconductor Corp. Q2
- June export and import orders
Tuesday - AU Optronics Corp. investor conference
Wednesday - Silconware Precision Industries Q2
Thursday - Taiwan Semiconductor Manufacturing Co.
results
--
** IN SOUTHEAST ASIA
Singapore shares are seen choppy as investors worry about
Middle East tensions and respond to changes in the outlook for
a U.S. rate rise in August.
"We believe our market pulse is still weak pending on the
developments in the Middle East and the Fed's actions this
August," DBS Vickers Securities said in a research note.
The Singapore market could fall as much as 11 percent from
current levels before bottoming out in late August, DBS said.
However, Thai shares may rise after the royal palace
approved an Oct. 15 re-run of the annulled general election,
pointing towards a potential resolution to the prolonged
political crisis that has stalled government.
Monday - Singapore June consumer price index data
- Philippine president state of the nation address
Tuesday - Philippine May external trade, imports data
Wednesday- Siam Cement Q2 results press conference
Friday - Singapore Q2 private property price index
- DBS Group Q2 results
- Bank of Thailand's review of economic forecasts
for 2006/2007
--
** IN SOUTH ASIA
Indian shares are likely to trade lower ahead of India's
central bank half-yearly review of its monetary policy and on
lacklustre earnings by Indian corporates so far.
The central bank is widely expected to raise rates, which
may hurt corporate profits.
"There is no ammunition left in the corporate report card
now, all the big ones are out with mixed numbers," said V.K.
Sharma, head of research at Anagram Stock Broking Ltd.
Tuesday - Tata Motors result
- Reserve Bank of India reviews monetary policy
Wednesday - Results: ONGC, Mahindra & Mahindra
BO>
Thursday - Maruti Udyog Ltd. result
Friday - Results: Steel Authority of India Ltd.,
Hindalco Industries Ltd.
--
TABLE OF INDEX PERFORMANCE: (JULY 21, at close)
Latest % change
week ytd* 2005
Nikkei 225 14,821.26 -0.16 -8.01 +40.24
KOSPI 1,271.33 +1.29 -7.83 +53.96
S&P/ASX 200 4,960.60 -0.11 +4.14 +17.60
TAIEX 6,420.01 -0.12 -1.96 +6.66
HANG SENG 16,464.18 +2.04 +10.67 +4.54
STI 2,371.37 +0.33 +1.02 +13.61
SENSEX 10,085.91 -5.55 +7.32 +42.33
*year-to-date
Sun Jul 23, 2006 2:56 AM ET
(Repeats to fix formatting)
By Ian Chua
HONG KONG, July 23 (Reuters) - Investors in Asian stocks
are likely to be cautious this week, keeping a lid on prices,
as they absorb a raft of earnings news and wait for a clearer
sense of direction on the U.S. economy and interest rates.
Some of the biggest corporate names in Japan are due to
report earnings, including Sony Corp., Nissan Motor Co. Ltd.,
Mitsubishi Corp.
South Korea's top auto maker Hyundai Motor and Taiwan chip
maker TSMC will report results too.
Global miner BHP Billiton will produce a quarterly
production report and investors will keep an eye on profits
from U.S. firms such as Xilinx Inc. and Texas Instruments Inc.,
major clients of Taiwan chip maker UMC.
After a week that reinforced concerns about a slowdown in
U.S. economic growth, investors will get a second-quarter gross
domestic product report on Friday.
Although markets believe the Federal Reserve is preparing
to halt a two-year rate rising cycle, the outlook for growth is
causing investor jitters.
"Conviction levels are weak, risk appetite is unlikely to
rebuild in the near term and redemption pressures may return as
lows are re-tested," Merrill Lynch strategist Spencer White
said in a report.
Oil prices, off a record high of $78.40, will stay on
investor radar screens and could be volatile given the conflict
between Israeli forces and Hizbollah guerrillas.
--
FACTORS TO WATCH (FOR WEEK STARTING JULY 24)
** Key U.S. earnings/data
Monday - Texas Instruments Inc. Q2 earnings
Tuesday - Q2 earnings: 3M Co., Amazon.com Inc
, Lexmark International, Xerox
Corp., Xilinx Corp.
- July consumer confidence data
- June existing home sales data
Wednesday - Symantec Corp. Q1
Thursday - June durable goods data
Friday - Q2-advanced real GDP
- July-final U Mich Sentiment
--
** IN JAPAN
A series of quarterly earnings results from top companies,
such as Nissan Motor Co. Ltd., Sony Corp. and Matsushita
Electric Industrial Co. Ltd., are expected to provide clues for
market direction.
While auto makers are set to post healthy earnings thanks
to strong demand in the key U.S. market, earnings from the
electronics machinery sector are eagerly awaited due to signs
of weaker-than-expected demand for some electronics devices.
Katsuhiko Kodama, senior strategist at Toyo Securities,
said given high oil prices and lingering concerns about global
security, he expected little favourable news on earnings.
"We should look at each company's earnings closely," he
said. "But my understanding is that company managers are in
general cautious about changing business outlooks given
worsening external circumstances from three months ago."
Monday - Q1 results: Kao Corp., Nintendo Co. Ltd.
Tuesday - Q1: Sharp Corp., Nissan Motor Co.
Ltd., Shinsei Bank Ltd.,
Aiful Corp.
Wednesday - June trade balance data
Q1: Sumitomo Metal Industries Ltd.,
Matsushita Electric Industrial Co. Ltd.,
Honda Motor Co. Ltd., Nomura Holdings
Inc., Daiwa Securities Group Inc.
Thursday - Q1: NEC Corp., Sony Corp.,
Nikon Corp., TDK Corp., Fujitsu
Ltd., Kyocera Corp., JFE
Holdings Inc.
- Canon Inc. H1 results
Friday - June nationwide CPI, July Tokyo area CPI data,
June jobless, household spending, retail sales
Q1: Mitsubishi Corp., Sumitomo Corp.
, Tokyo Electron Ltd., Fuji
Photo Film Co. Ltd., NTT DoCoMo Inc.
--
** IN KOREA
Shares are seen moving in a limited range around Friday's
close ahead of domestic and U.S. earnings reports, with
investors watching for clues on the prospects for U.S economic
growth.
Given South Korea's ranking as the world's fourth-biggest
crude buyer, oil prices will be a major factor until tensions
in the Middle East abate, analysts said.
The benchmark KOSPI is expected to move between 1,230 to
1,300 points.
"Although we could see some gains from expectations for
improving earnings in the second half, it would be hard for the
main index to break the 1,300 points level," said Choo
Hee-yeop, deputy general manager of asset management strategy
at Korea Investment and Securities.
Monday - Hanarotelecom inc. to hold
launching ceremony for portal TV service
Tuesday - Q2 GDP (2300 GMT, Monday) (Tentative)
- Q2 results: Samsung SDI Co.,
SK Corp., Korea Gas Corp.
Thursday - Hyundai Motor Co. Q2 earnings
Friday - June industrial output data (0430 GMT)
- Q2: Hana Financial Group,
Kia Motors Corp., Woori Financial
Group (Tentative)
--
** IN HONG KONG
The market is seen flat as investors take to the sidelines
before the earnings reporting season heats up from mid-August.
Like elsewhere, investors will wait for the U.S. GDP report
at the end of the week, although Hong Kong is more sensitive to
the U.S. economy given its currency link to the dollar.
"If the GDP (growth) is above market expectation, it will
trigger fears that we could see a couple more rate hikes," said
Andes Cheng, associate director at South China Brokerage.
Tuesday - June external trade data
--
** IN AUSTRALIA/NZ
Australian shares are seen trending down with investors
focusing on output reports from miners and oil producers,
including BHP Billiton Ltd./Plc
"Investors would focus a little bit more on earnings, with
some of the production reports out so far coming through
slightly below what the market had been looking for," said Mike
Kendall, head of Goldman Sachs JBWere's retail broking arm.
"People might be a touch nervous, cost management is going
to be important," he added.
Consumer price data on Wednesday could be decisive in
determining whether the Reserve Bank of Australia opts to lift
interest rates at its next policy review in early August.
Monday - Australian Q2 Producer Price Indices
- Q4 production report: Newcrest Mining Ltd.
and Zinifex Ltd.
Tuesday - BHP Billiton Plc./Ltd.
June-quarter production report
- Second-quarter production report: Santos Ltd.
and Oil Search Ltd.
Wednesday - Australian Q2 Consumer Price Index (0130 GMT)
Thursday - Adelaide Bank Ltd. annual results.
- New Zealand Exchange half-year result
Friday - Origin Energy Ltd. Q4 production report
--
** IN TAIWAN
Stocks may struggle to move higher as investors wait for
TSMC , AU Optronics and other heavyweight technology companies
to release their second-quarter results and guidance for the
rest of this year.
"It remains unclear how strong Taiwan's tech sector will
pick up in the second half, typically a busier season," said
Allen Tsao, a vice president of Taiwan International Investment
Management, which oversees just under US$1 billion in assets.
Tsao predicted the main TAIEX stock index will trade
between 6,300 to 6,650 points, compared with Friday's close of
6,420.01.
Monday - Powerchip Semiconductor Corp. Q2
- June export and import orders
Tuesday - AU Optronics Corp. investor conference
Wednesday - Silconware Precision Industries Q2
Thursday - Taiwan Semiconductor Manufacturing Co.
results
--
** IN SOUTHEAST ASIA
Singapore shares are seen choppy as investors worry about
Middle East tensions and respond to changes in the outlook for
a U.S. rate rise in August.
"We believe our market pulse is still weak pending on the
developments in the Middle East and the Fed's actions this
August," DBS Vickers Securities said in a research note.
The Singapore market could fall as much as 11 percent from
current levels before bottoming out in late August, DBS said.
However, Thai shares may rise after the royal palace
approved an Oct. 15 re-run of the annulled general election,
pointing towards a potential resolution to the prolonged
political crisis that has stalled government.
Monday - Singapore June consumer price index data
- Philippine president state of the nation address
Tuesday - Philippine May external trade, imports data
Wednesday- Siam Cement Q2 results press conference
Friday - Singapore Q2 private property price index
- DBS Group Q2 results
- Bank of Thailand's review of economic forecasts
for 2006/2007
--
** IN SOUTH ASIA
Indian shares are likely to trade lower ahead of India's
central bank half-yearly review of its monetary policy and on
lacklustre earnings by Indian corporates so far.
The central bank is widely expected to raise rates, which
may hurt corporate profits.
"There is no ammunition left in the corporate report card
now, all the big ones are out with mixed numbers," said V.K.
Sharma, head of research at Anagram Stock Broking Ltd.
Tuesday - Tata Motors result
- Reserve Bank of India reviews monetary policy
Wednesday - Results: ONGC, Mahindra & Mahindra
BO>
Thursday - Maruti Udyog Ltd. result
Friday - Results: Steel Authority of India Ltd.,
Hindalco Industries Ltd.
--
TABLE OF INDEX PERFORMANCE: (JULY 21, at close)
Latest % change
week ytd* 2005
Nikkei 225 14,821.26 -0.16 -8.01 +40.24
KOSPI 1,271.33 +1.29 -7.83 +53.96
S&P/ASX 200 4,960.60 -0.11 +4.14 +17.60
TAIEX 6,420.01 -0.12 -1.96 +6.66
HANG SENG 16,464.18 +2.04 +10.67 +4.54
STI 2,371.37 +0.33 +1.02 +13.61
SENSEX 10,085.91 -5.55 +7.32 +42.33
*year-to-date