EM ASIA CREDIT: Q1 Results: Indika Energy (INDYIJ, Ba3/NR/B+) - Weak
Q1 results weak, key will be gold * Indika Energy, which is predominantly a single asset thermal co...
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LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)
| Date | Time | Country | Event |
| 02-Apr | 1130 | EU | ECB's Schnabel At SciencesPo Conference |
| 02-Apr | 1505 | EU | ECB's Lane At AI Conference |
| 03-Apr | 815 | ES | S&P Global Services / Composite PMI (f) |
| 03-Apr | 820 | EU | ECB's De Guindos speaks on financial stability |
| 03-Apr | 845 | IT | S&P Global Services / Composite PMI (f) |
| 03-Apr | 850 | FR | S&P Global Services / Composite PMI (f) |
| 03-Apr | 855 | DE | S&P Global Services / Composite PMI (f) |
| 03-Apr | 900 | EU | S&P Global Services / Composite PMI (f) |
| 03-Apr | 1000 | EU | PPI |
| 03-Apr | 1100 | EU | ECB's Schnabel At OECD Seminar |
| 04-Apr | 700 | DE | Manufacturing Orders |
| 04-Apr | 745 | FR | Industrial Production |
| 04-Apr | 800 | ES | Industrial Production |
| 04-Apr | 830 | EU | S&P Global Final Eurozone Construction PMI |
| 04-Apr | 900 | IT | Retail Sales |
| 04-Apr | 900 | EU | ECB's De Guindos Gives Lecture In Barcelona |
ASIA STOCKS: China’s Bourses Hold on to Marginal Gains
Xiaomi’s stock has been under selling pressure today down over 3% as one of its vehicles equipped with smart driving software crashed, with people killed. This followed losses of over 5% yesterday.
Despite the pressure on Xiaomi, Chinese electric vehicle manufacturers shares rise as delivery data shows year on year growth.
Malaysia’s Petronas shares slumped 2% as a main pipeline leak caused a fire that damaged multiple homes in a KL suburb.
- China’s main bourses delivered gains today with the Hang Seng up just +0.06, CSI 300 up +0.15%, Shanghai up +0.25% and Shenzhen up +0.38%.
- Taiwan’s TAIEX was weaker today by -0.10%, following yesterday’s huge gains of +2.8%.
- The KOSPI made yesterday’s gains look like an anomaly and fell again by -0.70%.
- With Indonesia still out, after being closed for two days for holidays, Malaysia’s FTSE Bursa KLCI is up +0.57% in trading today, after Friday’s fall of -1.44%
- In Singapore, the Straits Times is down -0.28% whilst the Philippines is up +0.42%.
- India’s NIFTY 50 is opening stronger this morning following yesterday’s significant falls of -1.50%, to be stronger by +0.50% in morning trading.
BOBL TECHS: (M5) Bull Cycle Remains In Play
- RES 4: 119.040 High Feb 28 and a key resistance
- RES 3: 118.950 High Mar 4
- RES 2: 118.382 76.4% retracement of the Feb 28 - Mar 6 sell-off
- RES 1: 118.200 High Mar 31
- PRICE: 117.870 @ 05:51 BST Apr 2
- SUP 1: 117.519 20-day EMA
- SUP 2: 117.080 Low Mar 25 and a ey short-term support
- SUP 3: 116.800 Low Mar 17
- SUP 4: 116.470 Low Mar 12
Bobl futures traded to a fresh short-term cycle high Monday. The contract has breached 117.974, the 61.8% retracement of the bear leg between Feb 28 - Mar 6. The break strengthens the current bull cycle and paves the way for a climb towards 118.382, a Fibonacci retracement. On the downside, initial support to watch lies at 117.519, the 20-day EMA. Key short-term support is at 117.080, the Mar 25 low.
