The First Look: Your 10-Second Guide To What Happened Overnight

Rocket China

ASIA: Chinese stocks surged over 3%, while Japan was left in the dust. Chinese earnings reports are likely the reason to cheer, with companies such as Gree Electric Appliances and Yanzhou Coal reporting then soaring 6.9% and 10% respectively according to Bloomberg.

We’d also note that property giant Vanke jumped over 3.5% after reporting that transaction area rose by 18% year-over-year for the first three quarters.

Want to see a v-shaped rebound? Here’s China’s CSI 300:


So what’s with Japan?

Well, the yen is rallying even higher against the U.S. dollar, going from 81.4 to 80.5 per dollar in the course of just 12 hours. A G20 pledge to avoid competitive devaluation might be the culprit. In either case, Toshiba has said they’re preparing their business model for the yen at an even stronger 70 per USD.

Yet the big news down south is that Singapore Exchange has announced its intention to merge with Australia’s ASX exchange company, which could create an Asian exchange platform with volume approaching that of Hong Kong. It would be a huge move for Singapore, though there are still major hurdles to the deal according to the WSJ.

ASX was up nearly 20% today, as was the Australian market. Singapore’s Straits Times index lagged the region however, up just 0.42% as consumer inflation came in at 3.7%, ahead of expectations by 0.1%.



EUROPE: Is rising with England in the lead. The French government has said that protests are costing the economy as much as $560 million dollars per day. Watch for Eurozone new orders data at 5:00 AM ET.



MACRO: Oil and gold are rebounding. The Euro remains above $1.40.



U.S. FUTURES: Are rising. Watch for existing home sales at 10:00 AM ET, and earnings from Texas Instruments (TXN) and Amgen (AMGN) today.


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