ASIA DAYBOOK: Citic Assets, Toyota Buyback, Bank of China Profit

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ASIA DAYBOOK: Citic Assets, Toyota Buyback, Bank of China Profit
2014-03-26 21:43:14.636 GMT


By Margo Towie and Steven McPherson
   March 27 (Bloomberg) -- Today: Philippine and Taiwan
interest rates, NZ trade, Macau jobless; scheduled earnings
include ICBC, China CITIC Bank, China Cinda, CITIC Securities,
China Railway Construction; Torex Semiconductor prices IPO.

   WHAT TO WATCH:
* U.S. stocks fall, oil and yen gain, after Obama says
  Russia’s actions test international order
* Lachlan Murdoch re-emerges as contender for top News Corp.
  role
* Citic Group to list majority of its assets in H.K. by
  injecting them into Citic Pacific
* Toyota to buy back as much as 1.89% of shrs for 360b yen;
  1st buyback in 5 yrs
* Bank of China FY net 156.9b yuan; est. 153.1b yuan
* UBS said to suspended foreign-exchange traders in U.S.,
  Singapore, Switzerland
* Citigroup fails Fed stress test, while Goldman and BofA get
  by with modified plans for dividends and buybacks
* Tencent to pay ~$500m for 28% of South Korea’s CJ Games to
  bolster online, mobile entertainment
* Rio’s Turquoise Hill may seek extension from Oyu Tolgoi
  lenders
  * China Power may buy Rio coal mine, build power plant in
    Zimbabwe
* Bank of England to sign yuan clearing deal with PBOC next wk
* Nissan recalls 989,701 vehicles in North America for airbag
  software defect
* Japan Airlines forecasts 140b yen oper. profit next FY; mean
  analyst est. 161b yen
* WTO panel backs U.S. in rare-earth mineral dispute with
  China
* Total, Areva among cos. signing $25b of China contracts
  during Xi’s Paris visit
* Airbus extends China assembly by 10 yrs after 70-plane order
* China sovereign wealth fund to buy $40m stake in IKang


   ECONOMY (Hong Kong time):
* 5am: South Korea Feb. Discount Store Sales y/y; -23.1%
  (prior 18.6%)
* 5am: South Korea Feb. Department Store Sales y/y; -2.4%
  (prior 6.8%)
* 5am: South Korea March Consumer Confidence; 108 (prior 108)
* 5:45am: New Zealand Feb. Trade Balance; est. 600m (prior
  306m)
* 5:45am: New Zealand Feb. Exports; est. 4.44b (prior 4.08b)
* 5:45am: New Zealand Feb. Imports; est. 3.75b (prior 3.77b)
* 5:45am: New Zealand Feb. Trade Balance 12 Mo. YTD; est. 500m
  (prior 312m)
* 7:50am: Japan March 21 Japan Buying Foreign Stocks; no est.
  (prior -137.1b yen)
* 7:50am: Japan March 21 Japan Buying Foreign Bonds; no est.
  (prior 143.1b yen)
* 7:50am: Japan March 21 Foreign Buying Japan Bonds; no est.
  (prior 482.6b yen)
* 7:50am: Japan March 21 Foreign Buying Japan Stocks; no est.
  (prior -1092.4b yen)
* 8am: Australia 4Q CBA/HIA House Affordability; no est.
  (prior 75.1)
* 9:30am China Feb. Industrial Profits YTD y/y; no est. (prior
  12.2%)
* 4pm: Taiwan Feb. Coincident Index m/m; no est. (prior 0.55%)
* 4pm: Taiwan Feb. Leading Index m/m; no est. (prior 0.07%)
* 4:20pm: Kazakhstan Bloomberg March Economic Survey
* TBA: Macau Feb. Unemployment Rate; no est. (prior 1.7%)


   CENTRAL BANKS (Hong Kong time):
* 8:20am: Fed’s Bullard on U.S. monetary policy, Hong Kong
* 12:30pm: RBNZ’s Spencer on macro-prudential policy, Hong
  Kong
* 4pm: Philippines BSP Overnight Borrowing Rate; est. 3.5% of
  13 of 16 economists in survey; 3 see 25bp increase (prior
  3.5%)
* 4:30pm Taiwan CBC Benchmark Interest Rate; est. 1.88% of all
  22 economists in survey (prior 1.88%)


   GOVERNMENT (Hong Kong time):
* German Chancellor Angela Merkel, South Korean President Park
  Geun Hye meet for talks; Park speaks at business forum,
  Berlin


   EARNINGS (Hong Kong time, estimates where available):
* Beadell Resource (BDR AU) 1H 6:43am
* Beiren Jingcheng Machinery (600860 CH) FY
* Beijing Enterprises Water (371 HK) FY 1.13b HK$ (20
  analysts)
* China BlueChemical (3983 HK) FY 1.85b yuan (6 analysts)
* China Cinda Asset Management (1359 HK) FY 8.68b yuan (12
  analysts)
* China CITIC Bank (998 HK) FY 36.8b yuan (23 analysts)
* China Conch Venture (586 HK) FY 1.85b yuan (4 analysts)
* China COSCO Holdings (1919 HK) FY 4.19b yuan loss (13
  analysts)
* China Railway Construction (1186 HK) FY 10.1b yuan (18
  analysts)
* China Travel International Investment Hong Kong (308 HK) FY
  *Chongqing Iron & Steel (1053 HK) FY
* CITIC Securities (6030 HK) FY 5.21b yuan (18 analysts)
* Dalian Port PDA (2880 HK) FY 736.0m yuan (4 analysts)
* First Tractor (38 HK) FY 304m yuan (6 analysts)
* Greatview Aseptic Packaging (468 HK) FY 307m yuan (5
  analysts)
* Guangshen Railway (525 HK) FY 1.32b yuan (9 analysts)
* Industrial & Commercial Bank of China (1398 HK) FY 261b yuan
  (28 analysts)
* Luoyang Glass (1108 HK) FY
* Paradise Entertainment (1180 HK) FY HK$102m (5 analysts)
* San Miguel (SMC PM) FY
* Shanghai Industrial Urban Development (563 HK) FY
* Sichuan Expressway (107 HK) FY 990.0m yuan (6 analysts)
* Sigma Pharmaceuticals (SIP AU) 1H
* Sinopec Shanghai Petrochemical (338 HK) FY 1.16b yuan (5
  analysts)
* Sinopec Yizheng Chemical Fibre (1033 HK) FY
* Tianjin Capital Environmental Protection (1065 HK) FY 277.7m
  yuan (3 analysts)
* United Co RUSAL (486 HK) FY $422.8m loss (9 analysts)
* Wharf Holdings (4 HK) FY HK$11.5b (15 analysts)
* Zhengzhou Coal Mining Machinery (564 HK) FY 992.3m yuan (7
  analysts)


   IPO WATCH:
* Torex Semiconductor (6615 JP) to price 702,300 shrs at
  4,500-5,000 yen
* Intermedia Capital (0958046D IJ) 588.2m shrs


   CORPORATE EVENTS/CONFERENCES (Hong Kong time):
* Gastech global gas industry forum to March 27, Ilsan, South
  Korea
* 9am: Mines & Money conference, Hong Kong
* Nippon Steel & Sumitomo Metal (5401 JP) at Sogat Sour Oil &
  Gas Advanced Technology Conference, Abu Dhabi
* Macquarie Group (MQG AU) at Credit Suisse Asian Investment
  Conference, Hong Kong
* 4:30pm: Panasonic (6752 JP) CEO Tsuga briefing on FY14
  business strategy
* Analyst/Investor Events: New China Life Insurance (1336 HK),
  Panasonic (6752 JP), Gamuda Bhd (GAM MK), Air China (753 HK)
* AGMs/EMGs/Board Meetings:
  * Chugai Pharmaceutical (4519 JP)
  * Kirin Holdings (2503 JP)
  * Sinopec Shanghai Petrochemical (338 HK)
  * Tambang Batubara Bukit Asam (PTBA IJ)
  * China COSCO Holdings (1919 HK)
  * Brilliance China Automotive (1114 HK)
  * PTT Exploration & Production (PTTEP TB)
  * Wharf Holdings ( 4 HK)
  * Shimano (7309 JP)
  * Showa Denko KK (4004 JP)
  * Showa Shell Sekiyu KK (5002 JP)
  * Shougang Fushan Resources (639 HK)
  * Beijing Enterprises Water Group (371 HK)
  * Industrial & Commercial Bank of China (601398 CH)
  * China Merchants Bank (600036 CH)
  * China CITIC Bank (998 HK)
  * CITIC Securities (600030 CH)
  * Otsuka Corp (4768 JP)
  * China COSCO Holdings (1919 HK)
  * China BlueChemical (3983 HK)
  * China Railway Construction (1186 HK)
  * Zhongsheng Group Holdings (881 HK)


   STOCKS TO WATCH
* Greater China Highlights
  * Bank of China (3988 HK): FY net 156.9b yuan; est. 153.1b
    yuan
  * Melco Crown (6883 HK): FY net $637.5m, est. $620.7m; to
    open new hotel at City of Dreams in early 2017
  * Tencent (700 HK): To pay $500m for 28% of S. Korea’s CJ
    Games
* India Highlights
  * CMC (CMC IN): Wins case against Kuwait Stock Exchange;
    KSE ordered to pay co. 463.7m rupees, 7% interest
  * Sesa Sterlite (SSLT IN): Court panel recommends ending
    iron ore mining ban in Goa, with cap; Sesa owns biggest
    mines in state
  * State Bank of Travancore (SBTR IN): To pay 2.5 rupee
    interim dividend; approves 3.85b rupee pref. shr
    allotment to SBI; approves rights offer not exceeding
    6.29b rupees
* Japan Highlights
  * Japan Airlines (9201 JP): Forecasts 140b yen oper.
    profit next FY; mean analyst est. 161b yen
  * Mitsui & Co. (8031 JP): Will cancel 1.8% of shrs April
    18; oil unit among Myanmar exploration bid winners
  * Nissan (7201 JP): Recalls 989,701 vehicles in North
    America for airbag software defect
  * Toyota (7203 JP): Will buy back as much as 1.89% of shrs
    for 360b yen; 1st buyback in 5 yrs
* South East Asia Highlights
  * Pure Foods (PF PM): Sets 48 pesos/shr div. payable May
    12; 2013 net income 4.1b pesos, topping 3.5b
  * Thai Airways International (THAI TB): Expects cabin
    factor to rise to 72% in April during traditional new yr
    break from forecast of 68%-70% in March, according to
    acting president Chokchai Panyayong


   MARKETS:
* S&P 500 -0.7% to 1852.56
* Stoxx Europe 600 +0.7% to 330.93
* Gold futures -0.5% to $1304.6/oz
* Brent futures -0.1% to $106.89/bbl
* U.S. 10-year Treasury yield -6 bps to 2.69%


   BLOOMBERG TV (Hong Kong time):
* 9:40am: Barclays Analyst May Yan
* 11:30am: Former Rugby Players George Gregan, Waisale Serevi
* 7:10am: Smead Capital Management CEO and CIO Bill Smead
* 7:40am: Saxo Bank Chief Economist & CIO Steen Jakobsen
* 8:10am: Tom Ford Int. Chairman Domenico De Sole
* 9:05am: Australia Minister for Trade and Investment Andrew
  Robb
* 9:30am: Former U.S. Under Sec State Political Affairs;
  former NATO Ambassador Nick Burns
* 10:05am: Head of Australia’s Inquiry into Financial System
  David Murray
* 10:40am: UBS WM APAC Regional Head - CI Office Tan Min Lan
* 11:10am: Cathay Conning Asset Management CEO Mark Konyn
* 11:50am: Credit Suisse Head of Equities Ali Naqvi


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--With assistance from Hari Govind in Mumbai and Tim Smith in
Sydney.

To contact the reporters on this story:
Margo Towie in Bangkok at +66-2-654-7313 or
mto...@bloomberg.net;
Steven McPherson in Seattle at +1-206-262-4147 or
smcph...@bloomberg.net
To contact the editors responsible for this story:
Jan Dahinten at +65-6212-1164 or
jdah...@bloomberg.net
Steven McPherson, Rebecca Jones

---

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