Japan Stocks Swing as Investors Await The Fed for U.S. Rate Signal

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Japanese stocks swung between gains and losses as investors await a Federal Reserve meeting this week for an indication of when U.S. interest rates will be raised.

The Topix was little changed at 1,560.17 at the trading break in Tokyo, after falling 0.2 percent and rising 0.3 percent. Volume was about 14 percent the 30-day intraday average. The gauge ended last week at its highest close since December 2007. The Nikkei 225 rose 0.2 percent to 19,291.95, after closing above 19,000 on Friday for the first time in almost 15 years. The yen climbed 0.1 percent to 121.32 per dollar following last week’s 0.5 percent drop, its fourth straight weekly decline.

Source : Bloomberg

Chinese Stock-Index Futures Advance after Last Week’s Increase

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China’s stock-index futures rose after the Shanghai benchmark gauge had its biggest weekly gain in a month.

Futures on the CSI 300 Index expiring in March added 0.4 percent to 3,631 as of 9:17 a.m. local time. PetroChina Co. and energy companies may be active after crude prices in New York dropped to their lowest level in six years.

The Shanghai Composite Index climbed 0.7 percent to 3,372.91 on Friday, taking last week’s increase to 4.1 percent. Premier Li Keqiang pledged Sunday to protect job creation in China as the leadership presses ahead with a “painful” push to cut corruption and waste by reducing the role of the state.

The CSI 300 Index added 0.7 percent. Hong Kong’s Hang Seng China Enterprises Index advanced 1.3 percent and the Hang Seng Index gained 0.1 percent. The Bloomberg China-US Equity Index, the measure of the most-traded U.S.-listed Chinese companies, slid 0.9 percent in New York on Friday.

Policy makers will take action if China’s growth, which the government targeted at about 7 percent this year, drifts toward the lower limit of its range and cuts into employment or wages, Li told reporters. While stripping the government of some of its role in the world’s second-largest economy may face resistance from vested interests, it is crucial, he said.

Source : Bloomberg

Aust dollar firms on US data

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The Australian dollar is firmer as disappointing American retail sales figures make traders question the timing of an expected US interest rate rise.

At 12.00opm (AEDT) on Friday, the local currency was trading at US76.91c, up from US76.20c on Thursday.

The exchange rate rose above US77c during the early hours of Friday morning after official data showed that US retail sales fell 0.6 per cent in February.

The result, which went against market expectations of a 0.3 per cent rise, is prompting traders to question an whether there will be a mid-year Federal Reserve interest rate rise.

The Fed's Federal Open Market Committee meets next week, with traders waiting to see if it keeps the word "patient" in regards to a rate rise in its following statement.

Meanwhile, the bond market firmed on the weak US retail sales figures.

At 12.00pm (AEDT), the March 2015 10-year bond futures contract was trading at 97.498 (implying a yield of 2.502 per cent), down from 97.523 (2.477 per cent) on Thursday.

The March 2015 three-year bond futures contract was at 98.120 (1.880 per cent), down from 98.160 (1.840 per cent).

Source: Businness Spectator

Oil Set for Fourth Weekly Decline as Global Glut Seen Expanding

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Oil headed for the longest stretch of weekly declines in almost two months amid signs that a global supply glut will expand.

Futures were little changed in New York after falling 2.3 percent on Thursday to a six-week low. Iran is in talks with buyers in Asia to sell more crude if sanctions on the Middle Eastern country are lifted, according to four people with knowledge of the discussions. U.S. drilling executives were in Washington this week to persuade White House officials and lawmakers to end the 40-year ban on American oil exports.

West Texas Intermediate for April delivery was at $47.16 a barrel in electronic trading on the New York Mercantile Exchange, up 11 cents, at 12:20 p.m. Sydney time. The contract dropped $1.12 to $47.05 on Thursday, the lowest close since Jan. 29. The volume of all futures traded was about 63 percent below the 100-day average. Prices are down 4.9 percent this week.

Source: Bloomberg