Asian Market Report

Good follow-on here. They are still working with the assistance from the PBOC. The Japanese regulators must be pushing on Nomura. See story below. The BOJ's Kuroda cannot be habby about this at all as they (BOJ) own about half of the entire Nikkei, equity's and bonds.

Some Headlines

Nomura Shares Jump on $1.4 Billion Buyback, Governance Tweaks

Nomura Holdings Inc. surged the most in more than two years in Tokyo trading after it announced a surprise $1.4 billion share buyback along with plans to reduce its chairman’s role to bolster governance. Just days before its annual shareholder meeting, Japan’s biggest brokerage said on Tuesday that it will trim its stake in an affiliate that was involved in a damaging information leak and use the proceeds to fund the stock repurchase.

The stock jumped as much as 10% on Wednesday morning, the most since November 2016, paring this year’s decline to 11%.

https://www.bloomberg.com//news/articles/2019-06-19/nomura-shares-jump-on-1-4-billion-buyback-governance-tweaks?

this a VERY positive sign, cleaning up Nomura needs to habben as it is basically the BOJ in disguise.

RPT-Japanese insurers wait for cheaper dollar as U.S. rate-cut pressure builds

Japan’s life insurers are holding out for the possibility that the Federal Reserve’s first rate cut in more than a decade will afford them better levels at which to be buying the U.S. dollar.

https://www.reuters.com/article/japan-insurers-investments/rpt-japanese-insurers-wait-for-cheaper-dollar-as-u-s-rate-cut-pressure-builds-idUSL4N23P2K6

Sino-U.S. trade hopes lift Australia shares to 11-yr peak; NZ up

* Aussie miners, which are exposed to China, lead gains

* Financials aided by dovish RBA

* Investors await Fed rate decision later on Wednesday

Australian shares climbed to an 11-year high on Wednesday, as investor sentiment was underpinned by hopes U.S. and Chinese leaders would revive stalled trade talks and on prospects of rate cuts by the Federal Reserve and more policy easing at home.

The S&P/ASX 200 index rose 0.9%, or 61.2 points to 6,632.90 by 0058 GMT, having closed 0.6% higher on Tuesday.

Wall Street’s overnight rally provided the early impetus, as U.S. President Donald Trump said he would have an extended meeting with Chinese President Xi Jinping at the G20 summit later this month, at a time when talks have all but broken down.

Traders were also betting on the U.S. Federal Reserve to open the door to future rate cuts when it delivers its decision later in the global day. While few expect an easing at the current meeting, markets are priced for at least 2 rate cuts before year-end.

At home, the Reserve Bank of Australia has decisively shifted to an easing stance, cutting rates earlier in June and saying further reduction would likely be needed.

Australia’s mining sector, highly exposed to top trade partner China, was among the biggest gainers.

It rose 1.8% with iron ore miner Fortescue Metals Group rising the most among its peers. The miner jumped more than 5% to an over a decade-high.

Global miners BHP Group and Rio Tinto also climbed as much as 2.6% and 3%, respectively.

Financial stocks rallied about 1%, with the country’s “Big Four” banks gaining between 0.6% to 1.3%.

U.S. lawmaker calls for Facebook to pause cryptocurrency project

WASHINGTON (Reuters) - A leading U.S. House lawmaker on Tuesday called on Facebook Inc to halt development on its new cryptocurrency and for company

executives to testify before Congress, adding to global concerns about what the digital currency could mean for data privacy and security.

Maxine Waters, who chairs the House Financial Services Committee, said Facebook should halt development of the product, dubbed Libra, until Congress and regulators can review the issue, and called on company executives to testify before Congress.

https://www.reuters.com/article/us-facebook-crypto-congress/u-s-lawmaker-calls-for-facebook-to-pause-cryptocurrency-project-idUSKCN1TJ2SJ?

Korean Air to buy 20 Boeing 787s, lease 10 more

SEOUL (Reuters) - Korean Air Lines Co Ltd said on Wednesday it will add 30 Boeing Co Dreamliner passenger jets to its fleet, including what it said would be the country’s first use of the largest Dreamliner model, the 787-10.

South Korea’s biggest carrier in a regulatory filing said it will buy 20 Boeing 787-10s and lease 10 Boeing 787-9s.

https://www.reuters.com/article/us-korean-air-boeing/korean-air-to-buy-20-boeing-787s-lease-10-more-idUSKCN1TJ31X?

https://www.reuters.com/article/australia-stocks-midday/sino-u-s-trade-hopes-lift-australia-shares-to-11-yr-peak-nz-up-idUSL4N23Q08K

https://www.cnbc.com/asia-markets/

https://www.dailyfx.com/crude-oil