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Asia Market Update: Equity markets track the declines on Wall St.; Traders assess FOMC minutes and UK CPI; AUD pared rise on jobs miss.

- NZD still weaker following the recent RBNZ decision.

- Property indices decline in China; Shanghai Banks index also drops.

- CN property developers continue to issue profit warnings [Country Garden].

- Nikkei 225 has remained modestly lower.

- AU earnings remain in focus [ASX, Blackmores, IPH, Origin Energy, Transurban, Treasury Wine].

- Philippines Central Bank is expected to raise rates later today.

- China’s Commerce Ministry (MOFCOM) sometimes holds weekly news conferences on Thurs.

- Japan CPI data due on Fri.

- (AU) Australia July employment change: -40.9K V +25.0KE (First decrease since Oct 2021); UNEMPLOYMENT RATE: 3.4% V 3.5%E (Lowest since Aug 1974).

- (NZ) Reserve Bank of New Zealand (RBNZ) Gov Orr: There were periods when monetary policy was too loose; Yet to be determined if rates got too low.

- (NZ) New Zealand Treasury and Reserve Bank of New Zealand joint statement on Housing Market: Housing prices lifted by taxes and low home loan rates.

- (AU) Reserve Bank of Australia (RBA): Establishes a private sector economist panel for discussions of economic issues; the first meeting of the panel of private-sector economists is planned for 6 October.

- (NZ) New Zealand Treasury expects to issue between NZ$1.5B and NZ$2.5B of the 20 September 2035 inflation-indexed bond in the syndicated tap [in line].

- (AU) Australia July RBA Govt FX Transactions (A$): -1.1B v -3.2B prior.

- (JP) The new operator of Sakhalin-2 said to offer Japan cos. unchanged terms - Japanese media.

- (JP) Japan said to consider easing limits imposed on stock options for start up companies - Press.

- (JP) Bank of Japan (BOJ) offers to buy 5-10 year JGBs at fixed rate of 25bps; Opens window to buy unlimited amount of 10-year JGBs at 0.25% [as expected].

- (JP) Japan MoF sells ¥1.2T v ¥1.2T indicated in 0.800% 20-year JGBs, Avg Yield: 0.7520% v 0.9020% prior, bid-to-cover: 3.28x v 3.63x prior.

- (KR) South Korea to block unregistered cryptocurrency exchanges.

- Kakao Corp 035720.KR No longer considering 10% stake sale in mobility unit; Employees and Union opposed stake sale.

- (KR) South Korea Q2 Short Term External Debt: $183.8B v $174.9B prior.

- Hang Seng opened +0.3%; Shanghai Composite opened -0.2%.

- (CN) China might issue CNY1.5T in extra local debt, relates to plan to raise investment [infrastructure spending]- Chinese press.

- (CN) China PBOC sets Yuan reference rate: 6.7802 v 6.7863 prior.

- (CN) Goldman Sachs expects China 2022 GDP +3.0% (prior forecast 3.3%).

- Country Garden 2007.HK Profit warning: Guides H1 (CNY) Net 200M to 1.0B v 15.0B y/y; cites reduced revenue recognized from sales.

- (CN) China July Swift Global Payments (CNY): 2.20% v 2.17% prior.

- (CN) China PBOC Open Market Operation (OMO): Sells CNY2.0B in 7-day reverse repos v CNY2.0B prior; Net CNY0B v Net CNY0B prior.

- (CN) China issues guidelines on development of cruise industry; To promote cruise tourism in Xiamen, Shanghai, and Tianjin.

- (CN) Civil Aviation Administration of China (CAAC): July Air Passengers 34M, +54.5%m/m, -30.8% y/y.

- (SL) Sri Lanka Central Bank (CBSL) leaves Key Rates unchanged (as expected).

- (TW) Taiwan to meet with US on trade in Sept.

- TSLA To shorten Model Y wait time in China to 4-8 weeks, Model 3 wait time to 12-16 weeks - Press.

- (IE) Ireland Aug Consumer Confidence: 53.4 v 53.7 prior.

- (RU) Said that Russia may begin offering less expensive loans to OIl and Gas Companies - Russia Press.

- Nikkei 225, -0.9%, ASX 200 -0.2% , Hang Seng -0.5%; Shanghai Composite -0.4% ; Kospi -0.4%.

- Equity S&P500 Futures: -0.1%; Nasdaq100 -0.1%, Dax -0.2%; FTSE100 -0.1%.

- EUR 1.0193-1.0163 ; JPY 135.18-134.73 ; AUD 0.7021-0.6916 ;NZD 0.6306-0.6264.

- Gold +0.1% at $1,777/oz; Crude Oil +0.1% at $88.19/brl; Copper -0.5% at $3.5710/lb.

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For the open, the Aussie will need to break above 0.6880 or the bulls will be under heat with prospects of a run below 0.6866. AUD/USD was under pressure into the final days of last week with the labour market data providing a bit of something for everyone.

The EUR/USD pair has continued its two-day losing streak after dropping below Friday’s low at 1.0032 in its opening session. The asset is declining towards parity as investors are expecting hawkish guidance from the Fed at US Jackson Hole Symposium this week.

Gold price  has declined consecutively for five trading sessions after printing a monthly high of $1,807.96. The precious metal has slipped below $1,750.00 for the first time in August. It is likely to establish below the above-mentioned critical point.

Ethereum whales hold on to their Shiba Inu holdings worth over $163 million, fueling bullish sentiment among SHIB holders. Despite massive profit-taking when SHIB hit the $0.00001732, large wallet investors have a bullish outlook on the meme coin.

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