Weekend News Round Up - Newsquawk Asia-Pac Market Open

• US stocks finished mostly lower on Friday with price action choppy amid a lack of tier 1 US data to go off and as questions were raised on the state of the consumer on the back of poor reports from Nike (NKE) and Lululemon (LULU). while some large-cap tech names outperformed in which Apple (AAPL) pared some of Thursday's big losses post-DoJ lawsuit.
• Chinese Premier Li said China’s economic rebound momentum continues to consolidate and strengthen with economic development off to a good start judging by the first two months, while he added that China will strive to boost domestic demand and that there is relatively big room for macro policy.
• Looking ahead, highlights include Japanese Leading Index, Singapore CPI, BoJ January Meeting Minutes, Supply from Japan, Holiday in India.

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LOOKING AHEAD

• Highlights include Japanese Leading Index, Singapore CPI, BoJ January Meeting Minutes, Supply from Japan, Holiday in India.
• Click here for the Newsquawk Week Ahead.

US TRADE

• US stocks finished mostly lower on Friday with price action choppy amid a lack of tier 1 US data to go off and as questions were raised on the state of the consumer on the back of poor reports from Nike (NKE) and Lululemon (LULU). while some large-cap tech names outperformed in which Apple (AAPL) pared some of Thursday's big losses post-DoJ lawsuit.
• SPX -0.14% at 5,234, NDX +0.10% at 18,339, DJI -0.77% at 39,476, RUT -1.27% at 2,072.
• Click here for a detailed summary.

NOTABLE HEADLINES

• Fed’s Bostic (voter) said on Friday that there is no silver bullet answer on why the economy is doing so well but immigration and productivity are likely playing a role, while he added that data so far indicates inflation will fall slower and he adjusted his projection to one rate cut this year and at a later start vs. previous view of two cuts. Furthermore, he stated that the base case remains for no more hikes and noted they should begin tapering relatively soon but do not have a time in mind yet, according to Reuters.
• US Senate passed a USD 1.2tln government funding bill which President Biden signed to avert a government shutdown, according to the White House.

COMMODITIES

• Russian Defence Ministry said Russia struck Ukraine’s electric power and gas-producing facilities, according to IFX, while it was also reported that a Russian missile strike hit a Ukrainian underground gas storage site, according to Naftogaz.

GEOPOLITICAL/GLOBAL NEWS

MIDDLE EAST

• UN Secretary-General Guterres visited Rafah and said it is time for an immediate humanitarian ceasefire, while he added there is a clear international consensus that any ground intervention in Rafah will cause a humanitarian catastrophe.
• UKMTO said a vessel was struck by an unidentified projectile 23NM west of Yemen’s Mukha and the resulting fire was extinguished by the crew, while the crew were reported safe.

MOSCOW TERROR ATTACK

• The death toll from the Moscow concert hall attack on Friday was at least 137, while Russian President Putin declared a day of mourning on Sunday and said all attackers have been found and detained, according to Reuters.
• Russia’s FSB said the perpetrators of the Moscow attack were heading towards the Russia-Ukraine border and had contacts on the - Ukrainian side, according to IFAX. There were also comments from Russian lawmaker Kartapolov who said there should be a clear answer on the battlefield if Ukraine is found to be behind the Moscow attack, according to RIA.
• Ukrainian President Zelensky said Russian President Putin and others seek to divert blame for the Moscow concert massacre and that Putin could use the terrorists he sent to their deaths in Ukraine to stop terrorism in Russia.
• US National Security Council spokesperson said the US government shared information with Russia earlier this month about a planned attack on Moscow, while the spokesperson added that Ukraine has no involvement in the attack on Russia and Islamic State bears sole responsibility for the attack. It was also reported that Islamic State released footage of the attack on the concert hall.
• France raised its security alert after the attack on Moscow, according to reports citing the French PM.

OTHER

• Ukraine’s military said it hit two Russian large landing ships, as well as a communications centre and infrastructure used by Russia’s Black Sea fleet during strikes on Crimea.
• Russia violated Poland’s airspace with a cruise missile attack on western Ukraine, while it was later reported that Russia’s air strike hit a Ukrainian facility in the western Lviv region and took control of the village of Krasnoye in the Donetsk region, according to IFAX.
• Russia scrambled a MiG-31 jet after US bombers approached near the Russian border over the Barents Sea, according to RIA.
• Gunmen reportedly stormed a police station in the Armenian capital of Yerevan, according to TASS.
• US State Department said the US stands with the Philippines and condemns dangerous actions by China in the South China Sea. This was after China said it took control measures on Philippine vessels that ‘intruded’ into the Second Thomas Shoal waters on March 23rd.
• China’s Defence Ministry warned the Philippines against provocative actions and to stop infringing and making any remarks that may lead to the intensification of conflicts and escalation of the situation, while it said China will continue to take decisive measures to firmly safeguard its territorial sovereignty and maritime rights and interests if the Philippines repeatedly challenges China’s bottom lines.
• US and Japan plan the biggest upgrade to security pact in more than 60 years, according to FT.

ASIA-PAC

NOTABLE HEADLINES

• Chinese Premier Li said China’s economic rebound momentum continues to consolidate and strengthen with economic development off to a good start judging by the first two months and though the economy sees some fluctuations, the long-term trend of the economy turning for the better won’t be changed. Premier Li said they will carefully study the issues of market access, match of supply and demand, as well as cross-border data flows, while there will be some regulations in some of these areas soon. Furthermore, Li said China will strive to boost domestic demand and that there is relatively big room for macro policy, according to Reuters.
• China’s Finance Minister said the government is confident and capable of achieving full-year economic and development goals, while China will prioritise support for sci-tech innovation and manufacturing development and allocate more fiscal resources to ensure employment, according to Reuters.
• China NDRC head said the state planner will implement a batch of major sci-tech projects based on the development of new productive forces, while it will crack down on monopolies and unfair competition activity, as well as publish a new version of a negative list for market access, according to Reuters.
• China’s Commerce Minister met with Micron’s (MU) president and said that they welcome the Co. to expand its footprint in the Chinese market and ramp up investment projects while firmly obeying China’s laws and regulations, while China’s Commerce Minister also met with the chairmen of AMD (AMD), Exxon (XOM) and Medtronic (MDT), according to Reuters.
• China blocked the use of Intel (INTC) and AMD (AMD) chips in government computers.
• US Treasury Secretary Yellen will travel to China in April, according to POLITICO.
• US Secretary of State Blinken said the US expresses deep concern over Hong Kong’s security law.

EU/UK

NOTABLE HEADLINES

• UK Chancellor Hunt said the Conservative Party will keep the triple lock for pension increases in its election manifesto, according to Reuters.