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Comcast Buys DreamWorks for $3.8 Billion, Aims to Dethrone Disney





Comcast Corporation's latest acquisition will surely give Walt Disney a run for its money. Comcast's entertainment division NBCUniversal inked a deal to purchase DreamWorks Animation Inc. for $3.8 billion. Comcast is the creator of hit movie Despicable Me and the Minions, while DreamWorks' roster include Shrek, Kung Fu Panda, Madagascar, and Casper the Friendly Ghost. Once the transaction is finalized, DreamWorks' beloved characters are expected to appear at Comcast's Universal Studios theme park. The Walt Disney Company is now facing tougher competition with Comcast's purchase. This also indicates that Comcast, the US' largest cable distributor, is adapting to consumers' shift to online content, leaving television behind. DreamWorks provides family-friendly content to Netflix.


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Aud/usd eased to 0.7593 First up After Slightly Weaker China Pmi





Light AUD/JPY demand after Tokyo arrived helping to underpin AUD/USD
AUD/USD support at 0.7545/50 where Wednesday's low and 50-day MA converge
Resistance at 20-day MA at 0.7662 - range expected ahead of RBA tomorrow


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Fxwirepro: Usd/inr Breaks Key Support at 66.32, Good to Sell on Rallies





USD/INR is currently trading at 66.32 marks. It made intraday high at 66.41 and low at 66.32 levels. Intraday bias remains bearish for the moment. A daily close below 66.32 will take the parity down around key supports at 66.10/65.95/65.81 marks respectively. On the other side, key resistance levels are seen at 66.48/66.72/ 66.86/ 66.95/ 67.15 levels. Today India will release Nikkei market manufacturing PMI data at 0500 GMT. In addition, Indian stock markets are trading on a lower note. As BSE Sensex was trading 0.71% lower at 25,428 while NSE Nifty fell by 0.73% to 7,792 points. We prefer to take short position in USD/INR only below 66.30, stop loss 66.72 and target 66.05 marks.


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Fxwirepro: Nikkei225 Consolidates in Narrow Range, Good to Sell on Rallies





Major intraday resistance - 16200 Major support - 15800 Nikkei index slightly recovered after making a low of 15837.It is currently trading around 16016. Short term trend is bearish as long as resistance 16600 holds. The index minor resistance is around 16200 and any break above will take the index to next level 16375(55 day H EMA)/16600/16800. On the lower side major support is around 15800 and break below will drag the index down till 15500/15325 in short term. . Short term trend reversal can be seen only below 15000. It is good to sell on rallies around 16300 with SL around 16600 for the TP of 16000/15550


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Fed's Williams perceives huge decline in assets





Federal Reserve of San Francisco President John Williams highlighted the readiness of the US economy for higher interest rates but stressed the move would lead to huge decreases in asset prices. The policymaker, however, did not imply another financial crisis is imminent, saying American regulators have scored significant progress in bolstering banks against likely failure in the future. Williams said he is more worried about people forgetting the things that transpired during the last crisis. For the first time in almost a decade, the Fed raised rates last December. But it refrained from increasing them further in their last meeting despite uncertainties and market volatility.


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Fitch: Systemically Important Mexican Banks Ready to Meet Additional Capital Requirements





The seven systemically important Mexican banks (G-SIBs) recently selected by the local regulator (Comision Nacional Bancaria y de Valores), currently committed to the capital rules required by Basel III, are ready to meet the required additional capital buffer for G-SIBs, according to Fitch Ratings. The additional capital requirement established is intended to strengthen the bank's capitalization, given its characteristics of size, interconnectedness with the financial system, importance of services and infrastructure, and complexity of operations that in the event of insolvency could have an impact on the financial system in general. The seven Mexican G-SIBs, which represent 80% of total assets of the banking system, includes five foreign-owned banks (BBVA Bancomer, Banamex, Banco Santander Mexico, Scotiabank Mexico and HSBC Mexico) and two locally owned (Banorte and Banco Inbursa). Mexican banks have been characterized by being well capitalized for several years, complying with some leeway the minimum capitalization ratio required by regulation, currently 10.5%. At the end of February 2016, Mexican commercial banks showed a total regulatory capital ratio of 14.52% and a Tier I regulatory capital ratio of 12.99%. This is no exception for now systemic banks, which showed at the same date a total regulatory capital ratio and Tier I regulatory capital ratio of 14.20% and 12.48%, respectively. Therefore, the seven Mexican G-SIBs already meet at 100% with the additional capital buffer for G-SIBs, that is supplementary to the 10.5% minimum capitalization ratio required, which was set to be in compliance within a maximum four years (25% annually). Fitch believes that banks categorized as G-SIBs by the local regulator, five have a reasonable leeway to keep the ratio considering its growth plans; while two of them are somewhat closer to the limit. Although no the base line scenario, in all cases important increases on its portfolio over the next four years could make them migrate to higher grades, and therefore increase the capital requirements. Despite this, Fitch believes that the challenges to be in compliance in all cases are low because banks have a strong ability for internal capital generation and/or have the support of their parent companies or with a high propensity of its shareholders to inject capital, if required, to meet with the minimum regulatory requirements. According to its characteristics G-SIBs can be classified into five degrees or groups. BBVA Bancomer was classified in the Group IV, which considers a additional capital buffer for G-SIBs of 1.50 percentage points (p.p), with information as of February 2016 considering the new requirement its minimum capital regulatory ratio would be exceeded at 1.70 p.p. While Banamex and Banco Santander Mexico, classified in Group III with additional capital buffer for G-SIBs of 1.20 p.p., would exceed the new regulatory minimum at 1.97 p.p. and 3.73 p.p., respectively. In the case of Banorte, listed in Group II with an additional capital buffer for G-SIBs of 0.90 p.p., would exceed at 3.26 p.p. In the cases of Scotiabank Mexico, HSBC Mexico and Banco Inbursa which were classified in Group I with an additional capital buffer for G-SIBs of 0.60 p.p., would exceed at 1.12, 1.19 and 6.60 p.p. respectively, the regulatory minimums.


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Asian shares plummet as global economic growth woes remain





Asian shares recorded its longest losing run in nearly five months as it declined for seventh consecutive days on escalating global economic growth anxieties. The MSCI Asia Pacific Index closed at 405.69, down 0.4%. The Shanghai Composite Index lost 0.2%. The Hang Seng China Enterprises Index lost 1.2%. Hong Kong's Hang Seng Index slipped 0.8%. Taiwan's Taiex index tumbled 0.5%. Global stock markets have hit its lowest troughs in nearly a month despite worries over disappointing corporate earnings and dim labor and manufacturing data. Meanwhile, China's measure services data will be released Thursday.


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Usd/jpy Trade up to 108.60 in Ny





Stops at 108.00+, 108.25+ tripped
Gotobi demand supportive
Option expiries to help cap - USD884 mln 108.50, 505 mln 108.75, more above Daily Ichimoku tenkan-kijun converging at 108.71-72.


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​HTC Revenue Falls for the 4th Quarter in a Row





HTC Corporation reported a 64 percent dive in revenue for the first quarter, contracting from $1.3 billion in 2015 to a dismal $456 million. Q1 profit also plunged by a staggering 78 percent from last year's $250 million to $60 million. HTC is struggling to restore its share in the cut throat Android market, which has now shriveled to 1 percent. Its net loss totaled to $80 million in three months. Sales results of its new smartphone HTC 10 and virtual reality device Vive were not yet counted. However, 11 days after the pre-sales opened in China, only 251 units of HTC 10 were pre-ordered. This shows that HTC is losing against major competitors Apple and Samsung in the world's the largest smartphone market.


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Japan's Topix wipes out previous advance as yen surges





Japan's Topix index erased its early ascension as the Japanese yen fortified after recording losses for two straight days.


Against the US dollar, the yen traded at ¥108.66, up 0.6%. The Topix index closed at 1,332.42,m down 0.2%, while the Nikkei 225 Stock Average settled at 16,575.65. Machinery shares advanced but consumer finance and drugmakers spearheaded declines.


Around 180 entities listed on the Topix are scheduled to report their earnings Wednesday, while 700 others will post results Thursday and Friday. Mitsubishi Estate Co. and Toyota Motor Corp. post earnings today.


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