Tweet AUD DOWNSIDE LIMITED DESPITE CAPEX MISS Market Briefs • Japan PM Abe – Corporate tax to be cut more than planned next year – Reuters. • Japan Keidanren – Y3 trln or 14% CAPEX growth over next three years if government adopts sweeping reform – Reuters. • Japan Oct crude oil imports -3.7% y/y, LNG -12.8%, total coal -2.9%, copper-zinc exports up large. • PBOC Sheng – Yuan appreciation trend intact in long run – MNI. • Fed gives largest US banks extra year for debt rule calculation – Reuters. • Europe’s central banks in quandary as Fed tightening nears – Reuters. • Australia Q3 new CAPEX -9.2% q/q, record fall, -3.0% eyed, big miss, ‘15/16 estimate A$120.4 bln, Q3 bldg CAPEX -9.8% q/q, plant/machinery -8.2%. • Australia APRA plans to simplify securitization rules – Reuters. • NZ Oct trade deficit NZ$963 mln, annual deficit NZ$3.237 bln, imports NZ$4.79 bln, exports NZ$3.83 bln, NZ$937 mln/3.37 bln defs, NZ$5.01/4.02 bln eyed.