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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.74%, Hang Seng Futures (0.25%), ASX SPI 200 (0.01%), S&P Futures +0.03%

Jun 12 ,2023

  • Synopsis:

    • Asia equities poised to open mixed Tuesday. Japan futures traded higher, while Hong Kong was lower and Australia flat after yesterday's public holiday. US contracts so far consolidating cash session gains. Tech signals positive with Nasdaq outperforming S&P 500, though Nasdaq Golden Dragon China Index fell 0.09%. Treasuries were unchanged to firmer at the short end of the curve. Dollar was better against the yen and pound but a touch weaker vs euro. Gold finished down 0.4%, erasing last week's gains. Bitcoin futures were off 2.3%. WTI crude settled down 4.3%, moving back below $70/barrel after Friday's capping of the grade's sixth drop of the past eight weeks.

    • Market sentiment buoyed by milestone effects -- S&P 500 in bull market from its October lows and closed at highest since April 2022 along with Nasdaq. But focus remains primarily on upcoming US CPI and FOMC/ECB/BOJ meetings. Fed expectations in particular discussed in detail -- seen on hold in June, 25 bp hike priced in July. Consensus looks for softer headline inflation that may be a bigger factor for the July meeting. Some attention on latest Goldman Sachs calls, raising S&P 500 price target to 4,500 from 4,000, expects L-shaped China real estate recovery in coming years, crude oil forecast revised down for the third time in six months.

    • Asia developments remain light. Ahead of Thursday's MLF operation, no follow-through on PBOC easing expectations after Governor Yi's speech was published last Friday that prompted some suggestions of a possible MLF rate cut, and commercial banks continued to lower deposit rates. BOJ narrative on prospects for a near-term policy tweak waning in line with easing market distortions and marked improvement indicated by BOJ's latest bond market survey. Regional tightening risk concentrated more on RBA following hawkish guidance.

  • Pre-open Company News:

    • 532514.IN -- Indraprastha Gas downgraded to sell from reduce at Spark Capital

    • 6660.HK -- NMPA accepts AIM Vaccine's clinical trial application of human rabies mRNA vaccine for rabies virus

    • 500570.IN -- Tata Motors releases sustainability report

    • Macquarie Group, BP and APA Group among shortlisted parties competing for Alinta's West Australian assets - The Australian

    • 2883.TT -- China Development Financial Holding reports May net income NT$772M

    • 3289.JP -- Tokyu Fudosan upgraded to buy from outperform at CLSA

    • 2882.TT -- Cathay Financial Holdings reports May net income NT$3.96B; StreetAccount notes year-ago NT$2.32B

    • 3813.HK -- Pou Sheng International (Holdings) reports May revenue CNY1.63B, +6.6% y/y

    • 6968.HK -- Ganglong China Property Group reports Jan-May contracted sales CNY5.60B

    • 1402.TT -- Far Eastern New Century reports May revenue NT$21.53B, (7.7%) y/y

    • OSP.TB -- Osotspa Public re-initiated buy at Finansia Syrus

    • 337.HK -- Greenland Hong Kong Holdings reports Jan-May contracted sales CNY6.65B; StreetAccount notes year-ago CNY5.82B

    • 966.HK -- China Taiping Insurance Holdings reports Jan to May life Insurance gross premium income CNY81.27B vs year-ago CNY78.13B

    • 551.HK -- Yue Yuen Industrial (Holdings) reports May revenue $701.0M, (7.5%) y/y

    • 9896.HK -- MINISO Group Holding initiated buy at Sealand Securities (timing uncertain)

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: M2 NSA Y/Y; consensus

        • 08:00 CST: Loan Growth Y/Y; consensus

    • Australia:

      • Economic:

        • 11:30 AEST: NAB Business Confidence; consensus

  • Market Data:

    • Gold (Aug 23): +$4.20 or +0.21% to $1973.90

    • WTI Crude (Jul 23): +$0.23 or +0.34% to $67.35

    • $-¥: +0.05 or +0.04% to 139.4570

    • $-KRW: (3.75) or (0.29%) to 1283.9300

    • A$-$: +0.00 or +0.13% to 0.6750

    • $-INR: (0.09) or (0.11%) to 82.3372

    • $-CNY: +0.02 or +0.22% to 7.1446

  • If you would like to receive the Asian Market Preview daily, please click here.

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to "Terms Of Use".

DEPOSITARY RECEIPTS:
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