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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.78%), Hang Seng Futures (1.18%), ASX SPI 200 (0.40%), S&P Futures +0.01%

Jun 20 ,2023

  • Synopsis:

    • Asian markets set for a negative start to Wednesday trade. Nikkei, Hang Seng and ASX futures all pointing to losses on the open. Follows quiet session in US where major indexes finished lower. S&P 500 futures flat afterhours. Australian and New Zealand bond markets rebounding after Treasuries were firmer across the curve. FX markets steady following lackluster offshore session where yen drifted up from its recent lows. Crude and gold nursing losses.

    • China LPR cut reinforcing expectations of additional easing this year, including potential for further reductions to interest rates and RRR. Recent China equity market weakness chalked up in part to disappointment at lack of follow-through on stimulus from State Council after it flagged more forceful policy response on Friday. Also some discussion about how ongoing consumer caution is limiting effectiveness of policy easing.

    • Fed Chair Powell in focus later tonight as he prepares to testify before Congress. Press takes suggest Powell may face much questioning from legislators on contrast between June's rate hold and SEP showing forecasts for two more rate hikes this year. Powell may also face pushback from some lawmakers about extent of rate hikes so far and risk a policy mistake from continued tightening.

    • Light day on the economic calendar. Reuters Tankan showed Japan manufacturer sentiment improved further this month while services sector sentiment remained at a high level. April BOJ meeting minutes up next. Geopolitics remains in the headlines as press takeaways from Blinken's visit to Beijing noted trip helped eased tensions. However, lack of progress on core issues separating US and China leaves relationship fraught.

  • Pre-open Company News:

    • 6069.HK -- SY Holdings Group to sell accounts receivable to Yunnan International Trust for CNY79.2M

    • 14.HK -- Hysan Development upgraded to outperform from neutral at Haitong International

    • 728.HK -- China Telecom reports May mobile net adds 0.9M

    • China May postal industry revenue CNY123.19B, +12.2% y/y

    • 002460.CH -- Ganfeng Lithium Group updates on resource estimation of Goulamina Spodumene project

    • 683.HK -- Kerry Properties wins tender for Shanghai land plots for CNY8.78B (HK$9.66B)

    • 300888.CH -- Winner Medical releases environmental, social and governance report

    • 3333.HK -- China Evergrande Group provides restructuring update; expects to submit court application in late July

    • 4578.JP -- FDA panel to meet 22-Aug to review ReCor Inc.'s PMA for Paradise URD System

    • 5711.JP -- Mitsubishi Materials upgraded to neutral from sell at UBS

    • BN4.SP -- Keppel Corp. awarded SG$950M contract for District Cooling System in Jurong Lake District

    • 762.HK -- China Unicom (Hong Kong) reports May operational statistics: "Big Connectivity" subscribers 917.9M vs month-ago 909.0M

    • 4911.JP -- Shiseido upgraded to outperform from neutral at SMBC Nikko

    • AIR.FP -- Philippine Airlines finalises a purchase agreement for the firm order of nine Airbus A350-1000s

    • 2315.HK -- Biocytogen Pharmaceuticals receives SSE's letter of acceptance for the A share issuance on STAR Board

  • On Deck:

    • Hong Kong:

      • Earnings:

        • China Dongxiang (Group) (3818.HK)

  • Market Data:

    • Gold (Aug 23): +$1.30 or +0.07% to $1949.00

    • WTI Crude (Jul 23): $0.00 or 0.00% to $70.50

    • $-¥: (0.51) or (0.36%) to 141.3210

    • $-KRW: +8.28 or +0.65% to 1285.3900

    • A$-$: (0.01) or (1.25%) to 0.6785

    • $-INR: +0.08 or +0.10% to 81.9918

    • $-CNY: +0.05 or +0.76% to 7.1808

  • 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".

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