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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.15%), Hang Seng Futures 0.00%, ASX SPI 200 (0.14%), S&P Futures +0.05%

Jun 21 ,2023

  • Synopsis:

    • Asian markets set for a muted start to Thursday trade. Nikkei and ASX futures pointing to small declines on the open. Greater China markets closed for Dragon Boat Festival. S&P 500 futures flat after US markets fell for a second session overnight. Australian bond rally continues while New Zealand yields little changed. Yen steadying after weakening to a fresh seven-month low against dollar in the wake of Fed Chair Powell's testimony. Crude unchanged near two-week high following larger-than-expected API inventory draw.

    • Nothing particularly incremental from Fed Chair Powell's Congressional testimony, in which he reiterated Fed expects more tightening by year-end. Fed funds futures little changed in aftermath with CME's FedWatch showing ~70% odds of a 25 bp rate hike in July. Powell will testify before Senate Banking Committee on Thursday, though is largely expected to rehash his comments from Wednesday.

    • Central banks in focus later Thursday. BOE expected to hike interest rates by 25 bp though a 50 bp move also a possibility following another hotter-than-expected inflation read this week. SNB also meets and is expected to deliver a 25 bp rate hike (though markets were pricing in a 50 bp move). Quiet from a data perspective with near-term focus on flash PMIs due out Friday.

  • Pre-open Company News:

    • 601868.CH -- China Energy Engineering upgraded to buy at Zhongtai Securities (timing uncertain)

    • 005490.KS -- POSCO forms joint venture with CNGR Advanced Material to invest CNY2.2B in nickel refinery project in Pohang

    • PTT.TB -- PTT Public Co revises up FY23 investment plan from THB33.34B to THB93.60B

    • May World Crude Steel production (5.1%) y/y to 161.6 Mt -- World Steel Association

    • D05.SP -- DBS Group Holdings responds to penalty imposed by MAS for breaches of AML requirements

    • 002600.CH -- Lingyi iTech (Guangdong) terminates plans to issue GDRs, to focus on convertible bond issuance

    • 504093.IN -- Panasonic Energy India and Mazda enter into discussions to establish partnership for EV batteries

    • 603087.CH -- Gan & Lee Pharmaceuticals's 230.9M restricted shares will be lifted for trading on 29-Jun

    • 003670.KS -- POSCO Future M Co. forms joint venture with CNGR Advanced Material to produce high-nickel percursor

    • 665.HK -- Haitong International Securities raises net proceeds of HK$1.16B from three-for-ten rights issue

    • 6158.HK -- Zhenro Properties Group to dispose 80% equity interest of Zhengqi Real Estate for CNY75.0M

    • 500387.IN -- Shree Cement confirms tax department survey

    • 3.HK -- Towngas Smart Energy to acquire all shares in Towngas Renewable Energy (HK)

    • AIR.FP -- Avolon Avolon signs MoU to order 20 Airbus A330neos; terms undisclosed

    • OSP.TB -- Osotspa Public declares interim dividend THB0.8/share

  • On Deck:

  • Market Data:

    • Gold (Aug 23): ($0.70) or (0.04%) to $1944.20

    • WTI Crude (Aug 23): $0.00 or 0.00% to $72.53

    • $-¥: +0.26 or +0.18% to 141.6940

    • $-KRW: (0.99) or (0.08%) to 1287.7300

    • A$-$: +0.00 or +0.18% to 0.6798

    • $-INR: (0.05) or (0.06%) to 81.9413

    • $-CNY: (0.00) or (0.05%) to 7.1785

  • 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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