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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.83%, Hang Seng Futures 0.00%, ASX SPI 200 (0.10%), S&P Futures +0.03%

Jun 22 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Friday trade. Nikkei futures pointing to gains on the open while ASX and Hang Seng futures little changed. Mainland China markets remain closed for Dragon Boat Festival. S&P 500 futures flat after index snapped a three-day losing streak overnight. Bond markets under pressure with Australian yield curve continuing to invert. Muted moves in FX markets after dollar swung up from earlier lows on major crosses. Crude nursing heavy losses after pulling back from a two-week high.

    • Central banks reaccelerating pace of tightening after BOE and Norges Bank hiked by 50 bp overnight. Several central banks have either resumed or stepped up pace of tightening with inflation proving stickier than assumed. Hawkish policy stance fueling more upward pressure on yields and deepening already inverted yield curves, driving more discussion about recession signaling.

    • Yen continues to face depreciation pressures after currency fell to its lowest against dollar since mid-Nov 2022. Weakness attributed in large to part to widening rate differentials as BOJ's easing bias contrasts notably with hawkish moves by its central bank peers. Pace of selling spurring more speculation about government intervention with economists recently eyeing 145 per dollar handle.

    • Fallout continues from President Biden's off-the-cuff description of China President Xi as a dictator. China lodged an official complaint to US ambassador Burns after protesting strongly against the remarks. Biden said he still expects a meeting with Xi in near-term, though unclear whether latest flare-up will set back the limited progress made during Secretary of State Blinken's recent visit to Beijing. China's state media have so far made no mention of Biden's remarks.

  • Pre-open Company News:

    • 1310.HK -- HKBN Ltd. resumed underweight at JPMorgan; prior rating was overweight

    • C6L.SP -- Singapore Airlines resumed reduce at Phillip Capital

    • AUE.SP -- Golden Energy & Resources receives Singapore court approval for capital reduction regarding delisting of Golden Energy Mines

    • QCOM -- Qualcomm announces multi-year collaboration with Sony (6758.JP) to deliver next generation smartphones

    • VOD.LN -- EU clears Sumitomo's acquisition of 20% of DAB from Vodafone

    • ^ESG -- Summit for a New Global Financial Pact opened today to mobilize climate finance (22-June)

    • 532541.IN -- Coforge acquires additional 20% stake in Coforge Business Process Solutions for INR3.37B in cash

    • ICPT -- Intercept Pharmaceuticals receives CRL for Obeticholic Acid; to discontinue all NASH-related investment

    • Japan May nationwide core CPI +3.2% y/y vs consensus +3.1% and +3.4% in prior month

    • M1GU.SP -- Sabana Industrial Real Estate Investment Trust responds to Quarz's demand to convene EGM

    • F -- US DoE announces conditional commitment for up to $9.2B loan to BlueOval SK

    • S59.SP -- SIA Engineering signs A321neo maintenance agreement with Hawaiian Airlines; terms undisclosed

    • GE Aerospace, Hindustan Aeronautics sign MoU to produce fighter jet engines for Indian Air Force; terms undisclosed

    • 500253.IN -- LIC Housing Finance appoints T Adhikari as COO, effective immediately

    • 500575.IN -- Voltas downgraded to neutral from buy at UBS

  • On Deck:

    • Hong Kong:

      • Earnings:

        • Pacific Textiles Holdings (1382.HK), EC Healthcare (2138.HK)

    • Japan:

      • Economic:

        • 09:30 JST: Markit/JMMA PMI Manufacturing SA (Preliminary); consensus 50.4

    • Malaysia:

      • Economic:

        • 00:00 EST: CPI NSA Y/Y; consensus +2.9%

  • Market Data:

    • Gold (Aug 23): +$0.50 or +0.03% to $1924.20

    • WTI Crude (Aug 23): ($0.06) or (0.09%) to $69.45

    • $-¥: +1.15 or +0.81% to 142.9600

    • $-KRW: +6.92 or +0.54% to 1295.6400

    • A$-$: (0.00) or (0.52%) to 0.6761

    • $-INR: (0.02) or (0.03%) to 81.9193

    • $-CNY: (0.00) or (0.01%) 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".

DEPOSITARY RECEIPTS:
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