Jun 27 ,2023
Synopsis:
Asian markets set for a positive start to Wednesday trade. Nikkei, ASX and Hang Seng futures all pointing to gains on the open. S&P 500 and Nasdaq futures weakening afterhours following reports US considering restricting exports of AI chips to China. Bonds mixed as Aussie yields continue to push lower while NZ curve steepening. Yen strengthening against other currencies, dollar steady elsewhere. Commodity markets little changed after falling 2% overnight.
Australian May CPI data out today. Monthly inflation forecast to have fallen from 6.8% y/y in April to 6.1% in May, reflecting drop in cost of fuel, holiday travel and new dwellings. However, previews have also noted upside risks from rental inflation and insurance premiums, which could tilt risks further towards a July rate hike. Market currently pricing around two more rate hikes in 2023, and 39% probability of a July increase.
ECB Forum on Central Banking continues tonight, where leaders of \world's major central banks will speak. Fed Chair Powell, BOJ Governor Ueda, ECB President Lagarde and BOE Governor Bailey will participate in panel discussion. Theme of forum is "Macroeconomic stabilization in a volatile inflation environment". Overnight Lagarde warned eurozone inflation remains too high and rates must stay sufficiently restrictive for as long as necessary.
Pre-open Company News:
6639.HK -- Arrail Group reports FY net income attributable (CNY219.9M) vs year-ago (CNY701.0M)
6857.JP -- Advantest appoints Yasuo Mihashi as CFO
6198.HK -- Qingdao Port International to acquire assets from controlling shareholder; to be paid in new shares, cash
002709.CH -- Guangzhou Tinci Materials Technology acquires 17.0% stake in subsidiary from minority holder for CNY128M cash
1250.HK -- Shandong Hi-Speed New Energy Group reports May consolidated power generation 542,174 MWh, +1.9% y/y
DL1.VN -- Alpha Seven Group appoints Nguyen Van Quy as chairman, effective 25-Jun
1052.HK -- Yuexiu Transport Infrastructure May operating statistics
GPSC.TB -- Global Power Synergy invests INR19.17B (THB8.63B) in Avaada Energy
^ASIAREADS -- StreetAccount Asia Reads
1811.HK -- CGN New Energy Holdings calls off voluntary winding-up of Nanyang General Light; explores possible disposition of unit
6969.HK -- EVE Energy to cut up to 3.5% stake in Smoore International within one year via block trade
^ESG -- StreetAccount ESG Headlines (27-Jun)
^ESG -- StreetAccount Presents: BTU Analytics - CCS Update (27-June-23)
6185.HK -- CanSino Biologics receives NMPA clinical trial application for ACYW135 Meningococcal Conjugate Vaccine (CRM197 carrier) on people aged 7-59
023530.KS -- Lotte Shopping Co. downgraded to reduce from neutral at Nomura
On Deck:
Hong Kong:
Earnings:
Bosideng International Holdings (3998.HK), L.K. Technology Holdings (558.HK)
Japan:
Earnings:
J. FRONT RETAILING Co. (3086.JP)
Market Data:
Gold (Aug 23): +$0.40 or +0.02% to $1924.20
WTI Crude (Aug 23): +$0.16 or +0.24% to $67.86
$-¥: +0.29 or +0.21% to 143.8200
$-KRW: (8.46) or (0.65%) to 1297.1300
A$-$: +0.00 or +0.04% to 0.6681
$-INR: (0.01) or (0.01%) to 81.9940
$-CNY: (0.02) or (0.25%) to 7.2192
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