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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.29%, Hang Seng Futures (0.16%), ASX SPI 200 (0.07%), S&P Futures +0.21%

Jun 28 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Thursday trade. Nikkei futures pointing to mild gains on the open while Hang Seng and ASX futures little changed. US contracts advancing with MU +3% after guiding Q4 revenue above analyst expectations. Banks also higher afterhours following Fed stress test. Bonds firming with Australian and New Zealand curves bull flattening. FX markets steady after dollar strengthened following Chair Powell's remarks. Crude just below overnight highs in aftermath of DOE inventory draw.

    • Hawkish takeaways from ECB Forum on Central Banking. Fed Chair Powell said would not rule out Fed moving at consecutive meetings. ECB President Lagarde reiterated expectation for July rate hike though less certain on follow-up moves. BOE Governor Bailey reiterated intent to bring down inflation. BOJ Governor Ueda maintained easing bias, but though flagged potential policy shift if there is confidence inflation is tracking to 2% target in 2024.

    • US-China tensions in focus following Wednesday report White House considering new restrictions on AI chip exports to China. Separately, China approved new foreign relations law allowing for retaliation against western-imposed sanctions. Beijing also conditioned restoration of military-to-military communications on US lifting sanctions (on its Defence Minister Li Shangfu)..

  • Pre-open Company News:

    • 1877.HK -- FDA approves Junshi Biosciences to initiate phase III study of tifcemalimab combined with toripalimab for SCLC

    • 1347.HK -- China Integrated Circuit Industry Investment Fund (Phase II) to invest CNY3B in Hua Hong Semiconductor's STAR Market IPO

    • 6875.TT -- Liquidia Corporation exclusively licenses North American rights to Pharmosa Biopharm's L606; Pharmosa to receive $10M up front

    • 799.HK -- IGG Inc guides H1 net income (HK$400M) vs year-ago (HK$172M)

    • 600233.CH -- YTO Express Group Co. initiated buy at Orient Securities (timing uncertain)

    • KLR -- Tata Communications to acquire Kaleyra for $7.25/share in cash

    • 2303.TT -- United Microelectronics completes acquisition of remaining 30% stake in United Semiconductor (Xiamen)

    • 500477.IN -- Ashok Leyland releases FY2022-23 business responsibility and sustainability report

    • 486.HK -- Rusal provides details on holder SAUL Partners' proposed items for EGM agenda

    • 2801.JP -- Kikkoman downgraded to neutral from buy at Mizuho Securities

    • 3692.HK -- Hansoh Pharmaceutical Group's dapagliflozin tablets receive drug registration approval from NMPA

    • H78.SP -- Insider transaction: Hongkong Land Holdings CEO Robert Wong discloses aggregate purchase of 230K shares

    • 636.HK -- Kerry Logistics Network guides H1 core net income HK$290M vs year-ago HK$2.37B

    • 540777.IN -- HDFC Limited holds 50.33% post acquisition; HDFC Life has now become a subsidiary of HDFC Ltd

    • 2145.HK -- Shanghai Chicmax Cosmetics initiated overweight at Orient Securities (timing uncertain)

  • On Deck:

    • Hong Kong:

      • Earnings:

        • China South City Holdings (1668.HK), Productive Technologies Co. (650.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +5.3%

        • 09:30 JST: Import NSA Y/Y (Final); consensus

        • 09:30 JST: Trade Balance NSA (Final); consensus

        • 09:30 JST: Export NSA Y/Y (Final); consensus

      • Earnings:

        • Takashimaya Co. (8233.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Retail Sales SA M/M (Preliminary); consensus +0.2%

  • Market Data:

    • Gold (Aug 23): ($4.30) or (0.22%) to $1917.90

    • WTI Crude (Aug 23): ($0.24) or (0.35%) to $69.32

    • $-¥: +0.29 or +0.20% to 144.3600

    • $-KRW: +9.20 or +0.71% to 1308.6300

    • A$-$: (0.01) or (1.26%) to 0.6601

    • $-INR: +0.03 or +0.03% to 82.0265

    • $-CNY: +0.02 or +0.32% to 7.2435

  • 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:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
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