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StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.15%), Hang Seng Futures (0.21%), ASX SPI 200 +0.17%, S&P Futures +0.02%

Jun 29 ,2023

  • Synopsis:

    • Asian markets set for mixed start to Friday trade. Nikkei and Hang Seng futures pointing to small declines on the open while ASX futures marginally higher. S&P 500 futures flat after another positive session overnight. Australian and New Zealand bonds under pressure, tracking overnight bear flattening in Treasury curve. FX markets steady after dollar index hit fresh two-week high following latest hawkish remarks from Fed. Commodity markets little changed following quiet offshore session.

    • China manufacturing PMI expected to show factory activity contracted further in June, while growth in non-manufacturing activity forecast to have slowed. China growth slowdown now widely understood with attention having already turned to whether policymakers will step up policy support. Premier Li this week reiterated promise to boost demand, though lack of specifics and follow-through from earlier pledges has disappointed markets.

    • Market attention remains on inflation trends with Tokyo core inflation rising by less forecast while headline inflation unexpectedly fell. Comes after BOJ Deputy Governor Himino noted early signs of demand-driven inflation in Japan. Other big focus today is US core PCE inflation, where expectations for a slight moderation. Overnight, eurozone CPI data was mixed with German inflation rising by more than expected and breaking three straight months of decline. However, Spanish inflation fell below ECB's target. .

  • Pre-open Company News:

    • 600276.CH -- Jiangsu Hengrui Pharmaceuticals receives NMPA drug registration approval for oteconazole capsule in severe vulvovaginal candidiasis

    • 600916.CH -- China National Gold Group Gold Jewellery chairman Cheng Xiongwei resigns due to reaching retirement age

    • 000733.CH -- China Zhenhua (Group) Science & Technology receives CSRC approval for CNY2.52B private placement

    • 002790.KS -- AmorePacific Group upgraded to neutral from sell at Goldman Sachs

    • 6669.TT -- Wiwynn upgraded to buy from hold at HSBC

    • 1044.HK -- Hengan International Group establishes ESG committee, effective 29-Jun

    • 6808.HK -- Sun Art Retail Group releases ESG report

    • CPAXT.TB -- CP Axtra Public initiated underperform at Macquarie

    • 068270.KS -- Celltrion submits application to FDA for product approval of CT-P42 (Eylea biosimilar)

    • CWBU.SP -- Cromwell European REIT sells Grade A Milan office asset for €93.6M

    • 600008.CH -- Beijing Capital Eco-Environment Protection Group Co. to acquire Chengdu Jiguanshan Water for equity value not exceeding CNY86.6M

    • 2005.HK -- SSY Group receives NMPA approval for production and registration for Tirofiban Hydrochloride Concentrated Solution for Injection

    • 540611.IN -- AU Small Finance Bank board approves equity share issuance not exceeding INR50.00B

    • 000963.CH -- Huadong Medicine receives NMPA clinical trial approval for DR30206 for the treatment of advanced tumor

    • 2142.HK -- HBM Holdings' BLA for Batoclimab (HBM9161) in generalised myasthenia gravis accepted by NMPA

  • On Deck:

    • China:

      • Economic:

        • 09:30 CST: CFLP Non Manufacturing PMI; consensus 53.5

        • 09:30 CST: CFLP PMI Manufacturing; consensus 49.1

        • 09:30 CST: CFLP Services PMI; consensus

    • Hong Kong:

      • Earnings:

        • Yidu Tech (2158.HK)

    • Japan:

      • Economic:

        • 14:00 JST: Housing Starts NSA Y/Y; consensus +2.3%

    • Australia:

      • Economic:

        • 11:30 AEST: Private Sector Credit M/M; consensus +0.4%

      • Earnings:

        • Imdex (IMD.AU), Helia Group (HLI.AU), St. Barbara (SBM.AU)

    • Singapore:

      • Earnings:

        • CDL Hospitality Trusts (J85.SP)

  • Market Data:

    • Gold (Aug 23): ($1.20) or (0.06%) to $1916.70

    • WTI Crude (Aug 23): ($0.06) or (0.09%) to $69.80

    • $-¥: +0.31 or +0.22% to 144.7610

    • $-KRW: +11.05 or +0.84% to 1320.4400

    • A$-$: +0.00 or +0.24% to 0.6619

    • $-INR: +0.06 or +0.07% to 82.0751

    • $-CNY: +0.01 or +0.10% to 7.2518

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