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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.71%), Hang Seng Futures (0.34%), ASX SPI 200 (0.51%), S&P Futures (0.03%)

Jul 05 ,2023

  • Synopsis:

    • Asian markets set for a weaker start to Thursday trade. Nikkei, Hang Seng and ASX futures all pointing to losses on the open. S&P 500 futures flat after US markets fell in largely uneventful trade overnight. Australian and New Zealand bonds under pressure, tracking Treasury curve bear steepening. Yen picking up gains on major crosses. Crude steady following larger-than-expected API inventory draw.

    • FOMC minutes showed most participants felt some additional tightening could be appropriate though judged it prudent to keep rates steady to wait for more data. Speaking separately, NY Fed President Williams said data supports more tightening. However, there was no material shift market expectations for a 25bp hike in July before a long hold into 2024. Attention now turns to US June nonfarm payrolls (Fri) and CPI (Wed).

    • Treasury Secretary Yellen arrives in China for talks with her counterpart. No substantive breakthroughs expected with her trip aimed more at improving lines of communication and finding areas of cooperation. Her visit comes as US-Sino tensions over rare earths exports, investment and technology ratchet higher. US and EU weighing their response to China's ban on gallium and germanium while Biden reportedly set to sign executive order curbing American investment in China.

    • Fairly quiet day on the Asian economic calendar with Malaysia's central bank expected to keep rates steady. In other developments, PBOC-backed state media vowed China has ample tools to stabilize yuan even in "panic" scenario. Report comes after China's state banks lowered dollar deposit rates for second time in a matter of weeks, as authorities look to stem pace of yuan's depreciation.

  • Pre-open Company News:

    • 688166.CH -- BrightGene Bio-Medical Technology Co discloses two drugs obtaining NMPA registration approvals

    • CEO.VN -- CEO Group launches 257.3M-share secondary at VND10K/sh for expected proceeds of VND2.573T

    • 603129.CH -- Zhejiang CF Moto Power Co. initiated buy at Soochow Securities (timing uncertain)

    • WOLF -- Renesas Electronics signs 10 year silicon carbide wafer supply agreement with Wolfspeed

    • 1114.HK -- Brilliance China Automotive Holdings to hold board meeting 18-Jul to consider HK$0.96/share special dividend

    • 2333.HK -- Great Wall Motor reports June sales volume 104,957 units, +3.7% y/y

    • 168.HK -- Tsingtao Brewery chairman Huang Kexing completes sale of 15,000 shares as disclosed on 25-Apr

    • 1778.HK -- Colour Life Services Group reports FY21 net income attributable CNY17.7M vs year-ago CNY501.7M

    • 1778.HK -- Colour Life Services Group reports FY22 net income attributable CNY31.4M vs year-ago CNY17.7M

    • 543458.IN -- Adani Wilmar Q1 trading update: total revenue falls by (15%) y/y

    • 688700.CH -- Kunshan Dongwei Technology Co. completes issuance of 5.9M GDRs on Swiss Exchange to raise $105M

    • 601827.CH -- Chongqing Sanfeng Environmental Group Corp. initiated buy at Northeast Securities (timing uncertain)

    • 1186.HK -- China Railway Construction updates recent bids won CNY536.5M, 4.9% of FY22 revenue

    • 600566.CH -- Hubei Jumpcan Pharmaceutical Co. receives NMPA's drug registration approval for pregabalin oral solution

    • 500228.IN -- Index change: S&P BSE SENSEX adds JSW Steel and removes HDFC following merger of HDFC with HDFC Bank, effective 13-Jul

  • On Deck:

    • Australia:

      • Economic:

        • 11:30 AEST: Balance on Goods & Services; consensus +A$11B

    • Malaysia:

      • Economic:

        • 03:00 EST: BN Overnight Policy Rate; consensus +3.1%

    • Taiwan:

      • Economic:

        • 16:00 TST: CPI NSA Y/Y; consensus

  • Market Data:

    • Gold (Aug 23): ($3.40) or (0.18%) to $1923.70

    • WTI Crude (Aug 23): +$0.16 or +0.22% to $71.95

    • $-¥: (0.21) or (0.15%) to 144.4710

    • $-KRW: (1.50) or (0.11%) to 1303.1600

    • A$-$: (0.00) or (0.27%) to 0.6653

    • $-INR: +0.40 or +0.49% to 82.3941

    • $-CNY: +0.01 or +0.08% to 7.2465

  • 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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MAY LOSE VALUE
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