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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.08%), Hang Seng Futures (0.58%), ASX SPI 200 (1.26%), S&P Futures (0.02%)

Jul 06 ,2023

  • Synopsis:

    • Asian markets set for negative start to Friday trade. Nikkei, Hang Seng and ASX futures all pointing to losses on the open. S&P 500 futures steady after a volatile offshore session. Bond markets under pressure with Australian and New Zealand yields tracking overnight bear steepening of Treasury curve. FX markets unchanged after dollar swung in both directions following ADP data. Commodity markets were similarly volatile.

    • US nonfarm payrolls forecast to show moderation in headline jobs growth, fall in unemployment rate and unchanged hourly earnings (m/m). Previews highlighted market's consistent underestimation of payrolls growth, reinforced by hotter-than-expected ADP payrolls data overnight. CME's FedWatch shows market now pricing in greater probability of two more rate hikes by end-2023.

    • Late Thursday Chinese Premier Li reiterated pledge to speed up policy measures to bolster economy, though again did not go into specifics. Comments fit with views any measures announced will be targeted amid debt constraints. Lot of attention to reports on Thursday that Chinese banks have stopped purchasing bonds in Shanghai free trade zone as Beijing tightens rules around local government debt issuance.

    • In other developments, BOJ Deputy Governor Uchida tempered expectations of a policy change, arguing in favor of continuing YCC for time being. Treasury Secretary Yellen in Beijing for talks with her Chinese counterpart, though no breakthroughs expected beyond efforts to improve lines of communication. Saudi Arabia unexpectedly lifted crude selling price for Asia buyers.

  • Pre-open Company News:

    • 011070.KS -- LG Innotek Co. releases 2022-2023 sustainability report

    • PHO.NO -- Asieris Pharmaceuticals completes enrollment for Phase III bridging trial of Hexvix

    • 1813.HK -- KWG Group Holdings appoints Alvarez & Marsal Corporate Finance as financial advisor

    • 541450.IN -- Adani Green Energy plans to raise INR123.00B in equity via institutional placement

    • CSH.LN -- Civitas to delist from London Stock Exchange; expected to take effect 4-Aug

    • 1966.HK -- China SCE Group Holdings reports June contracted sales CNY3.01B, (50%) y/y

    • 006360.KS -- GS Engineering & Construction expects (KRW550B) loss in H1 from Incheon complex reconstruction

    • Z25.SP -- Yanlord Land Group reports June total contracted pre-sales CNY2.88B, (77.1%) vs year-ago CNY12.58B

    • M1GU.SP -- Sabana Industrial REIT largest holder ESR responds to Quarz 4-Jul open letter

    • 754.HK -- Hopson Development Holdings reports June property contracted sales CNY1.91B

    • 751.HK -- Skyworth Group completes mandatory unconditional general offer for Skyworth Digital on 3-Jul

    • 2303.TT -- United Microelectronics reports June revenue NT$19.06B, (23.2%) y/y

    • BIIB -- Follow-up: FDA approves Leqembi sBLA for 'traditional approval' opening door to Medicare coverage

    • 1816.HK -- CGN Power reports H1 total power generation of nuclear power generating units 113,292 GWh, +14.2% y/y

    • 532978.IN -- Bajaj Allianz Life Insurance reports June premium INR8.87B

  • On Deck:

    • China:

      • Economic:

        • 16:00 CST: FX Reserves; consensus +$3175B

    • Japan:

      • Economic:

        • 08:50 JST: FX Reserves M/M; consensus

        • 14:00 JST: Leading Index (Preliminary); consensus

      • Earnings:

        • YASKAWA Electric (6506.JP)

    • Taiwan:

      • Economic:

        • 16:00 TST: Export NSA Y/Y; consensus (12%)

  • Market Data:

    • Gold (Aug 23): +$2.40 or +0.13% to $1917.80

    • WTI Crude (Aug 23): +$0.03 or +0.04% to $71.83

    • $-¥: (0.68) or (0.47%) to 143.9610

    • $-KRW: +4.58 or +0.35% to 1308.7300

    • A$-$: (0.00) or (0.42%) to 0.6627

    • $-INR: +0.37 or +0.45% to 82.7668

    • $-CNY: +0.00 or +0.02% to 7.2492

  • 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
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE