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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.33%, Hang Seng Futures (0.53%), ASX SPI 200 +0.40%, S&P Futures (0.10%)

Jul 23 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Monday trade. Nikkei and ASX futures pointing to gains on the open while Hang Seng futures lower. US contracts steady after major indexes all logged weekly gains. Asian bond markets mixed with Aussie curve bear steeping and New Zealand rates lower. FX markets flat as dollar index trades near two-week high. Crude pulling back slightly from three-month high.

    • BOJ in focus this week with central bank expected to leave policy settings unchanged. Bloomberg reported Friday officials to discuss YCC but see little urgency to address policy side effects. Fits with surveys showing expectations of a tweak have been pushed back by a few months. Report triggered sell-off in yen, prompting warning from Japan's top FX diplomat that "all options available" to address volatility.

    • Markets also looking ahead to China Politburo meeting later this week and whether leaders guide for more supportive policy in H2. Slowing growth and deflation risks have ramped up calls for meaningful stimulus and some economists continue to eye further RRR and/or rate cuts. However, recent pledges to shore up consumption and revive private sector have lacked substance and underwhelmed markets.

  • Pre-open Company News:

    • 603529.CH -- AIMA Technology Group Co. initiated buy at BofA

    • 23.HK -- The Bank of East Asia upgraded to outperform from neutral at Haitong International

    • 532432.IN -- United Spirits downgraded to neutral from overweight at JPMorgan

    • 600085.CH -- Beijing TongRenTang initiated buy at BofA

    • UBS initiates KBC Corp 688598.CH; downgrades Suzhou Maxwell Technologies 300751.CH

    • KBANK.TB -- Kasikornbank Public downgraded to hold from buy at Maybank Investment Bank

    • 329180.KS -- HD Hyundai Heavy Industries Co. downgraded to neutral from buy at Nomura

    • 5347.MK -- Tenaga Nasional upgraded to buy from hold at Affin Hwang Investment Bank

    • 4552.JP -- JCR Pharmaceuticals downgraded to hold from buy at Jefferies

    • 136.HK -- China Ruyi Holdings' Shanghai Ruyi to acquire 49% stake in Beijing Culture for CNY2.26B in equity transfer deal

    • 300496.CH -- Thunder Software Technology downgraded to neutral from buy at Nomura

    • EXEL -- Exelixis enters into a settlement and license agreement (agreement) with Teva regarding CABOMETYX (cabozantinib)

    • 6185.HK -- CanSino Biologics announces CS-2032 Zoster Vaccine has obtained clinical trial approval from Canada

    • CWBU.SP -- Cromwell European REIT reports 1H23 total portfolio valuation of €2.30B, (1.6%) on 2H22

    • 2018.HK -- AAC Technologies Holdings guides H1 net income attributable CNY122-157M vs year-ago CNY350M

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Foreign Direct Investment Y/Y; consensus

    • Hong Kong:

      • Earnings:

        • MMG Ltd (1208.HK)

    • Japan:

      • Economic:

        • 09:30 JST: Markit/JMMA PMI Manufacturing SA (Preliminary); consensus 50

      • Earnings:

        • Mitsubishi Motors (7211.JP)

    • New Zealand:

      • Economic:

        • 10:45 NZST: Trade Balance Goods; consensus

    • India:

      • Earnings:

        • Canara Bank (532483.IN), Tata Steel (500470.IN)

    • Malaysia:

      • Economic:

        • 00:00 EST: CPI NSA Y/Y; consensus +2.4%

  • Market Data:

    • Gold (Aug 23): ($3.00) or (0.15%) to $1963.60

    • WTI Crude (Sep 23): ($0.41) or (0.53%) to $76.66

    • $-¥: (0.08) or (0.06%) to 141.7230

    • $-KRW: (0.99) or (0.08%) to 1285.6500

    • A$-$: (0.00) or (0.21%) to 0.6721

    • $-INR: (0.01) or (0.01%) to 81.9903

    • $-CNY: (0.00) or (0.01%) to 7.1868

  • 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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