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StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.28%), Hang Seng Futures +0.87%, ASX SPI 200 (0.01%), S&P Futures +0.02%

Jul 26 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Thursday trade. Nikkei futures pointing to mild declines on the open, Hang Seng futures higher and ASX futures flat. Nasdaq futures advancing with META up 7% following revenue beat on ad turnaround and AI momentum. Australian bonds rallying after Treasury curve bull steepened in the wake of the Fed. Dollar strengthening against yen and sterling. Commodities steady with crude hovering above earlier lows.

    • Initial market reaction to Fed meeting leaning dovish. While statement was little changed from June when policymakers projected two rate hikes by end-2023, CME's FedWatch shows markets pricing out likelihood of another increase. Focus turns to ECB later this evening amid expectations of a 25 bps rate hike. Forward-looking commentary will get more attention with markets pricing in slim chance of a September rate hike.

    • Mixed takeaways from Australian Q2 CPI with some sell-side firms lowering peak rate forecasts following the larger-than-expected drop in underlying inflation. Some economists sticking to their calls for an August rate hike, citing sticky services inflation and still-tight labor market. Markets attaching only slim probability of an August rate increase, but still pricing another hike by year-end.

  • Pre-open Company News:

    • 503806.IN -- SRF Ltd resumed accumulate at Dolat Capital Market (timing uncertain)

    • 1282.HK -- Glory Sun Financial Group completes placement of 800M shares to China Grand Developments at HK$0.281/sh

    • ME8U.SP -- Mapletree Industrial Trust reports Q1 distributable income SG$89.9M vs year-ago SG$92.1M

    • 540691.IN -- Aditya Birla Capital releases sustainability report

    • 2303.TT -- United Microelectronics reports Q2 EPS NT$1.27 vs FactSet NT$1.00 [23 est, NT$0.87-1.11]

    • 000270.KS -- StreetAccount Consensus Metrics Preview - Kia Q2 Earnings

    • 532777.IN -- Info Edge India files petition for interim measures of protection against 4B Networks in relation to its INR2.88B investment

    • 601186.CH -- China Railway Construction reports Q2 new contracts CNY819.44B; StreetAccount notes year-ago CNY865.31B

    • 3933.HK -- United Laboratories's piperacillin sodium and tazobactam sodium for injection passes China's NMPA consistency evaluation for generic drugs

    • 600703.CH -- China Integrated Circuit Industry Investment Fund completes disposal of Sanan Optoelectronics shares

    • ^ESG -- StreetAccount ESG Headlines (26-Jul)

    • 523642.IN -- PI Industries releases sustainability report

    • BMW Group, General Motors, Honda, Hyundai, Kia, Mercedes-Benz Group, Stellantis NV to create new charging network JV across North America

    • 500820.IN -- Asian Paints downgraded to reduce from add at Equirus Securities (timing uncertain)

    • 500470.IN -- Tata Steel downgraded to add from buy at YES Securities (timing uncertain)

  • On Deck:

    • Japan:

      • Earnings:

        • Shin-Etsu Chemical (4063.JP), Nomura Research Institute (4307.JP), Takeda Pharmaceutical (4502.JP), Chugai Pharmaceutical (4519.JP), Fuji Electric Co. (6504.JP), OMRON (6645.JP), Fujitsu (6702.JP), Renesas Electronics (6723.JP), Shinko Electric Industries (6967.JP), Hino Motors (7205.JP), Canon (7751.JP), Meitec (9744.JP), Nisshin Seifun Group (2002.JP), MonotaRO (3064.JP), Tokuyama (4043.JP), Hitachi Construction Machinery Co. (6305.JP), Nippon Gas Co Ltd (8174) (8174.JP), Tokyo Gas Co. (9531.JP)

    • South Korea:

      • Earnings:

        • Kia (000270.KS), HANWHA SOLUTIONS (009830.KS), Samsung Engineering Co. (028050.KS), LG H&H (051900.KS), LG Chem (051910.KS), Shinhan Financial (055550.KS), LG Electronics (066570.KS), Hana Financial (086790.KS), Woori Financial Group (316140.KS), Hyundai GLOVIS Co. (086280.KS), SK Innovation (096770.KS)

    • Australia:

      • Earnings:

        • Megaport (MP1.AU), PointsBet Holdings (PBH.AU)

    • India:

      • Earnings:

        • Bajaj Holdings & Investment (500490.IN), Nestle India (500790.IN), Indian Bank (532814.IN), ACC Ltd (500410.IN), Coromandel International (506395.IN), Bajaj Finserv (532978.IN), Indus Towers (534816.IN)

    • Singapore:

      • Earnings:

        • United Overseas Bank Ltd. (Singapore) (U11.SP), CapitaLand China Trust (AU8U.SP), AIMS APAC REIT (O5RU.SP), Keppel Corp. (BN4.SP), Singapore Airlines (C6L.SP), Digital Core REIT (DCRU.SP), CapitaLand Ascott Trust (HMN.SP), Starhill Global REIT (P40U.SP)

    • Taiwan:

      • Earnings:

        • ASE Technology Holding (3711.TT)

    • Thailand:

      • Earnings:

        • i-Tail Corp. Public Co. (ITC.TB)

    • Philippines:

      • Earnings:

        • Wilcon Depot (WLCON.PM)

  • Market Data:

    • Gold (Aug 23): +$2.80 or +0.14% to $1972.90

    • WTI Crude (Sep 23): +$0.20 or +0.25% to $78.98

    • $-¥: (0.47) or (0.34%) to 140.4370

    • $-KRW: (3.59) or (0.28%) to 1273.0000

    • A$-$: (0.00) or (0.37%) to 0.6758

    • $-INR: +0.03 or +0.03% to 81.9755

    • $-CNY: +0.01 or +0.19% to 7.1500

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