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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.08%, Hang Seng Futures +0.73%, ASX SPI 200 +0.34%, S&P Futures +0.02%

Jul 31 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Tuesday trade. Hang Seng and ASX futures pointing to gains on the open while Nikkei futures flat. S&P 500 futures little changed following a quiet Monday session in US. Bond markets strengthening with Aussie and NZ curves flattening. Yen weakest since early July after more than erasing post-BOJ gains. Crude steady after capping off best monthly performance since Jan-22. Copper trading at highest since April after recording its best month since January.

    • RBA decision will be a close call with slim majority of economists expecting a 25 bp rate hike. Those backing rate hike cite inflation that is still too high, sticky services inflation, and rising unit labor costs amid a tight labor market. Those calling for a hold point to Q2 inflation undershooting RBA's forecast, weakening consumption, lagged effects of past rate hikes and accompanying risk of a policy mistake.

    • China Caixin PMI forecast to show manufacturing activity stalled in July. Comes amid a flurry of policy announcements lately aimed at property and consumption. Major cities backed calls by State Council to stabilize property market while NDRC outlined efforts to boost consumption. Still, there remains a sense that announcements so far have fallen short of concrete policies economists say are needed to revive growth.

    • BOJ's YCC tweak a source of recent bond market volatility. JGB yields have surged in the aftermath with 10Y rate almost 10 bp higher than 0.50% YCC ceiling. BOJ made unscheduled buying operation on Monday in a bid to tamp down some of the upward pressure on yields. While there has been speculation surrounding BOJ's next move, Bloomberg survey showed more than 90% of respondents don't anticipate further BOJ policy changes this year.

  • Pre-open Company News:

    • 541450.IN -- Adani Green Energy reports Q1 consolidated EPS INR1.85 vs year-ago INR1.18

    • 532500.IN -- Maruti Suzuki India reports Q1 standalone EPS INR82.27 vs FactSet INR78.24 [9 est, INR46.01-88.51]

    • 1848.HK -- China Aircraft Leasing Group Holdings guides H1 net income attributable HK$200M vs year-ago (HK$130.0M)

    • 539254.IN -- Adani Energy Solutions reports Q1 consolidated EPS INR1.57, +5% vs year-ago INR1.50

    • 532500.IN -- Maruti Suzuki India board approves exercising option to acquire shares of SMG from SMC; consideration to be decided

    • 152.HK -- Shenzhen International Holdings guides H1 net income attributable HK$30-100M vs year-ago HK$582.0M

    • 517334.IN -- Samvardhana Motherson International completes acquisition of SAS from Faurecia

    • 968.HK -- Xinyi Solar re-designates chairman Lee Yin Yee as non-executive director

    • 9896.HK -- MINISO Group Holding initiated buy at Huaan Securities (timing uncertain)

    • 532522.IN -- Petronet LNG reports Q1 standalone EPS INR5.27 vs year-ago INR4.67

    • 3883.HK -- Holders of 64.4% of China Aoyuan Group's offshore senior notes have executed or acceded to RSA

    • ^INDATA -- StreetAccount Consensus Preview India Automobiles wholesale volumes Jul'23

    • ^ESG -- StreetAccount ESG Headlines (31-Jul)

    • 600018.CH -- Shanghai International Port (Group) president Yan Jun resigns due to work reason, effective 29-Jul

    • 268.HK -- Kingdee International Software Group upgraded to buy at Industrial Securities (timing uncertain)

  • On Deck:

    • China:

      • Economic:

        • 09:45 CST: Markit/Caixin PMI Manufacturing SA; consensus 50.2

    • Hong Kong:

      • Earnings:

        • Hang Seng Bank (11.HK), VPower Group International Holdings (1608.HK), Lee & Man Paper Manufacturing (2314.HK), HK Electric Investments & HK Electric Investments (2638.HK), CK Life Sciences International (Holdings) (775.HK)

    • Japan:

      • Economic:

        • 09:30 JST: Markit/JMMA PMI Manufacturing SA (Final); consensus 49.7

      • Earnings:

        • Sojitz (2768.JP), Nichirei (2871.JP), Astellas Pharma (4503.JP), Konica Minolta (4902.JP), ROHM Co. (6963.JP), Mitsui & Co. (8031.JP), Mitsubishi UFJ Financial (8306.JP), Nomura (8604.JP), Hankyu Hanshin Holdings (9042.JP), Japan Airlines Co. (9201.JP), NH Foods (2282.JP), Sega Sammy Holdings (6460.JP), Hitachi Zosen (7004.JP), Toyota Motor (7203.JP), West Japan Railway (9021.JP)

    • South Korea:

      • Economic:

        • 11:00 KST: Trade Balance NSA; consensus +$0.6B

        • 11:00 KST: Export NSA Y/Y; consensus (15.3%)

        • 11:00 KST: Import NSA Y/Y; consensus (24.9%)

      • Earnings:

        • kakaopay (377300.KS), KakaoBank (323410.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: Housing Finance SA M/M; consensus

        • 11:30 AEST: Building Approvals SA M/M; consensus

        • 14:30 AEST: RBA Official Cash Rate

      • Earnings:

        • BWP Trust (BWP.AU)

    • India:

      • Earnings:

        • Cholamandalam Investment & Finance (511243.IN)

    • Indonesia:

      • Economic:

        • 11:00 SAST: CPI NSA Y/Y; consensus +3.4%

    • Singapore:

      • Earnings:

        • Frasers Logistics & Commercial Trust (BUOU.SP)

  • Market Data:

    • Gold (Dec 23): ($5.90) or (0.29%) to $2003.30

    • WTI Crude (Sep 23): ($0.08) or (0.10%) to $81.72

    • $-¥: +1.22 or +0.87% to 142.3830

    • $-KRW: +3.73 or +0.29% to 1277.0100

    • A$-$: +0.01 or +0.95% to 0.6716

    • $-INR: (0.05) or (0.06%) to 82.2420

    • $-CNY: (0.01) or (0.14%) to 7.1387

  • 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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