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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.28%, Hang Seng Futures (0.57%), ASX SPI 200 +0.40%, S&P Futures +0.01%

Aug 07 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Tuesday trade. Nikkei and ASX futures pointing to gains on the open while Hang Seng futures trading lower. S&P 500 futures flat afterhours. Australian bonds in catchup rally following Monday public holiday. FX markets steady after dollar rebounded against yen. Crude backed away from four-month high while copper trading near two-week low. Iron ore futures in correction territory.

    • China trade data forecast to show July exports shrank at a similar pace to June, weighed down by ongoing weakness in external demand. Imports forecast to have dropped at a slightly shallower pace, symbolic of domestic demand headwinds and ongoing business caution as Beijing's policy support measures struggle to gain traction. Recent China PMI data showed manufacturing activity has continued to contract amid weakness in new orders, new export orders and output.

    • Australian business and consumer sentiment surveys also on tap today, expected to show improvement following RBA hold decision. In other developments, dollar weakness spurred larger-than-expected rise in China July FX reserves, but measure of foreign direct investment fell to 25-year low. More press attention on post-BOJ yen weakness as Treasury yield backup leaves US-Japan rate differentials little changed.

  • Pre-open Company News:

    • 601156.CH -- Legend Holdings completes shareholding reduction in Eastern Air Logistics

    • 002074.CH -- Gotion High-tech initiated buy at Northeast Securities (timing uncertain)

    • 600256.CH -- Guanghui Energy initiated buy at Northeast Securities (timing uncertain)

    • 8031.JP -- Mitsui & Co. to sell Mitsui Rail Capital Europe to Beacon Rail Metro Finance; terms undisclosed

    • 543220.IN -- Max Healthcare Institute reports Q1 profit after tax INR2.91B vs year-ago INR2.29B

    • 500257.IN -- Lupin Ltd upgraded to buy at DAM Capital (timing uncertain)

    • 2801.TT -- Chang Hwa Commercial Bank reports July pre-tax income NT$1.45B

    • 600079.CH -- CSRC files investigation on Humanwell Healthcare (Group)'s actual controller Ai Luming

    • 2019.HK -- Dexin China Holdings reports July contracted sales CNY1.03B; StreetAccount notes year-ago CNY2.81B

    • ^IATA.LN -- IATA global air cargo demand (CTK) (3.4%) in Jun

    • 532500.IN -- Maruti Suzuki India initiated buy at DAM Capital (timing uncertain)

    • 535.HK -- Gemdale Properties & Investment reports July aggregate contracted sales CNY1.76B; StreetAccount notes year-ago figure was CNY3.39B

    • CPAXT.TB -- CP Axtra Public reports Q2 net income THB1.52B vs FactSet THB1.58B [9 est, THB1.45-2.04B]

    • 1137.HK -- Hong Kong Technology Venture reports July GMV HK$708M, +3.2% m/m, +12.2% y/y

    • 1813.HK -- KWG Group Holdings reports July pre-sales value CNY1.13B, (76.3%) y/y

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: Trade Balance NSA; consensus +$66.9B

        • 08:00 CST: Import Y/Y; consensus (5.4%)

        • 08:00 CST: M2 NSA Y/Y; consensus +10.9%

        • 08:00 CST: Export Y/Y; consensus (12.5%)

        • 08:00 CST: Loan Growth Y/Y; consensus

    • Hong Kong:

      • Earnings:

        • China Telecom (728.HK), Yuexiu Transport Infrastructure (1052.HK), Fortune Real Estate Investment Trust (778.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Bank Loans NSA Y/Y

      • Earnings:

        • Sumitomo Forestry (1911.JP), SUMCO (3436.JP), Resonac Holdings (4004.JP), Trend Micro (4704.JP), Shiseido (4911.JP), Takara Bio (4974.JP), Idemitsu Kosan (5019.JP), Sysmex (6869.JP), IHI (7013.JP), Mazda Motor (7261.JP), Yamaha Motor Co. (7272.JP), Nikon Corp (7731.JP), Ricoh Co. (7752.JP), BANDAI NAMCO Holdings (7832.JP), NTT DATA Group (9613.JP), SoftBank Group (9984.JP), Meiji (2269.JP), Kirin (2503.JP), Takara Holdings (2531.JP), Sumitomo Osaka Cement Co. (5232.JP), Taiheiyo Cement (5233.JP), Tokai Carbon (5301.JP), Kobe Steel (5406.JP), Mitsui Mining & Smelting Co. (5706.JP), Rakuten Bank (5838.JP), AMADA Co. (6113.JP), DAIKIN INDUSTRIES (6367.JP), Yokogawa Electric (6841.JP), Kawasaki Heavy Industries (7012.JP), Dai Nippon Printing Co. (7912.JP), Marui Group Co. (8252.JP), MS&AD Insurance (8725.JP), Tokyu Corp (9005.JP), Nitori Holdings (9843.JP)

    • South Korea:

      • Earnings:

        • LG Uplus (032640.KS), Lotte Chemical (011170.KS), SK Telecom (017670.KS), SKC Co. (011790.KS), NCsoft (036570.KS)

    • Australia:

      • Economic:

        • 10:30 AEST: Westpac-MI Consumer Confidence

        • 11:30 AEST: NAB Business Confidence

      • Earnings:

        • Charter Hall Long WALE REIT (CLW.AU), Suncorp Group (SUN.AU), CBA (CBA.AU), Newmark Property REIT (NPR.AU), Sezzle (SZL.AU)

    • India:

      • Earnings:

        • Hindalco Industries (500440.IN), Siemens (500550.IN), Adani Ports & Special Economic Zone (532921.IN), Coal India (533278.IN)

    • Singapore:

      • Earnings:

        • ARA US Hospitality Trust (XZL.SP), China Aviation Oil (G92.SP), Prime US REIT (OXMU.SP), Frasers Property (TQ5.SP), Singapore Land Group (U06.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: Export NSA Y/Y; consensus (26.4%)

        • 16:00 TST: CPI NSA Y/Y; consensus +1.9%

      • Earnings:

        • Chunghwa Telecom (2412.TT)

    • Philippines:

      • Earnings:

        • San Miguel (SMC.PM)

  • Market Data:

    • Gold (Dec 23): +$1.70 or +0.09% to $1971.70

    • WTI Crude (Sep 23): +$0.47 or +0.57% to $82.41

    • $-¥: +0.77 or +0.54% to 142.4970

    • $-KRW: +2.80 or +0.21% to 1306.9900

    • A$-$: (0.00) or (0.02%) to 0.6571

    • $-INR: +0.06 or +0.07% to 82.7574

    • $-CNY: +0.02 or +0.30% to 7.1923

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