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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.03%, Hang Seng Futures (0.39%), ASX SPI 200 (0.07%), S&P Futures (0.06%)

Aug 08 ,2023

  • Synopsis:

    • Asian markets set for a weaker start to Wednesday trade. Nikkei, ASX and Hang Seng futures all pointing small losses on the open. S&P 500 futures little changed afterhours. Australian and New Zealand curves bull flattening, tracking earlier Treasury rally. FX markets steady after dollar index traded back towards one-month high. Crude marginally lower following surprise API crude inventory build.

    • China inflation data forecast to show consumer prices dipping into deflation territory, Factory-gate prices also expected to have shrunk, though at a slightly shallower pace than June following rebound in commodity prices. Comes as China faces economic headwinds on multiple fronts with exports shrinking at fastest pace since Feb-2020, imports weakest since January, and a manufacturing sector stuck in contraction.

    • China's economic slowdown and mounting deflation risks likely to reinforce calls for more meaningful policy response as expectations continue to lean towards additional interest rate and/or RRR cuts in Q3. There has also been scrutiny on property developer woes after Country Garden missed bond payments. Situation has investors also looking towards policies that strengthen financing support for higher quality names..

  • Pre-open Company News:

    • 778.HK -- Fortune Real Estate Investment Trust reports H1 income available for distribution HK$447.7M, (2%) vs year-ago HK$456.9M

    • OXMU.SP -- Prime US REIT reports H1 distributable income $29.2M, (29%) vs year-ago $41.3M

    • KCE.TB -- KCE Electronics Public Co. declares interim dividend THB0.60/share

    • COM7.TB -- Com7 Public reports Q2 net income attributable THB704.1M, +14% vs year-ago THB620.0M

    • ROVIO.FH -- Sega Europe discloses that 73.3M Rovio Entertainment shares were tendered in the recommended public cash offer, representing approximately 96.3% of all Rovio shares

    • 1052.HK -- Yuexiu Transport Infrastructure reports H1 net income attributable CNY427.1M, +45% vs year-ago CNY295.3M

    • U10.SP -- UOB-Kay Hian Holdings reports H1 net income attributable SG$69.3M vs year-ago SG$51.8M

    • 728.HK -- China Telecom reports H1 net income attributable CNY20.15B vs StreetAccount CNY20.21B

    • MZH.SP -- Nanofilm Technologies International JV Sydrogen Energy and Pyxis enter MOU to deploy hydrogen fuel cell solutions

    • NVAX -- Novavax, Inc. and and SK bioscience Co., Ltd. enter into a settlement agreement - 8-K

    • ^TWDATA -- Taiwan reports July export value of electronics components $15.61B vs year-ago $16.96B, (7.9%) y/y

    • G92.SP -- China Aviation Oil reports H1 net income attributable $19.7M vs year-ago $19.7M

    • U06.SP -- Singapore Land Group reports H1 net income attributable SG$168.4M vs year-ago SG$359.8M

    • 1909.HK -- Fire Rock Holdings guides H1 revenue +20% or more y/y; StreetAccount notes year-ago figure was HK$52.4M

    • 7733.JP -- StreetAccount Consensus Metrics Preview - Olympus Q1 Earnings

  • On Deck:

    • China:

      • Economic:

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

        • 08:00 CST: M2 NSA Y/Y; consensus

        • 09:30 CST: PPI NSA Y/Y; consensus (4%)

        • 09:30 CST: CPI NSA Y/Y; consensus (0.4%)

    • Hong Kong:

      • Earnings:

        • FIH Mobile (2038.HK), Far East Horizon (3360.HK), Techtronic Industries (669.HK), China Unicom (Hong Kong) (762.HK), Uni-President China Holdings (220.HK), Cathay Pacific Airways (293.HK), The Wharf (Holdings) (4.HK), Asia Cement (China) Holdings (743.HK)

    • Japan:

      • Earnings:

        • INPEX Corp (1605.JP), Kajima (1812.JP), DeNA Co. (2432.JP), Asahi Group Holdings (2502.JP), NEXON Co. (3659.JP), GMO Payment Gateway (3769.JP), Terumo (4543.JP), Peptidream (4587.JP), FUJIFILM (4901.JP), Bridgestone (5108.JP), Nippon Sheet Glass Co. (5202.JP), DOWA HOLDINGS Co. (5714.JP), Japan Material (6055.JP), Sony (6758.JP), Hamamatsu Photonics KK (6965.JP), Honda Motor (7267.JP), Olympus (7733.JP), Nippon Express Holdings (9147.JP), Nippon Telegraph & Telephone (9432.JP), GMO Internet Group (9449.JP), HASEKO (1808.JP), Suntory Beverage & Food (2587.JP), Kuraray (3405.JP), GungHo Online Entertainment (3765.JP), Terumo (4543.JP), DIC (4631.JP), Pacific Metals Co. (5541.JP), Mitsubishi Materials (5711.JP), SMC Corp (6273.JP), Amvis Holdings (7071.JP), Isuzu Motors (7202.JP), Sompo (8630.JP), SECOM Co. (9735.JP)

    • South Korea:

      • Earnings:

        • NCsoft (036570.KS), KRAFTON (259960.KS)

    • Australia:

      • Earnings:

        • Newmark Property REIT (NPR.AU), AGL Energy (AGL.AU), AMP (AMP.AU), Alliance Aviation Services (AQZ.AU), Arena REIT (ARF.AU), Boral (BLD.AU), Cettire (CTT.AU), Downer EDI (DOW.AU), QBE Insurance Group (QBE.AU)

    • New Zealand:

      • Economic:

        • 15:00 NZST: Inflation Expectations Y/Y; consensus

      • Earnings:

        • Vital Healthcare Property Trust (VHP.NZ)

    • India:

      • Earnings:

        • Trent Ltd (500251.IN), Tata Power Co. (500400.IN), Abbott India (500488.IN), Bharat Forge (500493.IN), Zee Entertainment Enterprises (505537.IN), Berger Paints India (509480.IN), PI Industries (523642.IN), Indian Railway Catering & Tourism (542830.IN)

    • Singapore:

      • Earnings:

        • City Developments (C09.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: CPI NSA Y/Y; consensus

      • Earnings:

        • Far EasTone Telecommunications (4904.TT)

    • Thailand:

      • Earnings:

        • Thai Oil Public (TOP.TB), IRPC Public Co. (IRPC.TB)

    • Philippines:

      • Earnings:

        • Monde Nissin (MONDE.PM), SM Investments (SM.PM)

  • Market Data:

    • Gold (Dec 23): ($0.60) or (0.03%) to $1959.30

    • WTI Crude (Sep 23): ($0.14) or (0.17%) to $82.78

    • $-¥: +0.83 or +0.58% to 143.3060

    • $-KRW: +6.24 or +0.48% to 1314.0900

    • A$-$: (0.00) or (0.53%) to 0.6534

    • $-INR: +1.23 or +1.48% to 83.9793

    • $-CNY: +0.02 or +0.31% to 7.2158

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