Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.17%), Hang Seng Futures (0.40%), ASX SPI 200 +0.05%, S&P Futures +0.23%

Aug 09 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Thursday trade. Nikkei and Hang Seng futures pointing to small declines while ASX futures flat. US contracts advancing with DIS +2% following earnings. Bond markets a touch weaker with Aussie and New Zealand yields up 1-2 bp. FX markets steady following lackluster offshore session. Commodity markets little changed after crude reached highest since Nov-2022.

    • US CPI forecast to show y/y uptick in both headline and core inflation. Previews have highlighted influence of base year effects and impact of higher energy prices. Core goods expected to drive disinflation narrative, reflecting economic normalization dynamic. There will be usual focus on core services inflation given ongoing stickiness in some of the main components. Fed has not ruled out a September hike depending on data, though recent Fedspeak has leaned somewhat dovish and markets not pricing in any further tightening.

    • Country Garden's woes underlining liquidity stress among Chinese property developers amid slumping home sales. Contagion fears surfacing with problems extending to state-backed developers despite relatively favorable financing conditions. Some thought missed coupon payments could prompt more relief measures. Companies facing higher real borrowing costs from deflation, fueling calls for more monetary easing and financing support.

    • In other developments, Biden signed executive order limiting American investment in China. Press had already discussed the watered down measure, though it nonetheless drew criticism from China embassy spokesperson. Tech tensions remain elevated with FT reporting big Chinese tech firms ramping up NVDA chip purchases for GenAI amid fears US will impose fresh export controls.

  • Pre-open Company News:

    • 000800.CH -- Faw Jiefang Group Co. reports July total vehicle production 13,330 units vs year-ago 9,313 units

    • 3301.HK -- Ronshine China Holdings reports July contracted sales CNY947.4M; StreetAccount notes year-ago figure was CNY7.57B

    • 813.HK -- Shimao Group Holdings acquires 50% stake in Hangzhou Maoguo Yueying Real Estate Co. for CNY754.5M

    • 500180.IN -- India's Competition Commission approves sale of 90% of stake in HDFC Credila to BPEA EQT-led consortium; deal was announced 19-Jun

    • 1996.HK -- Redsun Properties Group reports July contracted sales CNY2.01B; StreetAccount notes year-ago CNY2.83B

    • 601628.CH -- China Life Insurance reports Jan-Jul accumulated premium income of CNY501.5B, +6.8% y/y

    • 2609.TT -- Yang Ming Marine Transport reports July revenue NT$11.46B, (68.8%) y/y

    • China July stock market trading turnover CNY17.812T vs month-ago CNY19.229T

    • 509480.IN -- Berger Paints proposes 1-for-5 bonus shares issue

    • 1515.HK -- China Resources Medical Holdings guides H1 profit attributable +60% y/y vs restated 1H22

    • 2633.TT -- Taiwan High Speed Rail reports H1 EPS NT$0.67 vs year-ago NT$0.15

    • 1066.HK -- Shandong Weigao Group Medical Polymer guides H1 net income attributable CNY1.20B vs year-ago restated CNY1.40B

    • OR.TB -- PTT Oil & Retail Business Public Co. reports Q2 EPS THB0.23 vs FactSet THB0.23 [3 est, THB0.21-0.24]

    • 2207.TT -- Hotai Motor reports July consolidated revenue NT$26.55B, +12.8% y/y

    • 5296.MK -- MR. D.I.Y. Group (M) declares Q2 interim single tier dividend MYR0.008/share

  • On Deck:

    • China:

      • Economic:

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

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

        • 08:00 CST: New Yuan Loans; consensus

    • Hong Kong:

      • Earnings:

        • Hua Hong Semiconductor (1347.HK), Hysan Development (14.HK), Swire Pacific (19.HK), Swire Properties (1972.HK), China Mobile (941.HK), Beijing Tong Ren Tang Chinese Medicine (3613.HK), Cowell e Holdings (1415.HK), Fantasia Holdings Group (1777.HK), Li Ning (2331.HK), Grand Pharmaceutical Group (512.HK), MTR Corp. (66.HK), SMIC (981.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Domestic CGPI NSA Y/Y; consensus

      • Earnings:

        • Sapporo Holdings (2501.JP), Nissan Chemical (4021.JP), Nippon Paint Holdings (4612.JP), Rakuten Group (4755.JP), ENEOS (5020.JP), Toho Zinc Co. (5707.JP), Recruit (6098.JP), Tokyo Electron (8035.JP), Tokyo Tatemono Co. (8804.JP), MatsukiyoCocokara & Co. (3088.JP), The Yokohama Rubber Co. (5101.JP), Fujikura (5803.JP), Japan Post Holdings (6178.JP), Oki Electric Industry Co. (6703.JP), MITSUI E&S Co. (7003.JP), Credit Saison Co. (8253.JP), Dai-ichi Life (8750.JP), T&D Holdings (8795.JP), Mitsubishi Estate (8802.JP), Sumitomo Realty & Development Co. (8830.JP), Relo Group (8876.JP)

    • South Korea:

      • Earnings:

        • Hanon Systems (018880.KS)

    • Australia:

      • Economic:

        • 11:00 AEST: Consumer Inflation Expectation; consensus

      • Earnings:

        • Danakali (DNK.AU), Downer EDI (DOW.AU), Newcrest Mining (NCM.AU), Kelly Partners Group Holdings (KPG.AU), Charter Hall Social Infrastructure REIT (CQE.AU), Nick Scali (NCK.AU), REA Group (REA.AU), Viva Leisure (VVA.AU)

    • India:

      • Earnings:

        • Steel Authority of India (500113.IN), Samvardhana Motherson International (517334.IN), Pidilite Industries (500331.IN), Hero MotoCorp (500182.IN), Container Corp. of India (531344.IN), Biocon (532523.IN)

    • Singapore:

      • Earnings:

        • City Developments (C09.SP), Singapore Technologies Engineering (S63.SP), China Everbright Water (U9E.SP), CSE Global (544.SP), Genting Singapore (G13.SP), Ho Bee Land (H13.SP), UOL Group (U14.SP)

    • Thailand:

      • Earnings:

        • CP All Public (CPALL.TB), Land & Houses Public Co. (LH.TB), PTT Public Co. (PTT.TB)

    • Philippines:

      • Economic:

        • 10:05 SST: GDP NSA Y/Y; consensus +5.8%

      • Earnings:

        • Converge Information & Communications Tech Solutions (CNVRG.PM)

  • Market Data:

    • Gold (Dec 23): ($1.30) or (0.07%) to $1949.30

    • WTI Crude (Sep 23): ($0.17) or (0.20%) to $84.23

    • $-¥: +0.29 or +0.21% to 143.6780

    • $-KRW: (3.92) or (0.30%) to 1313.1000

    • A$-$: (0.00) or (0.20%) to 0.6531

    • $-INR: +0.09 or +0.11% to 82.9228

    • $-CNY: (0.01) or (0.12%) to 7.2080

  • If you would like to receive the Asian Market Preview daily, search for Asia Pre-Market Updates in Alert Manager.

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:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE