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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.62%, Hang Seng Futures (0.27%), ASX SPI 200 0.00%, S&P Futures +0.12%

Aug 14 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Tuesday trade. Nikkei futures pointing to gains on the open while Hang Seng and ASX futures weaker. S&P 500 futures edging higher afterhours. Asian bonds under pressure with Australian and New Zealand curves steepening. Dollar rebound continues, as yen and yuan hit lowest levels since Nov-2022. Commodities fluctuating following lackluster Monday session.

    • Higher rate backdrop in focus as Treasury 10Y real yield hits highest since 2009. Supply pressures a big talking point following recently weak 30Y auction. Diminished recession concerns, rallying energy prices and associated upside risks to inflation among the other main drivers. Also some skepticism Chair Powell will explicitly endorse current market view that Fed tightening cycle is over.

    • PBOC expected to leave MLF rate unchanged today while rolling over ~CNY400B of one-year loans - largest amount since January. Meanwhile, latest activity data expected to offer mixed read on China's economic performance last month. Little change is expected in industrial production and fixed asset investment growth while retail sales growth is forecast to have increased.

    • Attention remains on China contagion risks as fallout continues from wealth manager missed payments. Regulatory task force established to assess risks as development fuels concerns about wider spillover from China's deepening property market malaise. Country Garden remains epicenter of real estate developer crisis with group suspending trading in 11 onshore bonds after missing coupon repayments last week.

  • Pre-open Company News:

    • 601699.CH -- Shanxi Lu'An Environmental Energy Development reports July raw coal production 4.75Mt, +1.5% y/y

    • 500002.IN -- ABB India upgraded to neutral from reduce at YES Securities (timing uncertain)

    • 601377.CH -- China Industrial Securities reports preliminary H1 net income attributable CNY1.80B vs year-ago CNY1.38B

    • 500875.IN -- ITC Ltd reports Q1 standalone EPS INR3.93 vs FactSet INR3.93 [7 est, INR3.68-4.40]

    • 500875.IN -- ITC Ltd updates on proposed demerger of hotel business, will retain 40% stake in ITC Hotels and pursue separate listing

    • 000671.CH -- Yango Group to be delisted by Shenzhen Stock Exchange on 16-Aug

    • 500043.IN -- Bata India downgraded to hold from buy at Sharekhan

    • 601225.CH -- Shaanxi Coal Industry chairman Yang Zhaogan resigns due to reaching retirement age

    • 500312.IN -- Oil & Natural Gas upgraded to buy from add at YES Securities (timing uncertain)

    • DGCA reports July domestic air passenger traffic +24.7% y/y

    • 603501.CH -- Will Semiconductor Co Ltd Shanghai reports H1 net income attributable CNY153.1M vs guidance CNY128.5-192.8M

    • AWX.SP -- AEM Holdings upgraded to buy from hold at Maybank Investment Bank

    • NWTN -- NWTN, Inc. to acquire 27.5% stake in Evergrande New Energy Auto for $500M

    • 603885.CH -- Juneyao Airlines reports July traffic +105.82% y/y

    • 603456.CH -- Zhejiang Jiuzhou Pharmaceutical reports H1 net income attributable CNY621.7M, +33% vs year-ago CNY468.1M

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Foreign Direct Investment Y/Y; consensus

        • 10:00 CST: Industrial Output NSA Y/Y; consensus +4.1%

        • 10:00 CST: Retail Sales NSA Y/Y; consensus +4.5%

    • Hong Kong:

      • Earnings:

        • Xinte Energy (1799.HK), Mobvista (1860.HK), Weimob (2013.HK), MMG Ltd (1208.HK), 361 Degrees International (1361.HK), CStone Pharmaceuticals (2616.HK), WH Group (288.HK), Yuexiu Real Estate Investment Trust (405.HK)

    • Japan:

      • Economic:

        • 08:50 JST: GDP SA Q/Q (Preliminary); consensus +0.5%

        • 08:50 JST: GDP SAAR Q/Q (Preliminary); consensus +2.6%

        • 08:50 JST: GDP Y/Y (Preliminary); consensus +1%

        • 13:30 JST: Retail Sales NSA Y/Y (Final); consensus +7%

        • 13:30 JST: Industrial Production SA M/M (Final); consensus +1.8%

      • Earnings:

        • Daito Trust Construction (1878.JP)

    • South Korea:

      • Earnings:

        • Lotte Corp (004990.KS), HANJIN KAL (180640.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: Wage Price Index Y/Y; consensus +3.7%

      • Earnings:

        • GUD Holdings (GUD.AU), Charter Hall Retail REIT (CQR.AU), Pro Medicus (PME.AU), SEEK (SEK.AU), Mirvac (MGR.AU), Dexus Property Group (DXS.AU), National Australia Bank (NAB.AU), Pact Group (PGH.AU), SG Fleet Group (SGF.AU), Seven West Media (SWM.AU), Transurban Group (TCL.AU)

    • New Zealand:

      • Earnings:

        • Fletcher Building (FBU.NZ), Napier Port Holdings (NPH.NZ)

    • Singapore:

      • Earnings:

        • SATS Ltd. (S58.SP)

  • Market Data:

    • Gold (Dec 23): ($5.00) or (0.26%) to $1939.00

    • WTI Crude (Sep 23): ($0.14) or (0.17%) to $82.37

    • $-¥: +0.56 or +0.39% to 145.4850

    • $-KRW: +4.13 or +0.31% to 1334.7400

    • A$-$: (0.00) or (0.20%) to 0.6486

    • $-INR: +0.31 or +0.38% to 83.3000

    • $-CNY: +0.02 or +0.28% to 7.2575

  • If you would like to receive the Asian Market Preview daily, please 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".

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