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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.09%), Hang Seng Futures (0.93%), ASX SPI 200 (1.04%), S&P Futures +0.07%

Aug 15 ,2023

  • Synopsis:

    • Asian markets set for a negative start to Wednesday trade. Nikkei, Hang Seng and ASX futures all pointing to steep losses on the open. S&P 500 futures flat following downbeat. Australian and New Zealand bond yields steady following recent backup. Muted price action in FX markets as yen and offshore yuan hover near Nov-2022 lows. Crude little changed following unexpectedly large API inventory draw.

    • Sell-side firms made further downgrades to China GDP growth forecasts following underwhelming July activity data. Analysts increasingly doubtful China will achieve its 2023 growth target of ~5%, citing across-the-board weakness in consumption, property, trade, and employment, as well as spillover risks from liquidity issues plaguing real estate developers. Policy support measures have also been met with disappointment.

    • July FOMC minutes out tonight, though not expected to provide any clear guidance on timing or magnitude of future rate hikes. Instead, minutes seen reiterating data dependency and view of each meeting as "live." While market continues to price in no more tightening, odds of another rate hike by year-end have crept up over recent weeks amid thoughts disinflation momentum may start to wane.

    • Elsewhere, RBNZ expected to leave OCR on hold while making only minor changes to economic and rate projections. Reuters Tankan showed Japan manufacturer sentiment jumped in August as economy continued its post-Covid rebound. Gas futures spiked again after unions and WDS.AU made no progress on averting strike action at Australian LNG facilities.

  • Pre-open Company News:

    • 000895.CH -- Henan Shuanghui Investment & Development reports H1 net income attributable CNY2.84B, +4% vs year-ago CNY2.73B

    • 600926.CH -- Bank of Hangzhou reports preliminary H1 net income attributable CNY8.33B, +26% vs year-ago CNY6.59B

    • 148.HK -- Kingboard Holdings guides H1 net income of more than HK$1.3B, (46%) y/y

    • VGI.TB -- VGI PCL reports Q1 net profit attributable (THB366.4M) vs year-ago THB25.5M

    • 524804.IN -- Aurobindo Pharma downgraded to hold from buy at BOB Capital Markets

    • 524804.IN -- Aurobindo Pharma downgraded to add from buy at Axis Capital

    • SAWAD.TB -- Srisawad Corp. Public reports Q2 net income attributable THB1.15B vs FactSet THB1.23B [3 est, THB1.18-1.26B]

    • ^ASIAREADS -- StreetAccount Asia Reads

    • BLA.TB -- Bangkok Life Assurance Public declares interim dividend THB0.28/share

    • 3877.HK -- CSSC (Hong Kong) Shipping purchases, leases back two vessels to Landbridge for $172.4M

    • 532810.IN -- Power Finance appoints Parminder Chopra as chairman and MD, effective 14-Aug

    • 4768.JP -- OTSUKA CORP downgraded to neutral from buy at BofA

    • 405.HK -- Yuexiu Real Estate Investment Trust reports H1 net income attributable after transactions with unitholders CNY430.0M vs year-ago (CNY55.9M)

    • S58.SP -- SATS Ltd. reports Q1 core PATMI (SG$17.4M) vs year-ago (SG$19.5M)

    • 300207.CH -- Sunwoda Electronic to withdraw and resubmit application for private placement announced on 7-Mar

  • On Deck:

    • China:

      • Economic:

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

      • Earnings:

        • Huadong Medicine (000963.CH), Thunder Software Technology (300496.CH), TBEA Co. (600089.CH)

    • Hong Kong:

      • Earnings:

        • China Lilang (1234.HK), SITC International Holdings (1308.HK), Hong Kong Exchanges & Clearing (388.HK), JD Health International (6618.HK), Zhou Hei Ya International Holdings (1458.HK), Samsonite International (1910.HK), JD Logistics (2618.HK), Golden Eagle Retail Group (3308.HK), Sun Hung Kai & Co. (86.HK)

    • Japan:

      • Earnings:

        • Pan Pacific International Holdings (7532.JP)

    • Australia:

      • Earnings:

        • Endeavour Group (EDV.AU), Lifestyle Communities (LIC.AU), Dexus Property Group (DXS.AU), Mirvac (MGR.AU), Pact Group (PGH.AU), Vicinity Centres (VCX.AU), ASX (ASX.AU), Codan (CDA.AU), Evolution Mining (EVN.AU), Growthpoint Properties Australia (GOZ.AU), Inghams Group (ING.AU), Super Retail Group (SUL.AU), HomeCo Daily Needs REIT (HDN.AU), Adacel Technologies (ADA.AU), Amcor (AMC.AU), Beacon Lighting Group (BLX.AU), Centuria Office REIT (COF.AU), Domain Holdings Australia (DHG.AU), Goodman Group (GMG.AU), IPH (IPH.AU), NRW Holdings (NWH.AU), Nuix (NXL.AU), Origin Energy (ORG.AU), Steadfast Group (SDF.AU), Sonic Healthcare (SHL.AU), Southern Cross Media Group (SXL.AU), Telstra Group (TLS.AU)

    • India:

      • Earnings:

        • REC Ltd (532955.IN)

    • Singapore:

      • Earnings:

        • Singapore Exchange (S68.SP)

  • Market Data:

    • Gold (Dec 23): ($2.30) or (0.12%) to $1932.90

    • WTI Crude (Sep 23): ($0.01) or (0.01%) to $80.98

    • $-¥: +0.05 or +0.04% to 145.6130

    • $-KRW: (2.15) or (0.16%) to 1335.8600

    • A$-$: (0.00) or (0.43%) to 0.6458

    • $-INR: (0.01) or (0.01%) to 83.2004

    • $-CNY: +0.02 or +0.30% to 7.2814

  • 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".

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