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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.11%), Hang Seng Futures (0.65%), ASX SPI 200 (0.39%), S&P Futures (0.02%)

Aug 17 ,2023

  • Synopsis:

    • Asian markets set for another negative start to Friday trade. Hang Seng futures pointing to more losses on the open after index neared bear market territory on Thursday. Futures in Japan and Australia also lower. US contracts little changed following another tech-led retreat overnight. Australian and New Zealand yields backtracking following recent bear steepening. FX markets steady after dollar pulled back on yen cross. Muted yen reaction to an in-line fall in Japan core ex-energy inflation. Commodities narrowly mixed with WTI crude gravitating around $80.

    • China property crisis continues with Evergrande filing for bankruptcy in New York. Country Garden also facing default with company having less than 30 days to make repayment on dollar bonds it missed last week. Market looking for meaningful policy response from authorities, though there was little new from PBOC, which reiterated pledge to keep liquidity reasonably ample and undertake "precise and forceful" policy.

    • Yuan the other area of interest as currency hovers above 16-year low. Lot of interest surrounding today's daily reference rate following series of stronger-than-expected fixings that signal growing PBOC discomfort with pace of currency's depreciation. State banks have also been reportedly selling dollars to bid up yuan and Bloomberg noted officials are mulling more drastic measures such as cutting FX RRR.

  • Pre-open Company News:

    • 603195.CH -- Gongniu Group reports H1 net income attributable CNY1.82B, +21% vs year-ago CNY1.51B

    • 688516.CH -- Wuxi Autowell Technology wins CNY380M contract from Hoshine Silicon to supply battery equipment

    • 512.HK -- Grand Pharmaceutical Group completes first patient enrollment and dosing for phase I clinical trial of APAD for the treatment of sepsis

    • 688063.CH -- Pylon Technologies proposes buyback of CNY80.0-120.0M shares at up-to CNY259.7/share

    • 002714.CH -- Muyuan Foods reports H1 net income attributable (CNY2.78B) vs guidance (CNY2.55-3.25B)

    • 1093.HK -- CSPC Pharmaceutical Group receives FDA approval for clinical trial of NBL-028 for treatment of CLDN6-expressing advanced tumors

    • 3405.JP -- Kuraray upgraded to buy from neutral at Goldman Sachs

    • 1686.HK -- SUNeVision Holdings CEO Tong Kwok-kong resigns to pursue other outside endeavors, effective 22-Sep

    • 2858.HK -- Yixin Group reports H1 adjusted net income CNY412.9M vs year-ago CNY329.8M

    • 600183.CH -- Shengyi Technology confirms preliminary H1 results

    • 3309.HK -- C-MER Eye Care Holdings guides H1 net income attributable HK$25.0-30.0M vs year-ago HK$14.8M

    • 6929.HK -- OrbusNeich Medical Group Holdings reports H1 adjusted net income $25.4M, +107% vs year-ago $12.3M

    • 600660.CH -- Fuyao Glass Industry Group reports H1 net income attributable CNY2.84B vs year-ago CNY2.38B

    • ENEL.IM -- EU clears INPEX Corp's acquisition of 50% of Enel Green Power Australia

    • 603658.CH -- Autobio Diagnostics reports H1 net income attributable CNY545.9M, +2% vs year-ago CNY533.5M

  • On Deck:

    • China:

      • Economic:

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

    • Hong Kong:

      • Earnings:

        • China Resources Cement Holdings (1313.HK), Jinchuan Group International Resources (2362.HK), SINOPEC Engineering (Group) (2386.HK), Orient Overseas (International) (316.HK), ZTE (763.HK), Guangzhou Baiyunshan Pharmaceutical Holdings (874.HK), ClouDr (9955.HK), CITIC Telecom International Holdings (1883.HK), China Hongqiao Group (1378.HK), Fu Shou Yuan International Group (1448.HK), Texhong International Group (2678.HK), Champion Real Estate Investment Trust (2778.HK), Perennial Energy Holdings (2798.HK), China Resources Beer (Holdings) (291.HK), New Horizon Health (6606.HK), China East Education Holdings (667.HK), Longfor Group Holdings (960.HK)

    • Australia:

      • Earnings:

        • 3P Learning (3PL.AU), Abacus Group (ABG.AU), Centuria Capital (CNI.AU), Enero Group (EGG.AU), Magellan Financial Group (MFG.AU), MyState (MYS.AU)

    • Malaysia:

      • Economic:

        • 00:00 EST: Current Account; consensus +MYR6.02B

        • 00:00 EST: GDP NSA Y/Y; consensus +3.5%

    • Singapore:

      • Earnings:

        • Singapore Post (S08.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: GDP NSA Y/Y (Final); consensus +1.8%

      • Earnings:

        • CTBC Financial Holding (2891.TT)

  • Market Data:

    • Gold (Dec 23): +$4.50 or +0.23% to $1919.70

    • WTI Crude (Sep 23): ($0.30) or (0.37%) to $80.09

    • $-¥: (0.68) or (0.47%) to 145.6700

    • $-KRW: (3.50) or (0.26%) to 1338.6100

    • A$-$: (0.00) or (0.42%) to 0.6405

    • $-INR: (0.16) or (0.19%) to 83.1010

    • $-CNY: (0.02) or (0.24%) to 7.2804

  • 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:
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