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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.60%), Hang Seng Futures (0.48%), ASX SPI 200 (0.24%), S&P Futures +0.06%

Aug 22 ,2023

  • Synopsis:

    • Asia equities poised for a softer open Wednesday. Futures in Japan, Australia and South Korea traded lower. US contracts were marginally higher after moderate losses in S&P 500 and slight gains in Nasdaq, both closing near intraday lows. Despite the latter's outperformance, tech signals were mixed as SOX declined and Nasdaq Golden Dragon China Index edged down. Treasuries were mixed with the curve flattening following another backup in yields on Monday. Dollar weaker vs yen but firmer vs euro. Gold finished up 0.2%. Bitcoin futures off 0.8%. WTI crude settled down 0.6%.

    • Earnings returned to fore as Macy's (M) sharp selloff on the back of accelerating credit card delinquencies was a notable drag on sentiment. Attention heightening ahead of Nvidia (NVDA) results later today. Press flagged potential for broader market impact given its weighting of over 3% of the S&P 500. Financials were the biggest drag on S&P 500 after S&P's downgraded multiple institutions. On China names, Baidu (BIDU) rallied after notably beating expectations. Bond yields remained a focus, though 10y price action moderated after hitting a post-2007 high. Markets looking to Friday's Jackson Hole conference for more clarity on the outlook.

    • As China LPR disappointment continued to reverberate, suggestions that authorities are protecting banks' thin NIMs placing more attention on upcoming mainland bank earnings starting today with China Construction Bank (601939.CH). Most of the five major names expected to report notable declines in revenue. While details remain light, local media reported finance ministry announced 10 preferential tax policies to support small and private business, while CSRC outlined a range of measures following up on their pledge to boost capital markets via lower transaction costs and red tape, as well as development of equity funds.

    • Regional macro calendar remains light. New Zealand retail sales remained in decline with components broadly weaker in real terms outside of autos. PMI cycle begins today with Japan flash manufacturing. Recent readings continued to show services growth taking up the slack from manufacturing contraction. Further ahead, BOK to meet tomorrow, though analysts unanimously expect no change in policy. Friday's Tokyo CPI will offer early reads on August inflation, though attention has waned after BOJ delivered its long-awaited YCC tweak with no additional moves expected for the rest of this year.

  • Pre-open Company News:

    • 600346.CH -- Hengli Petrochemical reports H1 operating data: refined chemical production 12.7M tonnes

    • 551.HK -- Yue Yuen Industrial (Holdings) downgraded to hold from buy at HSBC

    • 532321.IN -- Zydus Lifesciences expects to complete acquisition of 6.5% stake in Mylab Discovery Solutions in 20-30 days; deal announced 23-Jun

    • 2600.HK -- Aluminum Corp. of China reports H1 CAS net income attributable CNY3.42B, (23%) vs year-ago CNY4.46B

    • 603650.CH -- Red Avenue New Materials Group reports H1 net income attributable CNY223.1M, +21% vs year-ago CNY183.9M

    • 780.HK -- Tongcheng-Elong Holdings reports Q2 adjusted net income CNY592.4M vs FactSet CNY474.5M

    • 2886.TT -- Mega Financial Holding reports H1 EPS NT$1.34 vs year-ago NT$0.57

    • 1848.HK -- China Aircraft Leasing Group Holdings reports H1 net income attributable HK$201.2M vs guidance HK$200M

    • OISHI.TB -- Thai Beverage Public acquires 18.8% of Oishi Group shares; provides update on delisting tender offer for remaining shares

    • ^ESG -- StreetAccount ESG Headlines (22-Aug)

    • 5285.MK -- Sime Darby Plantation reports July production data

    • 9022.JP -- Central Japan Railway to conduct stock split on 1:5 basis

    • 000703.CH -- Hengyi Petrochemical reports H1 net income attributable CNY76.1M vs year-ago CNY1.81B

    • 600346.CH -- Hengli Petrochemical reports H1 net income attributable CNY3.05B, in line with guidance

    • 000783.CH -- Changjiang Securities reports preliminary H1 net income attributable CNY1.11B, +38% vs year-ago CNY799.5M

  • On Deck:

    • China:

      • Earnings:

        • CSI Solar (688472.CH)

    • Hong Kong:

      • Earnings:

        • Canvest Environmental Protection Group (1381.HK), Livzon Pharmaceutical Group (1513.HK), Innovent Biologics (1801.HK), ESR Group (1821.HK), Genertec Universal Medical Group (2666.HK), AIA Group (1299.HK), Wuxi Biologics (Cayman) (2269.HK), China Oilfield Services (2883.HK), ZJLD Group (6979.HK), China Overseas Grand Oceans Group (81.HK), Zhongsheng Group Holdings (881.HK), Ming Yuan Cloud Group Holdings (909.HK), China Merchants Land (978.HK), Alphamab Oncology (9966.HK)

    • Japan:

      • Economic:

        • 09:30 JST: Markit/JMMA PMI Manufacturing SA (Preliminary); consensus

    • Australia:

      • Earnings:

        • APA Group (APA.AU), Autosports Group (ASG.AU), Schaffer Corp. (SFC.AU), Santos (STO.AU), The Lottery Corp. (TLC.AU), Worley (WOR.AU), GR Engineering Services (GNG.AU), Hansen Technologies (HSN.AU), Qualitas (QAL.AU), SG Fleet Group (SGF.AU), Woolworths Group (WOW.AU), Experience Co. (EXP.AU), IVE Group (IGL.AU), Lovisa Holdings (LOV.AU), Nine Entertainment Co. Holdings (NEC.AU), Propel Funeral Partners (PFP.AU), Qantas Airways (QAN.AU), Stockland (SGP.AU), Tabcorp Holdings (TAH.AU), Whitehaven Coal (WHC.AU), ARN Media (A1N.AU), Eagers Automotive (APE.AU), Bega Cheese (BGA.AU), Capitol Health (CAJ.AU), Cleanaway Waste Management (CWY.AU), Earlypay (EPY.AU), humm group (HUM.AU), Horizon Oil (HZN.AU), Insignia Financial (IFL.AU), MA Financial Group (MAF.AU), Medibank Private (MPL.AU), Peet (PPC.AU), Perpetual (PPT.AU), Pacific Smiles Group (PSQ.AU), Platinum Asset Management (PTM.AU), Qantm Intellectual Property (QIP.AU), Qube Holdings (QUB.AU), Redox Ltd. (RDX.AU), Rural Funds Group (RFF.AU), Regal Partners (RPL.AU), Regis Resources (RRL.AU), Star Entertainment Group (SGR.AU), Smartgroup (SIQ.AU), Telix Pharmaceuticals (TLX.AU), TPG Telecom (TPG.AU), The Reject Shop (TRS.AU), Universal Store Holdings (UNI.AU)

    • New Zealand:

      • Economic:

        • 10:45 NZST: Retail Sales Q/Q; consensus

      • Earnings:

        • Auckland International Airport (AIA.NZ), Genesis Energy (GNE.NZ), Air New Zealand (AIR.NZ), Heartland Group Holdings (HGH.NZ), SKY Network Television (SKT.NZ)

    • Malaysia:

      • Earnings:

        • Kuala Lumpur Kepong (2445.MK)

  • Market Data:

    • Gold (Dec 23): +$0.80 or +0.04% to $1926.80

    • WTI Crude (Sep 23): $0.00 or 0.00% to $80.35

    • $-¥: (0.44) or (0.30%) to 145.7830

    • $-KRW: +1.79 or +0.13% to 1342.1600

    • A$-$: +0.00 or +0.19% to 0.6425

    • $-INR: (0.04) or (0.04%) to 83.0950

    • $-CNY: +0.05 or +0.69% to 7.2925

  • 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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