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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei (1.50%), ASX 200 (1.20%), KOSPI (1.05%)

Aug 25 ,2023

  • Editor's note: This comment missed the usual pre-open window. We apologize for the delay.

  • Synopsis:

    • Asia equities opened lower Friday in line with futures indications. Japan and South Korea sharply lower with Australia also comparably softer. US contracts stabilized after sharp declines in the cash session that more than retraced the prior session's strength. All major S&P 500 sectors logged losses. Treasuries were weaker overnight with some curve flattening following a big rally in prior session. Major currencies little changed with dollar slightly firmer and yen softer. Crude oil and gold futures moderately lower, while Bitcoin recouping some overnight losses.

    • Early US momentum was positive on the back of blowout Nvidia (~NVDA~) earnings that took its share price to a record high intraday before closing with a marginal gain. However, results were unable to provide a sustainable tailwind to some of the other high-profile beneficiaries of the AI hype. Market attention now squarely on Powell's speech in Jackson Hole, though previews have already flagged expectations for some hawkish leanings, in line with the Fed's tightening bias.

    • On regional news, China's ban on Japanese aquatic products in response to the release of treated water from the Fukushima plant attracted intense media attention Thursday afternoon. Analysts described the move as a political gesture given its limited economic impact. Elsewhere, Beijing maintained supportive policy rhetoric, repeating calls for small business tax relief and endorsement of offshore equity listings in Hong Kong. Macro calendar remains light. Tokyo CPI inflation eased, though attention has waned after BOJ delivered its long-speculated YCC tweak and analysts do not expect another move for the rest of the year.

  • Pre-open Company News:

    • 2162.HK -- Keymed Biosciences reports H1 adjusted net income CNY63.8M, +148% vs year-ago CNY25.7M

    • 2342.HK -- Comba Telecom Systems Holdings reports H1 net income attributable HK$112.2M, +24% vs year-ago HK$90.4M

    • 688063.CH -- Pylon Technologies launches CNY80.0-120.0M buyback programme at up-to-CNY248.34/share

    • 600862.CH -- Avic Aviation High-Technology reports H1 net income attributable CNY551.4M vs year-ago CNY475.8M

    • 392.HK -- Beijing Enterprises Holdings subsidiary obtains CNY2B term loan facility for a term of up to 3 years

    • 300748.CH -- JL MAG Rare-Earth reports H1 CAS net income attributable CNY332.6M, (28%) vs year-ago CNY463.8M

    • 688012.CH -- Advanced Micro Fabrication Equipment Inc China reports H1 net income attributable CNY1.00B vs guidance CNY980.0M-1.03B

    • TIDLOR.TB -- Ngern Tid Lor Public Co. initiated buy at Finansia Syrus

    • MTC.TB -- Muangthai Capital Public upgraded to outperform from underperform at Macquarie

    • 300274.CH -- Sungrow Power Supply reports H1 net income attributable CNY4.35B vs year-ago CNY900.4M

    • 1093.HK -- CSPC Pharmaceutical's sacubitril valsartan sodium tablets pass NMPA's consistency evaluation for generic drugs

    • 3690.HK -- Meituan reports Q2 adjusted net income CNY7.66B vs FactSet CNY4.48B

    • 1833.HK -- Ping An Healthcare & Technology reports H1 net income attributable (CNY244.6M) vs StreetAccount (CNY201.6M)

    • Taiwan reports July loans & investments of all financial institutions growth 0.69% m/m, 5.59% y/y

    • 600803.CH -- ENN Natural Gas reports H1 net income attributable CNY220.4M, +30% vs year-ago CNY169.7M

  • On Deck:

    • China:

      • Earnings:

        • Everbright Securities (601788.CH)

    • Hong Kong:

      • Earnings:

        • TCL Electronics Holdings (1070.HK), China Shenhua Energy (1088.HK), Sino Biopharmaceutical (1177.HK), Yuexiu Property (123.HK), 3D Medicines (1244.HK), Tsingtao Brewery (168.HK), Jiangsu Expressway (177.HK), C&D International Investment Group (1908.HK), Jiangxi Copper (358.HK), Zhejiang Leapmotor Technology (9863.HK), Shanghai Henlius Biotech (2696.HK), Sinopharm Group (1099.HK), China Resources Gas Group (1193.HK), China Everbright (165.HK), S-Enjoy Service Group (1755.HK), East Buy Holding (1797.HK), Dongyue Group (189.HK), Lepu Biopharma (2157.HK), Yonghe Medical Group (2279.HK), Zijin Mining Group (2899.HK), China National Building Material (3323.HK), Zhongyu Energy Holdings (3633.HK), Xiabuxiabu Catering Management (China) Holdings (520.HK), Tongdao Liepin Group (6100.HK), Global New Material International Holdings (6616.HK), China Youran Dairy Group (9858.HK), Helens International Holdings (9869.HK), Dingdang Health Technology Group (9886.HK), Keep Inc. (KEEP.HK)

    • Japan:

      • Economic:

        • 08:30 JST: CPI Tokyo Y/Y; consensus

    • Australia:

      • Earnings:

        • Bravura Solutions (BVS.AU), Aussie Broadband (ABB.AU), Ardent Leisure Group (ALG.AU), Cobram Estate Olives (CBO.AU), Genex Power (GNX.AU), Probiotec (PBP.AU), Splitit Payments (SPT.AU), Weebit Nano (WBT.AU), Australian Vintage (AVG.AU)

    • Malaysia:

      • Economic:

        • 00:00 EST: CPI NSA Y/Y; consensus +2%

    • Singapore:

      • Earnings:

        • Wing Tai Holdings (W05.SP)

  • Market Data:

    • Gold (Dec 23): ($2.90) or (0.15%) to $1944.20

    • WTI Crude (Oct 23): ($0.11) or (0.14%) to $78.94

    • $-¥: +1.10 or +0.76% to 145.9480

    • $-KRW: (1.13) or (0.08%) to 1326.9700

    • A$-$: (0.01) or (1.07%) to 0.6413

    • $-INR: +0.09 or +0.11% to 82.6333

    • $-CNY: (0.00) or (0.02%) to 7.2768

  • 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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