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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.70%, Hang Seng Futures +0.08%, ASX SPI 200 +0.28%, S&P Futures +0.16%

Aug 27 ,2023

  • Synopsis:

    • Asian markets set for a positive start to Monday trade. Nikkei, Hang Seng and ASX futures pointing to gains on the open. S&P 500 futures rising following a mostly positive week on US markets. Australian and New Zealand yields pulling lower, in-line with recent Treasury curve flattening. Dollar nearing 10-month high against yen. Crude continues to push up from last week's lows.

    • China cut stamp duty on stock trades for first time since 2008, coming after regulator last week urged fund managers and banks to boost stock investments. Flurry of measures over recent weeks aimed at shoring up confidence have failed to lift investor sentiment with Hang Seng already down more than 10% month-to-date. Global funds continue to offload Chinese stocks and multiple sell-side firms have made repeated cuts to year-end price targets.

    • Some attention lately to global spillover risks from China's economic slowdown and deepening property market slump, which has prompted downgrade warnings from officials in countries reliant on Chinese trade. Global companies from retail to travel industries have already flagged a hit to earnings from slowing Chinese demand. Commodity-exposed economies also at risk from falling metals prices.

    • In other developments, BOJ Governor Ueda said continuation of ultra-loose policy justified by underlying inflation running below central bank's target. China industrial profits contracted for a seventh straight month as slumping demand weighed on manufacturer profits. US Commerce Secretary Raimondo in Beijing for talks aimed at boosting trade ties and strengthening communication. India imposed more restrictions in rice exports.

  • Pre-open Company News:

    • 168.HK -- Tsingtao Brewery reports H1 net income attributable CNY3.43B vs FactSet CNY3.41B

    • 2601.HK -- China Pacific Insurance (Group) H1 net income attributable CNY18.33B vs year-ago CNY13.30B

    • H15.SP -- Hotel Properties gets provisional permission to redevelop Forum, voco Orchard Singapore, HPL House

    • 3333.HK -- China Evergrande Group reports H1 net income attributable (CNY33.01B) vs year-ago (CNY66.35B)

    • ^TTNASIA -- China regulators announce series of market reforms:

    • 300759.CH -- Pharmaron Beijing reports H1 net income attributable CNY786.1M vs guidance CNY766.9-796.2M

    • Goldman Sachs upgrades China Shenhua Energy A-Shares to buy from neutral; maintains buy on H-Shares

    • 603486.CH -- Ecovacs Robotics downgraded to underperform from buy at CLSA

    • 386.HK -- Sinopec (China Petroleum & Chemical) reports H1 IFRS net income attributable CNY36.12 vs year-ago CNY44.45B

    • Goldman Sachs upgrades CMOC Group A-Shares to buy from neutral; maintains buy on H-Shares

    • JBL -- BYD Electronic (International) enters into agreement to acquire Juno Newco Target Holdco Singapore from Jabil Circuit (Singapore) Pte. Ltd. for CNY15.8B ($2.2B)

    • 688777.CH -- SUPCON Technology downgraded to neutral from outperform at Macquarie

    • 520.HK -- Xiabuxiabu Catering Management (China) Holdings reports H1 net income attributable CNY2.4M vs FactSet CNY59.8M

    • 000977.CH -- Inspur Electronic Information Industry downgraded to equal-weight from overweight at Morgan Stanley

    • 177.HK -- Jiangsu Expressway reports preliminary H1 net income attributable CNY1.83B vs year-ago CNY1.75B

  • On Deck:

    • China:

      • Earnings:

        • Pharmaron Beijing (300759.CH), Jonjee Hi-Tech Industrial & Commercial Holding (600872.CH), Lao Feng Xiang (900905.CH)

    • Hong Kong:

      • Earnings:

        • BYD Co. Ltd. (1211.HK), BYD Electronic (International) (285.HK), Vobile Group (3738.HK), Sinopec (China Petroleum & Chemical) (386.HK), ZhongAn Online P&C Insurance (6060.HK), Flowing Cloud Technology (6610.HK), Chongqing Hongjiu Fruit (6689.HK), China Overseas Land & Investment (688.HK), Jenscare Scientific (9877.HK), Meitu Inc (1357.HK), Kingboard Holdings (148.HK), Yadea Group Holdings (1585.HK), Kingboard Laminates Holdings (1888.HK), BAIC Motor (1958.HK), Fosun Tourism Group (1992.HK), HBM Holdings (2142.HK), Chervon Holdings (2285.HK), Giant Biogene Holding (2367.HK), China Foods (506.HK), Kerry Logistics Network (636.HK), Haitong International Securities Group (665.HK), Truly International Holdings (732.HK), Tianneng Power International (819.HK), China Medical System Holdings (867.HK), Hangzhou SF Intra-city Industrial (9699.HK), Huitongda Network (9878.HK), Kintor Pharmaceutical (9939.HK)

    • Japan:

      • Economic:

        • 14:00 JST: Leading Index (Final); consensus

    • Australia:

      • Economic:

        • 11:30 AEST: Retail Sales SA M/M (Preliminary); consensus +0.2%

      • Earnings:

        • Infomedia (IFM.AU), Neuren Pharmaceuticals (NEU.AU), Austin Engineering (ANG.AU), Australian Unity Office Fund (AOF.AU), Cann Group (CAN.AU), Dalrymple Bay Infrastructure (DBI.AU), DGL Group (DGL.AU), EVT Ltd. (EVT.AU), Helloworld Travel (HLO.AU), Integral Diagnostics (IDX.AU), InvoCare (IVC.AU), Lindsay Australia (LAU.AU), RAM Essential Services Property Fund (REP.AU), Ramelius Resources (RMS.AU), Waypoint REIT (WPR.AU), DDH1 Ltd. (DDH.AU), noumi Ltd. (NOU.AU), ADBRI Limited (ABC.AU), Chrysos (C79.AU), EML Payments (EML.AU), GTN (GTN.AU), Mineral Resources (MIN.AU), MMA Offshore (MRM.AU), Praemium (PPS.AU), Resimac Group (RMC.AU), Superloop (SLC.AU), Symbio Holdings (SYM.AU), Tyro Payments (TYR.AU), Vulcan Steel (VSL.AU)

    • New Zealand:

      • Earnings:

        • Restaurant Brands New Zealand (RBD.NZ), Tourism Holdings (THL.NZ)

    • India:

      • Earnings:

        • Procter & Gamble Hygiene & Health Care (500459.IN)

  • Market Data:

    • Gold (Dec 23): +$3.20 or +0.16% to $1943.10

    • WTI Crude (Oct 23): +$0.38 or +0.48% to $80.21

    • $-¥: +0.10 or +0.07% to 146.5520

    • $-KRW: (2.76) or (0.21%) to 1323.6100

    • A$-$: +0.00 or +0.05% to 0.6411

    • $-INR: +0.02 or +0.03% to 82.5480

    • $-CNY: (0.00) or (0.01%) to 7.2890

  • 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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