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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.40%, Hang Seng Futures +0.85%, ASX SPI 200 +0.35%, S&P Futures +0.03%

Aug 28 ,2023

  • Synopsis:

    • Asian markets set for a positive start to Tuesday trade. Nikkei, ASX and Hang Seng futures all pointing to gains on the open. S&P 500 futures steady after US stocks ended higher in quiet Monday trade. Australian yield curve bull flattening, tracking earlier strength in Treasuries. FX markets little changed following lackluster offshore session. Muted price action in commodity markets.

    • Volatile start to the week on Chinese markets after equities erased strong opening rally on Monday. Initial rally attributed to regulatory efforts aimed at shoring up investor confidence, including lower stamp duty on stock trades and restrictions on share sales. At the same time, consensus growth forecasts continue to come down with government's GDP growth target of ~5% considered increasingly in doubt absent aggressive stimulus.

    • Some press discussion this week on ongoing weakness in yen and yuan. Widening US yield premium heaping pressure on the currencies with Goldman Sachs eyeing 30-year low in the yen as BOJ sticks to its dovish stance. Offshore yuan seen weakening to record low by year-end according to economist surveys, weighed down by China economic weakness and capital outflow pressures as foreign demand for Chinese assets wanes.

  • Pre-open Company News:

    • 300782.CH -- Maxscend Microelectronics reports H1 net income attributable CNY366.6M vs guidance CNY338.0-376.0M

    • 6060.HK -- ZhongAn Online P&C Insurance reports H1 net income attributable CNY221.5M vs StreetAccount CNY362.0M

    • 601100.CH -- Jiangsu Hengli Hydraulic reports H1 net income attributable CNY1.28B vs year-ago CNY1.06B

    • 688036.CH -- Shenzhen Transsion Holding reports H1 net income attributable CNY2.10B, +27% vs year-ago CNY1.65B

    • 600521.CH -- Zhejiang Huahai Pharmaceutical receives FDA's ANDA approval for Lisdexamfetamine Dimesylate

    • 600779.CH -- Sichuan Swellfun's Mark Anthony Edwards to continue as acting general manager, effective 1-Sep

    • 3738.HK -- Vobile Group reports H1 adjusted net income HK$58.1M, +16% vs year-ago HK$50.0M

    • 2142.HK -- US FDA clears IND application for HBM Holdings' antibody drug conjugate program HBM9033 to begin clinical trials

    • 636.HK -- Kerry Logistics Network reports H1 net income attributable HK$367.6M vs year-ago HK$2.38B

    • 20.HK -- SenseTime Group reports H1 non-IFRS adjusted net income (CNY2.39B) vs year-ago (CNY2.56B)

    • 600489.CH -- Zhongjin Gold reports H1 net income attributable CNY1.47B vs year-ago CNY1.21B

    • 505790.IN -- Schaeffler India acquires KRSV Innovative Auto Solutions Private Limited for INR1.42B cash

    • 732.HK -- Truly International Holdings reports H1 net income attributable HK$167.6M vs guidance HK$167M

    • 665.HK -- Haitong International Securities Group reports H1 net income attributable (HK$780.9M) vs year-ago (HK$1.68B)

    • 600906.CH -- Caida Securities reports H1 net income attributable CNY408.3M vs guidance range CNY392.0-430.0M

  • On Deck:

    • China:

      • Earnings:

        • Jiangsu Zhongnan Construction Group (000961.CH), Ganfeng Lithium Group (002460.CH), Yutong Bus (600066.CH), Jiangsu King's Luck Brewery Joint-stock (603369.CH)

    • Hong Kong:

      • Earnings:

        • Shandong Weigao Group Medical Polymer (1066.HK), New China Life Insurance (1336.HK), People's Insurance Co. (Group) of China (1339.HK), DPC Dash (1405.HK), China Reinsurance (Group) (1508.HK), SSY Group (2005.HK), Ping An Insurance (Group) Co. of China (2318.HK), Guangshen Railway (525.HK), CanSino Biologics (6185.HK), China Datang Corp. Renewable Power (1798.HK), China Modern Dairy Holdings (1117.HK), Chow Sang Sang Holdings International (116.HK), China Nonferrous Mining (1258.HK), China Cinda Asset Management (1359.HK), Yihai International Holding (1579.HK), Tian Lun Gas Holdings (1600.HK), Viva Biotech Holdings (1873.HK), Jinxin Fertility Group (1951.HK), ZTO Express (2057.HK), JW (Cayman) Therapeutics (2126.HK), Luye Pharma Group (2186.HK), Medlive Technology (2192.HK), Shanghai MicroPort MedBot (Group) (2252.HK), China Everbright Environment Group (257.HK), Guangdong Investment (270.HK), Lonking Holdings (3339.HK), Beijing Enterprises Water Group (371.HK), CALB Group Co. (3931.HK), Sihuan Pharmaceutical Holdings Group (460.HK), AIM Vaccine (6660.HK), Differ Group Auto (6878.HK), Beijing Capital International Airport (694.HK), Times Neighborhood Holdings (9928.HK), Kangji Medical Holdings (9997.HK)

    • Japan:

      • Economic:

        • 08:30 JST: Unemployment Rate; consensus 2.5%

    • Australia:

      • Earnings:

        • noumi Ltd. (NOU.AU), Chrysos (C79.AU), Eureka Group Holdings (EGH.AU), EML Payments (EML.AU), Frontier Digital Ventures (FDV.AU), Johns Lyng Group (JLG.AU), Lynas Rare Earths (LYC.AU), Star Entertainment Group (SGR.AU), Superloop (SLC.AU), Tyro Payments (TYR.AU), Betmakers Technology Group (BET.AU), Brambles (BXB.AU), Clinuvel Pharmaceuticals (CUV.AU), Healius (HLS.AU), Auswide Bank (ABA.AU), Ansarada Group (AND.AU), City Chic Collective (CCX.AU), Flight Centre (FLT.AU), Generation Development Group (GDG.AU), Paragon Care (PGC.AU), Sandfire Resources (SFR.AU), SILK Laser Australia (SLA.AU)

    • Malaysia:

      • Earnings:

        • Axiata Group (6888.MK), IHH Healthcare (5225.MK)

  • Market Data:

    • Gold (Dec 23): +$2.10 or +0.11% to $1948.90

    • WTI Crude (Oct 23): ($0.11) or (0.14%) to $79.99

    • $-¥: (0.00) or (0.00%) to 146.4470

    • $-KRW: (3.22) or (0.24%) to 1323.1500

    • A$-$: +0.00 or +0.30% to 0.6427

    • $-INR: +0.16 or +0.20% to 82.6914

    • $-CNY: (0.00) or (0.00%) to 7.2895

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