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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.68%, Hang Seng Futures +1.12%, ASX SPI 200 +0.66%, S&P Futures +0.04%

Aug 29 ,2023

  • Synopsis:

    • Asian markets set for a positive start to Wednesday trade. Nikkei, ASX and Hang Seng futures all pointing to gains on the open. S&P 500 futures flat after US indexes logged a third straight day of gains. Australian and New Zealand bonds tracking earlier rally in Treasuries. FX markets steady after dollar saw widespread losses following soft US data. Bitcoin logged biggest daily gain in two-months on court ruling paving way for ETF. Crude extending rebound from last week's lows.

    • Market upside attributed to pick up July JOLTS falling to 28-month low, adding to signs of loosening labor market and expectations of soft landing. Data led to a bull steepening rally in Treasuries as markets pared expectations of another Fed rate hike by year-end. Rate reprieve comes follows recent surge in nominal and real yields that had been flagged as a potential headwind for equities.

    • China's major banks reportedly preparing to lower rates on home loans and deposits, part of efforts to boost lending and consumer spending. Hang Seng Mainland Properties index rallied ~ 6% Tuesday after news broke in mainland media. Authorities have announced a flurry of measures this week aimed at boosting investor confidence. Government officials pledged to quicken fiscal spending and issuance of special bonds. Media commentaries have also talked up prospect of further RRR cuts.

    • US Commerce Secretary Raimondo continues her visit to Beijing, saying American firms see China as un-investible due to issues ranging from recent raids, IP theft and state subsidies. However, she also dismissed idea of decoupling and said US hoped to boost trade. In other geopolitical news, Japan said may take WTO action against China over latter's ban on Japanese seafood imports. Russian President Putin reportedly set to travel to Beijing for BRI forum in October, marking his first overseas visit since ICC arrest warrant issued in March.

  • Pre-open Company News:

    • 1521.HK -- Frontage Holdings downgraded to neutral from buy at Zhongtai International

    • 1199.HK -- COSCO SHIPPING Ports reports H1 net income attributable $150.3M, (15%) vs year-ago $177.7M

    • 002044.CH -- Meinian Onehealth Healthcare Holdings reports H1 net income attributable CNY10.1M vs prior guidance CNY0-30.0M

    • 1093.HK -- CSPC Pharmaceutical Group receives NMPA clinical trial approval for semaglutide injection

    • 603290.CH -- StarPower Semiconductor reports H1 net income attributable CNY429.9M, +24% vs year-ago CNY346.5M

    • 9866.HK -- NIO Inc reports Q2 adjusted EPADS (CNY3.70) vs FactSet (CNY2.96) [5 est, (CNY3.36)-(2.69)]

    • 5225.MK -- IHH Healthcare COO Sim Heng Joo Joe resigns to pursue other career opportunities, effective today

    • 2799.HK -- China Huarong Asset Management reports H1 net income attributable (CNY4.92B) vs guidance (CNY4.60-5.00B)

    • 688363.CH -- Bloomage Biotechnology launches CNY200-300M buyback at not more than CNY130/share, to run for 12 months from 29-Aug

    • 6078.HK -- Hygeia Healthcare Holdings reports H1 non-IFRS adjusted net income CNY346.7M, +15% vs year-ago CNY300.8M

    • 000538.CH -- Yunnan Baiyao Group reports H1 net income attributable CNY2.83B vs guidance CNY2.61-3.01B

    • 1508.HK -- China Reinsurance (Group) reports H1 net income attributable CNY2.01B vs year-ago CNY466.2M

    • 2196.HK -- Fosun Pharma reports H1 net income attributable CNY1.78B vs year-ago CNY1.54B

    • 3990.HK -- Midea Real Estate Holding reports H1 core net income attributable CNY855.7M, (48%) vs year-ago CNY1.66B

    • 2160.HK -- MicroPort CardioFlow Medtech chairman Luo Qiyi resigns, effective today

  • On Deck:

    • China:

      • Earnings:

        • Wen's Foodstuff Group (300498.CH), Bank of Jiangsu (600919.CH), 360 Security Technology (601360.CH), Bank of Chengdu (601838.CH), Yango Group (000671.CH), Shenzhen Dynanonic (300769.CH), Haier Smart Home (600690.CH)

    • Hong Kong:

      • Earnings:

        • China Resources Land (1109.HK), Shanghai Chicmax Cosmetics (2145.HK), BOC Hong Kong (Holdings) (2388.HK), Shanghai Electric Group (2727.HK), China Shineway Pharmaceutical Group (2877.HK), Sipai Health Technology (314.HK), China International Capital (3908.HK), Air China (753.HK), Sunac China Holdings (1918.HK), Jacobio Pharmaceuticals Group (1167.HK), Times China Holdings (1233.HK), China MeiDong Auto Holdings (1268.HK), LifeTech Scientific (1302.HK), China Merchants Port Holdings (144.HK), Kaisa Group Holdings (1638.HK), KWG Group Holdings (1813.HK), Zensun Enterprises (185.HK), Haichang Ocean Park Holdings (2255.HK), YH Entertainment Group (2306.HK), Shenzhou International Group Holdings (2313.HK), China Mengniu Dairy (2319.HK), Shun Tak Holdings (242.HK), Citychamp Watch & Jewellery Group (256.HK), China Travel International Investment Hong Kong (308.HK), C-MER Eye Care Holdings (3309.HK), Greenland Hong Kong Holdings (337.HK), Logan Group (3380.HK), Agile Group Holdings (3383.HK), Shanghai Industrial Holdings (363.HK), China Aoyuan Group (3883.HK), Shenzhen Investment (604.HK), Graphex Group Limited (6128.HK), Fosun International (656.HK), NetDragon Websoft Holdings (777.HK), Digital China Holdings (861.HK), LVGEM (China) Real Estate Investment (95.HK)

    • Japan:

      • Economic:

        • 09:30 JST: Import NSA Y/Y (Final); consensus (13.5%)

        • 09:30 JST: Trade Balance NSA (Final); consensus (¥0.08T)

        • 09:30 JST: Export NSA Y/Y (Final); consensus (0.3%)

    • Australia:

      • Economic:

        • 11:30 AEST: Building Approvals SA M/M; consensus (0.5%)

      • Earnings:

        • Jupiter Mines (JMS.AU), 29Metals (29M.AU), City Chic Collective (CCX.AU), Dicker Data (DDR.AU), FBR (FBR.AU), Kina Securities (KSL.AU), Paragon Care (PGC.AU), Qoria (QOR.AU), Tesserent (TNT.AU), Atlas Arteria (ALX.AU), Mesoblast (MSB.AU), Mayne Pharma Group (MYX.AU), Next Science (NXS.AU), PointsBet Holdings (PBH.AU), AMA Group (AMA.AU), Atturra (ATA.AU), BigTinCan Holdings (BTH.AU), Cash Converters International (CCV.AU), Cromwell Property Group (CMW.AU), Fleetwood (FWD.AU), IGO Limited (IGO.AU)

    • Taiwan:

      • Earnings:

        • China Development Financial Holding (2883.TT)

  • Market Data:

    • Gold (Dec 23): ($1.10) or (0.06%) to $1964.00

    • WTI Crude (Oct 23): +$0.24 or +0.30% to $81.40

    • $-¥: (0.64) or (0.44%) to 145.8960

    • $-KRW: (3.92) or (0.30%) to 1320.2900

    • A$-$: +0.01 or +0.85% to 0.6479

    • $-INR: (0.17) or (0.21%) to 82.5784

    • $-CNY: (0.01) or (0.15%) to 7.2794

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