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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.40%, Hang Seng Futures +0.94%, ASX SPI 200 +0.06%, S&P Futures +0.02%

Aug 30 ,2023

  • Synopsis:

    • Asian markets set for a positive start to Thursday trade. Nikkei and Hang Seng futures pointing to gains on the open while ASX futures flat. S&P 500 futures flat after US indexes posted a fourth-straight gain. Australian and New Zealand bonds extending recent rally. Yen ticking higher after dollar index pulled back to two-week low. Commodity markets little changed.

    • Bond market rebound cited as a driver of risk appetite this week following recent yield backup that took Treasury 10Y rate to 2007 highs. Weaker US GDP and ADP private payrolls data strengthened soft landing expectations following JOLTS miss a day earlier. Odds of another Fed rate hike by year-end diminished further following the data. Attention turns to US core PCE index later Thursday with consensus forecast for no change to monthly inflation.

    • China manufacturing PMI forecast to have shrunk for a fifth consecutive month, albeit at a slower pace. Attention also on PMI sub-gauges, including extent of declines in new order and new export order indexes. Growth in non-manufacturing activity forecast to have weakened amid deceleration in construction. Sell-side firms have cut China GDP growth forecasts this month with manufacturing, services and trade sectors all experiencing weak demand and government refraining from major stimulus. Country Garden reported H1 loss of ~$7B and warned it may default given "material uncertainties." Said it continues to negotiate with bondholders to extend maturities, requesting longer grace period for repayment of onshore note due Saturday. China property developers seeing a bit of a reprieve this week with mainland properties index up 6%. Comes after regulators moved to ease mortgage rules and urged banks to lower lending rates.

  • Pre-open Company News:

    • 600295.CH -- Inner Mongolia ERDOS Resources reports H1 net income attributable CNY1.69B, (48%) vs year-ago CNY3.24B

    • 002555.CH -- 37 Interactive Entertainment Network Tech Gp guides Q3 net income attributable CNY950.0M-1.05B vs year-ago CNY561.6M

    • 1387.HK -- China Dili Group unable to publish H1 results, further delays publication of FY results

    • 600905.CH -- China Three Gorges Renewables (Group) reports H1 net income attributable CNY4.52B, (10%) vs year-ago CNY5.02B

    • 603868.CH -- Shanghai Flyco Electrical Appliance initiated overweight at Great Wall Securities (timing uncertain)

    • 600030.CH -- CITIC Securities initiated buy at Northeast Securities (timing uncertain)

    • 300347.CH -- Hangzhou Tigermed Consulting initiated buy at Sealand Securities (timing uncertain)

    • 601866.CH -- COSCO SHIPPING Development reports H1 net income attributable HK$1.10B vs guidance CNY1.0-1.2B

    • 600153.CH -- Xiamen CD reports H1 net income attributable CNY1.92B vs year-ago CNY2.73B

    • 2380.HK -- China Power International Development reports July total electricity sold by wholly-owned or controlled power plants 9.5M MWh vs year-ago 10.0M MWh

    • 1918.HK -- Sunac China Holdings reports H1 core net income (CNY9.14B) vs year-ago (CNY11.06B)

    • 000069.CH -- Shenzhen Overseas Chinese Town reports H1 net income attributable (CNY1.31B) vs guidance (CNY1.20-1.70B)

    • 656.HK -- Fosun International reports H1 net income attributable CNY1.36B, (40%) vs restated year-ago CNY2.28B

    • 2007.HK -- Country Garden Holdings reports H1 core net income attributable (CNY45.35B) vs year-ago CNY4.91B

    • 600690.CH -- Haier Smart Home reports H1 net income attributable CNY8.96B vs StreetAccount CNY8.82B

  • On Deck:

    • China:

      • Economic:

        • 09:30 CST: CFLP Non Manufacturing PMI; consensus 51

        • 09:30 CST: CFLP PMI Manufacturing; consensus 49.5

        • 09:30 CST: CFLP Services PMI; consensus

      • Earnings:

        • Sinolink Securities (600109.CH)

    • Hong Kong:

      • Earnings:

        • Sirnaomics (2257.HK), JS Global Lifestyle (1691.HK), China Renaissance Holdings (1911.HK), E-House (China) Enterprise Holdings (2048.HK), E-House (China) Enterprise Holdings (2048.HK), Glory Health Industry (2329.HK), Sany Heavy Equipment International Holdings (631.HK), Golden Solar New Energy Technology Holdings (1121.HK), Renze Harvest International (1282.HK), China Ruyi Holdings (136.HK), Yuzhou Group Holdings (1628.HK), Qingdao Ainnovation Technology Group (2121.HK), XD Inc (2400.HK), Ronshine China Holdings (3301.HK), Legend Holdings (3396.HK), Hansoh Pharmaceutical Group (3692.HK), United Energy Group (467.HK), Joy Spreader Interactive Technology (6988.HK), Central China Real Estate (832.HK), Shimao Services Holdings (873.HK), Theme International Holdings (990.HK), Peijia Medical (9996.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +5.3%

        • 08:50 JST: Industrial Production SA M/M (Preliminary); consensus (2.9%)

        • 14:00 JST: Housing Starts NSA Y/Y; consensus +1.9%

    • South Korea:

      • Economic:

        • 08:00 KST: Industrial Production M/M; consensus

        • 08:00 KST: Industrial Production NSA Y/Y; consensus (5.4%)

    • Australia:

      • Economic:

        • 11:30 AEST: Capital Expenditure Q/Q; consensus

        • 11:30 AEST: Private Sector Credit M/M; consensus +0.3%

      • Earnings:

        • Atlas Arteria (ALX.AU), Mayne Pharma Group (MYX.AU), SomnoMed (SOM.AU), BigTinCan Holdings (BTH.AU), Doctor Care Anywhere Group (DOC.AU), Energy Resources of Australia (ERA.AU), Healthia (HLA.AU), Harvey Norman Holdings (HVN.AU), IODM Ltd (IOD.AU), Nickel Industries (NIC.AU), Panoramic Resources (PAN.AU), Structural Monitoring Systems (SMN.AU)

    • India:

      • Economic:

        • 05:30 IST: GDP NSA Y/Y; consensus +7%

  • Market Data:

    • Gold (Dec 23): ($1.80) or (0.09%) to $1971.20

    • WTI Crude (Oct 23): +$0.02 or +0.02% to $81.65

    • $-¥: +0.14 or +0.10% to 146.0150

    • $-KRW: +2.85 or +0.22% to 1321.4500

    • A$-$: +0.00 or +0.02% to 0.6480

    • $-INR: +0.08 or +0.10% to 82.6997

    • $-CNY: +0.00 or +0.04% to 7.2836

  • 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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