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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.29%), Hang Seng Futures +0.17%, ASX SPI 200 (0.48%), S&P Futures (0.02%)

Sep 06 ,2023

  • Synopsis:

    • Asian markets set for a for a mixed start to Thursday trade. Nikkei and ASX futures pointing to declines on the open while Hang Seng futures little changed. S&P 500 futures flat after big tech weighed on US indexes overnight. Australian bond yields tracking overnight bear flattening of Treasury curve. Dollar index hit fresh six-month high, strengthening further against yen and yuan after China and Japan stepped up intervention Wednesday. Crude trading back towards 10-month.

    • China trade data forecast to show exports shrunk at a slower pace in August (though there is wide variation in economist estimates). Imports also projected to have fallen at a shallower rate following July's double-digit decline. Lead indicators mixed lately with new export orders contracting for a sixth straight month in August amid sluggish external demand. However, new orders turned positive for first time in five months.

    • Speculation Chinese policymakers will announce further support for property market fueling big gains among real estate developers. Mainland Properties index up 9% in month-to-date, rising 4% alone following latest press reports discussing idea of removing home purchasing restrictions. However, there remain doubts about sustainability of the rally, which skeptics argue is mostly a function of deeply oversold conditions and speculative buying amid depressed valuations.

  • Pre-open Company News:

    • EC designates six gatekeepers under Digital Markets Act

    • 688428.CH -- InnoCare Pharma initiated buy at Sealand Securities (timing uncertain)

    • 902.HK -- Huaneng Power International sells 49% stake in Sichuan Energy to Huaneng Lancang River Hydropower for CNY4.20B

    • 1233.HK -- Times China reports August contracted sales CNY908M; StreetAccount notes year-ago CNY2.30B

    • 3660.HK -- Qifu Technology. SEC filing: SC 13D/A (Filed by Zhou Hongyi)

    • 3996.HK -- China Energy Engineering vice chair and GM Sun Hongshui steps down due to personal reasons, effective today

    • 9432.JP -- Nippon Telegraph & Telephone's subsidiary NTT DOCOMO makes tender offer to acquire INTAGE Holdings

    • 688235.CH -- BeiGene initiated buy at Sealand Securities (timing uncertain)

    • 500002.IN -- ABB India signs MoU with Tata Steel in developing technologies to reduce carbon footprint of steel production

    • 119.HK -- Poly Property Group reports August contracted sales CNY2.7B; StreetAccount notes year-ago figure was CNY4.7B

    • 3933.HK -- United Laboratories' meropenem for injection passes NMPA consistency evaluation for generic drugs

    • 600276.CH -- NMPA issues breakthrough therapy designation to Jiangsu Hengrui Pharmaceuticals' SHR-A1811

    • 688.HK -- China Overseas Land & Investment reports August contracted property sales CNY18.83B, (16.3%) y/y

    • 754.HK -- Hopson Development Holdings reports August property contracted sales CNY1.03B

    • 600383.CH -- Gemdale Corp. reports August contracted sales CNY12.51B, (41.1%) y/y

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Import Y/Y; consensus (11.9%)

        • 08:00 CST: Export Y/Y; consensus (13.2%)

        • 08:00 CST: Trade Balance NSA; consensus +$68.5B

        • 16:00 CST: FX Reserves; consensus +$3181B

    • Hong Kong:

      • Earnings:

        • Sun Hung Kai Properties (16.HK)

    • Japan:

      • Economic:

        • 08:50 JST: FX Reserves M/M; consensus

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

      • Earnings:

        • Sekisui House (1928.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Balance on Goods & Services; consensus +A$11000B

      • Earnings:

        • AMA Group (AMA.AU)

    • Malaysia:

      • Economic:

        • 03:00 EST: BN Overnight Policy Rate; consensus +3%

  • Market Data:

    • Gold (Dec 23): ($2.50) or (0.13%) to $1941.70

    • WTI Crude (Oct 23): +$0.15 or +0.17% to $87.69

    • $-¥: (0.03) or (0.02%) to 147.6900

    • $-KRW: +3.51 or +0.26% to 1333.4700

    • A$-$: +0.00 or +0.02% to 0.6382

    • $-INR: +0.05 or +0.07% to 83.2574

    • $-CNY: +0.01 or +0.16% to 7.3161

  • 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".

DEPOSITARY RECEIPTS:
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MAY LOSE VALUE
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