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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.51%, Hang Seng Futures (0.38%), ASX SPI 200 +0.10%, S&P Futures (0.09%)

Sep 11 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Tuesday trade. Nikkei futures pointing to gains on the open, Hang Seng futures slightly weaker and ASX futures little changed. US contracts steady following tech-led gains in Monday trade. Australian and New Zealand bond markets flat in early trade. FX markets unchanged after dollar extended its pullback on major crosses. Muted price action in commodity markets.

    • Positive read-through for Asian tech stocks from overnight developments in US. TSLA's Dojo supercomputer prompted Morgan Stanley upgrade. QCOM signed deal to supply AAPL with 5G chips. Arm IPO seeing strong demand with planned listing reportedly oversubscribed by 10x and banks planning to stop taking orders day earlier than planned. Pricing also expected be at top end of initial range.

    • Volatile start to the week in FX markets with dollar falling back sharply against yen and yuan. Yen support attributed to hawkish spin to BOJ Governor Ueda's remarks on potentially having enough information by year-end to decide whether to exit NIRP. PBOC stepped up warning against speculative activity and Reuters noted central bank is tightening scrutiny on bulk dollar purchases by domestic firms.

    • Ueda's remarks added to upward pressure on global yields that has been attributed to a run of better-than-expected US macro data and surging oil prices. Markets have dialed back 2024 Fed rate cut odds amid dampened disinflation momentum. However, peak Fed narrative still intact with September pause widely expected as policymakers shift to a more balanced stance on rates.

  • Pre-open Company News:

    • 1216.TT -- Uni-President Enterprises reports August revenue NT$57.54B, +18.3% y/y

    • 601699.CH -- Shanxi Lu'An Environmental Energy Development reports August raw coal production 5.03Mt, +1.0% y/y

    • 5703.JP -- Nippon Light Metal Holdings Co. upgraded to buy from neutral at Nomura

    • 601607.CH -- NMPA accepts submission of Shanghai Pharmaceuticals's application for trial of I035 for intestinal inflammation

    • 4502.JP -- Takeda Pharmaceutical reports positive topline results from Phase 2b study for TAK-279 in treatment of active psoriatic arthritis

    • 030200.KS -- KT upgraded to overweight from equal-weight at Morgan Stanley

    • SQNS -- Renesas commences previously announced tender offer for Sequans Communications

    • 533148.IN -- JSW Energy responds to report on PEs advanced talks with company for minority stake in JSW Neo Energy

    • 2881.TT -- Fubon Financial Holding reports August PBT NT$9.67B

    • 388.HK -- Hong Kong Exchanges & Clearing August activity

    • 2412.TT -- Chunghwa Telecom reports August revenue NT$17.64B; StreetAccount notes year-ago NT$17.34B

    • ARDX -- Ardelyx discloses data on treatment satisfaction and efficacy of IBSRELA (tenapanor) for IBS-C at GHAPP 2023

    • NBIX -- Neurocrine Biosciences announces initiation of phase 1 study evaluating effects of NBI-1117570 in healthy adults

    • 1725.HK -- Hong Kong Aerospace Technology Group's unit Aspace completes placing of 49% stake as announced on 11-Jul

    • ^ESGREADS -- StreetAccount ESG Reads

  • On Deck:

    • Japan:

      • Earnings:

        • Kobe Bussan (3038.JP), Mitsui High-tec (6966.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: NAB Business Confidence; consensus

  • Market Data:

    • Gold (Dec 23): ($2.40) or (0.12%) to $1944.80

    • WTI Crude (Oct 23): +$0.03 or +0.03% to $87.32

    • $-¥: (1.16) or (0.79%) to 146.6170

    • $-KRW: (12.68) or (0.95%) to 1323.6500

    • A$-$: +0.01 or +0.80% to 0.6428

    • $-INR: (0.06) or (0.07%) to 82.9603

    • $-CNY: (0.06) or (0.75%) to 7.2880

  • 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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