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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.18%), Hang Seng Futures +0.30%, ASX SPI 200 (0.29%), S&P Futures (0.01%)

Sep 12 ,2023

  • Synopsis:

    • Asian markets set for mixed start to Wednesday trade. Nikkei and ASX futures pointing to mild losses on the open while Hang Seng futures marginally higher. S&P 500 futures flat following tech-led retreat overnight. Australian bond yields bear flattening, tracking similar move in Treasures. Dollar steady on major crosses as yen continues to pull back from highs in the wake of BOJ Governor Ueda's recent remarks. Supply concerns led crude back toward 10-month high.

    • Negative leads from US tech weakness after AAPL's iPhone 15 launch received negatively by market (cautious takes highlighted macro headwinds and concerns premium pricing strategy may be running out of room). Also more discussion about competitive pressures from Huawei's new smartphone built using 7nm processor. More analysts predicting iPhone likely to experience market share loss in China.

    • Markets awaiting US August CPI later tonight. Previews looking for energy-driven rise in headline inflation though no change expected for core inflation. Services components will receive outsized attention with particular focus on rents and airfares. Markets see only slim chance of further tightening by year-end, though 2024 rate cut odds have wound back a little as resilient macro data reinforces Fed's higher-for-longer mantra.

    • Bout of optimism that followed latest Chinese policies to bolster housing market is moderating with Hang Seng Properties index down 4% week-to-date. Mortgage relaxation measures coming under scrutiny amid thoughts they won't be enough to revive housing demand. Real estate developers have seen some reprieve after winning creditor approval to extend bond repayments. However, investors in latest BofA fund manager survey view China's real estate issues the top risk for global credit markets.

  • Pre-open Company News:

    • 541154.IN -- Hindustan Aeronautics gets approval to extend term of chairman Shri C B Ananthakrishnan

    • 1766.HK -- CRRC Corp. president Lou Qiliang resigns due to work adjustments, effective today

    • 600729.CH -- Chongqing Department Store Co. initiated overweight at Guosen Securities (timing uncertain)

    • TSVT -- 2seventy bio and JW Therapeutics announce intent to expand strategic partnership to accelerate R&D of T cell-based immunotherapies and autoimmune therapies

    • 7013.JP -- CORRECTION: IHI expects results to be affected by RTX's inspections of PW1100G-JM engines

    • 3613.HK -- Beijing Tong Ren Tang Chinese Medicine COO Lin Man resigns, effective today

    • 1513.HK -- Livzon Pharmaceutical Group's marketing application for aripiprazole microspheres for injection accepted by NMPA

    • 600803.CH -- ENN Natural Gas to sell Xinneng Mining Industry to Guangdong Hongqing Technology for CNY6.67B

    • 500400.IN -- Tata Power Co. subsidiary Tata Power Solar Systems signs MOU with SIDBI

    • 600745.CH -- Wingtech Technology completes acquisition of Wentianxia Real Estate from controlling shareholder

    • 2038.HK -- FIH Mobile to dispose of indirect subsidiary FIH (Tian Jin) Precision Industry to Tianjin Haofa Storage and Transportation for CNY95.4M ($13.1M)

    • 512.HK -- Grand Pharmaceutical Group receives NMPA registration certification for carglumic acid dispersible tablets

    • 13.HK -- Hutchmed presents initial data from phase IIIb study of 1L Savolitinib in patients with locally advanced or metastatic NSCLC harboring MET exon 14 mutation

    • 2881.TT -- Fubon Financial Holding upgraded to buy from hold at Masterlink Securities

    • O5RU.SP -- AIMS APAC REIT completes sale of 541 Yishun Industrial Park A in Singapore

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Foreign Direct Investment Y/Y; consensus

    • Japan:

      • Economic:

        • 08:50 JST: Domestic CGPI NSA Y/Y; consensus

    • Australia:

      • Earnings:

        • Myer Holdings (MYR.AU)

  • Market Data:

    • Gold (Dec 23): +$0.30 or +0.02% to $1935.40

    • WTI Crude (Oct 23): ($0.01) or (0.01%) to $88.83

    • $-¥: +0.55 or +0.37% to 147.1330

    • $-KRW: (0.89) or (0.07%) to 1324.6500

    • A$-$: (0.00) or (0.45%) to 0.6425

    • $-INR: (0.84) or (1.01%) to 82.1319

    • $-CNY: +0.00 or +0.02% to 7.2909

  • 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:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
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