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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.63%), Hang Seng Futures (0.62%), ASX SPI 200 (0.56%), S&P Futures +0.13%

Sep 17 ,2023

  • Synopsis:

    • Asian markets set for a negative start to Monday trade. Nikkei, Hang Seng and ASX futures pulled lower on Friday as US stocks retreated. Regional volumes on the lighter side with Japan closed for Respect-for-the-Aged Day. S&P 500 futures inching higher. Australian and New Zealand curves bear steepening after Treasury yields backed up further last week. FX markets steady after dollar index notched another weekly gain towards its highest since Nov-2022. Crude holding near 10-month high.

    • Busy week of central bank meetings as markets eye end to global tightening cycle. Fed widely expected to hold though attention is mostly on whether there will be another rate hike and how long rates will remain restrictive. Goldman Sachs predicts Fed will remain on hold in November, echoing other strategists who expect no further tightening. ECB's dovish rate hike last week played into peak rate debate and BOE could deliver its final rate increase this week.

    • Country Garden faces fresh deadlines today, including requirement to pay interest on dollar bond and win creditor approval to extend by three years payment on yuan note. Comes after company won approval to extend payment on its other seven yuan notes, contributing to a rally in its stock price. However, Hang Seng-listed real estate developers pulled back last week as latest property data showed further deterioration in home sales, construction starts and house prices.

    • US and China officials held talks in Malta over weekend, potentially paving way for a Biden-Xi meeting at APEC summit in November. While two sides have resumed high-level talks, technology and trade have been high profile flashpoints in recent weeks. Also thoughts that China's economic slowdown, internal turmoil in Beijing and US 2024 election cycle will limit opportunity for meaningful rapprochement.

  • Pre-open Company News:

    • UBS upgrades Yankuang Energy; downgrades China Shenhua Energy

    • 4004.JP -- Resonac Holdings upgraded to outperform from underperform at CLSA

    • 2328.HK -- PICC Property & Casualty upgraded to buy from hold at HSBC

    • Macquarie initiates SG Property constituents; 9CI.SP, C09.SP, H78.SP, and U14.SP

    • 3769.JP -- GMO Payment Gateway downgraded to outperform from buy at CLSA

    • J&T Express receives CSRC approval for Hong Kong IPO to issue up to 375.5M shares

    • 002410.CH -- Glodon downgraded to neutral from buy at Nomura

    • 9877.HK -- Jenscare Scientific notes TTVR product enrollment in US FDA's Total Product Life Cycle Advisory Program

    • ^TTNASIA -- Central banks headline this week's economic calendar:

    • 6699.HK -- Angelalign Technology downgraded to neutral from buy at UBS

    • Z74.SP -- Kohlberg Kravis Roberts & Co. L.P. fund commits up to SG$1.1B cash for a 20% stake in Singtel's regional data centre business

    • 14.HK -- Hysan Development downgraded to neutral from buy at BofA

  • On Deck:

    • Australia:

      • Earnings:

        • Tuas (TUA.AU)

  • Market Data:

    • Gold (Dec 23): ($1.70) or (0.09%) to $1944.50

    • WTI Crude (Oct 23): +$0.15 or +0.17% to $90.92

    • $-¥: +0.02 or +0.02% to 147.8280

    • $-KRW: (0.99) or (0.07%) to 1328.4200

    • A$-$: 0.00 or 0.00% to 0.6435

    • $-INR: +0.00 or +0.00% to 83.0948

    • $-CNY: (0.00) or (0.01%) to 7.2739

  • 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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