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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.41%), Hang Seng Futures +0.19%, ASX SPI 200 (0.30%), S&P Futures (0.08%)

Sep 20 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Thursday trade. Nikkei and ASX futures turned negative while Hang Seng futures pointing to a flat start. S&P 500 futures marginally lower after US stocks pulled back late Wednesday following Fed meeting. Bond markets under pressure with Aussie and New Zealand curves bear flattening. Dollar rebounded on major crosses, back near 10-month high. Crude and metals nursing losses after erasing earlier gains.

    • Hawkish Fed takeaways reinforced central bank's higher-for-longer message, prompting markets to scale back 2024 rate expectations. FOMC maintained median 2023 projection of one more 2023 rate hike, but market still only pricing in ~37% probability of further tightening. Attention now centers on tonight's BOE meeting after expectations of a 25 bp rate hike were scaled back following soft UK CPI

    • New Zealand Q2 GDP growth topped expectations and Q1 GDP contraction revised upward, implying economy skirted technical recession. Growth underpinned by cyclone recovery spending, services spending, and agricultural production. However, growth drivers expected to fade with recession predicted by end-2023, reflecting challenging global backdrop and cumulative effect of RBNZ rate hikes.

    • China cabinet meeting Wednesday pledged to accelerate measures to consolidate economy recovery. That stance was backed by former PBOC Governor Yi Gang, who called on authorities to appropriately expand efforts to boost demand. PBOC has stepped up liquidity support in recent weeks and on Wednesday noted it had ample policy room. Economists also see scope for better fiscal and monetary coordination, as well as additional support for housing market.

  • Pre-open Company News:

    • 81.HK -- China Overseas Grand Oceans Group acquires 40% stake in a project company for CNY480.1M from Shenzhen Chuangying

    • 9888.HK -- Baidu initiated buy at Great Wall Securities (timing uncertain)

    • 3908.HK -- China International Capital CFO Wong King Fung resigns due to personal reasons

    • IDC.VN -- Idico Corp declares dividend VND2000/share

    • 3402.JP -- Toray Industries upgraded to outperform from neutral at Tokai Tokyo Research Center

    • 836.HK -- China Resources Power Holdings reports August net generation 17.3M MWh, (12.3%) y/y

    • 532321.IN -- FDA approves Zydus Lifesciences's clindamycin phosphate gel USP 1% for acne

    • 002756.CH -- Yongxing Special Materials Technology launches CNY300-500M on-market share buyback at up to CNY80/share

    • 1777.HK -- Fantasia Holdings Group CFO Chen Xinyu retires; effective 25-Sep

    • 3182.MK -- Genting enters gas sale and purchase agreement with PT Pupuk Indonesia's subsidiary PT Pupuk Kaltim

    • 941.HK -- China Mobile reports August mobile customers net adds +474K

    • 532296.IN -- Glenmark Pharmaceuticals releases sustainability report

    • 3808.HK -- Sinotruk Hong Kong injects CNY400M into Weichai Intelligent Technology to increase stake to 72.4%

    • 762.HK -- China Unicom (Hong Kong) reports August operational statistics: "Big Connectivity" subscribers 947.2M vs month-ago 936.5M

    • TTE.FP -- Follow-up: TotalEnergies confirms it will invest in new 1,050 MWac renewable portfolio JV, equally owned with Adani Green Energy Limited

  • Market Data:

    • Gold (Dec 23): ($16.80) or (0.85%) to $1950.30

    • WTI Crude (Oct 23): $0.00 or 0.00% to $90.28

    • $-¥: +0.44 or +0.30% to 148.2980

    • $-KRW: +3.34 or +0.25% to 1332.3400

    • A$-$: (0.00) or (0.19%) to 0.6443

    • $-INR: (0.11) or (0.13%) to 83.1835

    • $-CNY: (0.01) or (0.15%) to 7.2860

  • 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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