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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.27%), Hang Seng Futures (0.41%), ASX SPI 200 (1.36%), S&P Futures +0.01%

Sep 21 ,2023

  • Synopsis:

    • Asian markets set for a negative start to Friday trade. Nikkei, Hang Seng and ASX futures all pointing to losses on the open. S&P 500 futures flat after index logged its biggest fall since March. Bond markets under pressure with Aussie curve bear steepening. FX markets steady after dollar index pulled back from 10-month high. Commodities little changed after metals extended their post-Fed retreat.

    • BOJ is widely expected to leave policy unchanged today. Attention already shifting to next normalization steps after Governor Ueda's recent interview with Yomiuri that kicked off speculation around NIRP exit. Initial hawkish spin was subsequently downplayed with Ueda's comments seen in context of curbing yen deprecation. Nonetheless, market now sees stronger chance of BOJ scrapping negative rates than further widening of YCC band.

    • Hawkish Fed continues to reverberate. Most of the focus was on larger-than-expected increase in 2024 median rate projection, which reinforced central bank's commitment to its higher-for-longer stance. Resulting bond yield backup heightening concerns around stretched valuations (particularly in growth/tech space). Also adds to market headwinds from surging oil prices (both from inflation and consumer spending standpoint), dollar strength and September seasonality.

  • Pre-open Company News:

    • 966.HK -- China Taiping Insurance considering capital raise equivalent to 10% of enlarged issuance in Taiping Pension Company for CNY1.08B

    • 509930.IN -- Supreme Industries releases sustainability report

    • 507685.IN -- Wipro CFO Jatin Pravinchandra resigns to pursue other professional goals, effective 30-Nov

    • 639.HK -- Shougang Fushan Resources Group completes repurchase, cancellation of 125M shares

    • 601669.CH -- Power Construction Corporation of China reports Jan-Aug new contract value CNY714.37B, +7.5% y/y

    • 002352.CH -- S.F. Holding Co. completes up to CNY2B share buyback announced in Sep 2022

    • VFS -- VinFast Auto reports Q2 net income (VND12.535T) vs year-ago (VND13.652T) - 6-K

    • 601966.CH -- Shandong Linglong Tyre reports August tire sales 6.6M strips, +22.0% y/y

    • 512599.IN -- Adani Enterprises releases sustainability report

    • 1071.HK -- Huadian Power International reports Jan-Aug power generation 154,506 GWh, +4.2% y/y

    • 503100.IN -- The Phoenix Mills acquires 5K shares of Bartraya Mall Development Company for INR50K

    • ^ESGREADS -- StreetAccount ESG Reads

    • 541729.IN -- HDFC Asset Management receives RBI approval to acquire in aggregate up to 9.5% of five banking entities

    • 533098.IN -- NHPC extends term of chairman/MD Rajeev Vishnoi for six months with effect from 01-Sep

    • 600795.CH -- GD Power Development reports unaudited Jan-Aug operating profit +19.96% y/y

  • On Deck:

    • Japan:

      • Economic:

        • 09:30 JST: Markit/JMMA PMI Manufacturing SA (Preliminary); consensus

        • 12:00 JST: BOJ policy decision

    • Malaysia:

      • Economic:

        • 00:00 EST: CPI NSA Y/Y; consensus +2%

  • Market Data:

    • Gold (Dec 23): +$0.60 or +0.03% to $1940.20

    • WTI Crude (Nov 23): +$0.12 or +0.13% to $89.75

    • $-¥: (0.70) or (0.47%) to 147.6480

    • $-KRW: +5.43 or +0.41% to 1338.8900

    • A$-$: (0.00) or (0.55%) to 0.6412

    • $-INR: (0.16) or (0.19%) to 82.9080

    • $-CNY: +0.02 or +0.27% to 7.3065

  • 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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