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Depositary Receipt business and services are conducted through The Bank of New York Mellon.

Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.02%, Hang Seng Futures (0.26%), ASX SPI 200 (0.25%), S&P Futures +0.14%

Sep 24 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Monday trade. Nikkei futures flat, while Hang Seng and ASX futures pointing to small declines on the open. S&P 500 futures nudging higher after index suffered its worst week since March. Crude steady after after snapping streak of three consecutive weekly gains. FX markets little changed as dollar index hovers near 10-month high. More yen intervention speculation with traders eyeing possible response if 150-handle breached.

    • Markets begin week on the backfoot following last week's Fed meeting, where an upgraded 2024 dot plot and Chair Powell's comments reinforced central bank's higher-for-longer message. Accompanying rate backup also weighing on risk sentiment as resilient economies, tight labor markets and surging oil prices dampen disinflation momentum and dent soft landing expectations.

    • Hang Seng Properties index nearing its lowest since early 2009. Sector facing refinancing pressures with focus shifting back to Evergrande. On Sunday company said it is unable to issue new debt, threatening its restructuring proposal. Comes after Country Garden bondholders said they had not received dollar bond due a week ago. Beijing's support measures have failed to lift sentiment towards developers, which continue to face liquidity constraints amid ongoing fall in home sales.

    • In other developments, PBOC adviser Liu said limited room for further policy easing, talked up structural reforms instead. China SOE fund planning invest at least CNY100B in emerging industries such as AI and new energy. Overseas, US government shutdown looking increasingly likely with GOP divided before 1-Oct deadline. US autoworker strike continues with analysts warning of hit to US GDP and supply chains.

  • Pre-open Company News:

    • 128940.KS -- Hanmi Pharmaceutical Co. initiated buy at IBK Securities

    • Goldman Sachs initiates COSCO SHIPPING Energy Transportation

    • 9690.HK -- Tuhu Car IPO confirms final offer price set at HK$28.00/sh

    • China Ministry of Agriculture: weekly wholesale livestock and poultry prices (15-Sep to 21-Sep)

    • HMN.SP -- CapitaLand Ascott Trust completes divestment of four properties in regional France for €44.4M (SG$64.7M)

    • 068270.KS -- Celltrion signs KRW423.60B contract with Celltrion Healthcare to supply biosimilar antibody drug

    • 1177.HK -- Sino Biopharmaceutical notes US FDA acceptance of IND for TRD205 (AT2R antagonist)

    • 051910.KS -- LG Chem to build LFP cathode plant in Morocco

    • 3333.HK -- China Evergrande Group unable to issue new debt

  • On Deck:

    • Hong Kong:

      • Earnings:

        • Nine Dragons Paper Holdings (2689.HK)

  • Market Data:

    • Gold (Dec 23): ($0.80) or (0.04%) to $1944.80

    • WTI Crude (Nov 23): +$0.39 or +0.43% to $90.42

    • $-¥: +0.02 or +0.01% to 148.3300

    • $-KRW: (0.96) or (0.07%) to 1334.6600

    • A$-$: (0.00) or (0.07%) to 0.6442

    • $-INR: +0.01 or +0.01% to 83.1087

    • $-CNY: (0.00) or (0.01%) to 7.2975

  • 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
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE