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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.06%, Hang Seng Futures +0.16%, ASX SPI 200 (0.10%), S&P Futures 0.00%

Sep 25 ,2023

  • Synopsis:

    • Asian markets set for mixed start to Tuesday trade. Nikkei, Hang Seng and ASX futures little changed following quiet Monday session in US. S&P 500 futures steady afterhours. Bond market selloff continues with Australian yields seeing double-digit increase. Dollar rallied most in three weeks, scoring its biggest gain vs yen. Choppy price action in commodity markets with crude backing off recent highs.

    • Bond yield backup continues to weigh on risk sentiment after Treasury 10Y yield climbed to highest since 2007. Treasury yields seen making new highs amid ongoing focus on higher-for-longer Fed, resilient labor markets, and upside inflation risks (from surging oil). Rising yields coinciding with ongoing rise in US dollar and contributing to downward pressure on comparatively lower yielding currencies such as yen.

    • China property developers under sustained selling pressure after experiencing worst drop since Dec-2022 on Monday. Risk aversion chalked up to Evergrande and doubts about its restructuring plan after group delayed creditor meeting and conceded it is unable to issue new debt. Evergrande's Hengda unit also announced it defaulted on CNY4B yuan bond. Development driving discussion about potential liquidation of Evergrande and accompany risk of contagion.

  • Pre-open Company News:

    • OXMU.SP -- Prime US REIT appoints Cindy Teo as CFO, effective immediately

    • 002938.CH -- Avary Holding (Shenzhen) terminates proposed up to CNY4B share placement due to market conditions

    • 002841.CH -- Guangzhou Shiyuan Electronic Technology launches CNY100-200M on-market share buyback at up to CNY79.93/share

    • 9866.HK -- NIO Inc closes $1B dual-tranche convertible bond offering

    • 853.HK -- MicroPort Scientific downgraded to equal-weight from overweight at Morgan Stanley

    • 517334.IN -- Samvardhana Motherson International releases business responsibility and sustainability report

    • PAAS -- Pan American Silver completes divestment of MARA and Morococha

    • ALVO -- Alvotech's partner Fuji Pharma receives marketing approval for AVT04 (ustekinumab) in Japan

    • Morgan Stanley downgrades 2273.HK, 2279.HK

    • 543498.IN -- Motherson Sumi Wiring India releases business responsibility and sustainability report

    • BofA upgrades ZGN; downgrades 1913.HK (pre-European open)

    • 603688.CH -- Jiangsu Pacific Quartz proposes interim dividend CNY1.3/share

    • Shinhan Securities initiates 003490.KS; upgrades 011200.KS

    • 4043.JP -- Tokuyama releases Sustainability Data Book 2023

    • +INTJ -- Intelligent Group files amended F-1; to offer 3.75M shares (including 350K for holder) in the range of $4-5 per share through WestPark Capital

  • On Deck:

    • Japan:

      • Earnings:

        • Sugi Holdings (7649.JP)

  • Market Data:

    • Gold (Dec 23): ($1.30) or (0.07%) to $1935.30

    • WTI Crude (Nov 23): +$0.08 or +0.09% to $89.76

    • $-¥: +0.50 or +0.34% to 148.8170

    • $-KRW: +0.72 or +0.05% to 1336.3500

    • A$-$: (0.00) or (0.35%) to 0.6424

    • $-INR: (0.14) or (0.17%) to 82.9563

    • $-CNY: +0.01 or +0.16% to 7.3099

  • 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.
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