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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.56%), Hang Seng Futures (0.30%), ASX SPI 200 (0.34%), S&P Futures +0.13%

Sep 26 ,2023

  • Synopsis:

    • Asian markets set for a negative start to Wednesday trade. Nikkei, Hang Seng and ASX futures all pointing to losses on the open. S&P 500 futures up slightly following another downbeat session in US. Bond market volatility ebbing with Australian yields little changed after Treasuries rose 1-2 bp overnight. Dollar index hit fresh 10-month high. Crude steady following earlier rebound from lows, while copper near its lowest in four-months.

    • Australian August CPI expected to show fuel-driven rebound in headline inflation. RBA expected to look through the CPI print though rate hike expectations have firmed in recent weeks. Futures pricing in more than 90% chance of another RBA rate hike by May 2024, a reversal from just a month ago when markets had largely ruled out further tightening. Some economists sticking with calls for a November rate hike with a lot hinging on Q3 CPI in late October.

    • Pressure mounting on Evergrande with Reuters reporting offshore creditors planning to join court petition calling for liquidation if developer does not submit new restructuring plan by October. Company facing heavy scrutiny after delaying meeting with creditors and warning of inability to issue new debt, while its onshore unit missed bond repayment. Stock down 30% since Friday contributing to 6% week-to-date fall in Hang Seng Properties index.

    • In other developments, Alibaba planning Hong Kong IPO for its Cainiao logistics division. Japan PM Kishida's stimulus package stirring more speculation about snap election before year-end. Japan's finance minister issued another verbal warning on yen as currency nears key 150-per dollar level. Thai central bank meets today with views split between rate hike and hold.

  • Pre-open Company News:

    • 2880.HK -- Liaoning Port to buy Yingkou Gangxin, 79.0% stake in Dalian Port Logistics from China Merchants Port Group unit

    • 6923.JP -- Stanley Electric downgraded to neutral from outperform at SMBC Nikko

    • 601669.CH -- Power Construction Corporation of China's controlling shareholder to increase holdings by at most CNY2.4B

    • RATCH.TB -- Ratch Group Public appoints independent director Sutat Patmasiriwat as chairman, effective immediately

    • 600674.CH -- Sichuan Chuantou Energy reports Jan-Aug net income attributable CNY3.25B vs year-ago CNY2.72B

    • 033780.KS -- KT&G Corp completes 3.5M-share buyback for KRW302.64B from 4-Aug through 22-Sep

    • 600438.CH -- Tongwei terminates proposed CNY16.0B private placement as announced on 24-Apr due to market conditions

    • K71U.SP -- Keppel REIT Management CFO Kang Leng Hui to step down to pursue other opportunities, effective 27-Oct

    • 600886.CH -- SDIC Power Holdings reports Jan-Aug domestic gross electricity generated 103.81B kWh, (1.0%) y/y

    • 535755.IN -- Aditya Birla Fashion & Retail provides update on acquisition of TCNS Clothing

    • 603027.CH -- Qianhe Condiment & Food guides 9M net income attributable CNY346.6-384.1M vs year-ago CNY187.4M

    • 1608.HK -- VPower Group International completes 691M-share private placement, issuance of 3.29B shares to China National Technical Import & Export Corp.

    • 688301.CH -- iRay Technology chairman proposes CNY10-20M share buyback to run for six months

    • 1995.HK -- CIFI Ever Sunshine Services Group reports delayed FY22 net income attributable CNY480.1M vs year-ago CNY617.0M

    • 600905.CH -- China Three Gorges Renewables (Group) reports Jan-Aug power generation 36.27B kWh, +14.7% y/y

  • On Deck:

    • Japan:

      • Economic:

        • 14:00 JST: Leading Index (Final); consensus

    • Australia:

      • Economic:

        • 11:30 AEST: August CPI

      • Earnings:

        • Brickworks (BKW.AU), Washington H. Soul Pattinson & Co. (SOL.AU), Tamboran Resources (TBN.AU)

    • New Zealand:

      • Earnings:

        • Warehouse Group (WHS.NZ)

  • Market Data:

    • Gold (Dec 23): ($0.50) or (0.03%) to $1919.30

    • WTI Crude (Nov 23): +$0.17 or +0.19% to $90.56

    • $-¥: +0.15 or +0.10% to 149.0410

    • $-KRW: +13.79 or +1.03% to 1353.3500

    • A$-$: (0.00) or (0.40%) to 0.6390

    • $-INR: +0.12 or +0.14% to 83.3012

    • $-CNY: (0.00) or (0.02%) to 7.3107

  • 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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MAY LOSE VALUE
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