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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.49%, Hang Seng Futures +0.84%, ASX SPI 200 +0.64%, S&P Futures +0.07%

Sep 28 ,2023

  • Synopsis:

    • Asian markets set for a positive start to Friday trade. Nikkei, Hang Seng and ASX futures all pointing to gains on the open. S&P 500 futures steady afterhours following modest Thursday advance. More weakness in Asian bond markets with Australian curve bear steepening. Dollar index pulled back from 10-month, as yen continues to hover below 150-handle. Crude also saw sharp pullback.

    • Mainland China offline for Golden Week holiday. Focus turns to level economic activity over the holiday with expectations high for domestic travel and spending. Property market will also be scrutinized with developers counting on a meaningful lift in home sales. China September PMIs expected to show pickup in manufacturing and non-manufacturing activity that would add to evidence of economic stabilization.

    • Stocks found some reprieve from stabilization in rates after European inflation prints softened and Fed's Goolsbee offered somewhat dovish outlook. However, no real change in the fundamental backdrop with yields seen remaining on an upward trajectory on higher-for-longer Fed, surging oil (and accompanying inflation risk) and expanding supply. Market continues to price in near 50-50 chance of another Fed rate hike by year end..

  • Pre-open Company News:

    • 1801.HK -- Innovent Biologics to withdraw the current NDA for parsaclisib due to substantial additional investment in completing Phase 3 confirmatory trial

    • 300957.CH -- Yunnan Botanee Bio-Technology Group acquires 48.6% stake in Yuejiang Investment for CNY485.5M cash

    • 576.HK -- Zhejiang Expressway to acquire 15% interest in YongTaiWen, 100% equity of HuangQuNan

    • 002146.CH -- RiseSun Real Estate Development receives consent from holders of over 75% of outstanding 2023, 2024 notes

    • 9995.HK -- RemeGen appoints Tong Shaojing as CFO, effective today

    • 813.HK -- Shimao Group Holdings sells 51% stake in Zhuhai mixed-used project to JV partner China Life for CNY3.91B cash

    • 19.HK -- Swire Pacific wins bids for 40% stakes in two Shanghai land plots; signs equity transfer, JV agreements

    • BHK.SP -- SIIC Environment Holdings CEO Yang Jianwei steps down, effective today

    • 2678.HK -- Texhong International Group extends long stop date of disposal of Vietnam factory from 30-Sep to 31-Oct

    • 1070.HK -- TCL Electronics Holdings CFO Hu Dienchien steps down to focus on the group's operation, effective 1-Oct

    • 6460.JP -- Sega Sammy to implement structural reforms mainly in Consumer area in Europe, incur ¥14.3B of losses from reform for FY

    • 670.HK -- China Eastern Airlines confirms purchase of 100 C919 series aircraft for $9.90B (CNY71.08B), as reported earlier

    • ^ESG -- StreetAccount ESG Headlines (28-Sep)

    • 6878.HK -- Differ Group Auto terminates 1.72B-share placement announced on 15-Sep due to market conditions

    • 531162.IN -- Emami to acquire 26% stake in Axiom Ayurveda; terms undisclosed

  • On Deck:

    • Hong Kong:

      • Earnings:

        • New World Development (17.HK), NWS Holdings (659.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Industrial Production SA M/M (Preliminary); consensus (0.8%)

        • 08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +6.9%

        • 14:00 JST: Housing Starts NSA Y/Y; consensus (8.7%)

    • Australia:

      • Economic:

        • 11:30 AEST: Private Sector Credit M/M; consensus +0.3%

      • Earnings:

        • Anson Resources (ASN.AU), Core Lithium (CXO.AU), Liontown Resources (LTR.AU)

  • Market Data:

    • Gold (Dec 23): +$4.00 or +0.21% to $1882.60

    • WTI Crude (Nov 23): +$0.10 or +0.11% to $91.81

    • $-¥: (0.34) or (0.23%) to 149.2960

    • $-KRW: (7.62) or (0.56%) to 1347.5800

    • A$-$: +0.01 or +1.02% to 0.6427

    • $-INR: (0.86) or (1.03%) to 82.3963

    • $-CNY: (0.01) or (0.14%) to 7.2999

  • 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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