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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.99%, Hang Seng Futures (0.09%), ASX SPI 200 +0.30%, S&P Futures (0.16%)

Oct 04 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Thursday trade. Nikkei futures pointing to early morning rebound while Hang Seng futures little changed. ASX opens with mild gains. Mainland China markets remain closed for Golden Week holiday. S&P 500 futures pulling back afterhours. Asian bond markets rallying with Australian and New Zealand bond yields swinging lower. WTI crude steady after registering its largest drop in 13-months. Dollar fluctuating against majors following Tuesday pullback.

    • Some reprieve for markets following reversal in bond yields. Rebound chalked up to renewed support for disinflation narrative after US macro data came in softer and crude extended its selloff from last week's high to more than 10%. Also suggestions bonds nearing oversold territory given speed and magnitude of latest yield backup. However, bond bears see yields making new highs amid ongoing pressure from higher-for-longer central banks, large budget deficits and expanding supply, upside risks to inflation and rising term premium.

    • Still a lot of uncertainty over whether yen's rebound from 150-per dollar handle was a result of Japan FX intervention. While government officials have not confirmed whether action was taken, early data suggested no intervention and that selling have been a function of technicals. Comes as JGB yields continue to scale new peaks with 5Y rate hitting 10-year high. BOJ conducted unscheduled buying operation on Wednesday in its latest bid to slow ascent in JGB yields.

  • Pre-open Company News:

    • 2445.MK -- Kuala Lumpur Kepong to resume trading on 5-Oct

    • European Commission confirms the launch of an investigation on subsidised electric cars from China

    • 5254.MK -- Kuala Lumpur Kepong terminates proposed acquisition of Boustead Plantations

    • Infosys upgraded to neutral from underweight at JPMorgan (timing uncertain)

    • 541153.IN -- Bandhan Bank reports total loans and advances (incl. on book, off book, TLTRO and PTC) as at 30-Sep INR1.076T vs quarter-ago INR1.032T

    • 543529.IN -- Delhivery initiated reduce at Elara Capital

    • 7298.JP -- Samvardhana Motherson International updates on acquisition of Yachiyo; consideration, timelines unchanged

    • Goldman Sachs initiates Japan Food and Beverage/Tobacco sectors with Asahi Group added to Conviction Buy List

    • 8919.JP -- KATITAS releases 2023 Integrated Report, including corporate governance update

    • Spain (ANFAC) Sept new passenger car registrations , +2.3% y/y to 68,083 units

    • 542649.IN -- Rail Vikas Nigam initiated hold at Antique Stockbroking

    • 300274.CH -- Sungrow Power Supply downgraded to neutral from buy at Nomura

    • 5411.JP -- JFE Holdings downgraded to neutral from overweight at Mito Securities

    • 500495.IN -- Escorts Kubota downgraded to reduce from hold at HSBC

    • 16.HK -- Sun Hung Kai Properties releases 2022-23 sustainability report

  • On Deck:

    • Japan:

      • Earnings:

        • DISCO Corp (6146.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Balance on Goods & Services; consensus +A$9000B

    • Taiwan:

      • Economic:

        • 16:00 TST: CPI NSA Y/Y; consensus +2.6%

    • Thailand:

      • Economic:

        • 07:00 SAST: CPI NSA Y/Y; consensus +0.4%

    • Philippines:

      • Economic:

        • 09:00 SST: CPI Y/Y; consensus +5.2%

  • Market Data:

    • Gold (Dec 23): +$3.40 or +0.19% to $1838.20

    • WTI Crude (Nov 23): +$0.35 or +0.42% to $84.57

    • $-¥: (0.08) or (0.05%) to 148.9610

    • $-KRW: (15.12) or (1.11%) to 1346.9400

    • A$-$: +0.00 or +0.44% to 0.6330

    • $-INR: +0.17 or +0.20% to 83.4498

    • $-CNY: +0.00 or +0.02% to 7.1986

  • 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
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