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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.81%, Hang Seng Futures +0.52%, ASX SPI 200 +0.66%, S&P Futures +0.01%

Oct 09 ,2023

  • Synopsis:

    • Asian markets set for a positive start to Tuesday trade. Nikkei, Hang Seng and ASX futures pointing to gains on the open. S&P 500 futures flat after US stocks shrugged off geopolitical developments to end overnight session higher. Bond rally continues with Australian and New Zealand curves flattening. Dollar extending declines against most other currencies following Monday's initial move higher. Crude unchanged following Monday's 4% rally.

    • Markets remain attentive to developments in Middle East, particularly implications for oil. Israel readying for protracted ground campaign in Gaza to degrade Hamas. Bigger concern is whether Iran becomes entangled, prompting an Israeli or US response that threatens regional crude supply. Crude options skew saw biggest gain since Mar-2022. However, early takeaways noted spillover risks are limited for time being.

    • Elevated geopolitical tensions contributing to a pickup in risk aversion, and providing some respite for bond markets following relentless backup in yields over recent weeks. Treasury futures pointing to drop in yields as cash markets resumes trade following Columbus Day. Bonds also supported by comments from Fed officials arguing tighter financial conditions strengthens case to proceed cautiously on rates.

  • Pre-open Company News:

    • 001979.CH -- China Merchants Shekou Industrial Zone Holdings reports September contracted sales CNY20.24B, (42.2%) y/y

    • 600079.CH -- Humanwell Healthcare (Group) receives FDA's ANDA provisional approval for gabapentin tablets for the treatment of post-herpetic neuralgia

    • 1996.HK -- Redsun Properties Group reports September contracted sales CNY1.99B; StreetAccount notes year-ago CNY3.40B

    • 2005.HK -- NMPA approves SSY Group's Nicorandil to become bulk drug for preparations on market

    • South Korea confirms indefinite waiver on US chip export control for Samsung Electronics, SK Hynix

    • 603659.CH -- Shanghai Putailai New Energy Technology signs strategic partnership agreement with CTAL until 2029

    • 601225.CH -- Shaanxi Coal Industry reports September coal production 13.0Mt vs year-ago 13.4Mt

    • ^ESG -- StreetAccount ESG Headlines (9-Oct)

    • 1238.HK -- Powerlong Real Estate Holdings reports September contracted sales CNY1.95B; StreetAccount notes year-ago figure CNY2.41B

    • 316.HK -- Orient Overseas (International) reports Q3 operation update; total revenue $1.76B, (65.1%) y/y

    • 000733.CH -- China Zhenhua (Group) Science & Technology completes CNY2.52B private placement at CNY79.15/sh

    • 531344.IN -- Container Corp. of India reports Q2 total throughput (TEUs) 1,231K, +7.6% y/y

    • 2186.HK -- Luye Pharma Group submits NDA of LY03010 to FDA for treatment of schizophrenia and schizoaffective disorder

    • 532461.IN -- Punjab National Bank Chief General Manager Shri Mahendra Dohare relieved

    • 600905.CH -- China Three Gorges Renewables (Group) reports Q3 power generation 11.94B kWh, +10.3% y/y

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Loan Growth Y/Y; consensus

        • 08:00 CST: M2 NSA Y/Y; consensus

        • 08:00 CST: New Yuan Loans; consensus

    • Japan:

      • Earnings:

        • Welcia Holdings (3141.JP), J. FRONT RETAILING Co. (3086.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: NAB Business Confidence; consensus

      • Earnings:

        • Bank of Queensland (BOQ.AU)

  • Market Data:

    • Gold (Dec 23): +$10.80 or +0.58% to $1875.10

    • WTI Crude (Nov 23): $0.00 or 0.00% to $86.38

    • $-¥: (0.86) or (0.58%) to 148.3660

    • $-KRW: +1.86 or +0.14% to 1346.2000

    • A$-$: +0.00 or +0.51% to 0.6416

    • $-INR: (0.02) or (0.02%) to 83.0920

    • $-CNY: +0.10 or +1.33% to 7.2909

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