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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.12%), Hang Seng Futures (2.02%), ASX SPI 200 (0.76%), S&P Futures +0.03%

Oct 12 ,2023

  • Synopsis:

    • Asian markets set for a negative start to Friday trade. Hang Seng futures pointing to steep losses after Nasdaq Golden Dragon index dropped 3%. Nikkei futures also pointing to opening declines as ASX pulls lower in initial trade. S&P 500 futures flat after US markets reversed lower overnight amid rebound in volatility. Australian and New Zealand yields tracking earlier Treasury curve bear steepening. FX markets steady after dollar logged its biggest gain in five weeks. Crude off earlier lows following choppy session in the wake of bearish US inventory data.

    • Yield backup in focus following short-lived bond market rebound. Disappointing Treasury auctions have compounded concerns about supply and influence of rising term premium on long-dated yields. Mixed US CPI showed hotter-than-expected headline print and pickup in services inflation, though core slowed in-line with expectations. Data reinforced Fed's higher-for-longer message and led markets to dial up odds of another rate hike to ~50% from ~30%.

    • China CPI inflation forecast to have ticked higher for a second month after recently turning negative. PPI deflation expected to have moderated further. Would fit with spate of other macro data that have added to signs China's economy is stabilizing. Authorities eyeing further steps to accelerate a recovery following reports this week central government looking at raising deficit target as it eyes boost in infrastructure spending.

  • Pre-open Company News:

    • 688472.CH -- CSI Solar guides 9M net income attributable CNY2.60-3.10B vs year-ago CNY1.26B

    • 601699.CH -- Shanxi Lu'An Environmental Energy Development reports September raw coal production 5.3Mt, +11.8% y/y

    • 541729.IN -- HDFC Asset Management reports Q2 standalone EPS INR20.49 vs year-ago INR17.06

    • PHO.NO -- PhotoCure's partner Asieris Pharmaceuticals presented positive results for Hexvix Phase III clinical trial in China at SIU 2023 Congress

    • 601155.CH -- Seazen Holdings reports September contracted sales CNY5.74B, (31.1%) y/y

    • 272.HK -- Shui On Land reports Q3 contracted sales of CNY3.40B; StreetAccount notes year-ago figure was CNY6.12B

    • 011790.KS -- SKC confirms plan to sell SK pucore for KRW410.30B

    • 1339.HK -- People's Insurance Co. (Group) of China reports Jan-Sep P&C premium income CNY409.57B, +7.5% y/y

    • TQ5.SP -- Frasers Property expects to report significant decrease in FY23 net income attributable vs year-ago

    • 600886.CH -- SDIC Power Holdings reports Q3 domestic gross electricity generated 49.72B kWh, (1.0%) y/y

    • 1513.HK -- Livzon Pharmaceutical Group obtains rights of LS21031 in Greater China markets from Lansson Pharm

    • 600236.CH -- Guangxi Guiguan Electric Power reports 9M power generation 21.86B kWh, (36.0%) y/y

    • 601985.CH -- China National Nuclear Power guides 9M net income attributable CNY9.25-9.45B vs year-ago CNY8.03B

    • 600900.CH -- China Yangtze Power reports Q3 electricity generation 100.12B kWh, +22.8% y/y

    • 2343.HK -- Pacific Basin Shipping update: Q3 average Handysize and Supramax TCE earnings $10,200 and $11,540 net per day

  • On Deck:

    • China:

      • Economic:

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

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: Foreign Direct Investment Y/Y; consensus

        • 08:00 CST: Export Y/Y; consensus (8.3%)

        • 08:00 CST: Trade Balance NSA; consensus +$69.5B

        • 08:00 CST: Import Y/Y; consensus (6%)

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

        • 09:30 CST: PPI NSA Y/Y; consensus (2.3%)

        • 09:30 CST: CPI NSA Y/Y; consensus +0.2%

      • Earnings:

        • SKSHU Paint (603737.CH)

    • Japan:

      • Earnings:

        • Lawson (2651.JP), Money Forward (3994.JP), BayCurrent Consulting (6532.JP), Takashimaya Co. (8233.JP), Ryohin Keikaku (7453.JP)

    • South Korea:

      • Economic:

        • 08:00 KST: Unemployment Rate; consensus 2.7%

    • Singapore:

      • Economic:

        • 08:00 SST: GDP NSA Y/Y (Preliminary); consensus +0.7%

  • Market Data:

    • Gold (Dec 23): +$0.30 or +0.02% to $1883.30

    • WTI Crude (Nov 23): +$0.56 or +0.68% to $83.47

    • $-¥: +0.64 or +0.43% to 149.7860

    • $-KRW: +9.56 or +0.71% to 1348.4400

    • A$-$: (0.01) or (1.56%) to 0.6314

    • $-INR: (0.03) or (0.04%) to 83.2077

    • $-CNY: +0.00 or +0.02% to 7.3016

  • 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".

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