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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.85%, Hang Seng Futures (0.35%), ASX SPI 200 +0.23%, S&P Futures +0.05%

Nov 23 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Friday trade. Nikkei futures pointing to gains on the open as Japan markets resume trade following Thursday holiday. ASX higher in initial trade while Hang Seng futures signaling losses. S&P 500 futures unchanged in offshore session where US markets were closed for Thanksgiving. Asian bond markets extending losses with Aussie curve steepening. Muted price action in FX and commodity markets.

    • China authorities continue efforts to ease pressure on developers amid reports banks will be allowed to issue unsecured loans for working capital. Adds to flurry of policy support announcements over past week that have driven sharp rebound in property stocks. Developments also tying into debate over prospects of additional rate cuts. According to Bloomberg survey, PBOC expected to keep MLF rate steady in December vs prior forecast for a five bp cut. However, some economists clinging to expectations of another RRR cut by year-end.

    • In other developments, Japan core inflation rose by less than forecast, though still well above BOJ's 2% target. New Zealand retail sales much stronger than expected with volume growth driven by discretionary categories. New Zealand center-right government formed after parties struck coalition agreement. China shadow bank Zhongzhi said it is heavily insolvent in letter to investors.

  • Pre-open Company News:

    • 1773.HK -- Tianli International Holdings reports FY adjusted net income CNY365.7M vs guidance CNY360M; year-ago CNY97.1M

    • 603885.CH -- Juneyao Airlines initiated buy at TF Securities (timing uncertain)

    • 600985.CH -- Huaibei Mining Holdings Co. initiated overweight at Great Wall Securities (timing uncertain)

    • 1800.HK -- China Communications Construction, China Urban-Rural, Gansu Qilianshan Cement complete asset reorganization announced on 11-May-22

    • 5681.MK -- Petronas Dagangan reports Q3 EPS 18.6sen vs year-ago 27.8sen

    • 2005.HK -- SSY Group's trelagliptin succinate tablet obtains NMPA approval for bioequivalence and clinical trials for type II diabetes

    • 600276.CH -- NMPA approves trial of Hengrui Pharmaceuticals's HRS-9057 injection to treat fluid retention

    • C09.SP -- City Developments issues Q3 operational update; net gearing ratio (after factoring in fair value on investment properties) stands at 58%

    • 688005.CH -- Ningbo Ronbay New Energy Technology initiated buy at DBS Group

    • Japan October nationwide core CPI +2.9% y/y vs consensus +3.0% and +2.8% in prior month

    • 1929.HK -- Chow Tai Fook Jewellery Group reports H1 net income attributable HK$4.55B, +36% vs year-ago HK$3.34B

    • 500257.IN -- Lupin Ltd receives US FDA approval for ANDA to market generic equivalent of Prolensa Ophthalmic Solution

    • 697.HK -- Shoucheng Holdings partners with Sunshine Asset Management for long-term investment for up to CNY5B

    • 600350.CH -- Shandong Hi-speed acquires Shandong Hi-speed Information from controlling shareholder for CNY2.15B cash

    • ^TTNASIA -- China seen to hold MLF rate steady for rest of 2023:

  • On Deck:

    • Hong Kong:

      • Earnings:

        • Tongdao Liepin Group (6100.HK), Productive Technologies Co. (650.HK)

    • Japan:

      • Economic:

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

    • Malaysia:

      • Economic:

        • 23:00 EST: CPI NSA Y/Y; consensus +2%

  • Market Data:

    • Gold (Dec 23): +$1.60 or +0.08% to $1994.40

    • WTI Crude (Jan 24): ($0.88) or (1.14%) to $76.22

    • $-¥: +0.05 or +0.04% to 149.6080

    • $-KRW: (1.42) or (0.11%) to 1300.2200

    • A$-$: +0.00 or +0.23% to 0.6556

    • $-INR: +0.00 or +0.00% to 83.3440

    • $-CNY: (0.02) or (0.25%) to 7.1381

  • 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
MAY LOSE VALUE
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