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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.42%, Hang Seng Futures +0.56%, ASX SPI 200 +0.14%, S&P Futures (0.15%)

Nov 26 ,2023

  • Synopsis:

    • Asian markets set for a positive start to Monday trade. Japan and Hong Kong futures pointing to mild gains on the open. ASX up slightly in initial trade. S&P 500 futures flat following quiet post-Thanksgiving session Friday. Bonds continue to weaken with Australian yields nudging higher. FX markets steady after dollar index retreated Friday. Crude remains near recent lows leading into OPEC+ meeting. Metals firmer amid dollar weakness.

    • Global markets continue to see tailwind from from easing of financial conditions driven by intertwined disinflation and peak Fed narratives. While this has corresponded with a meaningful downshift in bond yields, curves have become more inverted amid soft- vs hard-landing debate. Central bank messaging continues to emphasize higher-for-longer stance, contrasting with markets pricing in multiple rate cuts in 2024.

    • Flurry of China support headlines attributed for outsized gains in property stocks. State banks reportedly urged to meet reasonable funding needs of developers and accelerate lending. Takeaways have been varied with measures seen encouraging completion of unfinished housing projects but also raising credit risk for banks. Contagion concerns linger with China authorities investigating shadow bank Zhongzhi after it warned of severe insolvency.

  • Pre-open Company News:

    • STEC.TB -- Sino-Thai Engineering & Construction Public upgraded to add from hold at CGS-CIMB

    • 018260.KS -- SAMSUNG SDS CO. upgraded to outperform from underperform at Macquarie

    • 5681.MK -- Petronas Dagangan downgraded to hold from buy at Affin Hwang Investment Bank

    • HSBC upgrades Indian oil marketing companies; 500104.IN, 500547.IN, 530965.IN

    • 600276.CH -- NMPA approves trial of Hengrui Pharmaceuticals's SHR-A2009 in combination with bevacizumab or SHR-8068 injection to treat patients with advanced solid tumors

    • 3182.MK -- Genting upgraded to buy from hold at Affin Hwang Investment Bank

    • China Ministry of Agriculture: weekly wholesale livestock and poultry prices (17-Nov to 23-Nov)

    • HSBC upgrades T82U.SP; downgrades ME8U.SP

    • 6947.MK -- CelcomDigi upgraded to neutral from sell at UBS

    • 6525.JP -- Kokusai Electric initiated buy at Nomura

    • Goldman Sachs upgrades 1476.TT, 551.HK; downgrades 9910.TT

    • 175.HK -- ZEEKR Group reports preliminary 9M revenue CNY35.3B, +91% y/y

    • SMBC Nikko upgrades 4452.JP; downgrades 4912.JP

    • 2390.HK -- StreetAccount Consensus Metrics Preview - Zhihu, Inc. Q3 Earnings

    • UBS upgrades KTB.TB, SCB.TB; downgrades TISCO.TB

  • On Deck:

    • Hong Kong:

      • Earnings:

        • China Gas Holdings (384.HK), Bosideng International Holdings (3998.HK), China Education Group Holdings (839.HK), China Water Affairs Group (855.HK)

    • Australia:

      • Earnings:

        • Collins Foods (CKF.AU)

    • New Zealand:

      • Earnings:

        • Arvida Group (ARV.NZ), Gentrack Group (GTK.NZ)

  • Market Data:

    • Gold (Dec 23): ($1.00) or (0.05%) to $2002.00

    • WTI Crude (Jan 24): +$0.01 or +0.01% to $75.55

    • $-¥: +0.12 or +0.08% to 149.5800

    • $-KRW: (1.95) or (0.15%) to 1304.3300

    • A$-$: (0.00) or (0.05%) to 0.6581

    • $-INR: (0.01) or (0.01%) to 83.3144

    • $-CNY: (0.00) or (0.01%) to 7.1487

  • 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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