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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.25%, Hang Seng Futures (0.24%), ASX SPI 200 +0.76%, S&P Futures +0.05%

Nov 27 ,2023

  • Synopsis:

    • Asian markets set for a mixed start to Tuesday trade. Nikkei futures higher while Hang Seng futures signaling mild decline on the open. ASX swinging higher in initial trade. S&P 500 futures unchanged following another quiet offshore session. Bond markets rebounding with Australian and New Zealand rates following Treasury yields lower. Yen strengthening against other currencies as dollar index hovers near three-month low. Crude just above overnight lows amid latest OPEC+ headline volatility.

    • PBOC quarterly monetary policy report reaffirmed prudent policy to be precise and powerful and vowed to maintain reasonable liquidity. Banks have been a focus of Chinese authorities' latest attempts to revive economic activity. PBOC pledged to get banks to reduce inflation-adjusted rates while urging them to set lending targets for private sector in bid to encourage hiring and investment.

    • China again facing liquidity tightness with interbank lending rates hitting one-month high on Monday. Surge in government bond issuance has compounded pressures from end-of-month funding needs. Analysts said banks unwilling to lend to peers, triggering rate fluctuations with yield on 1Y NCDs at seven-month high. Having reiterated pledge to maintain reasonable liquidity, PBOC has injected funds via OMOs over consecutive days with scale of operations ramping up.

    • Fairly quiet on the macro front. RBA Governor Bullock participates in Hong Kong panel discussion on inflation, financial stability and employment, continuing a busy period of speeches by her that have leaned hawkish. Australian October retail sales growth forecast to have slowed from September's outsized gain. Extent of discretionary sales will be scrutinized after it outpaced essential spending in September and factored into RBA's rate hike this month.

  • Pre-open Company News:

    • Financial Stability Board publishes the 2023 list of global systemically important banks (G-SIBs)

    • U96.SP -- SembCorp Industries to acquire 428MW of wind assets in China and India for total SG$200M

    • 000661.CH -- Changchun High & New Technology Industries (Group)'s unit GeneScience Pharmaceutical receives NMPA clinical trial approval for recombinant human follicle-stimulating hormone-CTP fusion protein injection

    • 1605.JP -- INPEX Corp releases slide deck in connection with their Investor Day 2023 event

    • 512.HK -- Grand Pharmaceutical Group completes first patient enrolment for phase II clinical trial of STC3141 for treatment of sepsis in China

    • 1918.HK -- Sunac China Holdings to sell 15.6% equity stake and creditors rights of Zhejiang Qilong Industries to Hangzhou Xio for CNY2.5B

    • Weichai Power upgraded to neutral from sell at UBS

    • 384.HK -- China Gas Holdings reports H1 net income attributable HK$1.83B vs year-ago HK$3.26B

    • 6865.HK -- Flat Glass Group downgraded to underperform from buy at CLSA

    • +ZKH -- ZKH Group files amended F-1 for ADS IPO of indeterminate size through Deutsche Bank, China Renaissance, and CICC

    • 839.HK -- China Education Group Holdings reports FY adjusted net income attributable CNY1.91B vs FactSet CNY2.00B [6 est, CNY1.91-2.10B]

    • 1821.HK -- ESR Group disposes six property assets in China to investment fund

    • ^TTNASIA -- PBOC economic assessment improves, policy stance largely unchanged:

    • 1952.HK -- Everest Medicines initiated buy at TF Securities

    • 1066.MK -- Street Takeaways - RHB Bank Q3 Earnings

  • On Deck:

    • Hong Kong:

      • Earnings:

        • Want Want China Holdings (151.HK), China New Higher Education Group (2001.HK), Alibaba Health Information Technology (241.HK), Café de Coral Holdings (341.HK), Arrail Group (6639.HK)

    • Australia:

      • Economic:

        • 11:30 AEST: Retail Sales SA M/M (Preliminary); consensus (0.6%)

      • Earnings:

        • Collins Foods (CKF.AU)

    • New Zealand:

      • Earnings:

        • Argosy Property (ARG.NZ)

    • India:

      • Earnings:

        • Siemens (500550.IN)

  • Market Data:

    • Gold (Dec 23): +$2.10 or +0.10% to $2014.50

    • WTI Crude (Jan 24): +$0.23 or +0.31% to $75.09

    • $-¥: (1.03) or (0.69%) to 148.4340

    • $-KRW: (9.09) or (0.70%) to 1297.1900

    • A$-$: +0.00 or +0.39% to 0.6610

    • $-INR: +0.04 or +0.05% to 83.3644

    • $-CNY: (0.02) or (0.27%) to 7.1304

  • 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
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE