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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.13%, Hang Seng Futures +0.02%, ASX SPI 200 (0.45%), S&P Futures (0.08%)

Nov 30 ,2023

  • Synopsis:

    • Asian markets set for mixed start to Friday trade. Nikkei and Hang Seng little changed while ASX making new lows in initial trade. S&P 500 futures marginally lower after US stocks strengthened overnight amid latest signs of disinflation. Australian and New Zealand bonds weaker as yields swing up following recent big move lower. FX markets steady after dollar rebounded against majors. Crude extending losses in aftermath of OPEC+ meeting.

    • Stocks capped off big monthly gain in November, with Treasuries logging best month since 1985. Peak Fed and disinflation narratives widely attributed for the rate rally, triggering cross-asset surge with stocks, corporate bonds, EM markets and cryptos all seeing outsized gains over November. Positioning, seasonality, and China property support headlines among other widely discussed tailwinds.

    • Quieter day on the economic calendar following Thursday's data rush. China Caixin manufacturing PMI forecast to have remained in contraction, coming after official PMI unexpectedly weakened. No change expected in Japan final PMI and unemployment rate while capex growth forecast to have slowed. Fed Chair Powell on tap later tonight, with big question whether he echoes Waller or pushes back against notion of rate cuts.

    • OPEC+ agreed to a cut output by 900K bpd at Thursday's online meeting. Saudi Arabia pledged to continue voluntary 1M production cut through Q1 2024. However, oil reversed amid skepticism over individual country commitment. Bearish case also informed by challenging macro backdrop and weaker energy demand, and more supply from non-OPEC countries.

  • Pre-open Company News:

    • 300015.CH -- Aier Eye Hospital Group to buy controlling stakes in seven hospitals for total of CNY2.99B

    • SGH -- SMART Global Holdings completes sale of majority stake of SMART Brazil

    • 2678.HK -- Texhong International Group completes disposal of Vietnam factory for $78.6M; deal announced on 6-Aug

    • 2914.JP -- CORRECTION: Japan Tobacco and Torii Pharma filed NDA of JTE-061 cream in Japan on 15-Sep-23

    • 1066.MK -- RHB Bank appoints Phuah Shok Cheng as CFO, effective 1-Jan

    • 6078.HK -- Hygeia Healthcare Holdings' subsidiaries acquire 100% stake in Qufu Chengdong Cancer Hospital for CNY46M

    • 884.HK -- CIFI Holdings (Group) CEO LIN Feng resigns, effective immediately.

    • 000876.CH -- New Hope Liuhe proposes private placement to raise up to CNY7.35B

    • 4578.JP -- Otsuka Holdings confirms acquisition of Bonafide Health by its subsidiary; terms undisclosed

    • 600885.CH -- Hongfa Technology releases sustainability report

    • 59.HK -- Skyfame Realty (Holdings) disposes property at HK$145.9M to repay outstanding loan; non-payment was announced on 26-Jun-22

    • 9898.HK -- Weibo Corporation prices offering of $300M convertible senior notes

    • 1668.HK -- China South City Holdings reports H1 net income (HK$621.5M) vs guidance (HK$600M) and year-ago HK$256.0M

    • 6701.JP -- Aviat Networks completes acquisition of NEC's wireless transport business at final purchase price of $65.5M

    • 600104.CH -- SAIC Motor, JSW Group enter strategic Joint Venture to accelerate growth with focus on green mobility

  • On Deck:

    • Japan:

      • Economic:

        • 08:30 JST: Unemployment Rate; consensus 2.6%

      • Earnings:

        • ITO EN (2593.JP)

    • South Korea:

      • Economic:

        • 11:00 KST: Trade Balance NSA; consensus +$1.2B

        • 11:00 KST: Import NSA Y/Y; consensus (9.6%)

        • 11:00 KST: Export NSA Y/Y; consensus +5.7%

    • Indonesia:

      • Economic:

        • 11:00 SAST: CPI NSA Y/Y; consensus +2.7%

  • Market Data:

    • Gold (Feb 24): +$1.70 or +0.08% to $2058.90

    • WTI Crude (Jan 24): ($0.38) or (0.50%) to $75.58

    • $-¥: +0.73 or +0.49% to 147.9680

    • $-KRW: +5.38 or +0.42% to 1296.2300

    • A$-$: (0.00) or (0.12%) to 0.6608

    • $-INR: +0.00 or +0.00% to 83.3502

    • $-CNY: (0.01) or (0.08%) to 7.1279

  • 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:
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