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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.85%), Hang Seng Futures (0.24%), ASX SPI 200 (0.39%), S&P Futures (0.01%)

Dec 06 ,2023

  • Synopsis:

    • Asian markets set for a negative start to Thursday trade. Nikkei and Hang futures pointing to losses on the open as ASX registers mild decline in initial trade. US contracts flat afterhours. Australian bonds rallying after Treasury curve flattened further overnight. FX markets little changed after dollar index neared highest level since mid-November. Crude nursing more losses after falling below $70 for first time since early July. Bitcoin steady near Apr-2022 highs.

    • China trade data forecast to show exports shrank at a slower pace last month though some economists predict a modest rebound. Lead indicators have been mixed with manufacturing PMI new export orders stuck in contraction though services PMI new export business better. Import growth forecast to have continue, though at a tepid pace. Data comes amid pickup in China growth concerns with stocks hitting multi-year lows and US corporate commentary this week noting slow recovery.

    • Moody's China ratings outlook change continues to reverberate after agency also cut outlook for eight Chinese banks from stable to negative. Moody's also flagged possible credit rating downgrades at several LGVFs as well as Hong Kong and Macau. PBOC has stepped up defense of yuan following Moody's outlook change, which some analysts say risks fueling foreign outflows and raise funding costs. Also increases pressure on authorities for more forceful policy response to address structural weaknesses.

  • Pre-open Company News:

    • ^ASIAREADS -- StreetAccount Asia Reads

    • 2099.HK -- China Gold International Resources Corp. initiated buy at Citic Securities (timing uncertain)

    • S08.SP -- Singapore Post subsidiary completes acquisition of 2% interest in FMH for ~A$13.3M (SG$11.7M), increasing stake to 100%

    • 600927.CH -- Yongan Futures initiated overweight at Guotai Junan (timing uncertain)

    • 300498.CH -- Wen's Foodstuff Group completes up to CNY1.80B on-market share buyback announced on 4-Dec-22

    • 2858.HK -- Yixin Group provides Q3 business update; total financing CNY17.7B, +30.0% y/y

    • 81.HK -- China Overseas Grand Oceans Group reports November contracted sales CNY2.66B, (18.4%) y/y

    • 2007.HK -- Country Garden reports November contracted sales CNY6.11B; StreetAccount notes year-ago figure was CNY26.01B

    • CPCA issues preliminary November China national passenger vehicle analysis

    • 543396.IN -- One 97 Communications to expand credit distribution business

    • 9868.HK -- XPeng completes issuance of 94.1M class A ordinary shares to Volkswagen affiliate at $15/ADS

    • U96.SP -- SembCorp Industries completes acquisition of 200MW of wind assets from Qinzhou Yuanneng Wind Power, China

    • 1918.HK -- Sunac China Holdings reports November contracted sales value CNY3.50B; StreetAccount notes year-ago CNY8.04B

    • 6128.HK -- Graphex Group signs letter of intent to list Graphex Technologies on NASDAQ via SPAC merger

    • 603019.CH -- Dawning Information Industry launches CNY20.0-30.0M buyback programme at up-to-CNY45/share

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Import Y/Y; consensus +4.2%

        • 08:00 CST: Export Y/Y; consensus 0%

        • 08:00 CST: Trade Balance NSA; consensus +$47B

        • 16:00 CST: FX Reserves; consensus +$3150B

    • Japan:

      • Economic:

        • 08:50 JST: FX Reserves M/M; consensus

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

      • Earnings:

        • Sekisui House (1928.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Trade Balance on Goods; consensus

    • Thailand:

      • Economic:

        • 07:00 SAST: CPI NSA Y/Y; consensus (0.5%)

  • Market Data:

    • Gold (Feb 24): ($4.10) or (0.20%) to $2043.80

    • WTI Crude (Jan 24): +$0.14 or +0.20% to $69.52

    • $-¥: +0.13 or +0.09% to 147.2790

    • $-KRW: +0.26 or +0.02% to 1313.9800

    • A$-$: (0.00) or (0.05%) to 0.6548

    • $-INR: (0.08) or (0.10%) to 83.3324

    • $-CNY: (0.00) or (0.03%) to 7.1446

  • 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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