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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.25%, Hang Seng Futures +1.04%, ASX SPI 200 +0.46%, S&P Futures (0.07%)

Dec 14 ,2023

  • Synopsis:

    • Asian markets set for positive start to Friday trade. Nikkei and Hang Seng pointing to extension of Thursday's gains. ASX higher in initial trade. S&P 500 futures flat afterhours. Australian and New Zealand yields extending move lower. Yen coming off highs after dollar index sold off for a second day to its lowest since early August. Gold and crude furthering recent rebound.

    • Fed-driven momentum continues with bonds extending rally as futures price in almost 150 bp of rate cuts in 2024. Dovish rate outlook attributed for multi-asset rally encompassing stocks, bonds, high yield debt, commodities and crypto. Extent of run-up also playing into concerns markets have run too far, too fast, leaving stocks in overbought territory. At the same time, seasonality also being mentioned as supportive for risk assets.

    • China activity data expected to reinforce slowdown narrative after November trade, manufacturing, credit and inflation figures missed forecasts. Industrial production, retail sales and fixed asset investment growth projected to have increased in November, though figures likely to be distorted by base year effects. Attention will also be on property data with real estate investment and home sales expected to have contracted further.

    • PBOC expected to make net liquidity injection in today's MLF operation while keeping rate steady (though rate cut expectations have nudged higher lately). Impetus for more liquidity seen coming from ongoing economic weakness, seasonal funding tightness/cash demand and yuan stabilization. Economists also continue see additional RRR cuts in coming year.

  • Pre-open Company News:

    • 3333.HK -- China Evergrande Group's unit Hengda Real Estate to sell entire 30% stake in Shanghai Henggen Real Estate to China Everbright Xinglong Trust for CNY663.2M

    • 2255.HK -- Haichang Ocean Park Holdings signs MoU with Saudi Arabian tourism fund for joint development of a Haichang Ocean Park in Saudi Arabia

    • 5347.MK -- Tenaga Nasional CEO Baharin bin Din to step down, effective 29-Feb

    • 600299.CH -- Bluestar Adisseo initiated buy at Great Wall Securities (timing uncertain)

    • 2445.MK -- Kuala Lumpur Kepong to acquire 92% stake in PT Satu Sembilan Delapan for IDR880.43B (MYR264.1M) in cash

    • 532720.IN -- Mahindra & Mahindra Financial Services to undertake soliciting and procuring insurance business

    • 4631.JP -- DIC releases integrated report 2023

    • GLOB -- Hon Hai Precision Industry sells 45,159 shares in Globant at $207.91/share

    • 600141.CH -- Hubei Xingfa Chemicals Group controlling shareholder Yichang Xingfa Group to buy CNY100-200M of shares on open market in 12 months

    • F9D.SP -- Boustead Singapore receives shareholder support for IPT resolutions arising from Boustead Projects exit offer

    • 600350.CH -- Shandong Hi-speed initiated buy at Cinda Securities (timing uncertain)

    • THG.TB -- Thonburi Healthcare Group Public upgraded to hold from reduce at Finansia Syrus

    • UBS initiates 601577.CH, 601838.CH; assumes 002142.CH, 3618.HK, 600919.CH others

    • 2142.HK -- HBM subsidiary Nona Biosciences enters global license agreement with Pfizer for HBM9033

    • EU sets a provisional deadline of 26-Jan to rule on BMW, Ford, and Honda's venture ChargeScape

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Foreign Direct Investment Y/Y; consensus

        • 10:00 CST: Industrial Output NSA Y/Y; consensus +5.5%

        • 10:00 CST: Retail Sales NSA Y/Y; consensus +12.5%

    • Japan:

      • Economic:

        • 13:30 JST: Retail Sales NSA Y/Y (Final); consensus

      • Earnings:

        • Kobe Bussan (3038.JP)

  • Market Data:

    • Gold (Feb 24): +$8.00 or +0.39% to $2052.90

    • WTI Crude (Jan 24): +$0.07 or +0.10% to $71.65

    • $-¥: (0.72) or (0.50%) to 142.1650

    • $-KRW: (7.68) or (0.59%) to 1287.6600

    • A$-$: +0.00 or +0.55% to 0.6698

    • $-INR: +0.11 or +0.13% to 83.2966

    • $-CNY: (0.06) or (0.90%) to 7.1080

  • 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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