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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.81%), Hang Seng Futures (0.77%), ASX SPI 200 (0.34%), S&P Futures +0.09%

Dec 17 ,2023

  • Synopsis:

    • Asian markets set for negative start to Monday trade. Nikkei and Hang Seng futures pointing to losses on the open. ASX also weaker in initial trade. S&P 500 futures flat after capping off Fed-driven weekly rally. Bond markets stronger with Australian and New Zealand curves bull flattening. Yen a touch lower against other currencies. Crude pushing higher after snapping run of weekly losses. Bitcoin pulling lower.

    • Market expectations of Fed rate cuts next year have surged following dovish December FOMC decision that saw median 2024 dot revised to imply 75 bp of easing. With futures pricing in around six rate cuts in 2024, Chicago Fed's Goolsbee echoed NY Fed's Williams in pushing back against hopes for abrupt pivot. Fits with debate over whether market rally has room to run amid risk of slower-than-expected pivot.

    • Yen remains range-bound after rallying to late July highs against dollar. Ahead of Tuesday's decision, BOJ previews note policymaker discussions to focus on outlook or wages and prospect of sustained 2% inflation. Markets will be attentive to remarks from Governor Ueda at his press conference, as well as any tweaks to policy statement/forward guidance that offer firmer signal of policymaker intentions to exit NIRP after April wage talks.

  • Pre-open Company News:

    • CGS-CIMB downgrades China property sector to neutral from overweight; 1233.HK, 1813.HK, 2007.HK, others

    • 902.HK -- Huaneng Power International initiated outperform at Haitong International

    • 523642.IN -- PI Industries downgraded to reduce from add at IIFL Securities

    • 3993.HK -- Evolution Mining completes acquisition of 80% interest in Northparkes copper-gold mine

    • WWW -- Xtep International Holdings acquires 40% of Gemini Asia Saucony for $61M (CNY421.9M)

    • 010140.KS -- Samsung Heavy Industries Co. to pay $290M in damages to SK Shipping following arbitration tribunal ruling

    • Estimated weekend box office revenues in US, Canada $73.9M, (51.7%) y/y - Box Office Mojo

    • 532725.IN -- Solar Industries India announces an explosion incident which occurred in the factory situated at Chakdoh, Bazargoan, Nagpur

    • 388.HK -- Hong Kong Exchanges & Clearing provides update on legal proceedings involving subsidiaries

    • 066570.KS -- LG Electronics co-CEO Bae Doo-yong resigns, effective immediately

    • 541153.IN -- Bandhan Bank downgraded to add from buy at Axis Capital

    • 20.HK -- SenseTime Group controlling shareholder Tang Xiao'ou passes away

    • 505537.IN -- Zee seeks extension to complete merger with Sony Pictures Networks India

    • TIE.AU -- Zhaojin Capital releases supplementary bidder's statement in relation to offer for Tietto Minerals

    • STO.AU -- Santos notes Barossa Development Drilling and Completions Environment Plan accepted by regulator NOPSEMA

  • On Deck:

    • China:

      • Economic:

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

  • Market Data:

    • Gold (Feb 24): ($4.20) or (0.21%) to $2031.50

    • WTI Crude (Jan 24): +$0.61 or +0.85% to $72.04

    • $-¥: +0.16 or +0.11% to 142.3190

    • $-KRW: (1.00) or (0.08%) to 1299.3000

    • A$-$: +0.00 or +0.09% to 0.6695

    • $-INR: (0.00) or (0.00%) to 83.0417

    • $-CNY: (0.00) or (0.02%) to 7.1160

  • 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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