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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.11%, Hang Seng Futures (0.51%), ASX SPI 200 +0.28%, S&P Futures (0.04%)

Dec 18 ,2023

  • Synopsis:

    • Asian markets set for mixed start to Tuesday trade. Hang Seng futures lower while Nikkei futures flat. ASX little changed in initial trade. S&P 500 futures little changed after index extended gains overnight. Australian yields reversing higher following earlier Treasury curve steepening. FX markets steady with yen range-bound ahead of BOJ. Muted price action in commodity markets after crude traded toward two-week high on Red Sea disruption worries.

    • BOJ expected to leave policy settings unchanged today, but focus will be on Governor Ueda's press conference, policy statement and any tweaks to forward guidance that foreshadows a NIRP exit. Some previews have argued risk of rate hike as soon as January to coincide with next Outlook Report, reflecting optimism on current trajectory for wage growth. However, consensus remains for policy change in April following outcome of spring wage talks.

    • Some cautious-leaning Fedspeak in recent days questioning market's dovish rate outlook. However, comments haven't budged expectations as market continues to price in over 150 bp of Fed easing next year with first rate cut in March. Strategists aligning with market's trajectory with firms predicting 4-5 rate cuts. However, not all views around deeper cuts positive while deeply inverted yield curves ties into concerns around lingering recession risk.

  • Pre-open Company News:

    • 2772.HK -- Zhongliang Holdings Group's convening hearing for scheme of arrangement scheduled for 9-Jan-24

    • 590.HK -- Luk Fook Holdings (International) extends long stop date for acquisition of 136.2M shares in HKRH to 31-Jan or later

    • X -- Follow-up: Nippon Steel confirms acquisition of U. S. Steel for $55.00/sh cash

    • 1801.HK -- Innovent Biologics granted NMPA NDA priority review designation for taletrectinib

    • 5411.JP -- JFE Holdings releases sustainability report 2023

    • 2257.HK -- Sirnaomics receives safe to proceed notice from FDA for IND application for Phase I clinical trials of RV-1770 against human RSV

    • 533098.IN -- NHPC board to meet on 22-Dec to consider proposal for monetization of assets

    • 532754.IN -- GMR Airports Infrastructure reports November total passenger traffic 9.9M, +15% y/y

    • 659.HK -- NWS Holdings CEO Eric Ma resigns; Brian Cheng, COO Gilbert Ho to become co-CEOs, effective 1-Jan

    • +HWEP -- HW Electro Co. files amended F-1; to offer 3.75M ADSs at assumed IPO price of $4.00 per ADS through Univest Securities

    • X -- Nippon Steel confirms acquisition of U. S. Steel for $55.00/sh cash

    • QRVO -- Qorvo announces agreement to sell its assembly and test facilities in Beijing and Dezhou, China to Luxshare (002475.CH); financial terms not reported

    • 1691.HK -- JS Global Lifestyle upgraded to outperform from underperform at Macquarie

    • 603882.CH -- Guangzhou Kingmed Diagnostics Group launches CNY50.0-100.0M buyback programme at up-to-CNY80/share

    • 500295.IN -- Vedanta declares interim DPS INR11

  • On Deck:

    • China:

      • Economic:

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

    • Japan:

      • Economic:

        • 12:00 JST: BOJ policy statement; consensus (0.1%)

      • Earnings:

        • TSURUHA Holdings (3391.JP), Oracle Corp Japan (4716.JP)

  • Market Data:

    • Gold (Feb 24): ($0.50) or (0.02%) to $2040.00

    • WTI Crude (Jan 24): +$0.01 or +0.01% to $72.48

    • $-¥: +0.59 or +0.41% to 142.7440

    • $-KRW: +2.38 or +0.18% to 1302.6800

    • A$-$: +0.00 or +0.15% to 0.6699

    • $-INR: +0.06 or +0.08% to 83.1060

    • $-CNY: +0.01 or +0.21% to 7.1320

  • 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
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