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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.59%, Hang Seng Futures +1.01%, ASX SPI 200 +0.64%, S&P Futures (0.05%)

Dec 19 ,2023

  • Synopsis:

    • Asian markets set for positive start to Wednesday trade. Nikkei and Hang Seng futures pointing to gains on the open. ASX higher in initial trade. S&P 500 futures flat after US markets extended gains and put index within touching distance of record high. Australian and New Zealand bonds strengthening following Treasury yield pullback. FX markets steady after yen recouped some of its post-BOJ losses. Crude adding to earlier gains amid Red Sea tensions.

    • Markets assessing implications of BOJ's decision to leave forward guidance unchanged on Tuesday. Governor Ueda did not rule in or out any policy changes at upcoming meetings, though acknowledged there won't be much new information ahead of January's meeting. April still seen as most likely month for a NIRP exit with markets pricing in 90% odds of a rate hike, coinciding with updated CPI forecasts and outcome of spring wage talks.

    • China expected to leave 1Y and 5Y loan prime rates unchanged today, coming after PBOC kept MLF rate on hold last week. Central bank has in recent weeks leaned on liquidity injections to address funding pressures brought on by surge in bond issuance and seasonal demand for cash. Some economists still anticipate more RRR cuts in coming months with China's economic activity showing very few signs of bottoming.

  • Pre-open Company News:

    • 293.HK -- Cathay Pacific Airways reports November traffic +148.2% y/y

    • SQNS -- Renesas again extends tender offer for Sequans Communications, to one minute after 23:59 ET 5-Jan

    • 543220.IN -- Court dismisses Max Healthcare Institute's appeal against TPG-backed Touch Healthcare in relation to Care Hospitals

    • 603707.CH -- Nanjing King-friend Biochemical Pharmaceutical Co. terminates proposed issuance of CNY940M convertible bonds due to market conditions

    • 002120.CH -- Yunda Holding reports November courier service revenue CNY4.59B, +7.6% y/y

    • 6878.HK -- Differ Group Auto proposes 1-for-10 reverse stock split; places 138.9-M shares at HK$0.36/share

    • 874.HK -- Guangzhou Baiyunshan Pharmaceutical proposes to list GP Corp on NEEQ, plans for BSE listing in future

    • 6501.JP -- Hitachi's GlobalLogic acquires Mobiveil; terms undisclosed

    • 604.HK -- Shenzhen Investment sells Shenzhen City Agricultural Lease Management to CITIC Securities for CNY1.81B via public tender

    • 2445.MK -- Kuala Lumpur Kepong completes purchase of stakes in Satu Sembilan Delapan, Tekukur Indah; deal was announced on 14-Dec

    • 1548.HK -- Genscript Biotech holder GS Corp completes sale of 8.6M shares; deal announced 13-Dec

    • 1513.HK -- Livzon Pharmaceutical Group launches CNY400-600M share buyback at up to CNY38.0/share to run for 12 months

    • 0166.MK -- Insider Transaction: Inari Amertron Executive Vice Chairman Tan Seng Chuan discloses sale of 300K shares -- Section 219 of CA 2016

    • M1GU.SP -- Sabana Industrial Real Estate Investment Trust notes defence and counterclaim response from Kleio One-Solution

    • 1387.HK -- China Dili to sell 19% Dili Fresh stake back to controlling holder Dai Yongge through put option

  • On Deck:

    • China:

      • Economic:

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

        • 09:30 CST: 1 Year Loan Prime Rate; consensus

    • Japan:

      • Economic:

        • 08:50 JST: Import NSA Y/Y (Preliminary); consensus (9.6%)

        • 08:50 JST: Trade Balance NSA (Preliminary); consensus (¥1T)

        • 08:50 JST: Export NSA Y/Y (Preliminary); consensus +1.5%

    • Malaysia:

      • Earnings:

        • Top Glove Corp. (7113.MK)

  • Market Data:

    • Gold (Feb 24): +$0.40 or +0.02% to $2052.50

    • WTI Crude (Jan 24): $0.00 or 0.00% to $73.44

    • $-¥: +1.15 or +0.81% to 143.9470

    • $-KRW: (2.65) or (0.20%) to 1301.0700

    • A$-$: +0.01 or +0.81% to 0.6759

    • $-INR: (0.06) or (0.07%) to 83.0916

    • $-CNY: (0.03) or (0.44%) to 7.1020

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