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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.55%), Hang Seng Futures (0.81%), ASX SPI 200 (0.58%), S&P Futures +0.15%

Dec 20 ,2023

Editor's note: The Asian Market Preview will not be published on 25-Dec. It will resume on 26-Dec.

  • Synopsis:

    • Asian markets set for a negative start to Thursday trade. Nikkei and Hang Seng futures pointing to steep losses on the open. ASX lower in initial trade. S&P 500 futures up marginally after index logged its worst drop since late September. Australian and New Zealand bonds rallying, tracking earlier strength in Treasuries. FX markets steady with yen rangebound against dollar. Crude extending pullback, gold little changed and Bitcoin steady near overnight highs.

    • Market pullback follows ongoing rally driven by dovish rate outlook and lower yield backdrop. Overbought conditions an easy excuse, though seasonality still being mentioned as a tailwind leading into Christmas/NY. In Asia, no change to bearish China narrative with property stocks continuing to weigh. Japan stocks flirting with 33-year high though some strategists predicting pullback amid yen strength, weak consumption.

    • Geopolitics in focus with NBC reporting Xi warned Biden China would pursue Taiwan reunification during their recent summit in San Francisco. US Republicans responded to report urging more bipartisan efforts to deter China. Development underscores lingering tensions despite recent signs of thaw, elevating focus on upcoming Taiwan elections with Xi reportedly concerned about candidates running or president.

    • Quiet from a headline perspective as newsflow tapers off ahead of Christmas. Japan government projecting positive real income growth in 2024, driven by tax cuts and higher wages. China state media citing economist calls for LPR cuts in short-term. China real estate developer Aoyuan field for Ch.15 bankruptcy protection in New York. Bank of Indonesia expected to keep rates unchanged today and signal end to tightening bias.

  • Pre-open Company News:

    • 1336.HK -- New China Life Insurance's appointment of Yang Yucheng as chairman became effective on 18-Dec

    • 1250.HK -- Shandong Hi-Speed New Energy Group reports November consolidated power generation 464,543 MWh, +37.0% y/y

    • NAAS -- NaaS Technology establishes strategic partnership with SHNE (1250.HK) to jointly build new energy market

    • 600276.CH -- Jiangsu Hengrui Pharmaceuticals receives NMPA approval for phase Ib/II clinical trial of SHR2554 tablets combined with CHOP/CHOEP or CD20 for treatment of mature lymphocytic tumors

    • RATCH.TB -- Ratch Group Public's Solarist Thungfai signs 25-year power purchase agreement with Electricity Generating Authority of Thailand

    • 6055.HK -- China Tobacco International (HK) guides FY net income attributable to increase by at least +50% y/y

    • 6185.HK -- CanSino Biologics begins phase I trial of absorbed tetanus vaccine and enrolls first patient

    • 2019.HK -- Dexin China Holdings reports November contracted sales CNY630M; StreetAccount notes year-ago CNY3.05B

    • 601778.CH -- Shandong Hi-Speed New Energy Group enters agreement to acquire 100MW wind power project from Jinko Power for CNY730M

    • RDHL -- RedHill and U.S. Army announce opaganib and RHB-107 combinations with remdesivir show distinct synergistic effect against Ebola

    • 7186.JP -- Concordia Financial Group upgraded to outperform from neutral at Daiwa

    • 543904.IN -- Mankind Pharma holders Beige and Link Investment Trust discloses sale of 1.8M-shares

    • IVA.FP -- Inventiva announces randomization of first patient in NATiV3 Phase III clinical trial in China; lanifibranor granted Breakthrough Therapy Designation in NASH by China's NMPA

    • ^ESG -- StreetAccount ESG Headlines (20-Dec)

    • BT.A.LN -- BT Group reportedly has not completed work to replace Huawei equipment, faces fine of £100,000/day beginning 2024 - Bloomberg

  • On Deck:

    • China:

      • Economic:

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

  • Market Data:

    • Gold (Feb 24): ($3.70) or (0.18%) to $2044.00

    • WTI Crude (Feb 24): ($0.67) or (0.90%) to $73.55

    • $-¥: (0.32) or (0.22%) to 143.5190

    • $-KRW: +0.57 or +0.04% to 1301.3800

    • A$-$: (0.00) or (0.44%) to 0.6735

    • $-INR: +0.11 or +0.14% to 83.2672

    • $-CNY: +0.03 or +0.44% to 7.1341

  • 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:
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