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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.39%, Hang Seng Futures +0.40%, ASX SPI 200 +0.09%, S&P Futures (0.02%)

Dec 21 ,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Editor's note: The Asian Market Preview will not be published on 25-Dec.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 positive start to Friday trade. Futures pointing to mild opening gains in Japan and Hong Kong. ASX flat in initial trade. S&P 500 futures steady after US markets rebounded overnight. Aussie and New Zealand yields up slightly following Treasury curve bear steepening. US dollar nursing heavy losses with yen recouping all its post-BOJ decline. Gold on cusp of 2.5 week high, while crude and Bitcoin range bound.

    • Japan core inflation slowed in-line with forecasts to lowest since mid-2022, adding to signs influence of cost-push factors are waning. However, policy implications likely to be limited with BOJ focused on sustained 2% inflation driven by wage growth. Strengthening BOJ conviction on inflation informing some sell-side views of a January NIRP exit, though April considered a likely month for policy change following spring wage talks.

    • Geopolitics a late week focus amid report US Commerce Department initiating review into China legacy chip production and flagging subsequent action. Follows reports Biden administration weighing hiking tariffs on Chinese EVs and other products. Meanwhile, China banned export of rare earths processing technology. However, positive developments elsewhere with US and China resuming top-level military talks for first time since 2022.

  • Pre-open Company News:

    • BLRX.IT -- BioLineRx announces first patient dosed in Phase 1 clinical trial evaluating motixafortide for CD34+ hematopoietic stem cell mobilization for gene therapies in Sickle Cell Disease

    • 4552.JP -- Takeda terminates collaboration with JCR to develop gene therapies using adeno-associated viruses combined with the JCR J-Brain Cargo Technology

    • 670.HK -- China Eastern Airlines acquires 55% stake in Eastern Import & Export from controlling shareholder CEA Holding for CNY429.9M cash

    • 543320.IN -- Zomato releases statement denying report it offered $2B (INR166.51B) for Shiprocket

    • 2268.HK -- WuXi XDC Cayman initiated buy at Goldman Sachs

    • 603707.CH -- NMPA approves drug registration of King-friend Biochemical's micafungin sodium for fungemia, respiratory mycoses, gastrointestinal fungal diseases

    • 2238.HK -- Guangzhou Automobile guides FY23 vehicle production 2.5M, +1.3% y/y

    • ^ASIAREADS -- StreetAccount Asia Reads

    • 9868.HK -- Taobao China completes sale of 25M ADSs in XPeng as announced on 15-Dec

    • 500411.IN -- Thermax reports flooding in Tamil Nadu led to inundation of subsidiary First Energy 4's solar power plant

    • MAXN -- Maxeon Solar Technologies announces expansion of patent dispute against Aiko with filing of proceedings in the Netherlands

    • 1317.HK -- China Maple Leaf Educational Systems releases 2023 sustainability report

    • 2445.MK -- Kuala Lumpur Kepong reports November crop figures

    • 1908.HK -- C&D International Investment Group forms joint venture with Xiamen C&D to develop Putian land

    • 601216.CH -- Junzheng Group receives rugulatory approval to complete sale of 2.9% stake in Huatai Insurance to Chubb

  • On Deck:

    • China:

      • Economic:

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

    • Australia:

      • Economic:

        • 11:30 AEST: Private Sector Credit M/M; consensus

    • Malaysia:

      • Economic:

        • 23:00 EST: CPI NSA Y/Y; consensus +1.7%

  • Market Data:

    • Gold (Feb 24): +$9.10 or +0.44% to $2060.40

    • WTI Crude (Feb 24): ($0.05) or (0.07%) to $73.84

    • $-¥: (1.41) or (0.98%) to 142.1580

    • $-KRW: (10.34) or (0.79%) to 1293.3700

    • A$-$: +0.01 or +0.97% to 0.6796

    • $-INR: +0.00 or +0.00% to 83.2689

    • $-CNY: +0.00 or +0.05% to 7.1384

  • 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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