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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.58%), Hang Seng Futures 0.00%, ASX SPI 200 +0.17%, S&P Futures +0.03%

Jan 01 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Tuesday trade with Nikkei futures pointing to declines on the open. ASX flat in initial trade. S&P 500 futures unchanged after index settled less than 1% from all-time high. Australian bonds flat after Treasury curve steepened Friday. Muted price action in FX markets after dollar index capped its largest quarterly drop in a year. Crude edging higher after posting 21% quarterly loss. Gold steady after having its best quarter since mid-2020.

    • Markets resume trade following NY holiday with usual themes in focus. Rate cut expectations, disinflation and soft landing momentum continue to underpin bullish sentiment, though also concerns about stretched positioning and sentiment following outsized gains in stocks and bonds over recent months. Economic calendar gets busier this week with FOMC minutes, PMIs and US nonfarm payrolls among the highlights.

    • China manufacturing activity shrank at fastest pace in six months as new order and new export declines deepened. Non-manufacturing activity firmed, as stronger construction activity offset services sector weakness. Figures underscored China's negative economic momentum into year-end, while also reinforcing calls for more policy support.

    • Busy weekend of geopolitical news. Red Sea tensions ratcheted higher after US Navy sunk three Houthi boats, prompting Maersk to halt shipping for 48 hours and Iran dispatching destroyer to the waters. In his year-end address, China President Xi reiterated warning on Taiwan reunification. However, in latest sign of cooling US-China tensions Xi and Biden sent each other congratulatory messages on 45th anniversary of establishment of diplomatic ties.

    • In other developments, magnitude 7.6 earthquake struck Sea of Japan, triggering tsunami warnings. Tsunami alert since downgraded and no nuclear pants affected. Private data showed China homes sales contracted at a faster pace in December. President Xi vowed to strengthen economic momentum in his year-end address,. Japan business lobby groups called for stronger wage hikes.

  • Pre-open Company News:

    • Macau December GGR +433.3% y/y to MOP18.57B

    • 000651.CH -- Gree Electric Appliances Inc of Zhuhai completes previously announced share repurchase program

    • 2618.TT -- EVA Airways upgraded to outperform from neutral at KGI Securities

    • YY -- Baidu terminates agreement to purchase JOYY's live streaming business in China

    • 1211.HK -- BYD reports December vehicle production volume 308,972 units vs year-ago 235,215 units

    • 9877.HK -- Jenscare Scientific initiated buy at Zhongtai Securities (timing uncertain)

    • Nomura upgrades 500260.IN, 532538.IN, 542216.IN (timing uncertain)

    • 9866.HK -- NIO delivers 18,012 vehicles in December, +13.9% y/y

    • 532538.IN -- UltraTech Cement reports Q3 consolidated sales volume 27.3Mt, +6% y/y

    • 853.HK -- MicroPort CardioFlow Medtech to acquire 51% of MPCardioAdvent for CNY141.3M ($20.0M)

    • 817.HK -- Gross proceeds from CAMC-Jinmao Commercial Property REIT offering total CNY1.07B

    • 5.HK -- CCF completes acquisition of HSBC's French retail banking business; MoU was announced 18-Jun-2021

    • ^TTNASIA -- Japan earthquake leaves nuclear plants unaffected, special tsunami warning downgraded:

    • 2899.HK -- Zijin Mining Group reports 2023 production volumes

    • 600276.CH -- Jiangsu Hengrui Pharmaceuticals receives FDA fast track designation for SHR-A2009 for injection

  • On Deck:

    • China:

      • Economic:

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

    • Indonesia:

      • Economic:

        • 11:00 SAST: CPI NSA Y/Y; consensus +2.7%

  • Market Data:

    • Gold (Feb 24): +$2.60 or +0.13% to $2074.40

    • WTI Crude (Feb 24): +$0.33 or +0.46% to $71.98

    • $-¥: (0.09) or (0.06%) to 140.9410

    • $-KRW: (1.00) or (0.08%) to 1293.5300

    • A$-$: (0.00) or (0.05%) to 0.6811

    • $-INR: (0.00) or (0.00%) to 83.1856

    • $-CNY: (0.00) or (0.01%) to 7.1122

  • 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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