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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.12%), Hang Seng Futures +0.40%, ASX SPI 200 (0.51%), S&P Futures +0.06%

Jan 03 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Thursday trade. Nikkei futures pointing to declines as Japan markets resume trade following NY break. Hang Seng futures signaling mild gains while ASX opens lower. S&P 500 futures flat after US markets recorded back-to-back declines with tech stocks under pressure. Australian yields pulling lower after Treasuries firmed earlier. Crude steady following overnight rebound as API inventory data shows larger-than-expected draw. Gold coming off lows. Bitcoin fluctuating after erasing prior session's rally.

    • Markets on the back foot this week with tech and growth pockets among largest decliners. Attention increasingly turning to overbought conditions and stretched positioning and sentiment indicators following outsized market gains over recent months. Reversal in equities has corresponded with a backup in bond yields (Treasury 10Y yield back above 4% for first time since mid-December), as markets pared back slightly aggressive rate cut expectations.

    • Mixed takeaways from FOMC minutes, which confirmed officials see rate cuts in 2024 but coupled with warning that restrictive stance could persist and left open possibility of further rate hikes. Fueled thoughts first rate cut may not occur until H2 2024, later than March that markets have been expecting. However, minutes didn't offer many surprises with futures still pricing in 5-6 rate cuts this year.

  • Pre-open Company News:

    • 532977.IN -- Bajaj Auto to consider buyback of shares at its 8-Jan board meeting

    • 603027.CH -- Qianhe Condiment & Food proposes cash dividend CNY0.2/share for first three quarters of 2023

    • 3383.HK -- Agile Group reports December aggregated pre-sale value of CNY3.37B; StreetAccount notes year-ago CNY3.86B

    • 688516.CH -- Wuxi Autowell Technology completes buyback programme at 790K shares totaling CNY69.5M

    • 603019.CH -- Dawning Information Industry completes CNY20.0-30.0M buyback

    • 532921.IN -- Adani Ports & Special Economic Zone re-designates CEO Karan Adani as MD; appoints Ashwani Gupta as new CEO, effective 4-Jan

    • 000961.CH -- Jiangsu Zhongnan Construction Group reports December contracted sales CNY1.83B, sales area 140K sq m

    • 500411.IN -- MRF subscribes to 35.9M shares of Thermax's unit First Energy 8

    • Jefferies upgrades 500096.IN; downgrades 500800.IN, 500825.IN

    • LEGN -- Legend Biotech announces closing of license transaction with Novartis Pharma for certain CAR-T therapies targeting DLL3

    • 1908.HK -- C&D International Investment Group reports FY23 accumulated contracted sales CNY137.97B, +13.5% y/y

    • 1244.HK -- 3D Medicines subsidiary enters into CNY60.0M short-term loan agreement

    • 688777.CH -- SUPCON Technology guides FY net income attributable CNY1-1.15B vs FactSet CNY1.07B [18 est, CNY966.0-1.18B]

    • UBS upgrades 500209.IN; downgrades 507685.IN

    • AMRSQ -- Dr. Reddy's Laboratories acquires MenoLabs from Amyris; terms undisclosed

  • On Deck:

    • China

      • Economic:

        • 9:45 CST: Caixin Services PMI

    • Japan

      • Economic:

        • 9:30 JST: Final Manufacturing PMI

  • Market Data:

    • Gold (Feb 24): +$6.90 or +0.34% to $2049.70

    • WTI Crude (Feb 24): +$0.32 or +0.44% to $73.02

    • $-¥: +1.09 or +0.77% to 143.0840

    • $-KRW: (1.87) or (0.14%) to 1309.2100

    • A$-$: (0.00) or (0.43%) to 0.6733

    • $-INR: +0.04 or +0.05% to 83.2942

    • $-CNY: +0.01 or +0.12% to 7.1525

  • 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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