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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.15%, Hang Seng Futures (0.46%), ASX SPI 200 +0.17%, S&P Futures +0.13%

Jan 04 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Friday trade. Nikkei futures pointing to mild gains on the open as ASX edges higher in initial trade. Hang Seng futures signaling losses. US contracts up slightly after Nasdaq fell for fifth straight session. Australian and New Zealand bonds under pressure after Treasury curve bear steepened overnight. Dollar rebound continues, strongest against yen, yuan and commodity proxies. Crude pulled back from earlier highs while copper lifted from lows. Bitcoin recouped most of Wednesday's sell-off amid ETF approval speculation.

    • US nonfarm payrolls forecast to show moderation in headline employment that takes three-month average to lowest since 2020, an uptick in jobless rate and fall in average hourly earnings growth to lowest sine May 2021. Result would be consistent with a cooling labor market that supports expectations of Fed rate cuts in H1. Markets have pared expectations of a March rate cut following December FOMC minutes, though still pricing in 5-6 of easing in 2024.

    • Yen tracking for its worst weekly drop against dollar since 2022. Some though yen's retreat a function of overbought conditions following post-Fed slump in dollar. Japan earthquake prompted more economists to delay BOJ rate hike calls to April. December FOMC minutes also led to slight drop in Fed rate cut expectations. Bloomberg noted options data suggests traders least bullish on yen since August.

  • Pre-open Company News:

    • 6068.HK -- Wisdom Education International terminated proposed disposal of shares in mutual fund due to commercial reason

    • 2007.HK -- Country Garden Holdings reports December contracted sales CNY6.91B; StreetAccount notes year-ago figure was CNY22.03B

    • 000776.CH -- GF Securities completes acquisition of 366.0M shares in Value Partners Group

    • 3301.HK -- Ronshine China Holdings reports December contracted sales CNY1.11B; StreetAccount notes year-ago CNY10.25B

    • 2126.HK -- NMPA accepts JW (Cayman) Therapeutics's sBLA for Carteyva for treatment of r/r MCL

    • ALIM -- Alimera completes recruitment for the Synchronicity Study

    • 3993.HK -- CMOC Group reports FY production

    • 500300.IN -- Grasim Industries approves 6-for-179 rights share issue priced at INR1812/sh; record 10-Jan

    • UBS upgrades Weichai Power A&H

    • Morgan Stanley upgrades 1997.HK, 83.HK; downgrades H78.SP

    • +AS -- Follow-up: Amer Sports files US IPO through Goldman Sachs, BofA, J.P. Morgan, Morgan Stanley, Citigroup, and UBS - F-1

    • 533519.IN -- L&T Finance Holdings provisional business update: Q3 retail disbursements INR145.00B, +25% y/y

    • CCCC -- C4 Therapeutics announces closing of $25M equity investment by Betta Pharmaceuticals

    • UBS upgrades 2328.HK, FUTU

    • 3692.HK -- Hansoh Pharmaceutical Group downgraded to overweight from buy at Zhongtai International

  • On Deck:

    • Taiwan:

      • Economic:

        • 16:00 TST: CPI NSA Y/Y; consensus +2.6%

    • Thailand:

      • Economic:

        • 07:00 SAST: CPI NSA Y/Y; consensus (0.8%)

    • Philippines:

      • Economic:

        • 09:00 SST: CPI Y/Y; consensus

  • Market Data:

    • Gold (Feb 24): +$0.20 or +0.01% to $2050.20

    • WTI Crude (Feb 24): +$0.14 or +0.19% to $72.33

    • $-¥: +1.39 or +0.97% to 144.6780

    • $-KRW: +0.91 or +0.07% to 1311.2500

    • A$-$: (0.00) or (0.36%) to 0.6706

    • $-INR: (0.05) or (0.06%) to 83.2426

    • $-CNY: (0.00) or (0.01%) to 7.1529

  • 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
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE