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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.32%, Hang Seng Futures +0.73%, ASX SPI 200 +1.02%, S&P Futures (0.09%)

Jan 08 ,2024

  • Synopsis:

    • Asia equities poised to open mostly higher Tuesday. Futures in Japan, Hong Kong and Australia traded firmer. US contracts consolidating sharp gains in cash session that saw Nasdaq outperforming S&P 500. Tech leads again mixed as SOX rallied while Golden Dragon China index fell sharply. Treasuries were firmer with some curve steepening, paring back some of last week's moves. Dollar remains soft, mostly vs yen, sterling and swiss franc. Gold finished down 0.8%, but off worst levels. Bitcoin futures were up 6.8%. WTI crude settled down 4.1% amid Saudi cut to selling prices and reports of possible Red Sea transit deals with the Houthis.

    • Tech outperformance largely tied to lower bond yields and Nvidia's (NVDA) new product announcements at CES. Boeing (BA) was the highlight on the downside after FAA temporarily grounded 737 Max-9 planes for inspections following the Alaska Airlines incident. Market narrative conveyed ongoing discussions about overbought conditions in equities credited for last week's weakness and similar imbalance in rate markets reflecting Fed rate cut expectations. US CPI remains the primary focus this week.

    • In regional developments, Monday's China equity weakness was attributed to Friday's news of Zhongzhi Enterprises filing for bankruptcy, adding to financial risks. A PBOC official flagged a potential RRR cut, supporting consensus forecasts for 25 bp easing in Q1. Expectations for a Q4 move were pushed back as large-scale liquidity injections substituted for rate cuts. Some attention on a Nikkei piece that suggested BOJ was effectively a net seller of equities last year when comparing dearth of ETF buying with planned sales of stocks procured from banks under a different program.

  • Pre-open Company News:

    • 2892.TT -- First Financial Holding reports December PBT NT$1.15B

    • Z25.SP -- Yanlord Land Group expects net loss for 2H23 and FY23

    • 9956.HK -- ANE (Cayman) appoints Xu Hao as CFO, effective 8-Jan

    • 1585.HK -- Yadea Group Holdings reveals new e-kickscooters and e-bike offerings at CES 2024

    • 601600.CH -- Aluminum Corp. of China's unit Shandong Huayu Alloy Materials enters bankruptcy liquidation process

    • 1238.HK -- Powerlong Real Estate Holdings reports December contracted sales CNY1.11B; StreetAccount notes year-ago figure CNY3.02B

    • 002938.CH -- Avary Holding (Shenzhen) reports December consolidated revenue CNY3.17B, (12.8%) y/y

    • 2315.HK -- Biocytogen Pharmaceuticals enters exclusive option, license agreement with Radiance Biopharma for HER2/TROP2 BsADC

    • HLVX -- HilleVax and Kangh announce exclusive license agreement for Hexavalent VLP Norovirus Vaccine Candidate Outside of China

    • 532978.IN -- Bajaj Allianz General Insurance reports December gross direct premium INR14.25B

    • 1765.HK -- Hope Education Group to build new campus in Guilin, acquires land for CNY98M

    • 1530.HK -- 3SBio Inc receives NMPA marketing approval for Mandi (5% minoxidil) Foam as over-the-counter drug for androgenetic alopecia and alopecia areata

    • AVNW -- Smartfren Telecom and Aviat establish strategic collaboration in Indonesia

    • 3380.HK -- Logan Group's Hong Kong winding up petitions adjourned to 15-Jan

    • 000876.CH -- New Hope Liuhe reports December pork sales CNY1.83B, (36.4%) y/y

  • On Deck:

    • Japan:

      • Economic:

        • 08:30 JST: Real Household Consumption Expenditure Y/Y; consensus

        • 08:30 JST: CPI Tokyo Y/Y; consensus

        • 08:30 JST: Real Household Income Y/Y; consensus

      • Earnings:

        • Welcia Holdings (3141.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Retail Sales SA M/M (Final); consensus +0.8%

        • 11:30 AEST: Building Approvals SA M/M; consensus

    • Taiwan:

      • Economic:

        • 16:00 TST: Export NSA Y/Y; consensus +8.2%

  • Market Data:

    • Gold (Feb 24): +$1.50 or +0.07% to $2035.00

    • WTI Crude (Feb 24): +$0.09 or +0.13% to $70.86

    • $-¥: (0.47) or (0.33%) to 144.1590

    • $-KRW: (0.38) or (0.03%) to 1311.2000

    • A$-$: +0.00 or +0.03% to 0.6716

    • $-INR: (0.19) or (0.23%) to 83.0457

    • $-CNY: +0.03 or +0.38% to 7.1569

  • 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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