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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.47%, Hang Seng Futures (0.56%), ASX SPI 200 (0.82%), S&P Futures (0.14%)

Jan 15 ,2024

  • Synopsis:

    • Asia markets set for mixed start to Tuesday trade. Nikkei futures signaling more gains on the open while Hang Seng pointing to mild losses. ASX lower in initial trade. US contracts down slightly after European markets weakened overnight. Australian and New Zealand yield curves bear steepening, tracking earlier move in European bonds. Dollar range-bound following initial strength. Crude continues to push above earlier lows.. Gold flat. Bitcoin off highs.

    • Attention turning to China GDP and activity data on Wednesday, which are forecast to show some improvement albeit driven in part by low base year effects. Consensus forecasts are for rebound in GDP growth that meets governments' annual growth target of ~5%. However, focus is mostly on 2024 growth prospects with Reuters poll showing median forecast for GDP growth to fall to ~4.5%, weighed down by property sector and tepid demand.

    • Red Sea tensions continue to fester after Houthis fired more anti-ship missiles in response to US-led strikes against its Yemen facilities. Latest Houthi missile struck US cargo ship but no damage was reported. Uncertainty fueling concerns of prolonged disruption that leaves spot shipping rates higher and delays deliveries. Some companies have also paused production due to parts shortages, risking downstream impact on consumer prices.

  • Pre-open Company News:

    • 603885.CH -- Juneyao Airlines reports December traffic +147.65% y/y

    • 544027.IN -- Fedbank Financial Services reports Q3 EPS INR1.89 vs year-ago INR1.59

    • 1336.HK -- New China Life Insurance reports 1-Jan to 31-Dec premium income of CNY165.90B

    • 670.HK -- China Eastern Airlines reports December traffic +260.38% y/y

    • 543940.IN -- Jio Financial Services reports Q3 consolidated NPAT INR2.94B vs quarter-ago INR6.68B

    • 141080.KS -- PAN ORION Corp to acquire 25.7% stake in LegoChem Biosciences for KRW548.49B in cash

    • BHK.SP -- SIIC Environment Holdings wins 50K-tonne project in Heilongjiang; signs tariff increase for Qingpu Second WWTP project

    • 601158.CH -- Chongqing Water Group initiated overweight at Northeast Securities (timing uncertain)

    • 505200.IN -- Eicher Motors downgraded to underweight from equal-weight at Morgan Stanley

    • India December merchandise trade deficit ($19.80B) vs consensus ($21.00B) and ($20.58B) in November

    • 2196.HK -- Fosun Pharma gets NMPA approval for phase 1 clinical trials of XH-S004 for non-cystic fibrosis bronchiectasis

    • C6L.SP -- Singapore Airlines reports December traffic +15.8% y/y

    • HDFC Securities upgrades 500260.IN; downgrades 500425.IN

    • 688169.CH -- Beijing Roborock Technology initiated buy at Huaan Securities (timing uncertain)

    • 600487.CH -- Hengtong Optic-Electric launches CNY100-200M share buyback at up to CNY17.64/share to run for 12 months

  • On Deck:

    • China:

      • Economic:

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

    • Japan:

      • Economic:

        • 08:50 JST: Domestic CGPI NSA Y/Y; consensus

        • 13:30 JST: Retail Sales NSA Y/Y (Final); consensus

    • India:

      • Earnings:

        • Federal Bank Ltd (India) (500469.IN), ICICI Lombard General Insurance (540716.IN)

  • Market Data:

    • Gold (Feb 24): +$6.60 or +0.32% to $2058.20

    • WTI Crude (Feb 24): +$0.28 or +0.39% to $72.96

    • $-¥: +0.99 or +0.69% to 145.8570

    • $-KRW: +5.89 or +0.45% to 1319.2500

    • A$-$: (0.00) or (0.57%) to 0.6650

    • $-INR: (0.04) or (0.05%) to 82.8338

    • $-CNY: +0.01 or +0.11% to 7.1700

  • 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