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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.62%, Hang Seng Futures (0.54%), ASX SPI 200 (0.15%), S&P Futures +0.01%

Jan 16 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Wednesday trade. Nikkei futures pointing to gains on the open while ASX opens with slight decline. Hang Seng futures lower after Nasdaq Golden Dragon index fell 4% on Tuesday. S&P 500 futures flat after US markets ended lower overnight. Australian and New Zealand yield curves bear steepening. FX markets steady after dollar index rose to one-month high. Gold near one-week low. Crude pulling back to bottom of recent range.

    • Latest bond yield backup put down to concerns markets have become too aggressive on extent of rate cuts being priced. Some economists noted Fed Governor Waller's remarks raised some doubt about a March rate cut and pace of easing. Comes as some Fed and ECB officials lately have pushed back against market's overly dovish rate outlook (pricing at least six Fed and ECB rate cuts).

    • China GDP and activity data on tap today. Q4 GDP growth forecast to have risen from 4.9% to 5.2% y/y, meeting governments' annual goal. No change expected in industrial production and fixed asset investment growth. Retail sales growth forecast to have slowed. Property investment slump anticipated to have maintained recent pace. Data likely to be flattered by low base-year effects, underscoring inherent economic weakness.

    • China mounting additional effort to stabilize economy with Bloomberg sources reporting Beijing weighing CNY1T ($139B) in special ultra-long sovereign bonds. Funding aimed at projects related to food, energy, supply chains and urbanization. Economists skeptical measure will address China's fiscal problems. Recent press coverage of China's economy has highlighted risk of persistent deflation with consumers and companies reticent to spend and invest.

  • Pre-open Company News:

    • 532754.IN -- GMR Airports Infrastructure reports December total passenger traffic 10.9M, +15.3% y/y

    • HALO -- Halozyme announces Takeda receives FDA approval for HYQVIA co-formulated with ENHANZE as maintenance therapy in adults with Chronic Inflammatory Demyelinating Polyneuropathy (CIDP)

    • 161390.KS -- HANKOOK TIRE & TECHNOLOGY Co. downgraded to outperform from buy at CLSA

    • 696.HK -- TravelSky Technology reports FY23 total volume processed by systems of domestic commercial airlines 609.5M, +147.6% y/y

    • TU.TB -- Thai Union Group Public to launch up-to-THB3.6B buyback, to run from 20-Feb to 30-Jun

    • 601689.CH -- Ningbo Tuopu Group guides FY net income attributable CNY2.05-2.25B vs FactSet CNY2.26B [19 est, CNY2.10-2.35B]

    • 000768.CH -- AVIC Aircraft guides FY net income attributable CNY840-940M vs FactSet CNY1.02B [9 est, CNY912-1.15B]

    • 500027.IN -- Atul Ltd initiated reduce at ICICI Securities

    • 315.HK -- SmarTone Telecommunications Holdings downgraded to hold from buy at DBS Group

    • 500034.IN -- Bajaj Finance assumed sell at UBS

    • 1773.HK -- Tianli International launches up to HK$130M share buyback in open market to run until next AGM

    • 002236.CH -- Zhejiang Dahua Technology initiated outperform at Haitong (timing uncertain)

    • 4502.JP -- Takeda Pharmaceutical announces FDA approval of HYQVIA as maintenance therapy in adults with Chronic Inflammatory Demyelinating Ployneuropathy (CIDP)

    • 500180.IN -- HDFC Bank reports Q3 standalone EPS INR21.49 vs StreetAccount INR20.65

    • 539254.IN -- Adani Transmission reports Q3 operational results: unit sales +14.8% y/y

  • On Deck:

    • China:

      • Economic:

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

        • 10:00 CST: GDP NSA Y/Y; consensus +5.2%

        • 10:00 CST: Industrial Output NSA Y/Y; consensus +6.5%

        • 10:00 CST: Retail Sales NSA Y/Y; consensus +7.7%

    • India:

      • Earnings:

        • Oracle Financial Services Software (532466.IN), ICICI Prudential Life Insurance (540133.IN)

  • Market Data:

    • Gold (Feb 24): +$0.10 or +0.00% to $2030.30

    • WTI Crude (Feb 24): ($0.41) or (0.57%) to $71.99

    • $-¥: +2.35 or +1.62% to 147.2090

    • $-KRW: +23.94 or +1.82% to 1337.3000

    • A$-$: (0.01) or (1.57%) to 0.6583

    • $-INR: +0.22 or +0.26% to 83.0881

    • $-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".

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