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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.36%, Hang Seng Futures +0.10%, ASX SPI 200 +1.24%, S&P Futures 0.00%

Jan 18 ,2024

  • Synopsis:

    • Asian markets set for positive start to Friday trade. Futures pointing to gains in Japan and Hong Kong as ASX rallies in initial trade. S&P 500 futures flat afterhours. Bonds market weakness continues with Australian and New Zealand curves steepening. FX markets range-bound with dollar holding index just below one-month high. Gold extended rebound from Thursday's lows. Crude near one-week high. Bitcoin trading towards lowest since early December.

    • Rate-cut repricing still the big area of focus with market-based March Fed rate cut odds having slipped to ~55%. Atlanta Fed's Bostic (voter) reiterated cautious approach to easing amid bumpy outlook for inflation. Market still focused on an aggressive overall Fed pivot in 2024, with around 150 bp of cuts being priced in (though this is down from peak of ~170 bp that was being priced in recently).

    • Positive developments in the tech/semi space contributed to overnight strength. AAPL upgraded to buy from neutral at BofA, which cited upside from AI and stronger multi-year iPhone upgrade cycle. TSMC's results also positively received with takeaways noting above-consensus guidance pointing to semi-recovery, continued AI-driven strength, and 3nm growth. AAPL up 3% in US while TSMC rallied 10%.

  • Pre-open Company News:

    • ^TTNEURO -- EU semiconductor and luxury names shine on peer read-across:

    • 601857.CH -- PetroChina initiated buy at BOCI Securities Limited (timing uncertain)

    • ^ASIAREADS -- StreetAccount Asia Reads

    • BBL.TB -- Bangkok Bank Public reports Q4 net income attributable THB8.86B vs StreetAccount THB10.52B

    • 532187.IN -- Follow-up: IndusInd Bank reports Q3 Net interest income INR52.96B vs StreetAccount INR52.34B

    • 2150.HK -- Nayuki Holdings Q4 business update: reports 1,574 total teahouses, 214 net additions, 14 closures

    • 6068.HK -- Wisdom Education International financial controller Chan Chit Ming resigns from all roles, effective today

    • 806.HK -- Value Partners Group reports unaudited AUM of $5.6B as at 31-Dec

    • 6669.TT -- Wiwynn reports Q4 preliminary EPS NT$20.10 vs FactSet NT$17.29 [17 est, NT$13.28-20.41]

    • 542652.IN -- Polycab India reports Q3 consolidated EPS INR27.40 vs FactSet INR28.58 [7 est, INR26.20-31.77]

    • 524000.IN -- Poonawalla Fincorp confirms long-term guidance of 30-35% profit growth vs +76% y/y PAT growth in Q3

    • 532187.IN -- IndusInd Bank reports Q3 standalone EPS INR29.50 vs StreetAccount INR29.51

    • 128940.KS -- Hanmi Pharmaceutical Co. upgraded to outperform from underperform at CLSA

    • VFS -- VinFast reports Q4 deliveries of 13,513 EVs, +35% q/q

    • 524000.IN -- Poonawalla Fincorp reports Q3 standalone EPS INR3.41 vs year-ago INR1.94

  • On Deck:

    • China:

      • Economic:

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

    • Japan:

      • Economic:

        • 08:30 JST: CPI National Y/Y +2.6%; consensus +2.5%

        • 08:30 JST: CPI Core National Y/Y +2.3%; consensus +2.3%

        • 08:30 JST: CPI ex-Fresh Food and Energy +3.7%

      • Earnings:

        • Tokyo Steel Manufacturing (5423.JP)

    • India:

      • Earnings:

        • Atul Ltd (500027.IN), Hindustan Zinc (500188.IN), UltraTech Cement (532538.IN), Central Bank of India (532885.IN), Reliance Industries (500325.IN), One 97 Communications (Paytm) (543396.IN)

    • Thailand:

      • Earnings:

        • SCB X Public Co. (SCB.TB), TMBThanachart Bank Public Co. (TTB.TB)

  • Market Data:

    • Gold (Feb 24): +$2.50 or +0.12% to $2024.10

    • WTI Crude (Feb 24): ($0.03) or (0.04%) to $74.05

    • $-¥: (0.04) or (0.03%) to 148.1240

    • $-KRW: (7.39) or (0.55%) to 1338.0500

    • A$-$: +0.00 or +0.37% to 0.6577

    • $-INR: (0.04) or (0.05%) to 83.1650

    • $-CNY: (0.00) or (0.01%) to 7.1772

  • 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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