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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.11%, Hang Seng Futures +1.03%, ASX SPI 200 +0.23%, S&P Futures +0.03%

Jan 22 ,2024

  • Synopsis:

    • Asian markets set for a mixed start to Tuesday trade. Hang Seng futures pointing to rebound on the open. Nikkei futures little changed. ASX popping higher in initial trade. S&P 500 futures flat in extended trade after index logged another record closing high. FX markets steady with dollar remaining range bound on major crosses. Crude neared highest in a month. Gold flat. Bitcoin extended drop to its lowest since early December.

    • BOJ widely expected to policy unchanged while source reports have noted near-term core inflation forecast will be revised lower, reflecting waning cost-push factors. Most of the attention is on rate hike timing with April still seen as most likely month following spring wage negotiations. Policy statement and Governor Ueda's press conference will be closely scrutinized, particularly assessment of virtuous cycle between wages and inflation.

    • Ongoing China selloff has widened Hang Seng's month-to-date decline to more than 12%. Pessimism extended through offshore session with Nasdaq Golden Dragon index falling another 2%. Authorities have stepped up efforts to mitigate spillovers with major state-owned banks reportedly supporting yuan on Monday as equities sold off. State Council again vowed more forceful measures to support market confidence.

    • China market selloff has spotlighted contrast with outperformance of other Asian benchmarks. Nikkei hit fresh 34-year high on Monday (up 9% month-to-date) with recent momentum underpinned by strong foreign inflows. Tech leading gains amid AI-related optimism while yen weakness also mentioned as a tailwind as markets priced out January BOJ rate hike. India stockmarket another notable outperformer with analysts citing its relatively stronger economic outlook.

  • Pre-open Company News:

    • ^ASIAREADS -- StreetAccount Asia Reads

    • 500325.IN -- Reliance Industries downgraded to hold from buy at Systematix Institutional Research

    • 603596.CH -- Bethel Automotive Safety Systems guides FY net income attributable CNY881.0-957.4M vs FactSet CNY900.9M [15 est, CNY869.7-987M]

    • 300274.CH -- Sungrow Power Supply guides FY net income attributable CNY9.30-10.30B vs FactSet CNY9.77B [24 est, CNY8.02-16.45B]

    • 533273.IN -- Oberoi Realty reports Q3 consolidated EPS INR9.91 vs year-ago INR19.32

    • 600918.CH -- Zhongtai Securities guides FY net income attributable CNY1.71-2.05B vs year-ago CNY590.2M

    • 6594.JP -- StreetAccount Consensus Metrics Preview - Nidec Q3 Earnings

    • AWX.SP -- AEM Holdings to make SG$18-25M adjustment to Q4 pretax income due to shortfall in inventories

    • 1508.HK -- China Reinsurance (Group) reports FY aggregate primary premium income CNY49.36B

    • 1208.HK -- MMG Ltd CFO Ross Carroll to retire, effective 6-Mar

    • IONS -- Ionis announces topline results from Phase 3 OASIS-HAE study of investigational donidalorsen in patients with hereditary angioedema

    • 3692.HK -- NMPA approves trial of Hansoh Pharmaceutical's HS-10501 tablets intended for type 2 diabetes mellitus, obesity in adults

    • 603606.CH -- Ningbo Orient Wires & Cable to subscribe 8.5% stake in XLCC Ltd. for £10M (CNY100M)

    • 002648.CH -- Satellite Chemical guides FY net income attributable CNY4.60-5.20B vs FactSet CNY4.75B [17 est, CNY4.34-5.19B]

    • 2007.HK -- Country Garden auctions five real estate assets in Guangzhou for total reserve prices of CNY3.82B

  • On Deck:

    • Hong Kong:

      • Earnings:

        • New Oriental Education & Technology Group (9901.HK)

    • Japan:

      • Economic:

        • 12:00 JST: BOJ policy rate; consensus (0.1%)

    • Australia:

      • Economic:

        • 11:30 AEST: NAB Business Confidence; consensus

    • India:

      • Earnings:

        • United Spirits (532432.IN), JSW Energy (533148.IN), Pidilite Industries (500331.IN), Havells India (517354.IN), KEI Industries (517569.IN), L&T Finance Holdings (533519.IN), Indus Towers (534816.IN)

    • Singapore:

      • Earnings:

        • Sabana Industrial Real Estate Investment Trust (M1GU.SP)

  • Market Data:

    • Gold (Feb 24): +$0.30 or +0.01% to $2022.50

    • WTI Crude (Feb 24): $0.00 or 0.00% to $75.19

    • $-¥: (0.05) or (0.04%) to 148.1000

    • $-KRW: +3.57 or +0.27% to 1337.6900

    • A$-$: (0.00) or (0.43%) to 0.6569

    • $-INR: (0.03) or (0.04%) to 83.1114

    • $-CNY: +0.01 or +0.21% to 7.1932

  • 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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