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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.63%, Hang Seng Futures +0.82%, ASX SPI 200 (0.03%), S&P Futures (0.22%)

Jan 28 ,2024

  • Synopsis:

    • Asian markets set for positive start to Monday trade. Futures pointing to opening gains in Japan and Hong Kong. ASX flat in initial trade. S&P 500 futures pulling back after index posted fresh all-time high. Australian bonds strengthening, tracking Treasury curve bull steepening. FX markets steady with US dollar remaining range bound. Crude at two-month high, extending gains after Houthi attack on Russian fuel tanker heightened Red Sea tensions. Gold gaining though remains in narrow range.

    • Market bounce tabbed to stabilization of Fed pivot repricing ahead of January FOMC meeting with ~140 bp of rate cuts priced in for the year. More traction behind disinflation narrative after US core PCE inflation fell to lowest since Mar-2021 on annualized basis. Data prompted some economists to reiterate expectations for March rate (markets pricing in ~50% odds of March cut).

    • China markets begin new trading week following big bounce last week on reports Beijing weighing market rescue package and surprise 50 bp RRR cut that injected ~$140B of liquidity. China's security regulator to also begin barring lending of restricted shares in latest attempt to stabilize markets. Stocks saw biggest weekly inflow since 2015 following the developments, though there remains usual skepticism about bounce sustainability given lack of traction behind prior fine-tuning measures.

  • Pre-open Company News:

    • 300759.CH -- Pharmaron Beijing reports preliminary FY net income attributable CNY1.57-1.64B vs FactSet CNY1.68B [22 est, CNY1.44-1.96B]

    • 570.HK -- China Traditional Chinese Medicine Holdings guides FY net income to increase by 85-95% y/y

    • 177.HK -- Jiangsu Expressway announces acquisition of 65% equity of Jiangsu Su-Wuxi-Chang Southern Expressway Co., Ltd.

    • 600570.CH -- Hundsun Technologies reports preliminary FY23 net income attributable CNY1.34B vs FactSet CNY1.76B [18 est, CNY1.48-2.30B]

    • 002044.CH -- Meinian Onehealth Healthcare Holdings Co. guides FY net income attributable CNY460.0M-570.0M vs year-ago (CNY533.1M)

    • 600258.CH -- BTG Hotels (Group) Co. guides FY23 net income attributable CNY770-830M vs FactSet CNY785.3M [21 est, CNY561.1-919.0M]

    • 600325.CH -- Zhuhai Huafa Properties reports 2023 contracted sales CNY125.99B, +4.8% y/y

    • 600588.CH -- Yonyou Network Technology downgraded to underweight from neutral at JPMorgan

    • JPMorgan upgrades Shriram Finance; downgrades Punjab National Bank & SBI Cards

    • 500104.IN -- Hindustan Petroleum downgraded to reduce from add at Equirus Securities

    • 500104.IN -- Hindustan Petroleum downgraded to reduce from accumulate at Elara Capital

    • 500470.IN -- Tata Steel downgraded to reduce from accumulate at Elara Capital

    • 532343.IN -- TVS Motor upgraded to buy from hold at BOB Capital Markets

    • 543066.IN -- SBI Cards & Payment Services downgraded to hold from buy at BOB Capital Markets

    • 3331.HK -- Vinda International Holdings upgraded to add from reduce at CGS-CIMB

  • On Deck:

    • Japan:

      • Earnings:

        • Koei Tecmo Holdings (3635.JP), Macnica Holdings (3132.JP), Japan Exchange (8697.JP)

    • South Korea:

      • Earnings:

        • Samsung SDI (006400.KS)

    • Australia:

      • Earnings:

        • Perpetual (PPT.AU)

    • India:

      • Earnings:

        • Bajaj Finance (500034.IN), Piramal Enterprises (500302.IN), NTPC Ltd (532555.IN), ITC Ltd (500875.IN), Bharat Petroleum (500547.IN), Petronet LNG (532522.IN), Vodafone Idea (532822.IN)

    • Singapore:

      • Earnings:

        • CapitaLand Ascott Trust (HMN.SP), CapitaLand India Trust (CY6U.SP), Keppel REIT (K71U.SP), Mapletree Pan Asia Commercial Trust (N2IU.SP), Starhill Global REIT (P40U.SP), OUE Commercial REIT (TS0U.SP)

  • Market Data:

    • Gold (Feb 24): +$9.70 or +0.48% to $2027.00

    • WTI Crude (Mar 24): +$0.98 or +1.26% to $78.99

    • $-¥: (0.02) or (0.01%) to 148.1580

    • $-KRW: (0.49) or (0.04%) to 1336.3300

    • A$-$: (0.00) or (0.02%) to 0.6575

    • $-INR: +0.00 or +0.00% to 83.1208

    • $-CNY: (0.00) or (0.01%) to 7.1548

  • 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:
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