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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.25%, Hang Seng Futures (1.38%), ASX SPI 200 +0.58%, S&P Futures (0.04%)

Jan 29 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Tuesday trade. Hang Seng futures pointing to losses on the open after Nasdaq Golden Dragon index fell 1% overnight. Nikkei futures signaling mild gains at the beginning of trade. ASX opens higher. S&P 500 futures flat after index logged another record high. FX markets steady following another listless session with dollar remaining range bound. Crude erased earlier gain on spike in Middle East tensions. Gold little changed. Bitcoin at two-week high.

    • Limited fallout from Evergrande liquidation news with Hang Seng properties index registering mild gain Monday following Hong Kong court winding-down order. Attention turns to how courts in mainland China court will rule given its separate legal system and with bulk of Evergrande's assets located in mainland. More broadly, situation underlines policymaker challenge in trying to resuscitate housing market while mitigating contagion risks.

    • Markets still balancing competing narratives. Risk sentiment continue to be underpinned by soft landing hopes, disinflation momentum and still-dovish rate forecasts. Surprise reduction in US Treasury's Q1 borrowing estimates also helped dampen bond supply concerns. At the same time, there has been growing focus on geopolitical tensions, US political and policy uncertainty, China stimulus skepticism and financial stability risks.

  • Pre-open Company News:

    • 543066.IN -- Quick Take: SBI Cards & Payment Services Q3 Earnings

    • ^ASIAREADS -- StreetAccount Asia Reads

    • 539254.IN -- Adani Energy Solutions reports Q4 consolidated EPS ex-reg def bal INR3.22 vs year-ago INR3.92

    • 9969.HK -- InnoCare Pharma guides FY net income attributable (CNY656.0M) vs FactSet (CNY728.7M) [7 est, (CNY960.6)-(543.1M)]

    • 600346.CH -- Hengli Petrochemical guides FY net income attributable CNY6.90B vs FactSet CNY7.99B [17 est, CNY7.02-8.97B]

    • 601058.CH -- Sailun Group guides FY net income attributable CNY3.10B vs FactSet CNY2.77B [10 est, CNY2.62-3.00B]

    • 603218.CH -- Riyue Heavy Industry guides FY net income attributable CNY450-520M vs FactSet CNY519.6M [3 est, CNY504-543.8M]

    • 002074.CH -- Gotion High-tech guides FY net income attributable CNY800.0M-1.10B vs FactSet CNY515.4M [12 est, CNY407.4-848.0M]

    • 532155.IN -- GAIL (India) reports Q3 standalone EPS INR4.32 vs FactSet INR3.33 [7 est, INR2.90-3.66]

    • 2689.HK -- Nine Dragons Paper Holdings guides H1 net income attributable CNY200-400M vs year-ago (CNY1.39B)

    • 267.HK -- CITIC Ltd appoints vice chairman Xi Guohua as chairman; effective today

    • 603658.CH -- Autobio Diagnostics proposes CNY250-500M share buyback at up to CNY60/share to run for 12 months

    • N2IU.SP -- Mapletree Pan Asia Commercial Trust reports Q3 amount available for distribution SG$115.3M vs year-ago SG$127.0M

    • CY6U.SP -- CapitaLand India Trust reports FY income to be distributed SG$85.2M, (10%) vs year-ago SG$95.1M

    • 603833.CH -- Oppein Home Group guides FY net income attributable CNY2.96-3.23B vs FactSet CNY3.08B [23 est, CNY2.96-3.19B]

  • On Deck:

    • Hong Kong:

      • Earnings:

        • Hang Lung Group (10.HK), Hang Lung Properties (101.HK)

    • Japan:

      • Economic:

        • 08:30 JST: Unemployment Rate; consensus 2.5%

        • 09:30 JST: Import NSA Y/Y (Final); consensus (6.8%)

        • 09:30 JST: Export NSA Y/Y (Final); consensus +9.8%

        • 09:30 JST: Trade Balance NSA (Final); consensus

      • Earnings:

        • Nihon M&A Center Holdings (2127.JP), Hulic Co. (3003.JP), Sekisui Chemical (4204.JP), Komatsu (6301.JP), Socionext (6526.JP), NEC Corp (6701.JP), Alps Alpine Co. (6770.JP), Canon (7751.JP), Daito Trust Construction (1878.JP), Nisshin Seifun Group (2002.JP), Oriental Land Co. (4661.JP), Central Japan Railway (9022.JP), Osaka Gas (9532.JP)

    • South Korea:

      • Earnings:

        • Hyundai Steel (004020.KS), Samsung Engineering Co. (028050.KS), Samsung Electronics (005930.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: Retail Sales SA M/M (Preliminary); consensus (2%)

      • Earnings:

        • PointsBet Holdings (PBH.AU), Atlas Arteria (ALX.AU), Ansarada Group (AND.AU), Zip Co (ZIP.AU)

    • India:

      • Earnings:

        • Mahindra & Mahindra Financial Services (532720.IN), Astral (532830.IN), Adani Total Gas (542066.IN), KPIT Technologies (542651.IN), PB Fintech (543390.IN), Bajaj Holdings & Investment (500490.IN), Voltas (500575.IN), SRF Ltd (503806.IN), Coromandel International (506395.IN), Bajaj Finserv (532978.IN), ZF Commercial Vehicle Control Systems India (533023.IN), Star Health & Allied Insurance (543412.IN)

    • Singapore:

      • Earnings:

        • CDL Hospitality Trusts (J85.SP), Keppel REIT (K71U.SP), CapitaLand China Trust (AU8U.SP), Keppel Infrastructure Trust (A7RU.SP), Frasers Logistics & Commercial Trust (BUOU.SP)

    • Taiwan:

      • Earnings:

        • Chunghwa Telecom (2412.TT)

    • Thailand:

      • Earnings:

        • PTT Exploration & Production (PTTEP.TB)

  • Market Data:

    • Gold (Feb 24): +$4.70 or +0.23% to $2030.10

    • WTI Crude (Mar 24): +$0.17 or +0.22% to $76.95

    • $-¥: (0.79) or (0.53%) to 147.3900

    • $-KRW: (5.07) or (0.38%) to 1331.7500

    • A$-$: +0.00 or +0.58% to 0.6614

    • $-INR: +0.06 or +0.07% to 83.1740

    • $-CNY: +0.02 or +0.34% to 7.1798

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