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StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.21%), Hang Seng Futures (0.24%), ASX SPI 200 (0.42%), S&P Futures (0.44%)

Jan 30 ,2024

  • Synopsis:

    • Asian markets set for a negative start to Wednesday trade. Nikkei and Hang Seng futures signaling minor declines on the open as ASX weakens in initial trade. US contracts pulling back with GOOGL and MSFT lower in postmarket trade following earnings. Australian bonds strengthening ahead of CPI data. FX markets steady as dollar index remains range bound. Crude flat amid latest volley of Middle East headlines and API data showing larger-than-expected inventory draw. Gold steady after retreating from two-week high. Bitcoin little changed.

    • China official manufacturing PMI forecast to have remained in contraction albeit with pace of decline narrowing from December. Non-manufacturing PMI expected to have edged higher. China equity markets on track for a heavy monthly loss as policy support measures struggle to gain traction among investors, reinforcing bearish views on its economy and need for more comprehensive fiscal stimulus aimed at reviving domestic demand.

    • Australian Q4 CPI forecast to show inflation moderated in Q4 to below RBA's year-end target. Attention will be on extent of services inflation stickiness given RBA's increased focus on homegrown inflation challenges. While there is broad consensus that cash rate has peaked, data could have bearing on rate cut timing with futures currently pricing in first reduction around August and another by end-2024.

  • Pre-open Company News:

    • 180640.KS -- HANJIN KAL reports FY operating profit KRW46.67B vs FactSet KRW54.00B

    • 532978.IN -- Bajaj Finserv acquires 100% stake in Vidal Healthcare Services for INR3.25B EV

    • 600754.CH -- Shanghai Jin Jiang International Hotels guides FY net income attributable CNY950.0M-1.05B vs FactSet CNY1.21B [20 est, CNY1.02-1.37B]

    • 002709.CH -- Guangzhou Tinci Materials Technology guides FY net income attributable CNY1.80-2.00B vs FactSet CNY2.29B [9 est, CNY2.02-2.73B]

    • 003490.KS -- KOREAN AIR LINES Co. reports Q4 operating profit KRW183.61B vs FactSet KRW365.71B

    • 600019.CH -- Baoshan Iron & Steel reports preliminary FY net income attributable CNY12.01B vs FactSet CNY11.01B [15 est, CNY9.49-12.76B]

    • 600340.CH -- China Fortune Land Development guides FY net income attributable (CNY6.1-9.0B) vs year-ago CNY1.58B

    • 542066.IN -- Adani Total Gas reports Q3 standalone EPS INR1.57 vs year-ago INR1.35

    • 603858.CH -- Shandong Buchang Pharmaceuticals guides FY net income attributable CNY276.0-368.0M vs year-ago (CNY1.53B)

    • 500049.IN -- Bharat Electronics receives INR8.47B order from CBIC of Ministry of Finance for implementation & management of IT infrastructure

    • 002032.CH -- Zhejiang Supor guides FY net income attributable CNY2.17-2.19B vs FactSet CNY2.20B [18 est, CNY2.13-2.28B]

    • 506395.IN -- Coromandel International reports Q3 consolidated EPS INR7.83 vs FactSet INR12.57 [3 est, INR11.50-13.80]

    • 902.HK -- Huaneng Power International guides FY net income attributable CNY8.00-9.00B vs FactSet CNY13.98B [20 est, CNY5.64-16.55B]

    • 603882.CH -- Guangzhou Kingmed Diagnostics Group guides FY net income attributable CNY600-730M vs FactSet CNY742.4M [10 est, CNY576.5-803M]

    • CMOU.SP -- Keppel Pacific Oak US REIT reports portfolio valuation $1.33B as at 31-Dec-23, (6.8%) vs year-ago $1.42B

  • On Deck:

    • China:

      • Economic:

        • 09:30 CST: CFLP PMI Manufacturing; consensus 49.2

        • 09:30 CST: CFLP Non Manufacturing PMI; consensus 50.6

        • 09:30 CST: CFLP Services PMI; consensus

    • Hong Kong:

      • Earnings:

        • Shinsun Holdings (Group) (2599.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Industrial Production SA M/M (Preliminary); consensus +2.5%

        • 08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +4.9%

        • 14:00 JST: Housing Starts NSA Y/Y; consensus (2.3%)

      • Earnings:

        • Kinden (1944.JP), SMS Co. (2175.JP), SOHGO SECURITY SERVICES (2331.JP), M3 (2413.JP), Toyo Suisan Kaisha (2875.JP), ZOZO Inc (3092.JP), Nomura Real Estate Holdings (3231.JP), Nomura Research Institute (4307.JP), Sumitomo Pharma (4506.JP), Shionogi & Co. (4507.JP), Daiichi Sankyo (4568.JP), CyberAgent (4751.JP), Niterra (5334.JP), Hitachi (6501.JP), Fuji Electric Co. (6504.JP), Fujitsu (6702.JP), TDK (6762.JP), Advantest (6857.JP), Lasertec (6920.JP), Stanley Electric (6923.JP), Daiwa Securities (8601.JP), Nomura (8604.JP), Nomura (8604.JP), ANA HOLDINGS (9202.JP), The Kansai Electric Power Co. (9503.JP), The Chugoku Electric Power (9504.JP), Tohoku Electric Power (9506.JP), Kyushu Electric Power (9508.JP), Electric Power Development (9513.JP), SCSK Corp (9719.JP), Benefit One (2412.JP), Tokuyama (4043.JP), Ono Pharmaceutical (4528.JP), TOTO Ltd (5332.JP), NGK Insulators (5333.JP), Nippon Light Metal Holdings Co. (5703.JP), Sanwa Holdings (5929.JP), LIXIL Corp. (5938.JP), Okuma Corp (6103.JP), Makita (6586.JP), Shinko Electric Industries (6967.JP), SCREEN (7735.JP), Resona (8308.JP), Sumitomo Mitsui Trust Holdings (8309.JP), Keisei Electric Railway Co. (9009.JP), East Japan Railway (9020.JP), West Japan Railway (9021.JP), Nankai Electric Railway (9044.JP), Mitsubishi Logistics (9301.JP), Capcom (9697.JP)

    • South Korea:

      • Economic:

        • 08:00 KST: Industrial Production M/M; consensus +0.9%

        • 08:00 KST: Industrial Production NSA Y/Y; consensus +5.3%

      • Earnings:

        • KOREAN AIR LINES Co. (003490.KS), HANJIN KAL (180640.KS), Samsung Electro-Mechanics Co. (009150.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: CPI NSA Q/Q; consensus +0.8%

        • 11:30 AEST: RBA Trimmed Mean CPI Q/Q; consensus

        • 11:30 AEST: Private Sector Credit M/M; consensus +0.4%

      • Earnings:

        • Kelly Partners Group Holdings (KPG.AU)

    • India:

      • Earnings:

        • Procter & Gamble Hygiene & Health Care (500459.IN), Bank of Baroda (532134.IN), Jindal Steel & Power (532286.IN), Suzlon Energy (532667.IN), Adani Wilmar (543458.IN), Carborundum Universal (513375.IN), GMR Airports Infrastructure (532754.IN), Max Healthcare Institute (543220.IN), Mankind Pharma (543904.IN)

    • Singapore:

      • Earnings:

        • Keppel Infrastructure Trust (A7RU.SP), GuocoLand (F17.SP), Keppel (BN4.SP), Keppel Pacific Oak US REIT (CMOU.SP), AIMS APAC REIT (O5RU.SP), Singapore Exchange (S68.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: GDP NSA Y/Y (Preliminary); consensus +4.06%

      • Earnings:

        • United Microelectronics (2303.TT)

    • Philippines:

      • Economic:

        • 10:05 SST: GDP NSA Y/Y; consensus +5.9%

  • Market Data:

    • Gold (Apr 24): +$3.30 or +0.16% to $2054.20

    • WTI Crude (Mar 24): ($0.04) or (0.05%) to $77.78

    • $-¥: +0.01 or +0.00% to 147.5080

    • $-KRW: (6.89) or (0.52%) to 1326.7200

    • A$-$: (0.00) or (0.23%) to 0.6596

    • $-INR: (0.13) or (0.16%) to 83.1086

    • $-CNY: (0.02) or (0.31%) to 7.1584

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