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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.36%), Hang Seng Futures +0.58%, ASX SPI 200 (0.94%), S&P Futures +0.12%

Jan 31 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Thursday trade. Nikkei futures pointing to opening declines of at least 1%. Hang Seng futures signaling gains at the start of trade. ASX retreating from record high. US contracts steady afterhours following post-FOMC sell-off. Australian and New Zealand bonds rallying, tracking earlier Treasury curve bull steepening. FX markets little changed after dollar rebounded on FOMC decision, recouping earlier losses. Crude near one-week low. Gold and Bitcoin remain below earlier highs.

    • Hawkish takeaways from Fed meeting after committee doused expectations of a rate cut in March. Statement and Chair Powell stressed need for greater confidence that inflation is moving to 2% target before easing. Odds of March rate cut fell to 35% from 40% the day prior. Still, policy statement removed tightening bias while ADP payrolls miss provided further support to the disinflation narrative. Bond market support also attributed to banking sector reverberations from NYCB's surprise quarterly loss (KRX down 6%).

    • Latest China selloff brought CSI 300 to its lowest in five years. Capped off 6% loss in January and largest monthly outflow from mainland shares since 2014, as policy support and market intervention headlines struggle to find traction among investors. Evergrande's winding-up order on Monday heightened concerns over struggling property developers. Economic problems persist after manufacturing slump continued in January and home sales fell sharply again. Also some attention this week on market risks tied to derivatives.

    • Takeaways from January BOJ Summary of Opinions appear to reinforce views of a BOJ rate hike in March or April, as policymakers grow more confident about achieving inflation target. Comes as major Japan labor union said it is aiming for 6% pay hikes ahead of upcoming wage negotiations. RBA another focus after economists brought forward rate cut expectations following larger-than-expected fall in Australian Q4 inflation.

  • Pre-open Company News:

    • ^BANKING.APAC -- Street Takeaways - Singapore Banking Sector Q4 Reporting Season Preview

    • 032830.KS -- Samsung Life Insurance Co. reports FY operating profit KRW2.398T vs year-ago KRW1.387T

    • 532134.IN -- Bank of Baroda reports Q3 standalone EPS INR8.86 vs FactSet INR7.78 [7 est, INR6.65-8.51]

    • 532689.IN -- PVR INOX reports Q3 consolidated EPS INR1.30 vs FactSet INR2.10 [5 est, (INR3.20)-7.00]

    • 500510.IN -- Quick Take - Larsen & Toubro (500510) Q3 Earnings

    • 600989.CH -- Ningxia Baofeng Energy Group controlling shareholder to increase holdings by CNY100-200M

    • 603605.CH -- Proya Cosmetics completes buyback programme at 2.2M shares totaling CNY192.1M

    • 603568.CH -- Zhejiang Weiming Environment Protection completes CNY180.0M buyback, total shares repurchased 10.6M

    • 600703.CH -- Sanan Optoelectronics completes CNY500M-1.0B buyback

    • 603517.CH -- Juewei Food completes CNY300.0M buyback, total shares repurchased 11.3M

    • 532522.IN -- Petronet LNG downgraded to sell from reduce at YES Securities

    • 601231.CH -- Universal Scientific Industrial (Shanghai) reports preliminary FY net income attributable CNY1.95B vs FactSet CNY2.07B [6 est, CNY1.94-2.21B]

    • 500124.IN -- Dr. Reddy's Laboratories downgraded to reduce from neutral at YES Securities

    • 600703.CH -- Sanan Optoelectronics launches CNY500M-1.0B buyback at not more than CNY17/share, to run for three months from today

    • 600161.CH -- Beijing Tiantan Biological Products terminates phase III clinical trial of cytomegalovirus immunoglobulin injection

  • On Deck:

    • Japan:

      • Earnings:

        • IBIDEN Co. (4062.JP), Takeda Pharmaceutical (4502.JP), Chugai Pharmaceutical (4519.JP), OTSUKA CORP (4768.JP), Konica Minolta (4902.JP), ROHM Co. (6963.JP), Kyocera (6971.JP), Hino Motors (7205.JP), Mitsubishi Motors (7211.JP), Meitec (9744.JP), KONAMI (9766.JP), Yamada Holdings (9831.JP), NH Foods (2282.JP), Kagome (2811.JP), Shizuoka Financial Group (5831.JP), HIROSE ELECTRIC (6806.JP), HOYA Corp (7741.JP), Nippon Gas Co Ltd (8174) (8174.JP), Aozora Bank (8304.JP), Sumitomo Mitsui Financial (8316.JP)

    • South Korea:

      • Economic:

        • 11:00 KST: Import NSA Y/Y; consensus (6.4%)

        • 11:00 KST: Trade Balance NSA; consensus +$499.4B

        • 11:00 KST: Export NSA Y/Y; consensus +20%

      • Earnings:

        • SK bioscience Co. (302440.KS), S-Oil Corp (010950.KS), NAVER (035420.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: Building Approvals SA M/M; consensus +0.5%

      • Earnings:

        • Pinnacle Investment Management Group (PNI.AU)

    • India:

      • Earnings:

        • Titan (500114.IN), Abbott India (500488.IN), Adani Enterprises (512599.IN), Adani Ports & Special Economic Zone (532921.IN), Bata India (500043.IN), Indian Hotels (500850.IN), Mphasis (526299.IN), Tube Investments of India (540762.IN)

    • Indonesia:

      • Economic:

        • 11:00 SAST: CPI NSA Y/Y; consensus +2.5%

    • Singapore:

      • Earnings:

        • Keppel (BN4.SP), ESR-LOGOS REIT (J91U.SP), Singapore Exchange (S68.SP), CapitaLand Ascendas REIT (A17U.SP), Frasers Hospitality Trust (ACV.SP), Parkway Life REIT (C2PU.SP), Digital Core REIT (DCRU.SP), Lendlease Global Commercial REIT (JYEU.SP)

    • Taiwan:

      • Earnings:

        • ASE Technology Holding (3711.TT)

  • Market Data:

    • Gold (Apr 24): ($9.10) or (0.44%) to $2058.30

    • WTI Crude (Mar 24): +$0.15 or +0.20% to $76.00

    • $-¥: (0.80) or (0.54%) to 146.7900

    • $-KRW: +4.87 or +0.37% to 1333.7500

    • A$-$: (0.00) or (0.53%) to 0.6568

    • $-INR: (0.03) or (0.03%) to 83.1331

    • $-CNY: (0.06) or (0.84%) to 7.0995

  • 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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