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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.54%, Hang Seng Futures +0.52%, ASX SPI 200 +0.87%, S&P Futures +0.50%

Feb 01 ,2024

  • Synopsis:

    • Asian markets set for positive start to Friday trade. Futures signaling opening gains in Japan and Hong Kong. ASX building momentum in initial trade.US contracts advancing afterhours on tech earnings. Australian bonds strengthening, tracking earlier Treasury curve flattening. FX markets steady after dollar retreated to bottom of recent range. Crude fell back to late January lows amid Middle East headline volatility. Gold little changed.

    • Markets digesting US tech earnings after the bell. META +14% after announcing maiden dividend and additional buyback, as earnings comfortably topped expectations following efficiency drive. AMZN +7% with operating income above expectation and cloud division finding traction amid AI-related demand. AAPL (3%) with revenue topping forecasts but China sales disappointing amid weak consumer spending.

    • US nonfarm payrolls expected to show further drop in headline employment growth, increase in unemployment rate and downtick in average hourly earnings growth, consistent with cooling labor market. While Fed Chair Powell's press conference led economists to push back expected timing of first rate cut to May/June, he also downplayed need to see cooling labor market for disinflation trend to continue. Market still pricing in year-end funds rate of ~4% (vs current 5.25-5.50%).

    • Indian interim budget takeaways highlighted slower growth in infrastructure investment and lack of major stimulus as government opted for fiscal restraint. There had been some thought of a more expansionary budget ahead of April election, though government forecast reduced debt and deficit for 2024/25. Budget seen as a positive in terms of India's credit rating ahead of bond inclusion in MSCI indexes. Also view that fiscal restraint gives scope for RBI to commence easing later this year.

  • Pre-open Company News:

    • 6981.JP -- StreetAccount Consensus Metrics Preview - Murata Manufacturing Q3 Earnings

    • Spain Jan new passenger car registrations 68,685 units, +7.3% y/y - ANFAC

    • Italy Jan new passenger car registrations 141,946 units, +10.6% y/y -- UNRAE

    • 532424.IN -- Quick Take - Godrej Consumer Products Q3 Earnings

    • 2696.HK -- Shanghai Henlius Biotech completes phase I clinical trial of HLX14; all pre-specified endpoints are met

    • YES Securities downgrades 500410.IN, 500425.IN

    • 9868.HK -- XPeng delivers 8,250 vehicles in January, +58% y/y

    • 175.HK -- Geely Automobile Holdings reports January sales volume 213,487 units, +110 y/y

    • 300454.CH -- Sangfor Technologies launches CNY100-200M buyback programme at up-to CNY100/share

    • 540691.IN -- Aditya Birla Capital reports Q3 consolidated EPS INR2.81 vs year-ago INR13.49

    • 500410.IN -- ACC Ltd downgraded to reduce from buy at Centrum Broking

    • 532286.IN -- Jindal Steel & Power Managing Director Bimlendra Jha resigns, effective 31-Jan

    • 532134.IN -- Bank of Baroda upgraded to add from reduce at IIFL Securities

    • 524715.IN -- Sun Pharmaceutical Industries downgraded to hold from add at ICICI Securities

    • 300888.CH -- Winner Medical initiated buy at Northeast Securities (timing uncertain)

  • On Deck:

    • Japan:

      • Earnings:

        • Sojitz (2768.JP), Isetan Mitsukoshi Holdings (3099.JP), Toyota Industries (6201.JP), NTN Corp (6472.JP), Minebea Mitsumi (6479.JP), Seiko Epson (6724.JP), Nihon Kohden (6849.JP), Murata Manufacturing (6981.JP), Aisin Corp. (7259.JP), Mitsui & Co. (8031.JP), Mizuho Financial (8411.JP), Japan Airlines Co. (9201.JP), KDDI Corp (9433.JP), MonotaRO (3064.JP), TIS Inc. (3626.JP), Nippon Sanso Holdings (4091.JP), Fujimi (5384.JP), NSK Ltd (6471.JP), JTEKT Corp (6473.JP), Panasonic (6752.JP), KEYENCE (6861.JP), DENSO Corp (6902.JP), Net One Systems (7518.JP), Marubeni (8002.JP), Toyota Tsusho (8015.JP), The Chiba Bank (8331.JP), Kawasaki Kisen Kaisha (9107.JP)

    • South Korea:

      • Economic:

        • 08:00 KST: CPI M/M; consensus +0.6%

        • 08:00 KST: CPI NSA Y/Y; consensus +3%

      • Earnings:

        • NAVER (035420.KS), Hanmi Pharmaceutical Co. (128940.KS), Sk Ie Technology Co. (361610.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: Housing Finance SA M/M; consensus

    • India:

      • Earnings:

        • Whirlpool of India (500238.IN), Torrent Pharmaceuticals (500420.IN), InterGlobe Aviation (539448.IN), Devyani International (543330.IN), LIC Housing Finance (500253.IN), Bank of India (532149.IN), Embassy Office Parks REIT (542602.IN), Delhivery (543529.IN)

    • Singapore:

      • Earnings:

        • Frasers Property (TQ5.SP)

  • Market Data:

    • Gold (Apr 24): +$1.80 or +0.09% to $2072.90

    • WTI Crude (Mar 24): +$0.38 or +0.51% to $74.20

    • $-¥: (0.42) or (0.29%) to 146.5040

    • $-KRW: (7.85) or (0.59%) to 1326.7800

    • A$-$: +0.00 or +0.09% to 0.6572

    • $-INR: (0.17) or (0.20%) to 82.9408

    • $-CNY: +0.05 or +0.74% to 7.1522

  • 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:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
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NO BANK, STATE OR FEDERAL AGENCY GUARANTEE