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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.70%, Hang Seng Futures 0.00%, ASX SPI 200 (0.20%), S&P Futures (0.01%)

Feb 11 ,2024

  • Synopsis:

    • Asian markets set for a quiet start to Monday trade. ASX pulling lower in initial trade. China and other markets remain closed for Lunar New Year. Japan shut for National Foundation Day. Australian yield curve bear flattening, coming after Treasury yields rose further on Friday. S&P 500 futures flat after US indexes capped off another weekly rally. Gold and crude lackluster on Friday. Bitcoin strengthened towards highest since Dec-2021.

    • Renewed bond market weakness follows run of strong US macro data and Fedspeak that has been uniformly hawkish with officials continuing to push higher-for-longer messaging. Developments have continued to flatten market-implied rate cut path. Futures now pricing in ~110 bp of rate cuts in 2024, up nearly 40 bp from a week earlier. Markets have largely priced out March rate cut, while economists now see first rate cut occurring in May or June.

    • China January new loans larger than expected though outstanding loan growth fell to record low. Comes after deflation pressures intensified last month with consumer prices falling at fastest pace in more than 14 years. China markets rebounded ahead of Lunar New Year, though attributed mostly to market stabilization efforts and deeply oversold conditions. Absence of comprehensive stimulus remains a key component of the bearish market narrative.

  • Pre-open Company News:

    • 532827.IN -- Page Industries upgraded to add from reduce at IIFL Securities

    • 532321.IN -- Zydus Lifesciences upgraded to add from hold at Incred Equities

    • 543390.IN -- PB Fintech initiated buy at Jefferies

    • 500182.IN -- Hero MotoCorp downgraded to sell from reduce at Axis Capital

    • ^TTNASIA -- China new loans reach record-high:

    • ^TTNASIA -- US CPI headlines economic calendar:

    • 532321.IN -- Zydus Lifesciences assumed buy at JM Financial

    • Estimated weekend box office revenues in US, Canada $37.1M, (29.5%) y/y - Box Office Mojo

  • On Deck:

    • Australia:

      • Earnings:

        • ANZ Group (ANZ.AU), Breville Group (BRG.AU), Charter Hall Social Infrastructure REIT (CQE.AU), CSL (CSL.AU), HealthCo Healthcare & Wellness REIT (HCW.AU), James Hardie Industries (JHX.AU), SEEK (SEK.AU), Seven West Media (SWM.AU), Temple & Webster Group (TPW.AU)

    • India:

      • Earnings:

        • Bharat Forge (500493.IN), GlaxoSmithKline Pharmaceuticals (500660.IN), Coal India (533278.IN), Hindustan Aeronautics (541154.IN), NHPC Ltd (533098.IN), Steel Authority of India (500113.IN), The Phoenix Mills (503100.IN), Mazagon Dock Shipbuilders (543237.IN), Brookfield India Real Estate Trust (543261.IN)

  • Market Data:

    • Gold (Apr 24): +$0.90 or +0.04% to $2039.60

    • WTI Crude (Mar 24): ($0.38) or (0.49%) to $76.46

    • $-¥: (0.19) or (0.13%) to 149.1650

    • $-KRW: (1.01) or (0.08%) to 1330.5200

    • A$-$: +0.00 or +0.01% to 0.6524

    • $-INR: (0.00) or (0.00%) to 83.0131

    • $-CNY: +0.01 or +0.18% to 7.1926

  • 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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