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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.14%, Hang Seng Futures +0.11%, ASX SPI 200 +0.83%, S&P Futures +0.04%

Feb 15 ,2024

  • Synopsis:

    • Asian markets set for positive start to Friday trade. Nikkei futures pointing to solid opening gains. ASX higher in initial trade. Hang Seng futures little changed. Nasdaq futures extending gains afterhours. Australian yield curve bear steepening after Treasuries firmed overnight. FX markets steady with dollar erasing most of its post-CPI advance. Crude recouped prior session's decline. Gold drifted up from lows. Bitcoin holding just below Dec-2021 high.

    • US January PPI forecast to show monthly rebound in headline and core print. Comes as hotter-than-expected US CPI print continues to be downplayed with takeaways pointing to one-off price increases and ensuing Fedspeak that has leaned dovish. While markets are now pricing in ~90 bp of easing in 2024 (vs ~110 at start of the week), disinflation narrative and Fed pivot timing remains largely intact, supporting risk sentiment.

    • Heightened focus on AI after TMSC rallied to all-time high on Thursday to become world's 12th largest company in the world. Group's January sales update touted as a catalyst as analysts upgraded price target, citing foundry business' strategic positioning within AI semiconductor supply chain. Lot of attention on AI mentions in earnings calls with analysts pointing out companies seeing pickup in demand for AI related products and services.

    • Speaking earlier RBNZ Governor Orr said economy moving in right direction, but more work needed to anchor inflation at 2%. Stressed focus is on core inflation, which was running at 4.5% in Q4 and well above 1-3% target range. Persistent domestic inflation pressures have prompted hawkish expectations for 28-Feb meeting with some economists calling 25 bp rate hike and others maintaining hold calls but predicting retention of tightening bias.

  • Pre-open Company News:

    • 7911.JP -- Quick Take - TOPPAN Holdings Q3/9M Earnings

    • 4904.TT -- Far EasTone Telecommunications reports January revenue NT$8.94B, +14.5% y/y

    • 551.HK -- Yue Yuen Industrial (Holdings) reports January revenue $736.5M, (9.1%) y/y

    • 2609.TT -- Yang Ming Marine Transport reports January revenue NT$14.00B, +10.1% y/y

    • C6L.SP -- Singapore Airlines reports January traffic +14.4% y/y

    • 532234.IN -- National Aluminium downgraded to reduce from buy at Avendus Spark

    • 3045.TT -- Taiwan Mobile reports January EPS NT$0.35; StreetAccount notes year-ago figure was NT$0.30

    • 2912.TT -- President Chain Store reports January revenue NT$27.89B, +4.8% y/y

    • BHK.SP -- SIIC Environment Holdings CFO Tang Congliang resigns, effective immediately

    • S59.SP -- SIA Engineering reports Q3 net income SG$26.9M vs year-ago SG$12.8M

    • 1101.TT -- Taiwan Cement reports January revenue NT$7.24B, (1.2%) y/y

    • 1402.TT -- Far Eastern New Century reports January revenue NT$23.07B, +21.8% y/y

    • 5CP.SP -- Silverlake Axis reports H1 net income attributable MYR88.6M vs year-ago MYR99.3M

    • 2412.TT -- Chunghwa Telecom reports January revenue NT$17.93B; StreetAccount notes year-ago NT$17.76B

    • 2048.HK -- E-House (China) Enterprise files for chapter 15 bankruptcy protection

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Foreign Direct Investment Y/Y; consensus

    • Hong Kong:

      • Earnings:

        • Sands China (1928.HK)

    • Japan:

      • Earnings:

        • Bridgestone (5108.JP), The Yokohama Rubber Co. (5101.JP)

    • Australia:

      • Earnings:

        • Centuria Office REIT (COF.AU), Cochlear (COH.AU)

    • India:

      • Earnings:

        • CRISIL (500092.IN), Schaeffler India (505790.IN)

    • Malaysia:

      • Economic:

        • 23:00 EST: GDP NSA Y/Y; consensus +3.4%

        • 23:00 EST: Current Account; consensus +MYR8.6B

  • Market Data:

    • Gold (Apr 24): +$1.00 or +0.05% to $2015.90

    • WTI Crude (Mar 24): +$0.09 or +0.12% to $78.12

    • $-¥: (0.70) or (0.46%) to 149.8990

    • $-KRW: (5.38) or (0.40%) to 1324.6900

    • A$-$: +0.00 or +0.52% to 0.6526

    • $-INR: (0.03) or (0.04%) to 83.0090

    • $-CNY: (0.01) or (0.20%) to 7.1639

  • 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".

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