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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.31%, Hang Seng Futures +0.19%, ASX SPI 200 (0.30%), S&P Futures +0.00%

Feb 26 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Tuesday trade. Nikkei futures signaling mild gain on the open while Hang Seng little changed. ASX lower in initial trade. S&P 500 futures flat following quiet offshore session. Australian and New Zealand bonds weaker following Treasury curve bear flattening. Crude rebounded from Friday sell-off. Gold price action remains lackluster. Bitcoin steady after surging to its highest since Dec-2021.

    • Japan nationwide core and core ex-energy inflation fell by less than expected. Core inflation eased to BOJ's 2% target for first time since early 2022 as cost-push pressures continue to wane. Comes as polls continue to show large majority of economists anticipate BOJ scrapping NIRP in April as well as ending YCC. Attention has already shifted to post-exit rate path though senior BOJ policymakers have stressed financial conditions to remain accommodative

    • Treasury yield backup in focus following weak 2Y auction that renewed concerns about supply. Bonds have also been pressured by a winding back of easing expectations with markets now pricing in three Fed rate cuts in 2024, in-line with Fed's median projection from December. Hawkish repricing has occurred against backdrop of resilient macro data, inflation persistence risk and cautious Fed remarks on rate cuts.

  • Pre-open Company News:

    • 600276.CH -- Jiangsu Hengrui Pharmaceuticals initiated buy at Changjiang Securities (timing uncertain)

    • 9968.HK -- Huijing Holdings reports delayed FY22 net income attributable (CNY2.45B) vs year-ago CNY256.1M

    • 600025.CH -- Huaneng Lancang River Hydropower board approves private placement of up to 1.8B shares to raise CNY6B

    • 6127.HK -- JOINN Laboratories downgraded to equal-weight from overweight at Morgan Stanley

    • BHK.SP -- SIIC Environment Holdings reports Q4 net income attributable CNY20.6M vs year-ago CNY209.2M

    • 688169.CH -- Beijing Roborock Technology reports prelim FY net income attributable CNY2.05B vs guidance CNY2.00-2.20B vs FactSet CNY2.04B [26 est, CNY1.80-2.17B]

    • 000069.CH -- Shenzhen Overseas Chinese Town reports Jan contracted sales CNY1.82B, (5%) y/y

    • IBIO -- iBio, Inc. announces sale of preclinical PD-1 agonist antibody program to Otsuka

    • 3008.TT -- LARGAN Precision declares H2 dividend NT$41/share; StreetAccount notes year-ago NT$46/share

    • 543396.IN -- Paytm Payments Bank reconstitutes board; Paytm's Vijay Sharma steps down as chairman of PPBL

    • MZH.SP -- Nanofilm Technologies International reports FY net income attributable SG$3.1M vs year-ago SG$43.8M

    • 4901.JP -- FUJIFILM resumed neutral at Mizuho Securities

    • H02.SP -- Haw Par Corp. reports FY NPAT SG$216.6M vs year-ago SG$148.3M

    • 688472.CH -- CSI Solar to invest in 14GW photovoltaic project in Jiangsu for CNY9.63B

    • 7269.JP -- Suzuki Motor downgraded to neutral from overweight at JPMorgan

  • On Deck:

    • Hong Kong:

      • Earnings:

        • Sunlight Real Estate Investment Trust (435.HK), SUNeVision Holdings (1686.HK), Nine Dragons Paper Holdings (2689.HK), ASMPT (522.HK), NWS Holdings (659.HK)

    • Australia:

      • Earnings:

        • Qoria (QOR.AU), Dicker Data (DDR.AU), Resimac Group (RMC.AU), Perpetual (PPT.AU), Aurelia Metals (AMI.AU), APM Human Services International (APM.AU), Betmakers Technology Group (BET.AU), Enero Group (EGG.AU), Flight Centre (FLT.AU), Fleetwood (FWD.AU), Steadfast Group (SDF.AU)

    • New Zealand:

      • Earnings:

        • Meridian Energy (MEL.NZ), Spark New Zealand (SPK.NZ)

    • Singapore:

      • Earnings:

        • Bumitama Agri (P8Z.SP), The Straits Trading (S20.SP), CapitaLand Investment (9CI.SP), City Developments (C09.SP), China Everbright Water (U9E.SP), CSE Global (544.SP), EC World Real Estate Investment Trust (BWCU.SP), Frencken Group (E28.SP), Delfi (P34.SP), SBS Transit (S61.SP), UOL Group (U14.SP)

  • Market Data:

    • Gold (Apr 24): +$1.70 or +0.08% to $2040.60

    • WTI Crude (Apr 24): +$0.05 or +0.06% to $77.63

    • $-¥: +0.03 or +0.02% to 150.5400

    • $-KRW: +0.04 or +0.00% to 1331.0300

    • A$-$: (0.00) or (0.34%) to 0.6539

    • $-INR: (0.01) or (0.01%) to 82.8768

    • $-CNY: +0.00 or +0.01% to 7.1963

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