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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.91%), Hang Seng Futures +0.54%, ASX SPI 200 +0.18%, S&P Futures +0.23%

Mar 11 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Tuesday trade. Nikkei futures pointing to more losses on the open. Hang Seng futures signaling extension of Monday's gains. ASX up marginally in initial trade. US contracts gaining afterhours. Australian and New Zealand curves steepening after Treasury yields rose overnight. Dollar index off lows with yen stabilizing near early February highs. Bitcoin rallied past $70K to new record high. Gold and crude little changed.

    • US CPI forecast to show monthly pickup in headline inflation, driven in part by energy prices. Core inflation forecast to have eased though attention will be on sticky components (housing, auto insurance). With markets back to pricing in four Fed rate cuts in 2024, some concerns hotter-than-expected print may drive another hawkish repricing. S&P 500 options positioning also points to swings in either direction following the data.

    • China inflation takeaways viewed February rebound in consumer prices as temporary given outsized influence of LNY effects. China's deepening property market downturn, local government debt overhang and anemic aggregate demand among the primary drivers of deflation. Additionally, policy support pledges at NPC viewed as inadequate to revive price growth with some economists arguing need for fiscal measures aimed directly at stimulating consumption.

    • BOJ tightening speculation (and pickup in Fed rate cut bets) reverberating across markets with Japan equities on Monday experiencing largest drop since October, JGB 2Y yield hitting 13-year high and yen building on recent appreciation. Attention moves to first results from 'shunto' wage talks on Friday, which may further bolster expectations of a NIRP exit as soon as next week's BOJ meeting.

  • Pre-open Company News:

    • 1402.TT -- Far Eastern New Century reports February revenue NT$19.49B, (1.1%) y/y

    • 532343.IN -- TVS Motor declares interim dividend INR8/share; record 19-Mar

    • 2020.HK -- ANTA Sports Products initiated strong recommend at Ping An Securities (timing uncertain)

    • 600346.CH -- Hengli Petrochemical controlling holder proposes distributing FY23 dividend of 50% or more of net income attributable

    • 337.HK -- Greenland Hong Kong Holdings reports Jan-Feb contracted sales CNY1.31B; StreetAccount notes year-ago figure CNY2.23B

    • 688472.CH -- CSI Solar initiated underperform at Daiwa

    • 4523.JP -- Quick Take: Eisai investor information meeting

    • HSAI -- Hesai Group reports Q4 non-GAAP EPS (CNY0.79) vs FactSet (CNY0.80) [1 est]

    • 2607.HK -- NMPA approves Shanghai Pharmaceuticals Holding's I040 study for clinical trial

    • General Insurance Council reports February non-life gross premium INR223.78B vs year-ago INR198.74B

    • 551.HK -- Yue Yuen Industrial (Holdings) reports February revenue $606.0M, +0.4% y/y

    • 1530.HK -- 3SBio Inc initiated recommend at Minsheng Securities (timing uncertain)

    • 532155.IN -- Quick Take - GAIL (India) Vijaipur plant site visit

    • 603868.CH -- Shanghai Flyco Electrical Appliance reports FY net income attributable CNY1.02B, +24% vs year-ago CNY823.0M

    • 128940.KS -- Hanmi Pharmaceutical Co. proposes year-end dividend KRW500/share, unchanged y/y

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: New Yuan Loans; consensus

    • Hong Kong:

      • Earnings:

        • FIT Hon Teng (6088.HK), MINISO Group Holding (9896.HK), Qifu Technology. (3660.HK), The Wharf (Holdings) (4.HK), Gemdale Properties & Investment (535.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Domestic CGPI NSA Y/Y; consensus

      • Earnings:

        • Mitsui High-tec (6966.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: NAB Business Confidence; consensus

    • Philippines:

      • Earnings:

        • ACEN Corp. (ACEN.PM)

  • Market Data:

    • Gold (Apr 24): ($0.30) or (0.01%) to $2188.30

    • WTI Crude (Apr 24): +$0.16 or +0.21% to $78.09

    • $-¥: (0.31) or (0.21%) to 146.7580

    • $-KRW: (9.08) or (0.69%) to 1308.1500

    • A$-$: (0.00) or (0.24%) to 0.6610

    • $-INR: +0.07 or +0.09% to 82.8252

    • $-CNY: (0.00) or (0.03%) to 7.1841

  • 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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