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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.23%), Hang Seng Futures (0.47%), ASX SPI 200 (0.08%), S&P Futures (0.10%)

Mar 18 ,2024

  • Synopsis:

    • Asian markets set for positive start to Tuesday trade. Nikkei and Hang Seng futures signaling declines on the open. ASX flat in initial trade. US contracts a touch lower afterhours. Australian yield curve steepening ahead of RBA. Comes after Treasuries weakened further overnight amid the hawkish rate repricing. Yen fluctuating in narrow range before BOJ meeting. Crude flat after rallying to highest since early Nov-2023. Gold unchanged. Bitcoin range-bound.

    • BOJ expected to end large-scale easing measures today with central bank scrapping NIRP, YCC, ETF ad J-REIT purchases. Nikkei top story added JGB purchases to continue "at a certain level" after separate reports highlighted JPY6T monthly pace. Meeting has been de-risked to an extent, though there remains uncertainty around policy path beyond March with attention on Governor Ueda's press conference (recall Ueda previously said financial conditions to remain accommodative).

    • RBA expected leave cash rate unchanged at 4.35% today. Sell-side previews anticipate uneventful policy statement with RBA retaining slight tightening bias in noting that further rate hikes cannot be ruled out. RBA expected to acknowledge signs of cooling growth but maintain priority is to return inflation to target amid sticky inflation concerns. Futures pricing in first RBA rate cut in November, later than August/September cut being priced in last week.

    • Afterhours focus was on NVDA GTC with company unveiling more powerful successor lineup to H100 AI accelerator chips. Event was widely anticipated with NVDA down ~2% afterhours. AI secular growth theme a focus overnight following reports AAPL in talks with GOOGL for Gemini to power AI features of new iPhones. Analysts also highlighting expectations for AI tailwind to broaden beyond tech.

  • Pre-open Company News:

    • 772.HK -- China Literature reports FY non-IFRS profit attributable CNY1.13B vs StreetAccount CNY1.10B

    • 1357.HK -- Meitu Inc upgraded to buy at Huaan Securities (timing uncertain)

    • 600309.CH -- Wanhua Chemical Group confirms FY preliminary results; FY dividend CNY1.625/share vs year-ago CNY1.6/share

    • 600732.CH -- Shanghai Aiko Solar Energy to invest CNY10B for 25GW high-efficiency crystalline silicon solar cell project

    • 291.HK -- China Resources Beer (Holdings) changes board lot size to 500 shares from 2000 shares, effective 11-April

    • 500425.IN -- Ambuja Cements responds to reports of US probing Adani Group and Gautam Adani for potential bribery

    • D01.SP -- DFI Retail Group Holdings downgraded to hold from buy at HSBC

    • 4151.JP -- Orchard Therapeutics issues press release on FDA Approval of Lenmeldy; expects to provide more details on US launch this week

    • PTGX -- Protagonist Therapeutics announces closing of worldwide rusfertide license and collaboration agreement with Takeda

    • 001979.CH -- China Merchants Shekou Industrial Zone Holdings reports FY net income attributable CNY6.32B vs FactSet CNY6.22B [20 est, CNY2.33-8.63B]

    • 600309.CH -- Wanhua Chemical Group reports FY production: Polyurethane production 5.0Mt; revenue CNY67.39B

    • 533096.IN -- Adani Power responds to reports of US probing Adani Group and Gautam Adani for potential bribery

  • On Deck:

    • Hong Kong:

      • Earnings:

        • Towngas Smart Energy (1083.HK), Ping An Healthcare & Technology (1833.HK), Tongcheng-Elong Holdings (780.HK), Huaneng Power International (902.HK), Anhui Conch Cement (914.HK), China Resources Medical Holdings (1515.HK), Minsheng Education Group (1569.HK), Yadea Group Holdings (1585.HK), COFCO Joycome Foods (1610.HK), China Aircraft Leasing Group Holdings (1848.HK), ZTO Express (2057.HK), Li Ning (2331.HK), HK Electric Investments & HK Electric Investments (2638.HK), Sipai Health Technology (314.HK), PAX Global Technology (327.HK), China Foods (506.HK), Grand Pharmaceutical Group (512.HK), China Conch Environment Protection Holdings (587.HK), Angelalign Technology (6699.HK), China Unicom (Hong Kong) (762.HK), CK Life Sciences International (Holdings) (775.HK), Ming Yuan Cloud Group Holdings (909.HK)

    • Japan:

      • Economic:

        • 12:00 JST (tentative): BOJ policy statement, press conference

        • 13:30 JST: Industrial Production SA M/M (Final); consensus (7.5%)

      • Earnings:

        • Oracle Corp Japan (4716.JP)

    • Australia:

      • Economic:

        • 14:30 AEDT: RBA Official Cash Rate; consensus +4.35%

      • Earnings:

        • Tuas (TUA.AU)

    • New Zealand:

      • Earnings:

        • Warehouse Group (WHS.NZ)

  • Market Data:

    • Gold (Apr 24): +$0.10 or +0.00% to $2164.40

    • WTI Crude (Apr 24): +$0.01 or +0.01% to $82.73

    • $-¥: +0.07 or +0.04% to 149.1270

    • $-KRW: +3.75 or +0.28% to 1334.6900

    • A$-$: (0.00) or (0.08%) to 0.6554

    • $-INR: (0.02) or (0.02%) to 82.9079

    • $-CNY: +0.00 or +0.02% to 7.1976

  • 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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