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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.94%, Hang Seng Futures +0.74%, ASX SPI 200 +1.05%, S&P Futures +0.31%

Mar 20 ,2024

  • Synopsis:

    • Asian markets set for a positive start Thursday. Nikkei futures signaling rally as Japan resumes trade following Wednesday public holiday. Futures also indicating gains in Hong Kong. ASX pushing higher in initial trade. S&P 500 futures advancing further afterhours. Bond markets taking cues from overnight Treasury curve bull steepening. New Zealand yields seeing heavier falls following GDP. Dollar extending losses amid dovish Fed takeaways, kiwi recouped initial loss on GDP miss. Gold rallying past record high following Fed. Bitcoin reversing earlier weakness. Crude also coming off lows.

    • Dovish takeaways from updated Fed dot plot, which retained December's median projection for three rate cuts in 2024 (against risk of hawkish shift). However, one official moved forecast to one dot (meaning now only one more revision could tip median to two). Additionally, 2025 and 2026 median lowered to three rate cuts from four previously. Chair Powell said Jan/Feb CPI prints didn't add to policymaker confidence on inflation, though reiterated first rate cut still likely "at some point this year."

    • Another busy day of central bank meetings. BOE expected to leave rates unchanged though easing odds firmed following sharper-than-expected fall in UK inflation. SNB expected to hold as swaps price in ~40% of surprise cut. Norges Bank expected to hold with attention centering on messaging around policy restrictiveness. Debate continues over BOJ rate outlook with Nikkei discussing risk of follow-up hike in July or October amid yen weakness and potential inflation acceleration.

    • New Zealand Q4 GDP unexpectedly shrank, confirming technical recession following Q3's contraction. Australian employment takes on added importance following Governor Bullock's emphasis this week, data expected to show rebound in headline jobs and fall in unemployment rate. Japan trade data also on tap following recent expansion of export growth driven by autos and chipmaking equipment. Reuters Tankan showed Japan manufacturer sentiment rebounded to three-month high.

  • Pre-open Company News:

    • 683.HK -- Kerry Properties reports FY net income attributable HK$3.24B vs FactSet HK$3.45B [7 est, HK$2.95-4.17B]

    • 2126.HK -- JW (Cayman) Therapeutics reports FY adjusted net income (CNY514.5M) vs year-ago (CNY605.1M)

    • Macau visitor arrivals +106.7% y/y to 3.29M in February

    • 1098.HK -- Road King Infrastructure reports FY net income attributable (HK$3.96B) vs guidance (HK$3.9-4.2B)

    • 2096.HK -- Simcere Pharmaceutical Group reports FY net income attributable CNY714.8M vs guidance CNY685-745M; FactSet CNY707.8M [4 est, CNY688.9-730M]

    • 1024.HK -- Kuaishou Technology reports Q4 adjusted net income CNY4.36B vs StreetAccount CNY3.40B

    • ^ASIAREADS -- StreetAccount Asia Reads

    • 836.HK -- China Resources Power Holdings reports February net generation 13.7M MWh, (12.6%) y/y

    • VFS -- VinFast Auto signed cooperation agreement with Guam AutoSpot

    • 1101.TT -- Taiwan Cement declares FY dividend NT$1/share; special dividend NT$1.76362329/share

    • 000408.CH -- Zangge Mining reports FY net income attributable CNY3.42B vs FactSet CNY4.21B [2 est, CNY3.84-4.58B]

    • 1530.HK -- 3SBio Inc reports FY adjusted net income attributable CNY1.95B vs FactSet CNY2.06B [3 est, CNY1.84-2.29B]

    • 2768.HK -- Jiayuan International Group secures HK$100.0M loan to fund proposed restructuring

    • 780.HK -- Tongcheng-Elong Holdings upgraded to outperform from neutral at Haitong

    • 010130.KS -- Korea Zinc Co. co-CEO Choi Yun-Beom steps down, effective immediately

  • On Deck:

    • China:

      • Earnings:

        • Beijing Kingsoft Office Software (688111.CH)

    • Hong Kong:

      • Earnings:

        • CK Hutchison Holdings (1.HK), Stella International Holdings (1836.HK), C&D International Investment Group (1908.HK), AAC Technologies Holdings (2018.HK), China Power International Development (2380.HK), Shui On Land (272.HK), Orient Overseas (International) (316.HK), VSTECS Holdings (856.HK), CNOOC (883.HK), China CITIC Bank (998.HK), Hengan International Group (1044.HK), CK Asset Holdings (1113.HK), Poly Property Group (119.HK), Henderson Land Development (12.HK), Cowell e Holdings (1415.HK), Ocumension Therapeutics (1477.HK), ESR Group (1821.HK), Maoyan Entertainment (1896.HK), Shanghai Chicmax Cosmetics (2145.HK), Ping An Insurance (Group) Co. of China (2318.HK), Comba Telecom Systems Holdings (2342.HK), Shanghai Henlius Biotech (2696.HK), Perennial Energy Holdings (2798.HK), China State Construction International Holdings (3311.HK), SOHO China (410.HK), China Traditional Chinese Medicine Holdings (570.HK), SY Holdings Group (6069.HK), BOE Varitronix (710.HK), Value Partners Group (806.HK), Sun Hung Kai & Co. (86.HK), Sinopec Kantons Holdings (934.HK), Yeahka (9923.HK), ClouDr (9955.HK), Greentown Management Holdings (9979.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Export NSA Y/Y (Preliminary); consensus +3.5%

        • 08:50 JST: Import NSA Y/Y (Preliminary); consensus +0.6%

        • 08:50 JST: Trade Balance NSA (Preliminary); consensus (¥0.09T)

      • Earnings:

        • TSURUHA Holdings (3391.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Unemployment Rate; consensus 4.0%

        • 11:30 AEST: Employment SA; consensus +35K

  • Market Data:

    • Gold (Apr 24): +$44.40 or +2.05% to $2205.40

    • WTI Crude (Apr 24): $0.00 or 0.00% to $81.68

    • $-¥: (0.09) or (0.06%) to 150.7810

    • $-KRW: (7.91) or (0.59%) to 1329.5700

    • A$-$: +0.01 or +0.89% to 0.6591

    • $-INR: +0.09 or +0.11% to 83.1196

    • $-CNY: (0.00) or (0.02%) to 7.1978

  • 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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