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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.23%, Hang Seng Futures +0.29%, ASX SPI 200 +0.46%, S&P Futures +0.07%

Apr 08 ,2024

  • Synopsis:

    • Asian markets set for positive start to Tuesday trade. Nikkei, Hang Seng and ASX futures all pointing to gains on the open. S&P 500 futures flat after US benchmarks ended little changed in a quiet Monday session. Bond markets quiet with Australian yields down 1-2 bp and New Zealand rates flat. Comes after Treasuries weakened overnight with the curve flattening. Dollar narrowly mixed on major crosses. Gold flat after touching fresh record high. Crude steady after coming off session lows. Bitcoin staged another rally, nearing mid-March record high.

    • Bond yield backup continues in the wake of Friday's hotter-than-expected US payrolls data, which reinforced narrative around strong US growth. US CPI on Wednesday to test disinflation narrative, coming after recent prints surprised higher and ISM manufacturing showed pickup in input cost pressures. Fed officials still expect rate cuts in 2024 though conviction has waned somewhat. Markets pricing in around three rate cuts in 2024, in-line with Fed's median.

    • Closely watched New Zealand quarterly business survey showed marked deterioration in firms' business confidence and trading activity. Data underlines broader economic deterioration after New Zealand unexpectedly entered recession in late 2023, fueling debate around whether RBNZ will signal a less restrictive policy stance at Wednesday's meeting. Economists currently expect no change to policy settings and repeat that rates will need to remain restrictive for a while yet.

  • Pre-open Company News:

    • 754.HK -- Hopson Development reports March property contracted sales CNY1.87B; StreetAccount notes year-ago figure was CNY6.47B

    • 543237.IN -- Mazagon Dock Shipbuilders reports preliminary FY revenue INR94.00B vs year-ago INR78.27B

    • 603885.CH -- Juneyao Airlines reports FY net income attributable CNY751.3M vs FactSet CNY838.1M [7 est, CNY744-1.03B] and guidance CNY680.0-880.0M

    • SAWAD.TB -- Srisawad Corp. Public downgraded to underperform from outperform at CLSA

    • 600837.CH -- Haitong Securities downgraded to neutral from buy at UBS

    • 541153.IN -- Bandhan Bank downgraded to neutral from buy at Goldman Sachs

    • 601965.CH -- China Automotive Engineering Research Institute chairman Wan Xinming resigns, effective immediately

    • 2327.TT -- Yageo reports March revenue NT$10.02B, +11.3% y/y

    • 4901.JP -- FUJIFILM initiated neutral at UBS

    • ^ASIAREADS -- StreetAccount Asia Reads

    • 3382.JP -- StreetAccount Consensus Metrics Preview - Seven & i Q4 Earnings

    • 600236.CH -- Guangxi Guiguan Electric Power reports Q1 power generation 7.11B kWh, (1.2%) y/y

    • 601006.CH -- Daqin Railway reports March Daqin Line cargo transportation 36.0MT; StreetAccount notes year-ago 37.0MT

    • +VIIV -- ViiV Healthcare announces U.S. FDA approval of Dovato (dolutegravir/lamivudine) for adolescents living with HIV

    • 2238.HK -- Guangzhou Automobile Group reports March vehicle production 161K vs year-ago 260K

  • On Deck:

    • China:

      • Earnings:

        • SUPCON Technology (688777.CH), SUPCON Technology (688777.CH)

    • Japan:

      • Earnings:

        • Izumi Co. (8273.JP), AEON Financial Service (8570.JP), U-NEXT HOLDINGS Co. (9418.JP), AEON DELIGHT (9787.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: NAB Business Confidence; consensus

    • Taiwan:

      • Economic:

        • 16:00 TST: CPI NSA Y/Y; consensus +2.5%

  • Market Data:

    • Gold (Jun 24): +$7.40 or +0.31% to $2358.40

    • WTI Crude (May 24): +$0.22 or +0.25% to $86.65

    • $-¥: +0.23 or +0.15% to 151.8290

    • $-KRW: +0.33 or +0.02% to 1351.6000

    • A$-$: +0.00 or +0.40% to 0.6605

    • $-INR: (0.05) or (0.06%) to 83.2683

    • $-CNY: (0.00) or (0.04%) to 7.2297

  • 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".

DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
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