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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.72%, Hang Seng Futures (0.65%), ASX SPI 200 (0.37%), S&P Futures +0.03%

Apr 11 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Friday trade. Nikkei futures pointing to opening gains in Japan while Hang Seng and ASX futures lower. S&P 500 futures flat after US indexes rebounded from Wednesday's sell-off. Bond markets remain under pressure with Australian and New Zealand curves bear steepening. Dollar index little changed as yen extended declines. Gold rose to another record high. Crude pulled back following recent strength on Middle East tensions. Bitcoin a touch lower.

    • Markets found some reprieve from cooler-than-expected US PPI, taking some of the edge off Wednesday's hot CPI data that drove meaningful hawkish repricing of Fed rate path. Also thoughts PPI data dampens PCE upside risk. Post-CPI Fedspeak leaning hawkish with officials pushing patience mantra. Markets now pricing in less than two Fed rate cuts in 2024 while multiple economists have since pushed out expected timing of first rate cut.

    • China trade data forecast to show exports returned to contraction in March following stronger-than-expected shipment growth in Jan-Feb. Some thought figures likely to be distorted by unusually high base year effects (Mar-2023 export growth later revised down). Export orders also turned positive for first time in a year last month as manufacturing activity returned to growth. Import growth forecast to have slowed from Jan-Feb. Credit data also on tap, forecast to show rebound in new loan growth.

  • Pre-open Company News:

    • 3045.TT -- Taiwan Mobile to invest NT$1.1B for up to 10% stake in Fubon Energy

    • 6869.HK -- Yangtze Optical Fibre & Cable Joint Stock completes previously announced acquisition of RFS Germany and RFS Suzhou

    • 558.SP -- UMS Holdings releases sustainability report 2023

    • 1114.HK -- Brilliance China Automotive Holdings appoints Zhang Yue as new CEO, effective today

    • AU8U.SP -- CapitaLand China Trust releases 2023 sustainability report

    • 600570.CH -- Hundsun Technologies corrects buyback completion notice; bought back 5.9M shares at average price CNY25.58/sh

    • 532978.IN -- Bajaj Allianz General Insurance reports March gross direct premium INR16.63B

    • 000725.CH -- BOE Technology Group guides Q1 net income attributable CNY800.0M-1.00B vs FactSet CNY1.14B [1 est]

    • 539448.IN -- InterGlobe Aviation downgraded to hold from buy at Investec

    • 688063.CH -- Pylon Technologies reports FY net income attributable CNY515.6M vs prelim. CNY545.9M; FactSet CNY611.2M [7 est, CNY546-955.8M]

    • 600674.CH -- Sichuan Chuantou Energy reports Q1 electricity generation 784M kWh, +10.6% y/y

    • 688005.CH -- Ningbo Ronbay New Energy Technology reports FY net income attributable CNY580.9M vs prelim. CNY593.1M; FactSet CNY714.1M [8 est, CNY590-936M]

    • 2317.TT -- Hon Hai Precision Industry acquires 42% stake in JUSDA International Supply Chain Management for CNY3.86B (NT$17.22B)

    • 603806.CH -- Hangzhou First Applied Material reports FY net income attributable CNY1.85B vs FactSet CNY2.03B [7 est, CNY1.83-2.19B]

    • 300979.CH -- Huali Industrial Group confirms FY preliminary results, as reported on 14-Mar

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Import Y/Y; consensus +1%

        • 08:00 CST: Trade Balance NSA; consensus +$64.9B

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: Loan Growth Y/Y; consensus

        • 08:00 CST: M2 NSA Y/Y; consensus

        • 08:00 CST: Export Y/Y; consensus +0.1%

        • 08:00 CST: Foreign Direct Investment Y/Y; consensus

      • Earnings:

        • Amlogic (Shanghai) (688099.CH)

    • Japan:

      • Economic:

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

      • Earnings:

        • COSMOS Pharmaceutical (3349.JP), Money Forward (3994.JP), BayCurrent Consulting (6532.JP), Takashimaya Co. (8233.JP), West Holdings (1407.JP), Pasona Group (2168.JP), DIP Corp (2379.JP), Takeuchi Mfg. Co. (6432.JP), Ryohin Keikaku (7453.JP), IDOM Inc (7599.JP)

    • South Korea:

      • Economic:

        • 08:00 KST: Unemployment Rate; consensus 3%

        • 11:10 KST: BoK Repo Rate; consensus +3.5%

    • Singapore:

      • Economic:

        • 08:00 SST: GDP NSA Y/Y (Preliminary); consensus +3.2%

  • Market Data:

    • Gold (Jun 24): +$21.00 or +0.89% to $2393.70

    • WTI Crude (May 24): +$0.49 or +0.58% to $85.51

    • $-¥: +0.05 or +0.03% to 153.2200

    • $-KRW: +3.59 or +0.26% to 1367.6200

    • A$-$: +0.00 or +0.40% to 0.6540

    • $-INR: (0.07) or (0.09%) to 83.3493

    • $-CNY: +0.00 or +0.03% to 7.2359

  • 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:
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