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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.84%, Hang Seng Futures +0.99%, ASX SPI 200 +0.25%, S&P Futures (0.03%)

Apr 22 ,2024

  • Synopsis:

    • Asian markets set for a positive start to Tuesday trade. Futures pointing to opening gains in Japan, Hong Kong and Australia. S&P 500 futures steady following tech-and small-cap led bounce Monday. Australian and New Zealand bonds rebounding after Treasuries were mixed with curve steepening. Dollar index range bound with yen hovering at 34-year low. Gold nursing heavy loss. Crude little changed. Bitcoin building on overnight gains.

    • Monday bounce put down more to technicals than a positive shift in fundamentals. Rate stabilization, lack of further escalation of Middle East tensions, better 2H April seasonality and lower bar for big US tech earnings also flagged as supportive. Higher-for-longer Fed, rate backup/hawkish repricing and inflation stickiness remain the most widely cited headwinds while geopolitics also keeping markets on edge.

    • Quiet from a newsflow and economic data perspective (flash PMIs out today). Markets awaiting potential catalysts from US economic and corporate calendar, including core PCE index Friday. US earnings season ramps up with big tech headlining this week's reporters. BOJ meets Friday with yen mentions likely to attract attention. Australian Q1 CPI on Wednesday may have implications for RBA's policy bias at next month's meeting.

  • Pre-open Company News:

    • 500696.IN -- StreetAccount Consensus Metrics Preview - Hindustan Unilever Q4 Earnings

    • 500180.IN -- HDFC Bank downgraded to hold from buy at B & K Securities

    • 605499.CH -- Eastroc Beverage (Group) reports Q1 net income attributable CNY663.9M vs FactSet CNY606.5M [1 est]

    • 2899.HK -- Zijin Mining Group reports Q1 net income attributable CNY6.26B, +15% vs year-ago CNY5.44B

    • 816.HK -- Jinmao Property Services CFO Zhou Liye steps down due to other business commitments, effective immediately

    • 300274.CH -- Sungrow Power Supply reports Q1 net income attributable CNY2.10B, +39% vs year-ago CNY1.51B

    • 601100.CH -- Jiangsu Hengli Hydraulic reports FY net income attributable CNY2.50B vs FactSet CNY2.42B [11 est, CNY2.35-2.70B]

    • 300122.CH -- Chongqing Zhifei Biological Products reports Q1 net income attributable CNY1.46B, (28%) vs year-ago CNY2.03B

    • SMBC Nikko initiates 4612.JP, 4613.JP

    • China Jan-Mar securities transaction stamp duty CNY25.6B, (49.1%) y/y - STCN, citing Ministry of Finance

    • 688065.CH -- Cathay Biotech holder Seasource Holdings, parties acting in concert cut combined stake to 6.0% from 7.0%

    • 6055.HK -- China Tobacco International (HK) releases sustainability report

    • 500182.IN -- Hero MotoCorp CTO Arun Jaura resigns to pursue personal endeavors; effective 30-Apr

    • 1992.HK -- Fosun Tourism Group reports Q1 business volume at constant exchange rate CNY7.16B vs year-ago CNY6.18B

    • 2601.HK -- China Pacific Insurance (Group) releases sustainability report 2023

  • On Deck:

    • China:

      • Economic:

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

      • Earnings:

        • Focus Media Information Technology (002027.CH), Yealink Network Technology (300628.CH)

    • Hong Kong:

      • Earnings:

        • China Telecom (728.HK), ASMPT (522.HK)

    • Japan:

      • Earnings:

        • OBIC Co. (4684.JP), Nidec (6594.JP), Shimano (7309.JP), Canon Marketing Japan (8060.JP), KOMERI (8218.JP)

    • Australia:

      • Earnings:

        • Next Science (NXS.AU), Brambles (BXB.AU)

    • India:

      • Earnings:

        • ICICI Prudential Life Insurance (540133.IN), Tata Consumer Products (500800.IN), Multi Commodity Exchange of India (534091.IN)

    • Singapore:

      • Earnings:

        • ESR-LOGOS REIT (J91U.SP), Mapletree Pan Asia Commercial Trust (N2IU.SP), Aztech Global (8AZ.SP)

    • Taiwan:

      • Earnings:

        • Unimicron Technology (3037.TT)

  • Market Data:

    • Gold (Jun 24): ($1.80) or (0.08%) to $2344.60

    • WTI Crude (May 24): $0.00 or 0.00% to $82.85

    • $-¥: +0.16 or +0.10% to 154.7860

    • $-KRW: +1.67 or +0.12% to 1376.3900

    • A$-$: +0.00 or +0.48% to 0.6448

    • $-INR: (0.02) or (0.03%) to 83.3569

    • $-CNY: +0.00 or +0.04% to 7.2426

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