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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.11%, Hang Seng Futures +0.25%, ASX SPI 200 +0.35%, S&P Futures +0.19%

Apr 23 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Wednesday trade. Nikkei, Hang Seng and ASX futures all pointing to gains on the open. US contracts advancing afterhours with TSLA +12% amid positive reception to EV rollout update. Australian and New Zealand bond yields up marginally after Treasury curve bull steepened overnight. Dollar index neared two-week low following latest pullback, though yen steady near 34-year low. Gold flat. Crude rebounded. Bitcoin range bound.

    • Market bounce attributed to lower rates and dollar weakness following softer US flash PMI. Better earnings takeaways, oversold conditions, short covering and lack of escalation of Middle East tensions among other factors attributed for this week's recovery on equity markets. Around Asia, recent China market outperformance prompted more sell-side equity upgrades.

    • Australian CPI forecast to show headline inflation picking up on a q/q basis, and trimmed mean inflation unchanged. While that leave inflation broadly tracking RBA's forecasts, previews noted services components to indicate continued stickiness. Economists argue it would take a material downside surprise in CPI for RBA to soften guidance at next month's meeting.

    • Nikkei preview suggested BOJ board members to discuss yen weakness at Friday's meeting. However, no near-term policy implications with BOJ reportedly yet to see evidence of yen weakness impacting trend inflation and members in no rush to hike again. Consensus remains for an October rate hike with July viewed as most likely month for an earlier move.

  • Pre-open Company News:

    • 9866.HK -- NIO Inc downgraded to hold at SWS Research (timing uncertain)

    • 2886.TT -- Mega Financial Holding declares FY dividend of NT$1.50/share in cash plus NT$0.30/share in scrip

    • 000661.CH -- Changchun High-Tech Industry (Group)'s marketing approval application for nasal spray live attenuated influenza vaccine accepted by NMPA

    • 600383.CH -- Gemdale Corp. downgraded to hold from buy at BOCI Securities Limited (timing uncertain)

    • 3933.HK -- United Laboratories International Holdings expects to win bidding in national centralised procurement on insulin renewal

    • 6055.JP -- Japan Material revises guidance; guides FY net income attributable ¥5.67B, +18% vs prior ¥4.80B

    • 600521.CH -- NMPA approves drug registration of Zhejiang Huahai Pharmaceutical's busulfan

    • 6878.HK -- Hong Kong court adjourns hearing of Differ Group Auto's scheme of arrangement to 6-Jun

    • 600298.CH -- Angel Yeast downgraded to overweight from strong recommend at China Merchants Securities (China) (timing uncertain)

    • 500425.IN -- Ambuja Cements completes purchase of My Home Industries 1.5 MTPA cement grinding unit, originally announced 15-Apr

    • 600872.CH -- Jonjee Hi-Tech Industrial & Commercial Holding reports Q1 net income attributable CNY239.0M, +60% vs year-ago CNY149.7M

    • 3035.TT -- Faraday Technology reports Q1 EPS NT$1.13 vs FactSet NT$1.26 [12 est, NT$1.03-2.26]

    • 540115.IN -- StreetAccount Consensus Metrics Preview - L&T Technology Services Q4 Earnings

    • 2696.HK -- Shanghai Henlius Biotech doses first subject in phase I clinical study in healthy objects of HLX6018 in mainland China

    • 2616.HK -- CStone Pharmaceuticals releases sustainability report

  • On Deck:

    • Hong Kong:

      • Earnings:

        • Sinopec Shanghai Petrochemical (338.HK), China Overseas Land & Investment (688.HK), MMG Ltd (1208.HK), Redco Properties Group (1622.HK), CGN Power (1816.HK), Prada (1913.HK), China New Higher Education Group (2001.HK), Great Wall Motor (2333.HK), Hisense Home Appliances Group Co. (921.HK)

    • Japan:

      • Earnings:

        • Kinden (1944.JP), Chugai Pharmaceutical (4519.JP), CyberAgent (4751.JP), FANUC Corp (6954.JP), Canon (7751.JP), Hitachi Construction Machinery Co. (6305.JP), JAFCO Group (8595.JP)

    • South Korea:

      • Earnings:

        • Hanwha Ocean (042660.KS), Hyundai GLOVIS Co. (086280.KS), SK Hynix (000660.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: CPI NSA Q/Q; consensus +0.8%

        • 11:30 AEST: RBA Trimmed Mean CPI Q/Q; consensus

      • Earnings:

        • Kogan.com (KGN.AU), Atlas Arteria (ALX.AU), Insignia Financial (IFL.AU), PointsBet Holdings (PBH.AU)

    • New Zealand:

      • Economic:

        • 10:45 NZST: Trade Balance Goods; consensus

    • India:

      • Earnings:

        • Equitas Small Finance Bank (543243.IN), Dalmia Bharat (542216.IN)

    • Singapore:

      • Earnings:

        • Mapletree Pan Asia Commercial Trust (N2IU.SP), CapitaLand China Trust (AU8U.SP), CapitaLand China Trust (AU8U.SP), CapitaLand Ascott Trust (HMN.SP), OUE Real Estate Investment Trust (TS0U.SP)

    • Taiwan:

      • Earnings:

        • United Microelectronics (2303.TT)

    • Thailand:

      • Earnings:

        • The Siam Cement Public (SCC.TB)

  • Market Data:

    • Gold (Jun 24): ($4.70) or (0.20%) to $2337.40

    • WTI Crude (Jun 24): +$0.17 or +0.20% to $83.53

    • $-¥: (0.08) or (0.05%) to 154.7560

    • $-KRW: (8.80) or (0.64%) to 1370.5300

    • A$-$: +0.00 or +0.57% to 0.6485

    • $-INR: (0.09) or (0.11%) to 83.2838

    • $-CNY: +0.00 or +0.01% to 7.2445

  • 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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