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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.12%, Hang Seng Futures +0.05%, ASX SPI 200 +0.16%, S&P Futures (0.05%)

Apr 29 ,2024

  • Synopsis:

    • Asia equities poised to open higher Tuesday. Futures in Japan traded sharply higher, followed by moderate gains in Hong Kong and Australia. US contracts steady following cash gains in a mostly uneventful session. Tech leads mostly positive with SOX and Golden Dragon China index higher. Treasuries were firmer across the curve. Dollar index was 0.3% lower as yen continued to rebound back to Friday's range. Gold finished up 0.4%. Bitcoin futures down 1.7%. WTI crude settled down 1.5%.

    • Few developments overnight apart from positive tech news related to Tesla (TSLA) passing key milestone in advanced driver-assistance technology in China, and Apple (AAPL) said to have renewed discussions with OpenAI. Risk sentiment has recently been boosted by additional traction behind AI secular growth theme, mostly better big tech earnings takeaways, above-average Q1 earnings surprise metrics and a largely in-line March core PCE. Markets mostly awaiting this week's FOMC (mostly for guidance), employment data and Treasury quarterly refunding along with megacap earnings.

    • In Asia, Monday's yen volatility continued to reverberate. FX intervention still seen behind the sharp rebound after trading at a fresh 34-year low 160 per dollar, though MOF officials refrained to confirm. Press discussions reaffirmed longstanding skepticism that intervention would have lasting impact while underlying US-Japan rate gap remains wide, and focus remains on respective monetary policy trajectories. China heading into Golden Week holidays from Wednesday as transport ministry projecting travel numbers to surpass 2023 and pre-Covid 2019 levels.

    • Main regional macro event set to be China April PMIs. Headline manufacturing index seen softening to 50.3 from 50.8. Recall March figures were stronger than expected and takeaways meaningfully positive. However, monthly activity data showed growth momentum finished Q1 on a soft note, renewing concerns about the outlook for the rest of the year. Economists expressed concerns of a higher bar for policy stimulus after Q1 GDP was solid. Focus also turns to Japan markets returning from yesterday's holiday following yen volatility. Elsewhere, South Korea industrial production came in well below expectations, Japan unemployment rate unexpectedly remained steady with job offers to applicants ratio higher. Industrial production and retail sales on deck.

  • Pre-open Company News:

    • 2696.HK -- Shanghai Henlius Biotech guides Q1 revenue CNY1.35B; StreetAccount notes year-ago was CNY995.7M

    • 600032.CH -- Zhejiang Provincial New Energy Investment Group reports Q1 net income attributable CNY172.9M, +43% vs year-ago CNY121.0M

    • 9863.HK -- Zhejiang Leapmotor Technology releases ESG report 2023

    • 168.HK -- Tsingtao Brewery reports Q1 net income attributable CNY1.60B vs FactSet CNY1.49B [3 est, CNY1.45-1.56B]

    • 002555.CH -- 37 Interactive Entertainment Network Tech Gp reports Q1 net income attributable CNY616.2M vs FactSet CNY660.5M [2 est, CNY630.9-690M]

    • 603806.CH -- Hangzhou First Applied Material reports Q1 net income attributable CNY521.5M vs FactSet CNY440M [1 est]

    • 688122.CH -- Western Superconducting Technologies reports Q1 net income attributable CNY110.5M, (47%) vs year-ago CNY208.3M

    • 600498.CH -- Fiberhome Telecommunication Technologies reports Q1 net income attributable CNY41.5M vs year-ago CNY37.4M

    • 600132.CH -- Chongqing Brewery reports Q1 net income attributable CNY451.9M vs FactSet CNY382.9M [2 est, CNY328.7-437M]

    • 600690.CH -- Haier Smart Home releases sustainability report

    • 2016.HK -- China Zheshang Bank reports Q1 net income attributable CNY5.91B, +5% vs year-ago CNY5.63B

    • 603027.CH -- Qianhe Condiment & Food reports Q1 net income attributable CNY154.9M, +7% vs year-ago CNY145.2M

    • 600340.CH -- China Fortune Land Development reports FY attributable contracted sales CNY9.95B, (19.7%) y/y

    • 600340.CH -- China Fortune Land Development reports Q1 attributable contracted sales CNY1.71B, (19.2%) y/y

    • 9668.HK -- China Bohai Bank reports Q1 IFRS net profit HK$3.05B

  • On Deck:

    • China:

      • Economic:

        • 09:30 CST: CFLP Non Manufacturing PMI; consensus 52.1

        • 09:30 CST: CFLP PMI Manufacturing; consensus 50.3

        • 09:30 CST: CFLP Services PMI; consensus

    • Hong Kong:

      • Earnings:

        • VPower Group International Holdings (1608.HK), China National Building Material (3323.HK), XJ International Holdings Co. (1765.HK), China Datang Corp. Renewable Power (1798.HK), Zhejiang Expressway (576.HK), China YuHua Education (6169.HK)

    • Japan:

      • Economic:

        • 08:30 JST: Unemployment Rate; consensus 2.5%

        • 08:50 JST: Industrial Production SA M/M (Preliminary); consensus +3.5%

        • 08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +2.4%

        • 14:00 JST: Housing Starts NSA Y/Y; consensus (7.7%)

      • Earnings:

        • Sumitomo Forestry (1911.JP), ZOZO Inc (3092.JP), JSR Corp (4185.JP), OTSUKA CORP (4768.JP), Niterra (5334.JP), Lasertec (6920.JP), SG Holdings (9143.JP), The Kansai Electric Power Co. (9503.JP), The Chugoku Electric Power (9504.JP), Tohoku Electric Power (9506.JP), Kyushu Electric Power (9508.JP), Nihon M&A Center Holdings (2127.JP), Koei Tecmo Holdings (3635.JP), Aica Kogyo (4206.JP), Otsuka Holdings (4578.JP), Nippon Electric Glass Co. (5214.JP), LIXIL Corp. (5938.JP), Nabtesco (6268.JP), Nihon Unisys (8056.JP), ITOCHU ENEX (8133.JP), Nippon Gas Co Ltd (8174) (8174.JP), Japan Exchange (8697.JP), Tobu Railway Co. (9001.JP), East Japan Railway (9020.JP), West Japan Railway (9021.JP), Central Japan Railway (9022.JP), Nankai Electric Railway (9044.JP), Mitsui O.S.K. Lines (9104.JP), NS United Kaiun Kaisha (9110.JP), Mitsubishi Logistics (9301.JP), Tokyo Electric Power Co. Holdings (9501.JP), transcosmos (9715.JP)

    • South Korea:

      • Earnings:

        • Hyundai Steel (004020.KS), KOREA AEROSPACE INDUSTRIES (047810.KS), Hanmi Pharmaceutical Co. (128940.KS), HANKOOK TIRE & TECHNOLOGY Co. (161390.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: Retail Sales SA M/M (Preliminary); consensus +0.3%

        • 11:30 AEST: Private Sector Credit M/M; consensus +0.4%

      • Earnings:

        • Bubs Australia (BUB.AU), Frontier Digital Ventures (FDV.AU), Jervois Global (JRV.AU)

    • India:

      • Earnings:

        • Exide Industries (500086.IN), Procter & Gamble Hygiene & Health Care (500459.IN), Havells India (517354.IN), Central Bank of India (532885.IN), Adani Energy Solutions (539254.IN), IndiaMART InterMESH (542726.IN), Cholamandalam Investment & Finance (511243.IN), Indus Towers (534816.IN), Vedant Fashions (543463.IN)

    • Singapore:

      • Earnings:

        • Far East Hospitality Trust (Q5T.SP), CDL Hospitality Trusts (J85.SP), Parkway Life REIT (C2PU.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: GDP NSA Y/Y (Preliminary); consensus +5.7%

      • Earnings:

        • AUO Corp (2409.TT), President Chain Store (2912.TT)

    • Thailand:

      • Earnings:

        • Advanced Info Service Public (ADVANC.TB)

  • Market Data:

    • Gold (Jun 24): ($13.00) or (0.55%) to $2344.70

    • WTI Crude (Jun 24): ($0.01) or (0.01%) to $82.62

    • $-¥: (1.86) or (1.18%) to 156.2540

    • $-KRW: (3.53) or (0.26%) to 1374.1400

    • A$-$: +0.00 or +0.32% to 0.6564

    • $-INR: +0.05 or +0.06% to 83.4511

    • $-CNY: (0.01) or (0.11%) to 7.2380

  • 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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MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE