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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.38%, Hang Seng Futures (0.76%), ASX SPI 200 (0.94%), S&P Futures +0.23%

May 22 ,2024

  • Synopsis:

    • Asian markets set for a mixed start to Thursday trade. Nikkei futures signaling mild gain on the open while Hang Seng and ASX futures weaker. US contracts higher afterhours on NVDA's post-earnings rally. Australian and New Zealand bonds weaker, tracking earlier Treasury curve bear flattening that followed FOMC minutes. FX markets steady after dollar strengthened against majors. Yen at three-week low. Copper, gold and crude extended pullback. Bitcoin little changed.

    • May FOMC minutes noted disinflation likely to take longer than previously thought as participants discussed maintaining current restrictive stance for longer. Also mentioning a willingness to tighten policy further should more inflationary pressures materialize. Previews had flagged a hawkish tone to the minutes, though also thoughts that minutes were de-risked by recent weak economic data that led markets back to pricing in 1-2 rate cuts in 2024.

    • NVDA +6% afterhours following big beat on top and bottom line as AI boom drove big growth in data center revenue. Sales guidance also came in above expectations with CEO Huang flagging big revenue contribution from next gen H200 chips slated for launch in Q3. Capital management another highlight after company announced 10:1 stock split and raised quarterly dividend by 150%.

  • Pre-open Company News:

    • 539658.IN -- TeamLease Services reports Q4 consolidated EPS INR16.39 vs year-ago INR14.00

    • 300408.CH -- Chaozhou Three-Circle (Group) upgraded to buy from overweight at Great Wall Securities (timing uncertain)

    • 533248.IN -- Gujarat Pipavav Port chariman Tejpreet Singh Chopra resigns, effective 23-May

    • IMMR -- Immersion announces renewed license agreement with Samsung Electronics Co.

    • 540769.IN -- The New India Assurance reports Q4 EPS INR2.15 vs year-ago INR4.34

    • 1508.HK -- China Reinsurance (Group) reports Jan-Apr aggregate primary premium income CNY18.94B

    • 543220.IN -- Max Healthcare Institute reports Q4 consolidated EPS INR2.58 vs year-ago INR2.58

    • 524715.IN -- Sun Pharmaceutical Industries reports Q4 consolidated EPS INR11.1 vs FactSet INR9.96 [10 est, INR8.32-11.50]

    • 548.HK -- Shenzhen Expressway to invest CNY19.23B in reconstruction, expansion of Jihe Expressway section

    • 543245.IN -- Gland Pharma reports Q4 consolidated net income attributable INR1.92B vs FactSet INR2.37B [10 est, INR2.10-2.62B]

    • 1398.HK -- Industrial & Commercial Bank of China approves Liu Jun as president and vice chairman

    • Goldman Sachs upgrades 16.HK; downgrades 12.HK

    • IVA.FP -- Inventiva highlights two scientific presentations for lanifibranor at the EASL 2024

    • 2049.TT -- HIWIN Technologies downgraded to hold from buy at HSBC

    • 2696.HK -- NMPA approves Henlius Biotech's supplemental applications for HANDAYUAN for four new indications

  • On Deck:

    • China:

      • Economic:

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

    • Hong Kong:

      • Earnings:

        • Lenovo Group (992.HK)

    • South Korea:

      • Economic:

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

    • Australia:

      • Economic:

        • 11:00 AEST: Consumer Inflation Expectation; consensus

    • New Zealand:

      • Earnings:

        • Oceania Healthcare (OCA.NZ)

    • India:

      • Earnings:

        • Uno Minda (532539.IN), Finolex Cables (500144.IN), Fortis Healthcare (532843.IN)

    • Malaysia:

      • Earnings:

        • Sime Darby (4197.MK)

    • Singapore:

      • Earnings:

        • Singtel (Z74.SP)

    • Taiwan:

      • Earnings:

        • Taishin Financial Holdings (2887.TT), SinoPac Financial Holdings Co. (2890.TT)

  • Market Data:

    • Gold (Jun 24): ($9.00) or (0.38%) to $2383.90

    • WTI Crude (Jul 24): ($0.40) or (0.52%) to $77.17

    • $-¥: +0.52 or +0.34% to 156.6800

    • $-KRW: +1.44 or +0.11% to 1365.8100

    • A$-$: (0.00) or (0.69%) to 0.6621

    • $-INR: (0.10) or (0.12%) to 83.2869

    • $-CNY: +0.08 or +1.06% to 7.2403

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