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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.05%), Hang Seng Futures (0.50%), ASX SPI 200 +0.08%, S&P Futures +0.04%

Jun 20 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Friday trade. Hang Seng futures pointing to opening declines while Nikkei and ASX futures flat. S&P 500 futures unchanged after US indexes finished mixed Thursday. Australian and New Zealand bonds weakening after Treasury yield curve steepened. FX markets steady after dollar strengthened across-the-board. Crude touched highest since late April. Gold hit two-week high. Bitcoin pulled back from overnight high.

    • FX weakness in spotlight after yen settled at fresh 34-year low, reflecting ongoing attention to Japan's yield gap with other countries. Currency near levels that prompted FX intervention in late Apr and Japan's FX chief Kanda reiterated readiness to act if needed. Also on Thursday yuan fell to six month low after PBOC set daily midpoint at weakest level since Nov-2023, reviving thoughts authorities loosening grip on currency amid dollar's pullback.

    • Japan core inflation reaccelerated, though by a bit less than expected. Data may reinforce thoughts of BOJ moving to hike interest rates in July. BOJ Governor Ueda said this week board still assessing whether underlying inflation tracking to 2% in sustainable manner, though he also pointed out JGB purchase reductions and rate hike were separate matters, echoing his post-meeting comments that both could occur together next month.

    • Making headlines, US Treasury Department put Japan on FX monitoring list though did not label any country currency manipulator. Reuters reported China's small banks given regulatory orders to wind down wealth management product businesses amid financial risks. China Third Plenum previews noting leaders to discuss fiscal reform aimed at boosting local government revenue.

  • Pre-open Company News:

    • EU sets a provisional deadline of 24-Jul to rule on Central Group's acquisition of KaDeWe

    • 3182.MK -- Trading suspended in Genting pending announcement

    • 6012.MK -- Maxis Bhd completes subscription of 100K shares in Digital Nasional Berhad

    • 000975.CH -- Yintai Gold, Osino extend closing date of acquisition from 30-Jun to 30-Jul

    • 728.HK -- China Telecom reports May mobile net adds 1.9M

    • 500312.IN -- Oil & Natural Gas appoints Shri Devendra Kumar as CFO, effective immediately

    • China reports Jan-May total electricity consumption 3.837T kWh, +8.6% y/y

    • 762.HK -- China Unicom (Hong Kong) reports May operational statistics: "Big Connectivity" subscribers 1.05B vs month-ago 1.04B

    • Hong Kong stock connect daily turnover

    • 006800.KS -- Mirae Asset Securities Co. releases sustainability report

    • 3182.MK -- Genting subsidiaries enter $962.8M contract with Wison New Energies for 1.2MTPA FLNG facility

    • 532134.IN -- Bank of Baroda CFO Ian De Souza steps down due to other career opportunity, effective today

    • 600968.CH -- CNOOC Energy Technology & Services CFO Meng Yuli resigns due to work adjustment, effective immediately

    • 4911.JP -- Shiseido announces transfer of ownership in FineToday

    • OSI.CN -- Osino provides update on Yintai transaction

  • On Deck:

    • China:

      • Economic:

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

    • Japan:

      • Earnings:

        • TSURUHA Holdings (3391.JP)

  • Market Data:

    • Gold (Aug 24): +$4.20 or +0.18% to $2373.20

    • WTI Crude (Jul 24): $0.00 or 0.00% to $82.17

    • $-¥: +1.06 or +0.67% to 158.9310

    • $-KRW: +10.41 or +0.75% to 1390.7500

    • A$-$: +0.00 or +0.09% to 0.6658

    • $-INR: +0.25 or +0.30% to 83.6300

    • $-CNY: +0.00 or +0.06% to 7.2591

  • 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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