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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.29%), Hang Seng Futures (0.18%), ASX SPI 200 +0.14%, S&P Futures (0.41%)

Jul 23 ,2024

  • Synopsis:

    • Asian markets set for mixed start Wednesday. Nikkei and Hang Seng futures signaling mid losses while ASX futures slightly higher. Nasdaq futures retreating amid post-earnings drop in TSLA and GOOGL. Australian yield curve bear steepening after Treasuries were mixed overnight. FX markets steady after yen rose towards early June highs. Crude gaining following much larger-than-expected API inventory draw. Gold flat while copper fell to early April lows. Bitcoin flat following Tuesday's 4% drop.

    • Some focus on after-hours US tech earnings with TSLA down 7% following bottom line miss. Operating margin weighed down by price cuts amid weaker EV demand, and AI-driven rise in expenses. Musk also confirmed Robotaxi event delayed to Oct-10. GOOGL down 2% afterhours after Q2 revenue topped forecasts. AI-related demand underpinned Cloud revenue though capex came in a bit higher than expected.

    • US politics still a press focus with VP Harris now overwhelmingly favored to clinch Democratic nomination. Attention quickly shifting to who Harris will select as her VP. Developments haven't yet shaken up election trajectory with Trump still favored to win andmomentum still behind 'Trump trade'. However, Harris' odds have narrowed, and Reuters poll showed Harris with a small lead over Trump.

    • In other developments, RBA Governor Bullock indicated August rate decision will be a close call with Australian inflation proving more persistent than overseas. Latest Bloomberg survey showed majority of economists expect BOJ to keep rates on hold next week and trim JGB purchases by ¥1T. India budget takeaways mixed with stocks falling Tuesday following CGT and derivative tax hike.

  • Pre-open Company News:

    • ^ASIAREADS -- StreetAccount Asia Reads

    • 009830.KS -- StreetAccount Consensus Metrics Preview - HANWHA SOLUTIONS Q2 Earnings

    • M1GU.SP -- Sabana Industrial Real Estate Investment Trust reports H1 income available for distribution SG$16.6M vs year-ago SG$17.8M

    • 2172.HK -- MicroPort NeuroTech guides H1 net income attributable CNY130-150M vs year-ago CNY58.0M

    • 543245.IN -- Gland Pharma gets tentative US FDA approval for Latanoprostene Bunod Ophthalmic Solution 0.024%

    • 300144.CH -- Songcheng Performance Development guides H1 net income attributable CNY480.0-620.0M vs year-ago CNY302.8M

    • 7203.JP -- Toyota Motor to launch tender offer to buy back shares from four insurers at ¥2,781/share, to run from 24-Jul to 26-Aug

    • Hong Kong stock connect daily turnover

    • 500696.IN -- Hindustan Unilever reports Q1 standalone profit after tax INR25.38B vs StreetAccount INR25.28B

    • 532720.IN -- Follow-up: Mahindra & Mahindra Financial Services reports Q1 Net interest income INR19.32B, +15% vs year-ago INR16.75B

    • 1137.HK -- Hong Kong Technology Venture closes 100M-share buyback offer

    • 600309.CH -- Wanhua Chemical Group subsidiary forms 50:50 JV for polyolefin project

    • 3877.HK -- CSSC (Hong Kong) Shipping Co Ltd (Hong Kong) guides H1 net income attributable to increase 21-23% y/y

    • 532432.IN -- United Spirits reports Q1 standalone EPS INR4.11 vs FactSet INR3.65 [4 est, INR3.50-3.80]

    • 532755.IN -- StreetAccount Consensus Metrics Preview - Tech Mahindra Q1 Earnings

  • On Deck:

    • China:

      • Economic:

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

    • Japan:

      • Earnings:

        • OBIC Co. (4684.JP), OBIC Business Consultants (4733.JP), Japan Aviation Electronics Industry (6807.JP), Canon Marketing Japan (8060.JP), JAFCO Group (8595.JP)

    • Australia:

      • Earnings:

        • Next Science (NXS.AU)

    • India:

      • Earnings:

        • Federal Bank Ltd (India) (500469.IN), Bajaj Holdings & Investment (500490.IN), Trident (521064.IN), Tata Teleservices (Maharashtra) (532371.IN), KPIT Technologies (542651.IN), Oracle Financial Services Software (532466.IN), Indian Energy Exchange (540750.IN), Indraprastha Gas (532514.IN), Bajaj Finserv (532978.IN), Syngene International (539268.IN)

    • Malaysia:

      • Economic:

        • 00:00 EST: CPI NSA Y/Y; consensus +2.2%

    • Singapore:

      • Earnings:

        • Frasers Centrepoint Trust (J69U.SP), Mapletree Logistics Trust (M44U.SP)

    • Thailand:

      • Earnings:

        • The Siam Cement Public (SCC.TB)

  • Market Data:

    • Gold (24-Aug): +$2.40 or +0.10% to $2409.70

    • WTI Crude (24-Sep): +$0.43 or +0.56% to $77.39

    • $-¥: (1.23) or (0.78%) to 155.8100

    • $-KRW: (4.52) or (0.33%) to 1383.4700

    • A$-$: (0.00) or (0.48%) to 0.6612

    • $-INR: +0.03 or +0.03% to 83.7067

    • $-CNY: +0.00 or +0.01% to 7.2743

  • 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
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE