Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.36%, Hang Seng Futures (0.03%), ASX SPI 200 (0.48%), S&P Futures +0.09%

Sep 17 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Wednesday trade. Futures signaling rebound in Japan and opening decline in Australia. Hong Kong and mainland China closed for public holiday. S&P 500 futures flat following another listless session ahead of Fed. Australian and New Zealand yields moving higher after Treasury curve bear flattened overnight. Crude flat following second consecutive 2% gain. Gold little changed. Bitcoin unchanged after rallying 4%.

    • Fed meeting later Wednesday with markets pricing in ~60% chance of 50 bp rate cut while economists eyeing 25 bp reduction. Previews expect policy statement to set up future cuts while Chair Powell expected to match dovish Jackson Hole messaging. New dot plot forest to show 75 bp of cuts for 2024, though market continues to price ~110 in cuts by year-end.

    • With yen recently rallying to highest against dollar since mid-2023, currency seen at risk of pullback if Fed opts for 25 bp cut against market expectations for 50 bp move. At same time, a dovish Fed outcome that puts further downward pressure on Treasury 2Y yield seen supporting yen, particularly if that is followed by Governor Ueda on Friday reaffirming that more rate hikes are on the cards.

  • Pre-open Company News:

    • 5401.JP (Nippon Steel) -- Bloomberg sources noted Nippon Steel to receive US security review extension likely punting decision past November election

    • 688036.CH -- Shenzhen Transsion Holding CFO Xiao Yonghui released from detention; assumes CFO role

    • ENGI.FP -- SembCorp Industries subsidiary signs SPA with ENGIE to acquire 30% interest in Senoko Energy; terms to be announced

    • 4568.JP -- Daiichi Sankyo and Merck's phase III trial of patritumab deruxtecan in patients with NSCLC meets primary endpoint

    • ^ASIAREADS -- StreetAccount Asia Reads

    • 500472.IN -- SKF India notes spin off and separate listing of automotive business by parent SKF

    • +YB -- Yuanbao Inc. files US IPO of ADSs through Goldman Sachs, Citigroup, and CICC - F-1

    • 7201.JP -- Nissan Motor downgraded to underperform from buy at BofA

    • 531642.IN -- Marico completes acquisition of remaining stake in Apcos Naturals, deal announced on 6-Sep

    • 6645.JP -- OMRON releases 2024 integrated report

    • ISOFOL.SS -- Isofol Medical announces positive outcomes of a preliminary patentability report on a new international product patent application for arfolitixorin, submitted under the PCT (Patent Cooperation Treaty)

    • 532955.IN -- REC Ltd signs non-binding MoUs with RE developers worth INR1.12T at RE-INVEST 2024

    • SBI Securities Japan upgrades 5844.JP, 8354.JP

    • PHO.NO -- PhotoCure partner Asieris unveils efficacy data of non-surgical treatment of cervical HSIL at the 2024 PDT&PD Conference

    • 4021.JP -- Nissan Chemical releases 2024 integrated report

    • JMART.TB -- Jaymart Group Holdings Public Co. declares interim dividend THB0.24/share

  • On Deck:

    • Japan:

      • Economic:

        • 08:50 JST: Trade Balance NSA (Preliminary); consensus

        • 08:50 JST: Import NSA Y/Y (Preliminary); consensus

        • 08:50 JST: Export NSA Y/Y (Preliminary); consensus +10.1%

        • 08:50 JST: Core Machinery Orders ex-Electric Power Companies & Ships SA M/M; consensus (1.2%)

    • Australia:

      • Earnings:

        • Spartan Resources (SPR.AU)

    • New Zealand:

      • Economic:

        • 10:45 NZST: Current Account; consensus

  • Market Data:

    • Gold (Dec 24): +$7.00 or +0.27% to $2599.40

    • WTI Crude (Oct 24): ($0.04) or (0.06%) to $71.15

    • $-¥: +1.28 or +0.91% to 141.8970

    • $-KRW: +1.88 or +0.14% to 1323.7200

    • A$-$: +0.00 or +0.13% to 0.6760

    • $-INR: (0.09) or (0.10%) to 83.7613

    • $-CNY: (0.00) or (0.01%) to 7.0925

  • 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