Sep 30 ,2024
Synopsis:
Asian markets set for mixed start to Tuesday trade. Futures signaling modest opening gains in Japan while ASX futures lower. Greater China markets closed for National Day celebrations. S&P 500 futures edging lower afterhours. Australian bonds weakening after Treasury curve flattened overnight. Crude little changed in muted response to latest ramp in Middle East tensions. Gold flat. Bitcoin little changed after retreating from two-month high.
Newly elected LDP leader Shigeru Ishiba to be formally appointed Japan PM today as attention turns to snap general election called for 27-Oct. Japan equities notably lower Monday after Ishiba's leadership victory drew attention to perceived hawkish remarks on fiscal policy. At same time analysts downplayed notion of a hawkish policy shift with Monday's pullback also considered function of preceding rally after markets moved to price a Sanae Takaichi victory.
Big Monday rally in China culminated in CSI 300's biggest daily gain since 2008. Marked continuation of post-stimulus rebound in equities with strategists eying more upside over near-term. However, there are lingering doubts about rally's sustainability. FOMO thought to be fueling rally with retail investors piling in before holiday period. Press also highlighted upside momentum from quant-driven short squeeze.
Pre-open Company News:
4553.JP -- Towa Pharmaceutical settles lawsuit filed by Eagle Pharmaceuticals and SymBio Pharmaceuticals
601179.CH -- China XD Electric holder GE Smallworld (Singapore) to sell 153.8M shares from 29-Oct to 28-Jan
UD2.SP -- Japfa completes equal access offer announced on 19-Aug; repurchases 139.8M shares
2201.TT -- Yulon Motor completes sale of 51% stake in Yulon Motor Finance (China) to BAIC as announced in Nov 2023
India External Debt as at 30-June $682.3B vs consensus $667.0B and prior $668.9B
542830.IN -- Indian Railway Catering and Tourism Ajit Kumar ceases to be CFO upon term completion, effective 30-Sep
532525.IN -- Bank of Maharashtra launches QIP at floor price INR60.37/share
1238.HK -- Powerlong Real Estate Holdings signs in-principle agreement with ad hoc group to amend RSA; withdraws FY21 final dividend
3002.JP -- Gunze Ltd releases 2024 Integrated Report
8609.JP -- Okasan Securities Group releases 2024 Integrated Report
1662.JP -- Japan Petroleum Exploration releases 2024 Integrated Report
CMS finalizes decision memo for NCD for PrEP w/ antiretroviral therapy for the prevention of HIV
002444.CH -- Quick Take - Hangzhou Great Star Industrial Q3 guidance
9147.JP -- Nippon Express Holdings acquires 100% stake in Simon Hegele; terms undisclosed
4348.JP -- Infocom chairman Norihiro Takehara to resign due to personal reason, effective today
On Deck:
Japan:
Economic:
08:30 JST: Unemployment Rate; consensus 2.7%
08:50 JST: Tankan Large Non-Manufacturing Index NSA; consensus
08:50 JST: Tankan Large Manufacturing Index NSA; consensus
Earnings:
Zojirushi (7965.JP), Daiseki (9793.JP)
South Korea:
Economic:
11:00 KST: Trade Balance NSA; consensus
11:00 KST: Import NSA Y/Y; consensus +5.9%
11:00 KST: Export NSA Y/Y; consensus +6.6%
Australia:
Economic:
11:30 AEST: Retail Sales SA M/M (Preliminary); consensus +0.6%
11:30 AEST: Building Approvals SA M/M; consensus
Indonesia:
Economic:
11:00 SAST: CPI NSA Y/Y; consensus +2%
Market Data:
Gold (Dec 24): ($2.80) or (0.11%) to $2656.60
WTI Crude (Nov 24): +$0.10 or +0.15% to $68.27
$-¥: +1.49 or +1.05% to 143.6020
$-KRW: +5.60 or +0.43% to 1315.9000
A$-$: +0.00 or +0.20% to 0.6916
$-INR: +0.11 or +0.13% to 83.8277
$-CNY: +0.01 or +0.08% to 7.0175
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