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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.14%, Hang Seng Futures +0.80%, ASX SPI 200 +0.41%, S&P Futures (0.07%)

Oct 08 ,2024

  • Synopsis:

    • Asian markets set for positive start to Wednesday trade. Futures pointing to rebound in Japan and Hong Kong. ASX higher in initial trade. S&P 500 futures flat afterhours. Bonds little changed after Treasuries firmed following recent backup in yields. FX markets steady with yen consolidating near mid-August lows against dollar. Crude recovering following 5% drop overnight as markets await Israeli retaliation against Iran. Gold and copper nudging higher. Bitcoin unchanged after lifting from overnight lows.

    • Nasdaq Golden Dragon index fell 7% overnight. Follows volatile Tuesday session where Hong Kong-listed China stocks faced heavy selling after NDRC press conference underwhelmed hopes for large fiscal stimulus. There had been some talk about fiscal package of up to CNY3T, though NDRC revealed only that CNY200B spending earmarked for 2025 would be brought forward.

    • Majority of economists expect RBNZ to cut OCR by 50 bp today. Advocates for 50 bp cut cite overly restrictive policy settings in an environment where New Zealand's economy is barely growing. Recent quarterly business survey fed suggestions labor market is cooling at a potentially faster pace than expected. Previews also highlighted risk of inflation undershooting 2% target midpoint.

  • Pre-open Company News:

    • 3533.TT -- Lotes Co. reports September revenue NT$2.78B, +25.7% y/y

    • 601225.CH -- Shaanxi Coal Industry reports September coal production 13.8Mt vs year-ago 13.0Mt

    • 000739.CH -- Apeloa Pharmaceutical receives FDA marketing approval for Amantadine Hydrochloride Tablets

    • 11.HK -- Hang Seng Bank declares third interim dividend HK$1.20/share; StreetAccount notes year-ago dividend was HK$0.7/share

    • 1813.HK -- KWG Group Holdings reports September pre-sales value CNY603M, (27.3%) y/y

    • 2376.TT -- Gigabyte Technology reports September revenue NT$26.74B, +64.3% y/y

    • 6488.TT -- GlobalWafers reports September revenue NT$5.15B, (19.9%) y/y

    • 5347.TT -- Taiwan Semiconductor discloses subscription of additional 42.5M shares in Vanguard International Semiconductor at NT$88/share

    • 2892.TT -- First Financial Holding reports September PBT NT$2.23B; StreetAccount notes year-ago figure was NT$1.69B

    • 2887.TT -- Taishin Financial Holdings reports September net income NT$1.32B; StreetAccount notes year-ago figure was (NT$730M)

    • 533179.IN -- Persistent Systems achieves carbon neutrality target a year ahead of target

    • 1918.HK -- Sunac China Holdings reports September contracted sales value CNY1.41B; StreetAccount notes the year-ago figure was CNY9.57B

    • 002714.CH -- Muyuan Foods sold 5.4M pigs (including 324K piglets) in September vs year-ago 5.4M

    • 1378.HK -- China Hongqiao Group initiated outperform at SWS Research (timing uncertain)

    • 302440.KS -- SK bioscience acquires stake in FinaBio for $3M (KRW4.04B)

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: M2 NSA Y/Y; consensus

        • 08:00 CST: Loan Growth Y/Y; consensus

        • 08:00 CST: New Yuan Loans; consensus

    • Japan:

      • Earnings:

        • ABC-MART (2670.JP), KOMEDA Holdings (3543.JP), BELLSYSTEM24 Holdings (6183.JP), Saizeriya (7581.JP), AEON Co. (8267.JP), Yoshinoya Holdings (9861.JP)

    • Taiwan:

      • Economic:

        • 16:00 TST: CPI NSA Y/Y; consensus

      • Earnings:

        • Nanya Technology (2408.TT)

  • Market Data:

    • Gold (Dec 24): +$6.60 or +0.25% to $2642.00

    • WTI Crude (Nov 24): +$0.14 or +0.19% to $73.71

    • $-¥: +0.05 or +0.04% to 148.2360

    • $-KRW: (7.23) or (0.54%) to 1338.6500

    • A$-$: (0.00) or (0.23%) to 0.6741

    • $-INR: (0.07) or (0.08%) to 83.9302

    • $-CNY: +0.04 or +0.54% to 7.0578

  • 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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MAY LOSE VALUE
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