Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.04%, Hang Seng Futures +2.09%, ASX SPI 200 +0.56%, S&P Futures (0.07%)

Oct 09 ,2024

  • Synopsis:

    • Asian equities set for positive start to Thursday trade. Futures signaling rebound in Hong Kong and opening gains in Japan. ASX higher in initial trade. S&P 500 futures flat afterhours. Australian and New Zealand bonds tracking overnight Treasury curve bear flattening. FX markets quiet after kiwi fell to mid-August low following RBNZ's 50 bp rate cut. Crude seeing minor gain while gold unchanged. Bitcoin drifting back to one-week low.

    • US September CPI forecast to show annual headline inflation falling to 2.3%, lowest since early 2021. Market-implied odds of a 50 bp Fed rate cut in November have wound back to zero following hotter-than-expected September payrolls while recent Fedspeak has signaled support for more gradual reductions. While FOMC minutes showed substantial majority supported 50 bp rate cut, a few saw case for 25 bp cut at September's meeting.

    • China stockmarket volatility has spiked following huge run-up that fueled concerns equities careened into extreme overbought territory. Stimulus disappointment was mentioned as drag though MoF to hold Saturday press conference (consensus looking for up to CNY3.0T in fiscal stimulus). While strategists have turned bullish on China, there are elevated expectations for meaningful fiscal response to validate the rally.

  • Pre-open Company News:

    • 2105.TT -- Cheng Shin Rubber Ind. reports September revenue NT$8.46B, (1.5%) y/y

    • 3813.HK -- Pou Sheng International (Holdings) reports September revenue CNY1.42B, (14.7%) y/y

    • 1101.TT -- TCC Group Holdings CO. reports September revenue NT$13.33B, +52.6% y/y

    • 2454.TT -- MediaTek reports September revenue NT$44.68B, +23.8% y/y

    • 2377.TT -- Micro-Star International reports September revenue NT$19.81B, +9.4% y/y

    • 600383.CH -- Gemdale Corp. reports September contracted sales CNY5.20B, +60.3% y/y

    • 543272.IN -- Easy Trip Planners board schedules 14-Oct meeting to consider issuing bonus shares

    • 600066.CH -- Yutong Bus reports September vehicle sales 3,788 units vs year-ago 3,567 units

    • 2883.TT -- KGI Financial Holding reports September net income attributable NT$2.22B; StreetAccount notes year-ago figure was NT$2.14B

    • 603501.CH -- Will Semiconductor Co Ltd Shanghai guides 9M net income attributable CNY2.27-2.47B vs year-ago CNY368.4M

    • 2201.TT -- Yulon Motor reports September revenue NT$7.07B, (1.9%) y/y

    • 600521.CH -- Zhejiang Huahai Pharmaceutical guides 9M net income attributable CNY0.99-1.05B, +37-45% y/y

    • 600674.CH -- Sichuan Chuantou Energy reports preliminary 9M net income attributable CNY4.42B vs year-ago CNY3.96B

    • 600021.CH -- Shanghai Electric Power reports 9M electricity generation 59.00B kWh, +5.2% y/y

    • 524230.IN -- Rashtriya Chemicals & Fertilizers receives INR10.00B purchase order from Larsen & Toubro

  • On Deck:

    • China:

      • Economic:

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

        • 08:00 CST: New Yuan Loans; consensus

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

    • Hong Kong:

      • Earnings:

        • Zhaojin Mining Industry (1818.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Bank Loans NSA Y/Y; consensus

        • 08:50 JST: Domestic CGPI NSA Y/Y; consensus

      • Earnings:

        • Seven & i (3382.JP), Ichigo (2337.JP), Hogy Medical (3593.JP), SHIFT Inc (3697.JP), Hisamitsu Pharmaceutical (4530.JP), OSG Corp (6136.JP), Takeuchi Mfg. (6432.JP), Kohnan Shoji (7516.JP), U-NEXT HOLDINGS Co. (9418.JP), NOMURA (9716.JP), Belc Co. (9974.JP), FAST RETAILING (9983.JP)

    • Australia:

      • Economic:

        • 11:00 AEST: Consumer Inflation Expectation; consensus

    • India:

      • Earnings:

        • Anand Rathi Wealth (543415.IN)

    • Malaysia:

      • Earnings:

        • Top Glove Corp. (7113.MK)

  • Market Data:

    • Gold (Dec 24): +$0.40 or +0.02% to $2626.40

    • WTI Crude (Nov 24): +$0.15 or +0.20% to $73.39

    • $-¥: +0.98 or +0.66% to 149.1820

    • $-KRW: +2.05 or +0.15% to 1343.3700

    • A$-$: (0.00) or (0.40%) to 0.6717

    • $-INR: (0.01) or (0.01%) to 83.9331

    • $-CNY: +0.02 or +0.29% to 7.0801

  • 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