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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.66%, Hang Seng Futures +0.97%, ASX SPI 200 +0.79%, S&P Futures (0.13%)

Oct 16 ,2024

  • Synopsis:

    • Asian markets set for positive start to Thursday trade. Futures signaling opening gains in Japan and Hong Kong. ASX building on opening gains. S&P 500 futures touch lower afterhours. Australian and New Zealand bond yields lower after Treasuries firmed overnight. FX markets steady after dollar index hit highest since early August. Crude choppy with gold and copper flat. Bitcoin unchanged near late July highs.

    • China Housing Minister and other officials to hold press conference where focus will be on support measures for property market. Property developers rallied Wednesday amid anticipation ahead of today's briefing. However, China stocks have whipsawed with stimulus disappointment getting some of the blame. On Saturday China's finance minister said local governments can use money from special bonds to acquire unsold homes, though details were lacking.

    • Australian employment data forecast to show step down in headline jobs growth following run of hotter-than-expected prints. No change expected to unemployment rate. Comes as RBA continues to assess labor market conditions as tight relative to full employment. September minutes also showed discussion about scenario where policy may need to be tightened further if labor market is stronger than forecast.

    • TSMC reports Q3 earnings and is expected announce 40% lift in profit. Comes after company delivered a stronger-than-expected increase in Q3 revenue last week. Focus likely to center on guidance and outlook commentary, particularly in light of AMSL's weak 2025 guidance this week that weighed on broader semi space. In July TSMC lifted both its FY sales and capex forecast.

  • Pre-open Company News:

    • 540716.IN -- StreetAccount Consensus Metrics Preview - ICICI Lombard General Insurance Q2 Earnings

    • 600995.CH -- China Southern Power Grid Energy Storage reports prelim. 9M net income attributable CNY1.05B, +28% vs year-ago CNY819.0M

    • 688065.CH -- Cathay Biotech controlling shareholder proposes CNY10.0-20.0M on-market buyback, to run for 12 months

    • HMPRO.TB -- Home Product Center Public Co. downgraded to hold from outperform at CLSA

    • 3382.JP -- Seven & i downgraded to B from B+ at Iwai Cosmo Securities

    • 503806.IN -- SRF Ltd downgraded to sell from buy at UBS

    • Daiwa upgrades 9502.JP, 9504.JP, 9505.JP, others

    • 601100.CH -- Jiangsu Hengli Hydraulic initiated buy at Kaiyuan Securities

    • 532321.IN -- Trading lower: Zydus Lifesciences, in reaction to yesterday's court ruling in favor of Exelixis

    • 601628.CH -- China Life Insurance guides 9M net income attributable CNY101.14-108.77B vs year-ago CNY38.16B

    • 601888.CH -- China Tourism Group Duty Free downgraded to overweight from strong recommend at China Merchants Securities (China) (timing uncertain)

    • C2PU.SP -- Parkway Life REIT reports 9M gross revenue SG$108.5M, (2.2%) vs year-ago SG$110.9M

    • 1898.HK -- China Coal Energy reports September commercial coal production 11.9M tonnes, +9.1% y/y

    • 532977.IN -- Bajaj Auto reports Q2 standalone profit after tax (ex-items) INR22.16B vs year-ago INR18.36B

  • On Deck:

    • China:

      • Economic:

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

      • Earnings:

        • Fuyao Glass Industry Group (600660.CH)

    • Japan:

      • Economic:

        • 08:50 JST: Export NSA Y/Y (Preliminary); consensus (0.9%)

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

        • 08:50 JST: Import NSA Y/Y (Preliminary); consensus +3%

      • Earnings:

        • DISCO Corp. (6146.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Unemployment Rate; consensus 4.3%

        • 11:30 AEST: Employment SA; consensus +15K

      • Earnings:

        • Santos (STO.AU)

    • India:

      • Earnings:

        • Nestle India (500790.IN), Nestle India (500790.IN), Indian Overseas Bank (532388.IN), Tanla Platforms (532790.IN), Central Bank of India (532885.IN), LTIMindtree (540005.IN), Karur Vysya Bank (590003.IN), CEAT Ltd (500878.IN), Jindal Stainless (532508.IN), Polycab India (542652.IN)

    • Taiwan:

      • Earnings:

        • Taiwan Semiconductor (2330.TT), LARGAN Precision (3008.TT)

  • Market Data:

    • Gold (Dec 24): ($1.50) or (0.06%) to $2689.80

    • WTI Crude (Nov 24): +$0.37 or +0.53% to $70.76

    • $-¥: +0.41 or +0.28% to 149.6290

    • $-KRW: (1.25) or (0.09%) to 1363.1900

    • A$-$: (0.00) or (0.63%) to 0.6662

    • $-INR: (0.02) or (0.02%) to 84.0393

    • $-CNY: (0.00) or (0.02%) to 7.1184

  • 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
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