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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.38%, Hang Seng Futures (0.34%), ASX SPI 200 (0.49%), S&P Futures +0.09%

Oct 17 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Friday trade. Futures signaling mild opening declines in Hong Kong and positive open in Japan. ASX lower in initial trade. Nasdaq futures touch higher afterhours with NFLX +5% following subs beat. Australian and New Zealand bonds under pressure after Treasury curve bear steepened. FX markets flat after yen broke through 150-per dollar handle for first time since early August. Crude and gold steady after managing cautious gains. Bitcoin range bound.

    • Attention turns to China GDP and activity data. Consensus is for a slowdown in Q3 GDP growth that still leaves 9M aggregate in line with government's 2024 growth target. Little change expected in fixed asset investment and industrial production growth though retail sales growth seen picking up. Property metrics will also be eyed with real estate investment declines seen maintaining 10% pace.

    • Nasdaq Golden Dragon index down 3.6% overnight, extending Thursday pullback on China markets after Housing Ministry press briefing underwhelmed hopes for meaningful support. Expanded 'white list' met with doubts whether it will aid property destocking, coming after recent MoF press conference fell short of major policies to boost consumption. Property developers have led broad pullback on China markets this week amid the constant stimulus disappointment.

  • Pre-open Company News:

    • 1336.HK -- New China Life Insurance reports Jan-Sep premium income of CNY145.64B; StreetAccount notes year-ago was CNY142.91B

    • 601611.CH -- China Nuclear Engineering Corp. reports Jan-Sep new contracts signed CNY106.73B

    • 600660.CH -- Fuyao Glass Industry Group reports 9M net income attributable CNY5.48B, +33% vs year-ago CNY4.13B

    • 517354.IN -- Havells India reports Q2 standalone profit after tax INR2.73B vs StreetAccount INR3.17B

    • 6657.HK -- Baiwang CEO Yang Zhengdao resigns in pursuit of other career development objectives, effective today

    • 541729.IN -- HDFC Asset Management downgraded to accumulate from buy at KRC Research

    • 435.HK -- Sunlight Real Estate Investment Trust reports Q1 occupancy rate 91.1% vs quarter-ago 91.6%

    • 500209.IN -- Infosys reports Q2 consolidated EPS INR15.68 vs StreetAccount INR16.24

    • Banks, food/beverage and media outperform; basic resources and telecom slide:

    • 532215.IN -- Follow up: Axis Bank reports Q2 Net interest income INR134.83B vs StreetAccount INR135.95B

    • 532514.IN -- Indraprastha Gas notes 21% reduction in domestic gas allocation to company, effective 16-Oct; expects adverse material impact on profitability

    • 590003.IN -- Karur Vysya Bank reports Q2 EPS INR5.88 vs FactSet INR5.53 [3 est, INR5.40-5.80]

    • 532790.IN -- Tanla Platforms reports Q2 consolidated EPS INR9.67 vs year-ago INR10.60

    • 500770.IN -- Tata Chemicals reports Q2 consolidated EPS (cont ops) INR7.61 vs year-ago INR16.80

    • 590003.IN -- Follow-up: Karur Vysya Bank reports Q2 Net interest income INR10.60B vs FactSet INR10.48B

  • On Deck:

    • China:

      • Economic:

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

        • 10:00 CST: GDP NSA Y/Y; consensus +4.6%

        • 10:00 CST: Industrial Output NSA Y/Y; consensus +4.6%

        • 10:00 CST: Retail Sales NSA Y/Y; consensus +2.4%

    • Hong Kong:

      • Earnings:

        • China Tower (788.HK)

    • Japan:

      • Economic:

        • 08:30 JST: CPI Core National Y/Y; consensus

        • 08:30 JST: CPI National Y/Y; consensus +2.5%

        • 08:30 JST: CPI ex-Fresh Food and Energy; consensus +2.3%

    • Australia:

      • Earnings:

        • Atlas Arteria (ALX.AU), Beach Energy (BPT.AU)

    • India:

      • Earnings:

        • Mangalore Refinery & Petrochemicals (500109.IN), Hindustan Zinc (500188.IN), Mastek (523704.IN), Tejas Networks (540595.IN), Aether Industries (543534.IN), Jindal SAW (500378.IN), Elecon Engineering (505700.IN), Oberoi Realty (533273.IN), L&T Finance (533519.IN)

    • Singapore:

      • Earnings:

        • Sabana Industrial Real Estate Investment Trust (M1GU.SP)

    • Thailand:

      • Earnings:

        • TMBThanachart Bank Public Co. (TTB.TB)

  • Market Data:

    • Gold (Dec 24): $0.00 or 0.00% to $2707.50

    • WTI Crude (Nov 24): +$0.20 or +0.28% to $70.87

    • $-¥: +0.62 or +0.41% to 150.2550

    • $-KRW: +5.30 or +0.39% to 1369.8300

    • A$-$: +0.00 or +0.45% to 0.6697

    • $-INR: (0.00) or (0.00%) to 84.0448

    • $-CNY: +0.00 or +0.05% to 7.1229

  • 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