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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.13%, Hang Seng Futures (0.45%), ASX SPI 200 (0.01%), S&P Futures +0.46%

Oct 27 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Monday trade. Nikkei futures little changed while Hang Seng futures signaling mild decline on open. ASX flat in initial trade. S&P 500 futures advancing after logging weekly decline. Australian bonds under pressure as Treasuries continue to weaken. Yen paring post-election decline against dollar. Crude down 5% following Israel's restrained retaliation against Iran. Gold also peeling lower. Bitcoin rebounding.

    • China stimulus expectations remain elevated ahead of NPC Standing Committee meeting on 4-8-Nov. China Vice Finance Minister Liao Min on Friday flagged 'large scale' package with aim of strengthening domestic demand and consumption. Views mixed on likely size of package with estimates ranging up to CNY6T over multiple years geared towards stimulus and local government debt restructuring.

    • Japan national election on Sunday saw LDP/Komeito coalition lose its majority after winning 190 lower seats (233 needed for majority). Yen weakened to fresh three-month low against dollar. Outcome introduces fresh political uncertainty around whether coalition will seek support of new partners or govern as minority. However, unlikely to have near-term policy implications with BOJ expected to leave rates unchanged this week.

    • Oil under pressure early Monday after Israel delivered its long-await retaliation against Iranian missile barrage in early October. Israel launched air strikes against strategic military targets on Friday night, including radar systems and missile production facilities but avoiding oil and nuclear sites. Iran's downplaying of the attacks also indicated no intention to respond, tamping down concerns of tit-for-tat escalation

  • Pre-open Company News:

    • 2255.HK -- Haichang Ocean Park Holdings offers clarifications regarding sale of assets, privatization & disposal of shares by controlling shareholder

    • 000519.CH -- North Industries Group Red Arrow reports Q3 net income attributable (CNY104.8M), (204.7%) y/y

    • 600583.CH -- Offshore Oil Engineering reports Q3 net income attributable CNY548.0M, +40.8% y/y

    • T82U.SP -- Suntec Real Estate Investment Trust downgraded to accumulate from buy at Phillip Capital

    • WHA.TB -- WHA Corp. Public downgraded to neutral from buy at UBS

    • 047050.KS -- POSCO INTERNATIONAL initiated buy at Daiwa

    • 1519.HK -- J&T Global Express initiated buy at Nomura

    • 012330.KS -- Hyundai Mobis upgraded to buy from neutral at Nomura

    • 533278.IN -- Coal India upgraded to buy from accumulate at Elara Capital

    • 538835.IN -- Intellect Design Arena upgraded to buy from accumulate at Dolat Capital Markets

    • 500228.IN -- JSW Steel downgraded to reduce from hold at Nuvama Institutional Equities

    • 7751.JP -- Canon downgraded to B+ from A at Iwai Cosmo Securities

    • 500940.IN -- Finolex Industries upgraded to reduce from sell at Dolat Capital Markets

    • 505533.IN -- Westlife Foodworld downgraded to hold from buy at B & K Securities

    • 4503.JP -- Astellas Pharma withdraws EMA marketing authorization application for avacincaptad pegol intravitreal solution

  • On Deck:

    • China:

      • Economic:

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

      • Earnings:

        • Ingenic Semiconductor (300223.CH), Offshore Oil Engineering (600583.CH), North Industries Group Red Arrow (000519.CH), Yunnan Copper (000878.CH), Shanghai Stonehill Technology (002195.CH), Jiangsu Yoke Technology (002409.CH), Hangzhou Robam Appliances (002508.CH), SIASUN Robot & Automation (300024.CH), Weihai Guangwei Composites (300699.CH)

    • Japan:

      • Earnings:

        • ZEON Corp (4205.JP), Stanley Electric (6923.JP), Nitto Denko (6988.JP), Hulic Co. (3003.JP), Macnica Holdings (3132.JP), Koei Tecmo Holdings (3635.JP), SAKURA Internet (3778.JP), Shionogi & Co. (4507.JP), TOTO Ltd (5332.JP), Meidensha (6508.JP), KOKUYO (7984.JP), Paltac (8283.JP), Monex Group (8698.JP)

    • South Korea:

      • Earnings:

        • HYUNDAI ROTEM (064350.KS), Yuhan Corp (000100.KS), HD Hyundai Infracore (042670.KS), LG Chem (051910.KS), DGB Financial Group (139130.KS), Doosan Bobcat (241560.KS), KG DongbuSteel (016380.KS)

    • India:

      • Earnings:

        • Bharat Heavy Electricals (500103.IN), Ambuja Cements (500425.IN), Federal Bank Ltd (India) (500469.IN), Gillette India (507815.IN), Indian Oil Corp. (530965.IN), Punjab National Bank (532461.IN), JBM Auto (532605.IN), Firstsource Solutions (532809.IN), Sun Pharma Advanced Research (532872.IN), Sapphire Foods India (543397.IN), LIC Housing Finance (500253.IN), Kalpataru Projects International (522287.IN), Poly Medicure (531768.IN), Bharti Airtel (532454.IN), Indraprastha Gas (532514.IN), Motilal Oswal Financial Services (532892.IN), Quess Corp. (539978.IN), Sumitomo Chemical India (542920.IN), Computer Age Management Services (543232.IN), Restaurant Brands Asia (543248.IN), Tamilnad Mercantile Bank (543596.IN), Five Star Business Finance (543663.IN), KFin Technologies (543720.IN), Bharti Hexacom (544162.IN)

    • Singapore:

      • Earnings:

        • First Sponsor Group (ADN.SP)

    • Philippines:

      • Earnings:

        • Manila Electric (MER.PM), Wilcon Depot (WLCON.PM), BDO Unibank (BDO.PM)

  • Market Data:

    • Gold (Dec 24): ($4.40) or (0.16%) to $2750.20

    • WTI Crude (Dec 24): ($3.04) or (4.24%) to $68.74

    • $-¥: +0.52 or +0.34% to 152.8190

    • $-KRW: (1.17) or (0.08%) to 1387.6600

    • A$-$: (0.00) or (0.03%) to 0.6607

    • $-INR: +0.00 or +0.00% to 84.1020

    • $-CNY: +0.00 or +0.02% to 7.1227

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