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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.64%, Hang Seng Futures (0.17%), ASX SPI 200 (0.29%), S&P Futures +0.22%

Oct 29 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Wednesday trade. Futures pointing to positive open in Japan while Hang Seng futures little changed. ASX lower in initial trade. S&P 500 futures gaining afterhours with GOOGL +6% following cloud-driven revenue beat. Bond markets quiet after Treasury yields eased overnight. FX markets steady with yen near three-month low. Gold reached fresh record high while crude fluctuating near early October lows. Bitcoin closing in on record high.

    • China stimulus expectations continue to build ahead of next week's NPC Standing Committee meeting. Reuters sources reported authorities weighing more than CNY10T ($1.4T) in extra bond issuance over coming years with potential for bigger package if Trump wins. Part of the proceeds expected to be used for addressing local government hidden debt, and acquisition of idle land and property.

    • Australia Q3 CPI forecast to show headline inflation returned to 2-3% target band for first time since Q1 2020. However, focus will be on underlying/trimmed mean inflation given distortion from energy subsidies. Inflation pullback not considered to have near-term policy implications with RBA focused on sustained disinflation. Also risk that hotter-than-expected print will prompt central bank to further delay inflation target timeline when forecasts updated next week.

  • Pre-open Company News:

    • 600699.CH -- Street Takeaways - Ningbo Joyson Electronic Q3 earnings

    • 601216.CH -- Inner Mongolia Junzheng Energy & Chemical Group reports Q3 operations data

    • 600663.CH -- Shanghai Lujiazui Finance & Trade Zone Development declares interim dividend CNY0.06288/share

    • 600535.CH -- FDA approves trial of Tasly Pharmaceutical's NR-20201 for acute ischemic stroke

    • 600143.CH -- Kingfa Sci. & Tech. reports Q3 net income attributable CNY303.2M, +1886.4% y/y

    • 600143.CH -- Kingfa Sci. & Tech. reports Q3 operating data

    • 002281.CH -- Accelink Technologies reports Q3 net income attributable CNY255.3M, +46% vs year-ago CNY175.2M

    • 168.HK -- Tsingtao Brewery reports Q3 net income attributable CNY1.35B vs FactSet CNY1.79B [1 est]

    • 600126.CH -- Hangzhou Iron & Steel reports 9M hot rolled coil production 3.3Mt, (7.6%) y/y

    • 3037.TT -- Unimicron Technology reports 9M EPS NT$3.30; StreetAccount notes year-ago NT$5.97

    • 603218.CH -- Riyue Heavy Industry reports Q3 net income attributable CNY85.0M, +38.0% y/y

    • 600916.CH -- China National Gold Group Gold Jewellery reports Q3 net income attributable CNY151.4M, (25.7%) y/y

    • 2196.HK -- Shanghai Fosun Pharmaceutical (Group) Co. reports Q3 net income attributable CNY785.8M, +55.4% y/y

    • 601098.CH -- China South Publishing & Media Group reports 9M revenue from book publishing business CNY491.6M vs year-ago CNY472.8M

    • 600919.CH -- Bank of Jiangsu reports Q3 net income attributable CNY9.50B, +10.1% y/y

  • On Deck:

    • China:

      • Earnings:

        • Jiangsu Yanghe Brewery Joint-Stock (002304.CH), Sungrow Power Supply (300274.CH), Jiangsu Goodwe Power Supply Technology (688390.CH), Hubei Energy Group (000883.CH)

    • Hong Kong:

      • Earnings:

        • COSCO SHIPPING Ports (1199.HK), HKBN Ltd. (1310.HK), CRRC Corp. (1766.HK), China Pacific Insurance (Group) (2601.HK), Guangshen Railway (525.HK), Air China (753.HK), China Datang Corp. Renewable Power (1798.HK), Maanshan Iron & Steel (323.HK)

    • Japan:

      • Economic:

        • 09:30 JST: Export NSA Y/Y (Final); consensus (1.7%)

        • 09:30 JST: Import NSA Y/Y (Final); consensus +2.1%

        • 09:30 JST: Trade Balance NSA (Final); consensus

      • Earnings:

        • Sojitz (2768.JP), Nomura Research Institute (4307.JP), Astellas Pharma (4503.JP), Sumitomo Pharma (4506.JP), CyberAgent (4751.JP), Hitachi (6501.JP), Alps Alpine (6770.JP), Advantest (6857.JP), Kyocera (6971.JP), Mitsubishi Motors (7211.JP), Kyudenko (1959.JP), Nisshin Seifun Group (2002.JP), Nihon M&A Center Holdings (2127.JP), M3 (2413.JP), Kagome (2811.JP), Sumitomo Chemical (4005.JP), Aica Kogyo Co. (4206.JP), Simplex Holdings (4373.JP), JCR Pharmaceuticals (4552.JP), Oriental Land (4661.JP), Toei Animation (4816.JP), Nippon Electric Glass (5214.JP), Daido Steel (5471.JP), ARE Holdings (5857.JP), LIXIL Corp. (5938.JP), Makita (6586.JP), Wacom Co. (6727.JP), Anritsu (6754.JP), TOKAI RIKA (6995.JP), Hokkoku Financial Holdings (7381.JP), Topcon (7732.JP), Paramount Bed Holdings (7817.JP), Okasan Securities Group (8609.JP), Nankai Electric Railway (9044.JP), Alps Logistics (9055.JP), Tokyo Electric Power Co. Holdings (9501.JP), The Kansai Electric Power (9503.JP), Hokuriku Electric Power (9505.JP), Tokyo Gas (9531.JP), TOHO GAS (9533.JP), Trusco Nakayama (9830.JP)

    • South Korea:

      • Earnings:

        • KIWOOM Securities (039490.KS), Hanwha Systems (272210.KS), POSCO (005490.KS), GS Engineering & Construction (006360.KS), HANWHA SOLUTIONS (009830.KS), Doosan Enerbility (034020.KS), BNK Financial Group (138930.KS), POSCO Future M Co. (003670.KS), Samsung Electronics (005930.KS), Hyundai GLOVIS Co. (086280.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: RBA Trimmed Mean CPI Q/Q; consensus

        • 11:30 AEST: CPI NSA Q/Q; consensus +0.3%

      • Earnings:

        • Bathurst Resources (BRL.AU), Coles Group (COL.AU), Woolworths Group (WOW.AU)

    • India:

      • Earnings:

        • Procter & Gamble Hygiene & Health Care (500459.IN), Larsen & Toubro (500510.IN), The New India Assurance (540769.IN), Vardhman Textiles (502986.IN), Carborundum Universal (513375.IN), DCM Shriram (523367.IN), Sterlite Technologies (532374.IN)

    • Singapore:

      • Earnings:

        • CapitaLand China Trust (AU8U.SP), ESR-LOGOS REIT (J91U.SP), CapitaLand Ascott Trust (HMN.SP), Wilmar International (F34.SP)

    • Taiwan:

      • Earnings:

        • Lite-On Technology (2301.TT), Realtek Semiconductor (2379.TT), MediaTek (2454.TT), Parade Technologies (4966.TT), Elite Material (2383.TT)

    • Thailand:

      • Earnings:

        • The Siam Cement Public (SCC.TB)

  • Market Data:

    • Gold (Dec 24): +$5.00 or +0.18% to $2786.10

    • WTI Crude (Dec 24): +$0.29 or +0.43% to $67.50

    • $-¥: (0.05) or (0.04%) to 153.2740

    • $-KRW: +0.31 or +0.02% to 1383.1300

    • A$-$: (0.00) or (0.36%) to 0.6559

    • $-INR: +0.01 or +0.02% to 84.0826

    • $-CNY: +0.00 or +0.06% to 7.1298

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