Nov 04 ,2024
Synopsis:
Asian markets set for mixed start to Tuesday trade. Futures signaling opening gains in Japan as markets resume following Monday public holiday. Hang Seng futures flat as ASX opens lower. US contracts up marginally afterhours. Australian yield curve bear flattening ahead of RBA. FX markets steady after dollar retreated Monday amid partial unwind of Trump trades. Crude and gold flat. Bitcoin nudging higher after falling to lowest since late October.
RBA expected to leave cash rate unchanged. Messaging expected to reemphasize patience in face of sticky services inflation and tight labor market. Previews anticipate only minor tweaks to CPI forecasts with core inflation target timeline expected to remain at Dec-2025. Governor Bullock expected to repeat not ruling anything or out with respect to rates, though consensus remains next move will be rate cut in early 2025.
One day left before US election with race extremely close after slew of polls indicated Trump and Harris deadlocked in battleground states that will decide election. Trump still betting market favorite though his odds have narrowed over recent days after some polls favored Harris. Result may not be known on the day with market volatility expected until there is clearer visibility on which party wins control of White House and Congress.
Pre-open Company News:
543257.IN -- Indian Railway Finance reports Q2 EPS INR1.23 vs year-ago INR1.18
500470.IN -- StreetAccount Consensus Metrics Preview - Tata Steel Q2 Earnings
2362.HK -- Jinchuan Group International Resources reports 9M copper production 47.2Kt vs year-ago 48.2Kt
500002.IN -- ABB India reports Q3 standalone profit from continuing operations INR4.40B vs StreetAccount INR4.87B
6158.HK -- Zhenro Properties Group reports October contracted sales CNY558M; StreetAccount notes year-ago was CNY0.98B
600570.CH -- Hundsun Technologies launches CNY60.0-120.0M buyback programme at up-to-CNY37.4/share
3939.HK -- Zijin Mining Group discloses purchase of 165.6M shares in Wanguo Gold Group at HK$8.3/share
AWK.SP -- Fuxing China Group files amended F-1; increases size of offering to 1.5M ADS from 1.0M ADS
1934.JP -- Yurtec releases 2024 Integrated Report
+EPSM -- Epsium Enterprise files amended F-1; adds Benjamin Securities as underwriter
532725.IN -- Solar Industries India receives INR3.99B of orders for defense products from an international client to be delivered over three years
5274.TT -- ASPEED Technology reports October revenue NT$685.8M, +111.9% y/y
5274.TT -- ASPEED Technology reports 9M EPS NT$43.09; StreetAccount notes the year-ago figure was NT$18.46
3383.HK -- Agile Group Holdings reports October aggregated pre-sale value CNY1.39B; StreetAccount notes year-ago figure was CNY3.48B
On Deck:
Japan:
Earnings:
Tosoh Corp (4042.JP), Mercari (4385.JP), LY Corp. (4689.JP), Konica Minolta (4902.JP), Yamato Holdings (9064.JP), Kotobuki Spirits (2222.JP), Nichirei (2871.JP), Tokyu Fudosan (3289.JP), T-Gaia (3738.JP), KH Neochem (4189.JP), Sumitomo Bakelite (4203.JP), JMDC Inc (4483.JP), Kissei Pharmaceutical (4547.JP), USS Co. (4732.JP), FANCL Corp (4921.JP), Fujimi (5384.JP), Nitto Kogyo (6651.JP), MCJ Co. (6670.JP), Yokogawa Electric (6841.JP), Mitsubishi Heavy Industries (7011.JP), Zenkoku Hosho (7164.JP), Workman (7564.JP), Nintendo (7974.JP), AZ-COM Maruwa Holdings (9090.JP)
South Korea:
Economic:
08:00 KST: CPI M/M; consensus +0.2%
08:00 KST: CPI NSA Y/Y; consensus +1.4%
Earnings:
Hanwha (000880.KS), Lotte Chilsung Beverage (005300.KS), SKC Co. (011790.KS), kakaopay (377300.KS), KakaoBank (323410.KS)
Australia:
Economic:
14:30 AEST: RBA Official Cash Rate; consensus +4.35%
Earnings:
Goodman Group (GMG.AU)
India:
Earnings:
Titan (500114.IN), K.P.R. Mill (532889.IN), Sundram Fasteners (500403.IN), Alkyl Amines Chemicals (506767.IN), CCL Products (India) (519600.IN), Timken India (522113.IN), GAIL (India) (532155.IN), Saregama India (532163.IN), Triveni Engineering & Industries (532356.IN), eClerx Services (532927.IN), Oil India (533106.IN), Max Healthcare Institute (543220.IN), Aptus Value Housing Finance India (543335.IN), Chemplast Sanmar (543336.IN), PB Fintech (543390.IN)
Indonesia:
Economic:
11:00 SAST: GDP NSA Y/Y; consensus +5.1%
Singapore:
Earnings:
CapitaLand Integrated Commercial Trust (C38U.SP), AIMS APAC REIT (O5RU.SP), SIA Engineering (S59.SP)
Taiwan:
Earnings:
Vanguard International Semiconductor (5347.TT), Winbond Electronics (2344.TT), GlobalWafers (6488.TT), ChipMOS Technologies (8150.TT)
Thailand:
Economic:
07:00 SAST: CPI NSA Y/Y; consensus +0.8%
Earnings:
i-Tail Corp. Public Co. (ITC.TB)
Philippines:
Economic:
09:00 SST: CPI Y/Y; consensus +2.2%
Earnings:
International Container Terminal Services (ICT.PM)
Market Data:
Gold (Dec 24): ($0.80) or (0.03%) to $2745.40
WTI Crude (Dec 24): +$0.05 or +0.07% to $71.52
$-¥: (0.78) or (0.51%) to 152.2310
$-KRW: (7.26) or (0.53%) to 1373.1600
A$-$: +0.00 or +0.35% to 0.6583
$-INR: +0.06 or +0.07% to 84.1449
$-CNY: (0.02) or (0.35%) to 7.0978
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