Nov 05 ,2024
Synopsis:
Asian markets set for mixed start to Wednesday trade. Futures pointing to opening gains in Japan while Hang Seng futures flat. ASX higher in initial trade. US contracts adding to gains after indexes ended solidly higher on Tuesday. Bond markets quiet after Treasuries saw some curve flattening. Dollar touch higher against yen, steady elsewhere. Commodity markets flat after choppy trading in crude and gold. Bitcoin flat after rebounding from late October lows.
US elections results will roll through over the day with polls suggesting very close race. However, Trump remains betting market favorite. Lot of talk about potential for drawn-out process that may not produce winner on the night. While market positioning points to volatility over coming days, eventual removal of election uncertainty has been mentioned as bullish driver for equities into year-end.
Nothing new from PBOC Governor Pan on Tuesday, who pledged to strengthen countercyclical support and maintain accommodative policy stance. Earlier, Premier Li noted ample space for fiscal and monetary policy. Markets remain attuned to China stimulus headlines as NPC Standing Committee meeting continues after initial press reports noted potential for multi-trillion-yuan local government debt swap program.
Pre-open Company News:
CEO.VN -- CEO Group reports Q3 net income VND48.83B, +73% vs year-ago VND28.20B
1918.HK -- Sunac China Holdings reports October contracted sales value CNY7.33B; StreetAccount notes the year-ago figure was CNY4.76B
2354.TT -- Foxconn Technology reports October revenue NT$6.57B, +21.8% y/y
509480.IN -- Berger Paints India reports Q2 consolidated EPS INR2.31 vs FactSet INR2.48 [5 est, INR2.30-2.60]
601021.CH -- Spring Airlines launches CNY150-300M share buyback at up to CNY60/share to run for 12 months
601636.CH -- Zhuzhou Kibing Group to acquire remaining 28.8% stake in Kibing Solar from minority shareholders in all-stock transaction at CNY4.83/share
000786.CH -- Beijing New Building Materials Public initiated buy at Southwest Securities (timing uncertain)
603939.CH -- Yifeng Pharmacy Chain upgraded to buy from overweight at Western Securities (timing uncertain)
532356.IN -- Triveni Engineering & Industries reports Q2 consolidated EPS (INR1.02) vs year-ago INR1.33
002050.CH -- Zhejiang Sanhua Intelligent Controls completes CNY319.92M buyback of 13.96M shares, 0.3741% of share capital
China October stock market trading turnover CNY35.678T vs month-ago CNY15.096T
036570.KS -- NCsoft downgraded to reduce from neutral at Nomura
1128.HK -- Wynn Macau downgraded to hold from buy at HSBC
BofA upgrades O39.SP, U11.SP; downgrades D05.SP
CPIX -- New study compares Caldolor (ibuprofen injection) to ketorolac
On Deck:
Hong Kong:
Earnings:
Link REIT (823.HK)
Japan:
Earnings:
DeNA Co. (2432.JP), JFE Holdings (5411.JP), Minebea Mitsumi (6479.JP), GS Yuasa (6674.JP), Sysmex (6869.JP), Casio Computer (6952.JP), IHI (7013.JP), Honda Motor (7267.JP), Yamaha Motor (7272.JP), BANDAI NAMCO Holdings (7832.JP), ITOCHU (8001.JP), KATITAS (8919.JP), Kyushu Railway (9142.JP), NTT DATA Group (9613.JP), Nissui (1332.JP), Ezaki Glico (2206.JP), SOHGO SECURITY SERVICES (2331.JP), Kakaku.com (2371.JP), Coca-Cola Bottlers Japan Holdings (2579.JP), Kikkoman (2801.JP), House Foods Group (2810.JP), Gunze Ltd (3002.JP), Daiwabo Holdings (3107.JP), Nippon Paper Industries (3863.JP), Central Glass Co. (4044.JP), Taiyo Holdings (4626.JP), Tokai Carbon (5301.JP), Yodogawa Steel Works (5451.JP), OSAKA Titanium Technologies (5726.JP), Bunka Shutter (5930.JP), Fuji Corp (Machinery) (6134.JP), DAIKIN INDUSTRIES (6367.JP), Daihen (6622.JP), OMRON (6645.JP), Elecom (6750.JP), Meiko Electronics (6787.JP), Ushio Inc (6925.JP), Nishi-Nippon Financial Holdings (7189.JP), Toyota Motor (7203.JP), Net One Systems (7518.JP), Tamron (7740.JP), Pilot Corp (7846.JP), Okamura (7994.JP), Nagase & Co. (8012.JP), Kaga Electronics (8154.JP), H2O Retailing (8242.JP), K's Holdings (8282.JP), Mizuho Leasing (8425.JP), Tobu Railway (9001.JP), Keio Corp (9008.JP), Fuji Kyuko (9010.JP), Nippon Yusen (9101.JP), SKY Perfect JSAT Holdings (9412.JP), Nitori Holdings (9843.JP)
South Korea:
Earnings:
KakaoBank (323410.KS), SK Telecom (017670.KS), Mirae Asset Securities Co. (006800.KS), Kakao (035720.KS)
India:
Earnings:
Trident (521064.IN), Sonata Software (532221.IN), Jindal Steel & Power (532286.IN), Granules India (532482.IN), Blue Star (500067.IN), Chambal Fertilisers & Chemicals (500085.IN), Kansai Nerolac Paints (500165.IN), JK Lakshmi Cement (500380.IN), Tata Steel (500470.IN), JB Chemicals & Pharmaceuticals (506943.IN), Apollo Hospitals Enterprise (508869.IN), Usha Martin (517146.IN), FDC Ltd (531599.IN), Power Grid Corp. of India (532898.IN), Gujarat Pipavav Port (533248.IN), Gujarat Gas (539336.IN), Endurance Technologies (540153.IN), RITES Ltd (541556.IN), Brookfield India Real Estate Trust (543261.IN)
Malaysia:
Economic:
02:00 EST: BN Overnight Policy Rate; consensus +3%
Singapore:
Earnings:
Frasers Logistics & Commercial Trust (BUOU.SP), Singapore Post (S08.SP), CapitaLand Investment (9CI.SP), DBS Group Holdings (D05.SP), Nanofilm Technologies International (MZH.SP)
Taiwan:
Economic:
16:00 TST: CPI NSA Y/Y; consensus +1.7%
Earnings:
Chunghwa Telecom (2412.TT), Catcher Technology (2474.TT), E.SUN Financial Holding (2884.TT), Nien Made Enterprise Co. (8464.TT)
Thailand:
Economic:
07:00 SAST: CPI NSA Y/Y; consensus
Earnings:
Thai Union Group Public (TU.TB)
Philippines:
Earnings:
Ayala Land (ALI.PM)
Market Data:
Gold (Dec 24): +$2.80 or +0.10% to $2752.50
WTI Crude (Dec 24): +$0.11 or +0.15% to $72.10
$-¥: (0.30) or (0.20%) to 151.7910
$-KRW: +3.38 or +0.25% to 1377.4100
A$-$: +0.00 or +0.68% to 0.6629
$-INR: (0.06) or (0.07%) to 84.1107
$-CNY: +0.00 or +0.07% to 7.1041
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