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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.13%, Hang Seng Futures +1.08%, ASX SPI 200 +1.08%, S&P Futures +0.03%

Nov 07 ,2024

  • Synopsis:

    • Asian markets set for positive start to Friday trade. Futures signaling opening gains of ~1% in Japan and Hong Kong. ASX also higher in initial trade. S&P 500 futures flat after adding to post-election rally on Thursday. Australian and New Zealand bonds rebounding after Treasuries firmed across the curve. FX markets steady after dollar retreated following its best session in two years. Crude a touch off overnight highs while gold steady after recovering from prior session's selloff. Bitcoin fluctuating near record high.

    • Markets on China stimulus watch as NPC Standing Committee Meeting concludes today. Other than headline figure, focus will be on stimulus composition after economists called for stronger measures to boost consumption. Few press leaks so far other than initial reports highlighting multi-trillion-yuan local government debt swap policy. Source reports previously noted potential for authorities to unveil larger stimulus if Trump won.

    • Dollar strength and Treasury yield backup has heightened scrutiny on Asian currencies this week. PBOC set yuan midpoint at weakest since late 2023 on Thursday, while widening US yield premium has put yen under further pressure. Conversely, Emerging Asia FX depreciation has prompted talk about potential for renewed inflation concerns to dampen rate cut expectations.

    • Fed cut interest rates by 25 bp as expected with statement containing few changes. Chair Powell batted away Trump questions, saying Fed not assuming anything yet about his policies and that he would not resign if asked. Markets still pricing in another rate cut in December though easing expectations for 2025 have wound back a bit as Trump's win drove discussion about his policies driving stronger growth and higher inflation.

  • Pre-open Company News:

    • 603858.CH -- Shandong Buchang Pharmaceuticals completes CNY712.4M buyback, total shares repurchased 44.9M

    • 2376.TT -- Gigabyte Technology reports October revenue NT$25.77B, +53.7% y/y

    • SK6U.SP -- PARAGON REIT Q3 business update: YTD gross revenue SG$223.0M, +3% vs year-ago SG$215.6M

    • 531162.IN -- Emami Ltd reports Q2 consolidated EPS INR4.87 vs FactSet INR4.35 [6 est, INR4.10-4.80]

    • 002673.CH -- Western Securities to acquire 64.6% stake in Guorong Securities for CNY3.82B at CNY3.3217/share

    • TCAP.P.TB -- Thanachart Capital signs MOU for sale of its 90.0% stake in Thanachart Securities to TMBThanachart Bank

    • 541956.IN -- IRCON International reports Q2 standalone EPS INR2.15 vs year-ago INR2.45

    • ACHR -- Archer Aviation signs agreements with Soracle Corp, which includes orders of up to $500M

    • NBIX -- Neurocrine Biosciences presents new KINECT-HD data showing consistent efficacy across 19 subgroups and improvements in aspects of emotional health with INGREZZA (valbenazine) capsules

    • 540678.IN -- Cochin Shipyard reports Q2 standalone EPS INR7.34 vs year-ago INR7.26

    • G13.SP -- Genting Singapore downgraded to neutral from overweight at JPMorgan

    • 532221.IN -- Sonata Software upgraded to buy from add at Avendus Spark

    • 002601.CH -- LB Group upgraded to buy at Citic Securities

    • 532286.IN -- Jindal Steel & Power downgraded to add from long at Equirus Securities

    • 6305.JP -- Hitachi Construction Machinery downgraded to neutral from outperform at Daiwa

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: M2 NSA Y/Y; consensus +6.9%

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: Loan Growth Y/Y; consensus

    • Japan:

      • Economic:

        • 08:30 JST: Real Household Consumption Expenditure Y/Y; consensus

        • 08:30 JST: Real Household Income Y/Y; consensus

        • 08:50 JST: FX Reserves M/M; consensus

        • 14:00 JST: Leading Index (Preliminary); consensus

      • Earnings:

        • Sumitomo Rubber Industries (5110.JP), Mitsubishi Gas Chemical (4182.JP), Eisai (4523.JP), Kansai Paint (4613.JP), Nippon Sheet Glass (5202.JP), Kubota (6326.JP), Brother Industries (6448.JP), Sony (6758.JP), Hamamatsu Photonics KK (6965.JP), Suzuki Motor (7269.JP), Olympus (7733.JP), Ricoh Co. (7752.JP), SBI Holdings (8473.JP), ORIX (8591.JP), SG Holdings (9143.JP), TBS Holdings (9401.JP), SoftBank Corp (9434.JP), Kyoritsu Maintenance (9616.JP), Square Enix Holdings (9684.JP), Mitsui Matsushima Holdings (1518.JP), COMSYS Holdings (1721.JP), Nishimatsu Construction Co. (1820.JP), EXEO Group (1951.JP), DAI-DAN Co. (1980.JP), MIXI, Inc. (2121.JP), Open Up Group (2154.JP), Morinaga Milk Industry (2264.JP), Takara Holdings (2531.JP), The Nisshin OilliO Group (2602.JP), McDonald's Holdings (2702.JP), ARIAKE JAPAN (2815.JP), Toyo Suisan Kaisha (2875.JP), The Monogatari (3097.JP), Unitika (3103.JP), SHIP HEALTHCARE HOLDINGS (3360.JP), SUMCO (3436.JP), Food & Life Companies (3563.JP), Internet Initiative Japan (3774.JP), OSAKA SODA (4046.JP), Denka Co. (4061.JP), Nihon Parkerizing (4095.JP), Kaken Pharmaceutical (4521.JP), H.U. Group Holdings (4544.JP), artience (4634.JP), ROUND ONE (4680.JP), JustSystems (4686.JP), BML Inc (4694.JP), Fullcast Holdings (4848.JP), Noevir Holdings (4928.JP), T. Hasegawa (4958.JP), Kobayashi Pharmaceutical (4967.JP), Takara Bio (4974.JP), Mitsuboshi Belting (5192.JP), Maruichi Steel Tube (5463.JP), Pacific Metals (5541.JP), The Japan Steel Works (5631.JP), Mitsui Mining & Smelting (5706.JP), Mitsubishi Materials (5711.JP), Iyogin Holdings (5830.JP), Shizuoka Financial Group (5831.JP), Chugin Financial Group (5832.JP), Toyo Seikan Group Holdings (5901.JP), TAKUMA (6013.JP), Shibuya (6340.JP), Daifuku (6383.JP), Fujitec (6406.JP), Heiwa Corp (6412.JP), Sega Sammy Holdings (6460.JP), KITZ Corp (6498.JP), Sinfonia Technology (6507.JP), Toshiba Tec (6588.JP), Hosiden (6804.JP), Azbil Corp (6845.JP), JEOL Ltd (6951.JP), Kawasaki Heavy Industries (7012.JP), First Bank of Toyama (7184.JP), TS TECH (7313.JP), Daishi Hokuetsu Financial Group (7327.JP), Hirogin Holdings (7337.JP), Colowide (7616.JP), Riken Keiki (7734.JP), Noritsu Koki (7744.JP), A&D Holon Holdings (7745.JP), ASICS Corp (7936.JP), Mizuno (8022.JP), Hanwa Co. (8078.JP), Nipro (8086.JP), Unicharm (8113.JP), Descente (8114.JP), Toho Holdings (8129.JP), Sangetsu (8130.JP), MOS FOOD SERVICES (8153.JP), The 77 Bank (8341.JP), The Hachijuni Bank (8359.JP), The Ogaki Kyoritsu Bank (8361.JP), The Hyakugo Bank (8368.JP), The Awa Bank (8388.JP), Seven Bank (8410.JP), Yamaguchi Financial Group (8418.JP), Fuyo General Lease (8424.JP), Tokyo Century (8439.JP), AIFUL Corp (8515.JP), Mitsui Fudosan (8801.JP), Sumitomo Realty & Development (8830.JP), Leopalace21 (8848.JP), Starts (8850.JP), Tokyu Corp (9005.JP), Keikyu (9006.JP), Keihan Holdings (9045.JP), Nagoya Railroad (9048.JP), NIKKON Holdings (9072.JP), MITSUI-SOKO HOLDINGS (9302.JP), Daiei Kankyo (9336.JP), TV Asahi Holdings (9409.JP), eREX Co. (9517.JP), Japan Airport Terminal (9706.JP), Fujita Kanko (9722.JP), SECOM Co. (9735.JP), Funai Soken Holdings (9757.JP), Yamada Holdings (9831.JP), Kato Sangyo (9869.JP)

    • South Korea:

      • Earnings:

        • KT (030200.KS), NAVER (035420.KS), LIG Nex1 (079550.KS)

    • New Zealand:

      • Earnings:

        • Warehouse Group (WHS.NZ)

    • India:

      • Earnings:

        • State Bank of India (500112.IN), MRF Ltd (500290.IN), Safari Industries (India) (523025.IN), AARTI Industries (524208.IN), Welspun Corp. (532144.IN), Fortis Healthcare (532843.IN), Equitas Small Finance Bank (543243.IN), C.E. Info Systems (543425.IN), Motherson Sumi Wiring India (543498.IN), Life Insurance Corp. of India (543526.IN), Ola Electric Mobility (544225.IN), Fine Organic Industries (541557.IN), Action Construction Equipment (532762.IN), ZF Commercial Vehicle Control Systems India (533023.IN), Jupiter Wagons (533272.IN), Metropolis Healthcare (542650.IN), SignatureGlobal (India) (543990.IN)

    • Singapore:

      • Earnings:

        • Oversea-Chinese Banking Corp. (O39.SP), United Overseas Bank Ltd. (Singapore) (U11.SP), Singapore Airlines (C6L.SP), Fraser & Neave (F99.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: Export NSA Y/Y; consensus +9.5%

      • Earnings:

        • Formosa Chemicals & Fibre (1326.TT), Walsin Lihwa (1605.TT), ASUSTek Computer (2357.TT), King Yuan Electronics (2449.TT), Jentech Precision Industrial (3653.TT), Giant Manufacturing (9921.TT), Asia Cement (1102.TT), The Shanghai Commercial & Savings Bank (5876.TT)

    • Thailand:

      • Earnings:

        • Thai Oil Public (TOP.TB)

  • Market Data:

    • Gold (Dec 24): +$7.60 or +0.28% to $2713.40

    • WTI Crude (Dec 24): ($0.17) or (0.23%) to $72.19

    • $-¥: (1.59) or (1.03%) to 153.0230

    • $-KRW: (20.03) or (1.43%) to 1381.7900

    • A$-$: +0.01 or +1.59% to 0.6674

    • $-INR: (0.11) or (0.13%) to 84.3043

    • $-CNY: (0.03) or (0.47%) to 7.1416

  • 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:
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