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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.04%, Hang Seng Futures +0.11%, ASX SPI 200 +0.27%, S&P Futures (0.16%)

Nov 14 ,2024

  • Synopsis:

    • Asian markets set for positive start to Friday trade. Futures signaling opening gains in Japan and flat start in Hong Kong. ASX higher in initial trade. S&P 500 futures extending declines. Australian and New Zealand bonds strengthening, coming front-end Treasury yields rose further overnight. Dollar index up toward two-year high. Gold flat after retreating to two-month low. Copper at three-month low. Crude steady. Bitcoin back below $90K.

    • China activity data forecast to show modest increase in industrial production, retail sales and fixed asset investment growth last month. Recent October data mixed with manufacturing a positive but deflation pressures persisting, imports contracting and credit growth missing. Property data will also be eyed with real estate investment declines forecast to have narrowed slightly. Elsewhere, Japan Q3 GDP forecast to show slowdown from Q2 amid weakness in private consumption.

    • China tech earnings continue to roll through with Alibaba reporting today. Late Thursday JD.com reported tepid revenue growth amid ongoing consumer caution with its US ADRs ending 7% lower. China's internet platforms under notable pressure with Hang Seng Tech index down 8% week-to-date, near lowest since late September. Mixed earnings, geopolitical concerns and lingering stimulus disappointment among commonly cited drags.

    • Fed rate cut expectations wound back again. Odds of 25 bp December reduction fell to 55% from 80% a day earlier after Fed Chair Powell said central bank in no hurry to cut rates. Rate odds have fluctuated this week after in-line US CPI saw traders dial up probability of a December cut. Looking ahead however, economists see Fed moving more cautiously next year in light of reflation concerns stemming from Trump's election win.

  • Pre-open Company News:

    • 3382.JP -- Street Takeaways - Seven & i special committee received non-binding, confidential acquisition proposal from VP Junro Ito and Ito Kogyo

    • 9956.HK -- ANE (Cayman) reports Q3 adjusted net profit CNY218.5M, +28% vs year-ago CNY170.7M

    • GULF.F.TB -- Gulf Energy Development Public reports Q3 core profit THB4.71B, +12% vs year-ago THB4.20B

    • 000069.CH -- Shenzhen Overseas Chinese Town reports October contracted sales CNY3.03B

    • EA.TB -- Energy Absolute Public reports Q3 net income attributable THB421.6M vs year-ago THB1.96B

    • Jiangsu Guofu Hydrogen Energy Equipment prices 6M-share Hong Kong IPO at HK$65/share

    • CK.TB -- CH. Karnchang Public reports Q3 net income attributable THB1.01B vs FactSet THB794.3M [6 est, THB660-955M]

    • 501425.IN -- The Bombay Burmah Trading reports Q2 consolidated EPS (cont.ops) INR36.22 vs year-ago INR17.60

    • +WETO -- Webus International files amended S-1; now expects to offer 2.0M shares (up from prior 1.9M) priced in range of $4-5/sh through Network 1 Financial

    • MTC.TB -- Muangthai Capital Public upgraded to add from hold at CGS International

    • 531500.IN -- Rajesh Exports reports Q2 consolidated EPS INR1.54 vs year-ago INR1.53

    • 069620.KS -- Vitalli Bio to terminate global license agreement for DWP213388 with Daewoong Pharmaceutical

    • 175.HK -- Follow-up: Zeekr to acquire 20% interest in Lynk from Geely Holding for CNY3.6B

  • On Deck:

    • China:

      • Economic:

        • 10:00 CST: Industrial Output NSA Y/Y; consensus +5.6%

        • 10:00 CST: Retail Sales NSA Y/Y; consensus +3.8%

        • 10:00 CST: Fixed Asset Investment NSA Y/Y

    • Hong Kong:

      • Earnings:

        • Lenovo Group (992.HK), CSPC Pharmaceutical Group (1093.HK), Mobvista (1860.HK), GDS Holdings (9698.HK)

    • Japan:

      • Economic:

        • 08:50 JST: GDP SA Q/Q (Preliminary); consensus +0.3%

        • 08:50 JST: GDP SAAR Q/Q (Preliminary); consensus +1.2%

        • 08:50 JST: GDP Y/Y (Preliminary); consensus +0.6%

        • 13:30 JST: Industrial Production SA M/M (Final); consensus

        • 13:30 JST: Retail Sales NSA Y/Y (Final); consensus

      • Earnings:

        • Milbon (4919.JP), Shoei Co Ltd (7839) (7839.JP), Aozora Bank (8304.JP)

    • Malaysia:

      • Economic:

        • 23:00 EST: Current Account; consensus +MYR10.08B

        • 23:00 EST: GDP NSA Y/Y (Final); consensus +5.3%

      • Earnings:

        • CelcomDigi (6947.MK)

  • Market Data:

    • Gold (Dec 24): ($1.80) or (0.07%) to $2571.10

    • WTI Crude (Dec 24): ($0.08) or (0.12%) to $68.62

    • $-¥: +0.85 or +0.55% to 156.3360

    • $-KRW: (3.02) or (0.21%) to 1402.6900

    • A$-$: (0.00) or (0.57%) to 0.6450

    • $-INR: +0.03 or +0.03% to 84.4621

    • $-CNY: +0.00 or +0.07% to 7.2293

  • 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