Nov 25 ,2024
Synopsis:
Asian markets set for positive start to Tuesday trade. Futures signaling opening gains in Japan and Hong Kong. Australia flat in initial trade. S&P 500 futures adding to gains afterhours. Australian and New Zealand bond yields continuing to pull lower after Treasuries firmed following Bessent's nomination. Dollar index retreated from two-year high, though yen and yuan didn't see much upside. Crude and gold nursing heavy losses following last week's rally. Bitcoin sold off sharply after failing at $100K.
Bond rally the notable market development overnight following Scott Bessent's nomination as Treasury Secretary. Takeaways highlighted his past comments in support of fiscal restraint following pickup in concerns about Trump's policies worsening deficits/debt. Also some attention to Bessent's nuanced views on tariffs after he described them as negotiating leverage and recommended layering them in gradually.
Adani indictment fallout continues after Adani Green sold off further on Monday, hitting one-year low. Adani dollar bonds also under pressure with notes sliding to one-year low. In latest development, TotalEnergies paused further investments in Adani companies until there is further clarity. Press have also highlighted how allegations threaten tio put Adani's overseas investment plans under cloud with group also facing potential financing constraints.
Pre-open Company News:
603056.CH -- Deppon Logistics's controlling shareholder JD.com to buy CNY300-600M shares on market within 12 months
1773.HK -- Tianli International Holdings reports FY adjusted net income CNY577.4M vs guidance CNY577.0M; FactSet CNY640M
517569.IN -- KEI Industries launches QIP at floor price INR3,880.54/share
1808.JP -- HASEKO upgraded to outperform from hold at CLSA
9697.JP -- Capcom downgraded to neutral from buy at SBI Securities Japan
S08.SP -- Singapore Post initiated buy at Maybank Investment Bank
6920.JP -- Lasertec downgraded to neutral from outperform at Macquarie
4521.JP -- Kaken Pharmaceutical initiated overweight at Morgan Stanley
HSAI -- Hesai Group reports Q3 EPS (CNY0.54) vs year-ago (CNY1.13)
9660.HK -- Horizon Robotics initiated overweight at Guotai Junan (25-Nov, timing uncertain)
600909.CH -- HuaAn Securities proposes CNY100.0-200.0M on-market buyback for up to 21.4M shares, to run for three months
2380.HK -- China Power International Development reports October total electricity sold 9.8M MWh vs year-ago 8.1M MWh
1066.MK -- RHB Bank to divest ~99.95% of RHB Securities (Thailand) to Phillip Brokerage for THB1.25B (MYR161.81M)
On Deck:
Hong Kong:
Earnings:
Chow Tai Fook Jewellery Group (1929.HK), Zhihu, Inc. (2390.HK), Vitasoy International Holdings (345.HK), Luk Fook Holdings (International) (590.HK)
India:
Earnings:
Siemens (500550.IN)
Malaysia:
Earnings:
Kuala Lumpur Kepong (2445.MK), Telekom Malaysia (4863.MK)
Market Data:
Gold (Dec 24): +$7.90 or +0.30% to $2626.40
WTI Crude (Jan 25): ($0.11) or (0.16%) to $68.83
$-¥: (0.66) or (0.43%) to 154.0800
$-KRW: (7.30) or (0.52%) to 1397.1400
A$-$: (0.00) or (0.20%) to 0.6490
$-INR: (0.06) or (0.07%) to 84.3774
$-CNY: +0.00 or +0.04% to 7.2460
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