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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.79%), Hang Seng Futures +0.22%, ASX SPI 200 +0.39%, S&P Futures +0.08%

Nov 27 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Thursday trade. Futures signaling opening declines in Japan and Hong Kong. ASX building on opening gains. S&P 500 futures flat after mostly risk-off session ahead of Thanksgiving holiday. Australian bonds strengthening after Treasuries firmed overnight. New Zealand yields also turning lower following post-RBNZ backup Wednesday. FX markets steady after dollar index fell to two-week low. Crude and gold flat. Bitcoin rebounded strongly from recent heavy selling.

    • Yen strength the main FX market development overnight after USDJPY rallied to one-month high. Nothing specific behind latest strength though press highlighted potential haven flows following Trump tariff threat. Rate dynamics another talking point with markets pricing in better-than-even chance of BOJ rate hike and Fed rate cut next month. However, also thoughts thin volumes and long unwinds ahead US Thanksgiving holiday inflating yen gains.

    • BOK expected to leave policy unchanged at Thursday's meeting following October's 25 bp rate cut. While last month's rate cut was accompanied by policymaker support for cautious approach to easing, economists anticipate dovish stance in 2025 amid South Korean economic weakness, Trump-related uncertainties, and benign inflation backdrop (inflation back to Jan-2021 low). Elsewhere, RBA Governor Bullock to remark Thursday evening, her comments coming after Australian underlying inflation strengthened in October.

    • Trump's latest economic picks portend more confrontational trade agenda. USTR nominee Jamieson Greer's past comments on China drawing attention, including on strategic decoupling and downgrading China's trade status, support for tariffs, and retaliation against Beijing for its coercive trade practices and threat to national security. Trump already fired opening salvo against China this week with threat of 10% tariffs over fentanyl importation, in addition to other tariffs that may be imposed.

  • Pre-open Company News:

    • 601233.CH -- Tongkun Group initiated overweight at China Merchants Securities (China) (timing uncertain)

    • 603160.CH -- Shenzhen Goodix Technology initiated buy at Northeast Securities (timing uncertain)

    • 000963.CH -- NMPA accepts submission of Huadong Medicine's marketing application for IM19 CAR-T cell injection for non-Hodgkin lymphoma

    • 0166.MK -- Inari Amertron reports Q1 EPS 0.6sen vs year-ago 2.3sen

    • 533150.IN -- Godrej Properties launches QIP at floor price INR2,727.44/share

    • 1310.HK -- HKBN Ltd. chairman Bradley Horwitz retires by rotation, with effect from conclusion of AGM

    • S68.SP -- Singapore Exchange downgraded to neutral from outperform at Macquarie

    • GLO.PM -- Globe Telecom enters into PHP3.0B term loan facility with Bank of the Philippine Islands

    • 032640.KS -- LG Uplus upgraded to buy from trading buy at Shinhan Securities

    • Autonomous Research initiates D05.SP, O39.SP, U11.SP

    • 883.HK -- CNOOC president Zhou Xinhuai steps down due to work commitments, effective today

    • 753.HK -- Air China completes CNY6.00B A-share private placement at CNY7.02/sh; deal announced 22-Dec-23

    • FLX -- BingEx reports Q3 GAAP EPS (CNY0.19) vs year-ago (CNY0.04)

    • China October domestic mobile phone shipments: 29.7M, +1.8% y/y

  • On Deck:

    • Hong Kong:

      • Earnings:

        • EC Healthcare (2138.HK), China Maple Leaf Educational Systems (1317.HK), Hao Tian International Construction Investment Group (1341.HK), China New Higher Education Group (2001.HK), Café de Coral Holdings (341.HK), Bosideng International Holdings (3998.HK), Wisdom Education International Holdings (6068.HK)

    • Japan:

      • Economic:

        • 09:30 JST: Import NSA Y/Y (Final); consensus

        • 09:30 JST: Export NSA Y/Y (Final); consensus

        • 09:30 JST: Trade Balance NSA (Final); consensus

    • South Korea:

      • Economic:

        • 11:10 KST: BoK Repo Rate; consensus +3.1%

    • Australia:

      • Economic:

        • 11:30 AEST: Capital Expenditure Q/Q; consensus

      • Earnings:

        • Select Harvests (SHV.AU)

    • Malaysia:

      • Earnings:

        • Sime Darby (4197.MK), IHH Healthcare (5225.MK), Axiata Group (6888.MK)

    • Taiwan:

      • Earnings:

        • Taishin Financial Holdings (2887.TT)

  • Market Data:

    • Gold (Dec 24): ($3.50) or (0.13%) to $2636.40

    • WTI Crude (Jan 25): +$0.08 or +0.12% to $68.80

    • $-¥: (1.92) or (1.26%) to 151.1560

    • $-KRW: (6.39) or (0.46%) to 1390.9300

    • A$-$: +0.00 or +0.31% to 0.6496

    • $-INR: +0.10 or +0.12% to 84.4203

    • $-CNY: (0.00) or (0.01%) to 7.2463

  • 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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