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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.21%), Hang Seng Futures +0.36%, ASX SPI 200 (0.47%), S&P Futures +0.25%

Nov 28 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Friday trade. Futures signaling small opening decline in Japan and Hong Kong. ASX also weaker in initial trade. European markets advanced overnight while US was closed for Thanksgiving. S&P 500 futures remain higher following Wednesday's close. Australian bond yields nudging higher following Governor Bullock's speech Thursday. Yen and Aussie firming against dollar. Crude and gold futures little changed. Bitcoin pulled back from Thursday highs.

    • Economic calendar somewhat busy. Tokyo CPI showed core inflation rose by more than expected to above 2% target, though ex-energy series held below 2%. Industrial production and retail sales growth forecast to have strengthened. On weekend, Chin official PMIs expected to show further pickup in manufacturing and non-manufacturing growth this month. South Korean export growth forecast to have slowed further amid weakness in auto shipments.

    • In speech Thursday evening, RBA Governor Bullock noted underlying inflation too high to consider rate cut in near-term. Comments came after monthly Australian CPI showed pickup in underlying inflation, reinforcing notion RBA still some ways before considering a dovish pivot and consistent with this view, markets not pricing in a reduction until May 2025. Economist rate cut expectations vary between February and May.

    • Takeaways from BOK's surprise 25 bp rate cut to 3.00% Thursday leaned dovish. Economists noted central bank's increasing emphasis on supporting growth amid downside risks (from trade tensions), while FX and household debt seen as less significant policy constraints. Multiple economists saw BOK rate cuts proceeding more quickly in 2025 with deeper trough to 2.25%, though few saw central bank pausing in January.

  • Pre-open Company News:

    • 1513.HK -- Livzon Pharmaceutical board approves CNY600.0M-1.00B A-share buyback at not more than CNY45/share

    • 345.HK -- Vitasoy International Holdings holder Kuang Ming Investments discloses purchase of 2.3M shares on 25-Nov

    • 506401.IN -- Deepak Nitrite releases sustainability report

    • COM7.TB -- Com7 Public downgraded to hold from buy at DBS Group

    • 500087.IN -- Cipla Ltd upgraded to buy from accumulate at Prabhudas Lilladher

    • LLC.AU -- Lendlease Group issues update on completion of Communities transaction, reaffirms FY EPS guidance A$0.54-0.62 vs FactSet A$0.59 [5 est, A$0.56-0.63]

    • 7342.JP -- Mitsubishi UFJ Financial responds to media reports; group is reviewing acquisition of WealthNavi

    • 600699.CH -- Ningbo Joyson Electronic upgraded to buy at Phillip Capital

    • 000963.CH -- Huadong Medicine receives US FDA approval for phase I clinical trial of HDM1005 injection for treatment of obstructive sleep apnea in obese or overweight patients

    • 2887.TT -- Taishin Financial Holdings reports 9M EPS NT$1.17; StreetAccount notes the year-ago figure was NT$0.85

    • 6068.HK -- Wisdom Education International Holdings reports FY core net income CNY40.7M vs year-ago CNY122.6M

    • 4715.MK -- Genting Malaysia reports Q3 EPS 10.0sen vs year-ago 3.1sen

    • 500488.IN -- Abbott India launches 14 valent pneumococcal conjugate vaccine for children over 6 weeks of age

    • 512.HK -- Grand Pharma doses first patient in TLX250-CDx phase III trial for diagnosis of ccRCC

  • On Deck:

    • Hong Kong:

      • Earnings:

        • Meituan (3690.HK), MINISO Group Holding (9896.HK), XJ International Holdings Co. (1765.HK), XJ International Holdings Co. (1765.HK), China Kepei Education Group (1890.HK), China Chunlai Education Group (1969.HK), China Gas Holdings (384.HK), L.K. Technology Holdings (558.HK), Tongdao Liepin Group (6100.HK), China YuHua Education (6169.HK), Arrail Group (6639.HK), China Water Affairs Group (855.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Industrial Production SA M/M (Preliminary); consensus +4%

        • 08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +1.5%

        • 14:00 JST: Housing Starts NSA Y/Y; consensus (0.9%)

      • Earnings:

        • Tri Chemical Laboratories (4369.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Private Sector Credit M/M; consensus

    • India:

      • Economic:

        • 05:30 IST: GDP NSA Y/Y; consensus +6.6%

    • Taiwan:

      • Economic:

        • 16:00 TST: GDP NSA Y/Y (Final); consensus +4%

  • Market Data:

    • Gold (Dec 24): ($2.80) or (0.11%) to $2662.00

    • WTI Crude (Jan 25): +$0.09 or +0.13% to $68.81

    • $-¥: (0.00) or (0.00%) to 151.1100

    • $-KRW: +1.19 or +0.09% to 1392.5100

    • A$-$: +0.00 or +0.08% to 0.6504

    • $-INR: +0.04 or +0.04% to 84.4721

    • $-CNY: (0.00) or (0.05%) to 7.2432

  • 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
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