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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.39%, Hang Seng Futures +0.01%, ASX SPI 200 +0.71%, S&P Futures +0.02%

Dec 02 ,2024

  • Synopsis:

    • Asian markets set for positive start to Tuesday trade. Futures signaling opening gains in Japan and flat start in Hong Kong. ASX advancing in initial trade. S&P 500 futures flat after mostly positive Monday session. Australian and New Zealand strengthening after Treasury yields came off earlier highs. FX markets stead following broad dollar strength. Gold flat after recovering from worst levels. Crude remains range bound. Bitcoin failed at $100K.

    • As foreshadowed in press, US unveiled new controls on exports of AI and chip components to China and suppliers to Huawei. Measures less restrictive than earlier proposals mentioned in press though still enough to send shares of chipmaking equipment suppliers lower on Monday. Among Asian firms, Samsung and SK Hynix seen as likely affected by the curbs.

    • Monday Fedspeak leaned in direction of supporting another rate cut in December. NY Fed's Williams flagged more rate cuts likely, depending on data. Echoed Governor Waller earlier who said he is leaning toward a December cut. Market-implied odds of December cut back to ~70% following the remarks, while futures pricing in 1-2 rate cuts in through Mar-2025 with Fed officials voicing more support for gradual loosening.

  • Pre-open Company News:

    • Bernstein initiates 002466.CH, 003670.KS, 9696.HK

    • GILD -- EU Commission signs joint procurement contract for the purchase of up to 2.25M vials for COVID-19 treatment

    • 532343.IN -- TVS Motor unit SACL to sell injection moulded plastic division to Pricol Precision for INR2.15B

    • IMG.CN -- IAMGOLD exercise right to repurchase the 9.7% interest of the Côté Gold Mine that was transferred to Sumitomo Metal Mining Co. (5713.JP)

    • 1719.JP -- Hazama Ando releases 2024 sustainability report

    • 3533.TT -- Lotes Co. upgraded to outperform from hold at CLSA

    • 4911.JP -- Shiseido upgraded to outperform from hold at CLSA

    • GM -- GM and LG Energy Solution extend battery technology partnership to include prismatic cell development; GM to sell stake in Lansing Michigan Ultium plan to LGES

    • Seven & i's York Holdings enterprise value estimated at $3.6B:

    • 2601.HK -- China Pacific Insurance (Group) upgraded to buy from neutral at BofA

    • 9910.TT -- Feng Tay Enterprise upgraded to overweight from underweight at Morgan Stanley

    • 7581.JP -- Saizeriya reports November existing stores net sales +23.0% y/y

    • 601018.CH -- Ningbo Zhoushan Port reports November expected container throughput 4.1M units, +22.0% y/y

  • On Deck:

    • Australia:

      • Economic:

        • 11:30 AEST: Current Account Balance SA; consensus

    • India:

      • Earnings:

        • Swiggy (544285.IN)

  • Market Data:

    • Gold (Feb 25): +$6.00 or +0.23% to $2664.50

    • WTI Crude (Jan 25): +$0.01 or +0.01% to $68.11

    • $-¥: (0.05) or (0.03%) to 149.7040

    • $-KRW: +7.92 or +0.57% to 1403.4100

    • A$-$: (0.00) or (0.61%) to 0.6472

    • $-INR: +0.16 or +0.19% to 84.7171

    • $-CNY: +0.03 or +0.40% to 7.2706

  • 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