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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.82%, Hang Seng Futures (0.55%), ASX SPI 200 (0.36%), S&P Futures +0.05%

Dec 08 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Monday trade. Futures signaling opening gains in Japan and initial weakness in Hong Kong and Australia. S&P 500 futures flat. Australian bonds firming after Treasury curve bull steepened Friday following mixed US payrolls data. FX markets steady after dollar index briefly fell to one-month low. Crude and gold flat after logging weekly decline. Bitcoin holding above $100K.

    • Geopolitics a big weekend talking point after rebels overthrew Assad regime in Syria, completing a rapid-fire takeover that occurred largely without bloodshed. Global leaders praised Assad's overthrow though warned risk of instability. Press also highlighted the setback for Iran and Russia. However, development has been mostly ignored by markets to this point, particularly given no outside involvement and lack of implications for oil.

    • Political turmoil continues to loom over South Korean markets after opposition failed in their attempt to impeach President Yoon. However, opposition not giving up on push to remove Yoon, whose authority is under cloud after leader of ruling party said PM Han Duck-soo will assume day to day affairs. Political uncertainty seen prolonging market volatility though stabilization efforts by financial authorities have mitigated downside.

  • Pre-open Company News:

    • 688599.CH -- Trina Solar terminates plan to spin-off subsidiary Jiangsu Trina Solar Smart Distributed Energy for separate listing

    • 813.HK -- Shimao Group Holdings reports Novemeber contracted sales CNY2.72B; StreetAccount notes the year-ago figure was CNY2.43B

    • GILD -- Kite presents new data underscoring curative potential of Yescarta in relapsed/refractory large B-cell lymphoma at ASH

    • ROG.SW -- Five-year results confirm Genentech's Polivy combination therapy as new standard of care for previously untreated aggressive lymphoma

    • 3323.HK -- China National Building Material to buy back up to 841.7M shares at HK$4.03/sh

    • 002385.CH -- Beijing Dabeinong Technology Group sells 5% stake in Beijing Kings Nower Seed Science and Technology for CNY100M

    • Macquarie downgrades DOHOME.TB, GLOBAL.TB

    • SLC.AU -- Superloop to acquire 2,000km of fibre assests from Optus subsidiary for A$17.5M

    • 002385.CH -- Beijing Dabeinong Technology Group reports November pig sales volume 705K vs year-ago 694K

    • 7272.JP -- Yamaha Motor upgraded to overweight from neutral at JPMorgan

    • 6415.TT -- Silergy initiated buy at Fubon Securities

    • Morgan Stanley downgrades 2678.JP, 3064.JP

    • 1250.HK -- Shandong Hi-Speed New Energy Group to hold SGM on 24-Dec to vote on Shandong Hi-Speed Holdings Group transaction

    • Goldman Sachs downgrades 200.HK, 600754.CH

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: M2 NSA Y/Y; consensus +7.7%

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: Loan Growth Y/Y; consensus

        • 09:30 CST: PPI NSA Y/Y; consensus (3%)

        • 09:30 CST: CPI NSA Y/Y; consensus +0.4%

    • Japan:

      • Economic:

        • 08:50 JST: GDP SA Q/Q (Final); consensus +0.2%

        • 08:50 JST: Bank Loans NSA Y/Y; consensus

        • 08:50 JST: GDP SAAR Q/Q (Final); consensus +0.9%

        • 08:50 JST: GDP Y/Y (Final); consensus +0.2%

      • Earnings:

        • Kanamoto (9678.JP)

    • Taiwan:

      • Economic:

        • 16:00 TST: Export NSA Y/Y; consensus +8.1%

  • Market Data:

    • Gold (Feb 25): ($0.40) or (0.02%) to $2659.20

    • WTI Crude (Jan 25): +$0.13 or +0.19% to $67.33

    • $-¥: (0.04) or (0.03%) to 149.9650

    • $-KRW: (1.23) or (0.09%) to 1424.2500

    • A$-$: +0.00 or +0.18% to 0.6401

    • $-INR: (0.00) or (0.00%) to 84.6688

    • $-CNY: (0.00) or (0.00%) to 7.2704

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