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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.45%, Hang Seng Futures +1.03%, ASX SPI 200 +0.71%, S&P Futures +0.31%

Dec 22 ,2024

  • Synopsis:

    • Asian markets set for positive start to Monday trade. Futures signaling opening gains in Japan and Hong Kong. ASX strengthening in early trade. S&P 500 futures gaining after US indexes logged steep weekly declines. Australian bonds rebounding after Treasury curve flattened following recent run-up in yields. Dollar index eased from two-year high, though notably stronger against yen. Crude steady after pulling back below $70. Gold flat following 1% weekly drop. Bitcoin extending retreat from last week's highs, nearing month-to-date low.

    • Yen remains volatile after falling to lowest against dollar since July. Dovish takeaways from BOJ meeting saw rate hike expectations slipping to April. Meanwhile, hawkish Fed rate cut has brought more attention on US-Japan yield gap. Yen weakness invited ramp in verbal intervention with Finance Minister Kato expressing deep concern and repeating threat to take appropriate action.

    • Markets enter holiday stretch following bruising week punctuated by a December Fed meeting that prompted a hawkish repricing of rate path. Related surge in bond yields and dollar has also permeated globally. Stretched sentiment/positioning thought to have exacerbated downside following post-election run-up. Around Asia, some focus has been on FX weakness, subdued China growth and stimulus disappointment, and South Korean political turmoil.

  • Pre-open Company News:

    • 3349.JP -- COSMOS Pharmaceutical upgraded to outperform from neutral at Macquarie

    • 539448.IN -- InterGlobe Aviation upgraded to buy from sell at Elara Capital

    • TOP.TB -- Thai Oil Public downgraded to underweight from neutral at JPMorgan

    • 005930.KS -- Samsung Electronics confirms receipt of $4.75B (KRW6.863T) CHIPS Act grant from US Department of Commerce

    • 542760.IN -- SWREL secures domestic order valued at approx. INR1,200 crore

    • IGO.AU -- IGO Limited does not expect TLEA to be in a position to pay a dividend to shareholders during FY25

    • 2257.HK -- Sirnaomics Chair, President and Chief Scientific Officer Patrick Lu to retire from his positions, effective 20-Dec

    • 068270.KS -- Celltrion obtaines product approval from Korea's MFDS for Aptozuma (CT-P47, Actemra biosimilar)

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Foreign Direct Investment Y/Y; consensus

    • Japan:

      • Earnings:

        • SHIMAMURA (8227.JP), Ichibanya (7630.JP), Zojirushi (7965.JP)

  • Market Data:

    • Gold (Feb 25): ($5.30) or (0.20%) to $2639.80

    • WTI Crude (Feb 25): +$0.12 or +0.17% to $69.58

    • $-¥: +0.04 or +0.03% to 156.4540

    • $-KRW: (2.27) or (0.16%) to 1444.0900

    • A$-$: +0.00 or +0.04% to 0.6253

    • $-INR: (0.01) or (0.01%) to 84.9399

    • $-CNY: (0.00) or (0.01%) to 7.2956

  • 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.
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