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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.03%), Hang Seng Futures +0.06%, ASX SPI 200 (0.01%), S&P Futures (0.52%)

Jan 09 ,2025

  • Synopsis:

    • Asia equities poised for muted open Friday, lacking signal value as US markets were closed for a day of mourning for former President Carter. Futures in Japan and Hong Kong little changed, while Australia advanced. European benchmarks were mostly higher with bonds mixed. US Treasuries little changed in 10y while 30y retreated. Dollar index resuming slightly higher amid yen strength and notable softness in Sterling. Crude oil futures higher (WTI up sharply), gold stronger, Bitcoin lower.

    • Most of the attention on Gilt/Sterling turbulence against the backdrop of broader weakness in developed bond markets. Central themes remain entrenched inflation, softening rate cut expectations, Trump tariff risks. UK exacerbated by fiscal policy scrutiny. Latest Fedspeak mostly cautious on further rate cuts based on limited progress in inflation. Attention now squarely on upcoming US employment data. Bloomberg consensus looks for non-farm payrolls growth of 165K following 227K in the prior month that was subject to volatility stemming from earlier special factors. Unemployment rate expected to remain steady at 4.2%.

    • China themes remained the main focus in Asia. PBOC's announcement of a record CNY60B ($8.2B) issuance of Hong Kong bills set for next week seen as a clear measure to defend yuan alongside firmer midpoint fixings, dampening the FX depreciation narrative. On US-China frictions, US Commerce Secretary Raimondo told press that China EV-related restrictions set to be finalized next week. Comes as CPCA estimated zero growth in China EV exports this year. Elsewhere, press indicated hawkish takeaways from BOJ branch manager meeting as regional economic assessment appeared encouraged by wage hike developments.

    • Regional macro calendar light to end the week. Japan household spending declines came in narrower than expected. Australia household spending also on deck after preceding retail sales growth somewhat disappointed. China credit data due for release in coming days with headline new loans forecast to log some sequential increase, though outstanding loan growth to edge lower.

  • Pre-open Company News:

    • 2603.TT -- Evergreen Marine reports December revenue NT$38.14B, +61.4% y/y

    • U14.SP -- UOL Group, Singapore Land completes 50% stake acquisition in Sydney property, deal announced 11-Oct

    • 532514.IN -- Indraprastha Gas notes 31% increase in domestic gas allocation, effective 16-Jan; expects positive impact on profitability

    • 1478.HK -- Q Technology (Group) reports December camera module sales 32.0M units, (23.1%) m/m, (10.7%) y/y

    • 500570.IN -- Quick Take - Strong JLR Q3 global wholesale volumes

    • 2344.TT -- Winbond Electronics reports December revenue NT$6.37B, (2.1%) y/y

    • 603019.CH -- Dawning Information Industry largest holder to sell up to 29.3M shares through block trade within three months

    • 6146.JP -- DISCO Corp. downgraded to neutral from outperform at Macquarie

    • 6136.JP -- OSG Corp discloses mid-term plan FY25-27; targets OPM of over 16% in FY27

    • 5880.TT -- Taiwan Cooperative Financial Holding reports December revenue NT$5.15B, +1.1% y/y

    • 5876.TT -- The Shanghai Commercial & Savings Bank reports December PBT NT$2.34B

    • 2324.TT -- Compal Electronics reports December revenue NT$64.06B, (7.9%) y/y

    • 002273.CH -- Zhejiang Crystal-optech guides FY net income attributable CNY1.00-1.12B vs FactSet CNY1.05B [13 est, CNY966.3-1.12B]

    • 2196.HK -- Shanghai Fosun Pharmaceutical (Group)'s drug registration application for fuvexilib citrate capsule (FCN-437c) accepted by NMPA

    • 2353.TT -- Acer Inc reports December revenue NT$24.55B, +3.7% y/y

  • On Deck:

    • China:

      • Economic:

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

        • 08:00 CST: M2 NSA Y/Y; consensus +7.3%

        • 08:00 CST: New Yuan Loans; consensus

    • Japan:

      • Economic:

        • 08:30 JST: Real Household Consumption Expenditure Y/Y; consensus

        • 08:30 JST: Real Household Income Y/Y; consensus

        • 08:50 JST: FX Reserves M/M; consensus

        • 14:00 JST: Leading Index (Preliminary); consensus

      • Earnings:

        • COSMOS Pharmaceutical (3349.JP), KOMEDA Holdings (3543.JP), Rorze Corp (6323.JP), Takeuchi Mfg. (6432.JP), YASKAWA Electric (6506.JP), Ryohin Keikaku (7453.JP), Kohnan Shoji (7516.JP), Life Corp. (8194.JP), AEON Co. (8267.JP), Tosei Corp (8923.JP), Nomura Co. (9716.JP), Yoshinoya Holdings (9861.JP), Belc Co. (9974.JP)

    • India:

      • Earnings:

        • Just Dial (535648.IN)

  • Market Data:

    • Gold (Feb 25): +$2.80 or +0.10% to $2693.60

    • WTI Crude (Feb 25): +$0.31 or +0.42% to $74.23

    • $-¥: (0.23) or (0.15%) to 158.1250

    • $-KRW: (8.19) or (0.56%) to 1449.9900

    • A$-$: (0.00) or (0.36%) to 0.6193

    • $-INR: +0.01 or +0.01% to 85.9207

    • $-CNY: (0.00) or (0.01%) to 7.3312

  • 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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