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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.57%, Hang Seng Futures (0.23%), ASX SPI 200 +0.23%, S&P Futures +0.07%

Jan 14 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Wednesday trade. Futures signalling opening gains in Japan and flat start in Hong Kong. Australia gaining in initial trade. S&P 500 futures up slightly afterhours following mixed Tuesday session. Australian and New Zealand bonds weakening after Treasury curve steepened overnight. FX markets flat after dollar retreated following earlier Trump tariff report. Crude recovering after pulling back from Oct-2024 high. Gold steady. Bitcoin flat after rising to one-week high.

    • US CPI the focus Wednesday with consensus looking for slight downtick in monthly core inflation though yearly rate seen holding at 3.3%. Data takes on added importance with Fed signalling higher hurdle for rate cuts. Concerns disinflationary progress stalling amid resilient US economy/labor market. Also lot of discussion lately about inflation risks from Trump 2.0 tariffs, all contributing to recent dialing back of Fed rate expectations (market pricing in just one 25 bp rate cut in 2025).

    • Overnight newsflow light with some focus on report Trump tariffs could be implemented gradually (though market impact was negligible). Biden administration finalized rules effectively banning Chinese autos from US market. In regional developments, South Korean political standoff continues with investigators making another attempt to arrest President Yoon Wednesday morning. Bloomberg sources noted RBI Governor Malhotra signalled willingness to tolerate more flexible rupee with currency at record low against dollar.

  • Pre-open Company News:

    • 1109.HK -- China Resources Land reports December gross contracted sales CNY32.0B, +52.4% y/y

    • 688012.CH -- Advanced Micro Fabrication Equipment Inc China guides FY net income attributable CNY1.50-1.70B vs FactSet CNY1.65B [21 est, CNY1.39-2.29B]

    • 600309.CH -- Wanhua Chemical Group downgraded to recommend from strong recommend at Founder Securities (timing uncertain)

    • Macquarie initiates 543330.IN, 543397.IN

    • JPMorgan upgrades GULF.TB; downgrades BGRIM.TB

    • Japan institutional investors more upbeat on domestic equity allocations:

    • 302440.KS -- SK bioscience Co. gets approval for Phase 3 clinical trial plan (IND) for 21-valent pneumococcal vaccine (GBP410) in South Korea

    • 541729.IN -- HDFC Asset Management reports Q3 standalone profit after tax INR6.41B vs StreetAccount INR6.00B

    • 1088.HK -- China Shenhua Energy reports December coal production 28.1Mt vs year-ago 27.7Mt

    • RGNX -- REGENXBIO, Nippon Shinyaku form partnership for development, commercialization of RGX-121, RGX-111

    • 600901.CH -- Jiangsu Financial Leasing chairman Xiong Xiangen resigns due to reaching retirement age

    • 300014.CH -- EVE Energy buys back 1.1% stake in subsidiary Hubei EVE Power from management and staff for CNY579.0M

    • C38U.SP -- CapitaLand Integrated Commercial Trust appoints Tan Choon Siang as Deputy CEO, effective 1-Feb

  • On Deck:

    • Hong Kong:

      • Earnings:

        • AuGroup (SHENZHEN) Cross-Border Business (2519.HK)

    • India:

      • Earnings:

        • Oracle Financial Services Software (532466.IN), CEAT Ltd (500878.IN), Bank of Maharashtra (532525.IN)

  • Market Data:

    • Gold (Feb 25): +$9.30 or +0.35% to $2691.60

    • WTI Crude (Feb 25): +$0.44 or +0.57% to $77.94

    • $-¥: +0.56 or +0.36% to 158.0440

    • $-KRW: (5.54) or (0.38%) to 1460.8400

    • A$-$: +0.00 or +0.22% to 0.6192

    • $-INR: (0.11) or (0.13%) to 86.5354

    • $-CNY: (0.00) or (0.01%) to 7.3310

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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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