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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.10%, Hang Seng Futures +1.58%, ASX SPI 200 +0.64%, S&P Futures +0.46%

Jan 20 ,2025

  • Synopsis:

    • Asian markets set for positive start to Tuesday trade. Japan and Hong Kong tracking for opening gains with US contracts pushing higher on Trump tariff delay news (US markets closed Monday for MLK Jr Day). Bonds firming with Australian and New Zealand yields lower across the curve. Dollar saw largest daily drop in more than a year with tariff targets such as yuan, Peso and Canadian dollar logging biggest gains. Broad-based declines in commodities complex with crude, gold and copper all notably lower. Bitcoin down 6% from earlier highs.

    • Trump inaugurated as US president on Monday after which he is expected to sign flurry of executive orders ranging from southern border to energy. Some reprieve on tariffs with press reports noting Trump refraining from issuing immediate action in favor of an investigation into America's trading relationships with other countries. Would fit with recent press reports highlighting more deliberate approach to tariff implementation. Still, Trump vowed in his inaugural speech that tariffs were forthcoming.

    • Speaking Monday, China President Xi reiterated call for more proactive policies to sustain growth momentum into 2025. Also stressed need to maintain stability, become technologically self-reliant and deepen reforms. Xi's remarks come as attention increasingly shifts to March NPC, where focus is largely on size and scope of fiscal policies after authorities signaled looser policy stance in 2025. Markets also on watch for any near-term RRR cuts ahead of Lunar New Year holidays.

  • Pre-open Company News:

    • 590003.IN -- Karur Vysya Bank reports Q3 EPS INR6.16 vs FactSet INR6.05 [2 est, INR6.00-6.10]

    • 532885.IN -- Central Bank of India reports Q3 standalone EPS INR1.10 vs year-ago INR0.83

    • 603345.CH -- Anjoy Foods Group files for Hong Kong IPO through Goldman Sachs, CICC

    • 002439.CH -- Venustech Group guides FY net income attributable (CNY246.0-146.0M) vs FactSet CNY520.1M [9 est, CNY171.6-833M]

    • 500247.IN -- Kotak Mahindra Bank upgraded to buy from accumulate at Elara Capital

    • 002241.CH -- GoerTek Inc. unit Goertek Microelectronics files for Hong Kong IPO through CICC, China Securities International, CMB International, UBS

    • 517354.IN -- Havells India upgraded to add from neutral at YES Securities

    • 600161.CH -- Beijing Tiantan Biological Products reports preliminary FY net income attributable CNY1.55B vs FactSet CNY1.36B [4 est, CNY1.32-1.40B]

    • 500247.IN -- Kotak Mahindra Bank upgraded to buy from add at YES Securities

    • 532885.IN -- Follow up: Central Bank of India reports Q3 Net interest income INR35.40B, +12% vs year-ago INR31.52B

    • 533758.IN -- APL Apollo Tubes reports Q3 consolidated EPS INR7.82 vs FactSet INR7.44 [6 est, INR6.90-8.11]

    • 500116.IN -- IDBI Bank reports Q3 standalone EPS INR1.77 vs year-ago INR1.36

    • 267.HK -- CITIC Ltd guides FY net profit attributable to rise 1% y/y

    • 540065.IN -- RBL Bank assumed hold at BOB Capital Markets; prior rating was buy

  • On Deck:

    • China:

      • Economic:

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

    • Hong Kong:

      • Earnings:

        • East Buy Holding (1797.HK)

    • India:

      • Earnings:

        • UCO Bank (532505.IN), Tanla Platforms (532790.IN), ICICI Prudential Life Insurance (540133.IN), PNB Housing Finance (540173.IN), IndiaMART InterMESH (542726.IN), Tata Technologies (544028.IN), Aditya Birla Real Estate (500040.IN), KEI Industries (517569.IN), Dalmia Bharat (542216.IN)

    • Singapore:

      • Earnings:

        • Sabana Industrial REIT (M1GU.SP), Mapletree Logistics Trust (M44U.SP)

    • Taiwan:

      • Earnings:

        • United Microelectronics (2303.TT), Powertech Technology (6239.TT)

  • Market Data:

    • Gold (Feb 25): ($16.20) or (0.59%) to $2732.50

    • WTI Crude (Feb 25): ($1.04) or (1.34%) to $76.84

    • $-¥: (0.82) or (0.52%) to 155.4880

    • $-KRW: (16.01) or (1.10%) to 1442.5500

    • A$-$: +0.01 or +1.33% to 0.6275

    • $-INR: (0.39) or (0.46%) to 86.1853

    • $-CNY: (0.01) or (0.16%) to 7.3133

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