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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.80%, Hang Seng Futures (0.64%), ASX SPI 200 +0.37%, S&P Futures +0.13%

Jan 21 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Wednesday trade. Futures signaling opening gains in Japan while Hang Seng futures lower. ASX extending gains in initial trade. US contracts edging higher with big tech strengthening afterhours following Trump AI announcement. Bonds mixed with Australian yields reversing higher while New Zealand rates lower following CPI. Dollar advancing following latest Trump comments on tariffs. Crude and gold flat. Bitcoin unchanged after coming off earlier lows.

    • Tariff headlines remain volatile after Trump said 10% tariff on China may begin on 1-Feb and reiterated threat to impose 25% tariffs on Mexico and Canada in coming weeks, citing fentanyl pouring into US. Follows similar Trump comments Monday about hitting Canada and Mexico with tariffs on 1-Feb. However, reports also highlighted how Trump may be using tariff threat for trade leverage while markets have also taken comfort from Trump's avoidance of day one tariffs in favor of trade investigations.

    • Trump holding another press conference Tuesday, announcing $500B 'Stargate' AI project involving OpenAI, SoftBank (9984.JP) and Oracle (ORCL). NFLX rallying after net subs blew past expectations. In macro developments, New Zealand Q4 inflation eased on a quarterly basis though yearly rate unchanged. Details showed domestic pricing pressures continuing to ease with non-tradeables inflation lowest since Q1 2021.

  • Pre-open Company News:

    • 500165.IN -- Kansai Nerolac Paints chairman Pradip P. Shah to retire after completing second term; effective 29-Jan

    • 002179.CH -- AVIC Jonhon Optronic Technology reports preliminary FY net income attributable CNY3.36B vs FactSet CNY3.49B [7 est, CNY3.12-3.68B]

    • 000519.CH -- North Industries Group Red Arrow guides FY net income attributable (CNY350.0-210.0M) vs FactSet (CNY50.0M) [1 est]

    • 9901.HK -- New Oriental Education & Technology Group reports Q2 non-GAAP EPADS $0.22 vs FactSet $0.30 [5 est, $0.28-0.32]

    • 002001.CH -- Zhejiang NHU guides FY net income attributable CNY5.80-6.20B vs FactSet CNY5.57B [8 est, CNY4.75-6.01B]

    • 002155.CH -- Hunan Gold guides FY net income attributable CNY782.6-929.3M vs year-ago CNY489.1M

    • M1GU.SP -- Sabana Industrial REIT sets 2H DPU at 1.52 SG cents/unit

    • 603986.CH -- Giga Device Semiconductor guides FY net income attributable CNY1.09B vs FactSet CNY1.10B [16 est, CNY956.3-1.21B]

    • 532505.IN -- UCO Bank guides FY25 credit growth 12-14%

    • 603501.CH -- Will Semiconductor Co Ltd Shanghai guides FY net income attributable CNY3.16-3.36B vs FactSet CNY3.34B [26 est, CNY3.17-3.52B]

    • 000960.CH -- Yunnan Tin guides FY net income attributable CNY1.42-1.52B vs FactSet CNY1.83B [5 est, CNY1.75-1.96B]

    • F17.SP -- GuocoLand JV's tender for a land parcel at Tengah Garden Ave, Singapore, accepted by URA at bid price SG$675.0M

  • On Deck:

    • China:

      • Economic:

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

    • South Korea:

      • Earnings:

        • Hyundai Steel (004020.KS)

    • Australia:

      • Earnings:

        • Iluka Resources (ILU.AU), Woodside Energy Group (WDS.AU)

    • India:

      • Earnings:

        • HDFC Bank (500180.IN), Hindustan Unilever (500696.IN), Vardhman Textiles (502986.IN), Elecon Engineering (505700.IN), Nuvoco Vistas (543334.IN), Pidilite Industries (500331.IN), Bharat Petroleum (500547.IN), Coforge (532541.IN), Housing & Urban Development (540530.IN), Polycab India (542652.IN), Laxmi Organic Industries (543277.IN)

    • Malaysia:

      • Economic:

        • 23:00 EST: CPI NSA Y/Y; consensus +1.8%

        • 02:00 EST: BN Overnight Policy Rate; consensus +3%

    • Singapore:

      • Earnings:

        • Frasers Centrepoint Trust (J69U.SP), Mapletree Industrial Trust (ME8U.SP)

  • Market Data:

    • Gold (Feb 25): ($2.50) or (0.09%) to $2756.70

    • WTI Crude (Feb 25): $0.00 or 0.00% to $75.89

    • $-¥: (0.58) or (0.37%) to 155.7300

    • $-KRW: (23.99) or (1.64%) to 1434.5700

    • A$-$: +0.01 or +1.07% to 0.6259

    • $-INR: (0.13) or (0.15%) to 86.4520

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

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