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StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.36%, Hang Seng Futures +0.24%, ASX SPI 200 (0.12%), S&P Futures (0.49%)

Jan 26 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Monday trade. Futures pointing to opening gains in Japan and Hong Kong. ASX closed for public holiday. US contracts weakening with Nasdaq futures down 1%. New Zealand yields down slightly after Treasuries firmed on Friday. Dollar steady following Trump's Colombia tariff threat with Mexican peso recouping earlier losses. Crude extending declines following ~4% weekly drop. Metals also lower. Bitcoin steady.

    • Tariff headlines remain volatile after Trump announced tariffs, travel bans and sanctions on Colombia after President Petro refused landing permission for military plane carrying illegal immigrants. Petro also announced retaliatory tariffs. However, situation remains fluid with two sides reportedly in talks about a solution. While markets took some comfort from lack of tariff action last week, latest development reinforce Trump's propensity to wield tariffs in foreign policy/geopolitical context.

    • China official PMIs forecast to show unchanged manufacturing activity and negligible change in non-manufacturing activity this month. December PMIs were mixed with factory activity slowing though non-manufacturing growth at fastest pace since March. December activity figures and Q4 GDP seen as indicative of stabilizing economy towards end of 2024. Attention has already turned to March NPC and forthcoming stimulus announcements amid concerns about sustainability of recent economic stabilization.

    • In other developments, South Korea media report President Yoon charged with insurrection by prosecutors ahead of scheduled release from detention Monday. China announced fresh efforts to boost equities with significant increase in scale and proportion of index investment in capital market. Trump said in talks with people about buying TikTok with decision likely in next 30 days. In corporate news, Nikkei reported SoftBank planning talks with Apollo Global Management about Stargate funding.

    • FOMC meeting (Wed) headlines this week's economic calendar with no change expected to interest rates. BOC (Wed) and ECB (Thurs) expected to cut interest rates by 25 bp. Australia December and Q4 CPI (Wed) loom as pivotal data points in shaping near-term RBA rate cut expectations. Tokyo January CPI (Fri) forecast to show further pickup in core inflation. Busy week of earnings with 40% of S&P 500 market cap scheduled to report (including Mag 7 names MSFT, META, AAPL, AMZN, and TSLA).

  • Pre-open Company News:

    • 006400.KS -- Samsung SDI downgraded to neutral from buy at BofA

    • 600884.CH -- Ningbo Shanshan guides FY net income attributable (CNY320-480M) vs FactSet CNY584.4M

    • INGN -- Jiangsu Yuyue Medical Equipment & Supply to purchase 2.6M Inogen common shares at $10.36/share

    • 600547.CH -- Shandong Gold Mining guides FY net income attributable CNY2.70-3.20B vs FactSet CNY3.35B [8 est, CNY2.91-4.23B]

    • 600383.CH -- Gemdale Corp. guides FY net income attributable (CNY5.60-7.00B) vs FactSet (CNY3.26B) [6 est, (CNY6.96)-2.11B]

    • 600673.CH -- Guangdong HEC Technology Holding guides FY net income attributable CNY354.0-434.0M vs FactSet CNY459.5M [2 est, CNY419-500M]

    • 600673.CH -- Guangdong HEC Technology Holding completes CNY200-400M buyback

    • 600707.CH -- Irico Display Devices guides FY net income attributable CNY1.2-1.32B vs year-ago CNY661.1M

    • 600606.CH -- Greenland Holdings guides Q4 net income attributable (CNY11.0-13.0B) vs year-ago (CNY9.56B)

    • 600606.CH -- Greenland Holdings reports Q4 contracted sales CNY15.67B, (44.1%) y/y

    • 601990.CH -- Nanjing Securities reports preliminary FY net income attributable CNY999.3M vs year-ago CNY677.0M

    • 600909.CH -- HuaAn Securities reports preliminary FY net income attributable CNY1.48B vs year-ago CNY1.27B

    • 600415.CH -- Zhejiang China Commodities City Group appoints Bao Hua as general manager, effective today with board approval

    • 601233.CH -- Tongkun Group guides FY net income attributable CNY1.12-1.27B vs FactSet CNY1.41B [10 est, CNY1.18-1.61B]

    • 600143.CH -- Kingfa Sci. & Tech. CFO Feng Zhongjie resigns due to change of work arrangement

  • On Deck:

    • China:

      • Economic:

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

        • 09:30 CST: CFLP Non Manufacturing PMI; consensus 51.5

        • 09:30 CST: CFLP Manufacturing PMI; consensus 50.3

        • 09:30 CST: CFLP Services PMI; consensus

    • Japan:

      • Economic:

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

      • Earnings:

        • FANUC Corp. (6954.JP), Nitto Denko (6988.JP), Koei Tecmo Holdings (3635.JP), Hitachi Construction Machinery (6305.JP), Fujitsu General (6755.JP)

    • India:

      • Earnings:

        • Sundram Fasteners (500403.IN), Coal India (533278.IN), Adani Total Gas (542066.IN), 360 One Wam (542772.IN), Sumitomo Chemical India (542920.IN), Adani Wilmar (543458.IN), Bajaj Housing Finance (544252.IN), Route Mobile (543228.IN), Maharashtra Seamless (500265.IN), ACC Ltd (500410.IN), Federal Bank Ltd (India) (500469.IN), Tata Steel (500470.IN), Emami Ltd (531162.IN), Union Bank of India (532477.IN), Indraprastha Gas (532514.IN), Petronet LNG (532522.IN), The New India Assurance (540769.IN), Railtel Corp. of India (543265.IN), Kaynes Technology India (543664.IN)

    • Singapore:

      • Earnings:

        • CapitaLand Ascott Trust (HMN.SP), CDL Hospitality Trusts (J85.SP), CapitaLand India Trust (CY6U.SP), Keppel REIT (K71U.SP)

  • Market Data:

    • Gold (Feb 25): ($5.80) or (0.21%) to $2773.10

    • WTI Crude (Mar 25): ($0.46) or (0.62%) to $74.20

    • $-¥: (0.39) or (0.25%) to 155.6310

    • $-KRW: (1.00) or (0.07%) to 1428.5300

    • A$-$: (0.00) or (0.29%) to 0.6293

    • $-INR: (0.00) or (0.00%) to 86.1881

    • $-CNY: (0.00) or (0.01%) to 7.2431

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