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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.87%, Hang Seng Futures 0.00%, ASX SPI 200 +0.56%, S&P Futures (0.13%)

Jan 28 ,2025

  • Synopsis:

    • Asian markets set for positive start to Wednesday trade with futures signaling opening gains in Japan. Australia firming in initial trade. Greater China and other markets offline for LNY holiday. US contracts a touch lower after tech regained ground overnight (SOX up 1%). Australian and New Zealand bond yields edging higher after Treasuries were little changed. FX markets unchanged after dollar strengthened on latest tariff headlines. Crude and gold steady after clawing back Monday's losses while Bitcoin flat near $100K.

    • Tuesday's tech sector reprieve followed Monday's DeepSeek-driven sell-off in AI names, as discussions moved from US capex scrutiny and doubts about American AI leadership, to breakthrough fostering greater efficiency. Also questions around DeepSeek's cost claims, app functionality and adoption doubts, as well as risk of US tightening China sanctions(White House currently assessing national security implications amid claims IP theft involved). Mag 7 names set to report over coming days with DeepSeek commentary likely to get outsized attention.

    • Fed expected to leave interest rates unchanged Wednesday with previews not expecting many changes to policy statement (though Fed could tweak to note stronger labor market). Chair Powell likely to be asked about potential inflation impact of Trump policies though he is expected to reiterate Fed waiting until data offers more confidence to return to cuts. Markets not pricing in rate cut until mid-year though odds of a second 2025 rate cut nudged higher following softer December core inflation data.

    • Australia Q4 CPI forecast to show headline inflation falling to 2-3% target midpoint, though distorted heavily by energy subsidies. Market more focused on underlying (trimmed mean) inflation, forecast to show narrower drop but still above target. Some thought that may clear path for near-term RBA rate cut (markets recently pricing in ~80% chance of February rate cut), though also view RBA will maintain cautious approach amid upside inflation risks from pre-election spending, tight labor market and expected recovery in household spending.

  • Pre-open Company News:

    • 500510.IN -- StreetAccount Consensus Metrics Preview - Larsen & Toubro Q3 Earnings

    • 500049.IN -- StreetAccount Consensus Metrics Preview - Bharat Electronics Q3 Earnings

    • 532921.IN -- StreetAccount Consensus Metrics Preview - Adani Ports & Special Economic Zone Q3 Earnings

    • 500800.IN -- StreetAccount Consensus Metrics Preview - Tata Consumer Products Q3 Earnings

    • 542867.IN -- Follow-up: CSB Bank reports Q3 net interest income INR3.75B vs FactSet INR3.88B

    • 544274.IN -- Hyundai Motor India reports Q3 consolidated EPS INR14.29 vs year-ago INR17.54

    • 500257.IN -- Lupin and Avas launch NaMuscla for NDM disorders in Italy

    • 512455.IN -- Lloyds Metals & Energy reports Q3 consolidated EPS INR7.04 vs year-ago INR6.51

    • 500049.IN -- Bharat Electronics receives new orders worth INR5.31B, taking accumulated orders for current financial year to INR108.93B

    • 500087.IN -- Cipla Ltd appoints Achin Gupta as Global COO, effective 1-Feb

    • 8179.JP -- Royal Holdings, Minor International Public Co.'s Minor Hotel Group to form 50:50 joint venture

    • 543994.IN -- JSW Infrastructure reports Q3 consolidated EPS INR1.57 vs year-ago INR1.18

    • 500338.IN -- Prism Johnson receives INR1.28B income tax refund for AY2007-08, AY2008-09 and AY2010-11

    • 532667.IN -- Suzlon Energy reports Q3 consolidated EPS INR0.28 vs year-ago INR0.15

  • On Deck:

    • China:

      • Economic:

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

    • Japan:

      • Earnings:

        • Shin-Etsu Chemical (4063.JP), CyberAgent (4751.JP), Advantest (6857.JP), Canon Marketing Japan (8060.JP), Shikoku Electric Power (9507.JP), Konishi (4956.JP), MARUWA (5344.JP), ARE Holdings (5857.JP), Yokogawa Bridge Holdings (5911.JP), Makita (6586.JP), Japan Aviation Electronics Industry (6807.JP), Juroku Financial Group (7380.JP), KOMERI CO. (8218.JP), Sumitomo Mitsui Financial (8316.JP), JAFCO Group (8595.JP), Matsui Securities (8628.JP), Capcom (9697.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: RBA Trimmed Mean CPI Q/Q; consensus

        • 11:30 AEST: CPI NSA Q/Q; consensus +0.3%

      • Earnings:

        • Atlas Arteria (ALX.AU)

    • India:

      • Earnings:

        • Tata Motors (500570.IN), Voltas (500575.IN), Asahi India Glass (515030.IN), JK Paper (532162.IN), JBM Auto (532605.IN), Embassy Office Parks REIT (542602.IN), KPIT Technologies (542651.IN), Restaurant Brands Asia (543248.IN), Tamilnad Mercantile Bank (543596.IN), ACME Solar Holdings (544283.IN), Blue Dart Express (526612.IN), Quess Corp. (539978.IN), Blue Star (500067.IN), Raymond (500330.IN), Raymond (500330.IN), Deepak Fertilisers & Petrochemicals (500645.IN), SRF Ltd (503806.IN), Usha Martin (517146.IN), Vaibhav Global (532156.IN), Olectra Greentech (532439.IN), Radico Khaitan (532497.IN), Jindal Stainless (532508.IN), eClerx Services (532927.IN), Brigade Enterprises (532929.IN), Adani Power (533096.IN), Jupiter Wagons (533272.IN), Chalet Hotels (542399.IN), Hitachi Energy India (543187.IN), Computer Age Management Services (543232.IN), Craftsman Automation (543276.IN)

  • Market Data:

    • Gold (Feb 25): +$3.00 or +0.11% to $2770.50

    • WTI Crude (Mar 25): +$0.17 or +0.23% to $73.94

    • $-¥: +1.06 or +0.68% to 155.5680

    • $-KRW: +9.52 or +0.66% to 1444.3500

    • A$-$: (0.00) or (0.64%) to 0.6253

    • $-INR: +0.28 or +0.33% to 86.6279

    • $-CNY: (0.00) or (0.01%) to 7.2502

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