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StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.83%), Hang Seng Futures 0.00%, ASX SPI 200 +0.09%, S&P Futures (0.03%)

Jan 29 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Thursday trade with futures signaling opening decline in Japan. Australia flat early. Greater China and other markets remain offline for LNY holiday. US contracts unchangedafterhours following big tech earnings. Bond markets muted after Treasuries weakened following Fed hold. FX markets steady with dollar little changed in Fed aftermath. Crude coming off overnight lows while gold flat. Bitcoin flat after rebounding from $100K.

    • US tech reporting afterhours. MSFT (6%) beat on bottom line though Azure growth slowdown worse than expected. AI made slightly higher revenue contribution. META +2% beat on top line with Zuckerberg bullish on Meta AI adoption. TSLA +5% profit underwhelmed while flagging rebound in vehicle sales (though stopped short of committing to Musk's 20-30% estimate). IBM +9% beat on bottom line amid surge in AI sales and consulting, FCF growth forecast also ahead of Street estimate.

    • DeepSeek remains focal point of AI headlines with Microsoft and OpenAI investigating whether it improperly obtained OpenAI data to build its model. Late Wednesday Alibaba claimed its AI model surpassed DeepSeek's capabilities, signaling broader competitive threat from China in AI space. Meanwhile, Bloomberg sources noted Trump officials discussing whether to tighten curbs on NVDA chip exports to China in wake of DeepSeek claims it relied on older model chips to develop its AI model.

    • Limited market fallout from Fed's widely expected hold decision, even as initial takeaways leaned somewhat hawkish after language on labor market and inflation was tweaked. As expected, Powell was asked about Trump policy impact though he noted wide variability around tariff impact. Powell hewed to Fed's line on remaining data dependent and that it is not in a rush to ease. Market pricing little changed in aftermath with Fed seen on hold until June.

  • Pre-open Company News:

    • 532605.IN -- JBM Auto reports Q3 consolidated EPS INR4.45 vs year-ago INR4.12

    • 532497.IN -- Radico Khaitan guides luxury and semi-luxury segments to cross INR5.00B net revenue in FY26

    • 533096.IN -- Adani Power reports Q3 consolidated EPS INR7.67 vs year-ago INR6.61

    • 505533.IN -- Westlife Foodworld reports Q3 consolidated profit after tax INR70.1M vs FactSet INR101.4M [16 est, INR9-244M]

    • 533272.IN -- Jupiter Wagons reports Q3 consolidated EPS INR2.29 vs year-ago INR2.03

    • 500067.IN -- Blue Star reports Q3 consolidated net income attributable INR1.33B vs FactSet INR1.25B [14 est, INR1.00-1.40B]

    • SCC.TB -- The Siam Cement Public reports Q4 net income attributable (THB512M) vs FactSet (THB634.4M) [10 est, (THB1.05B)-91M]

    • 503806.IN -- SRF Ltd reports Q3 consolidated EPS INR9.15 vs FactSet INR7.80 [11 est, INR6.20-10.33]

    • 542602.IN -- Embassy Office Parks REIT reports Q3 distribution to unitholders INR5.59B; StreetAccount notes year-ago figure was INR4.93B

    • 543248.IN -- Restaurant Brands Asia reports Q3 consolidated EPS (INR1.01) vs FactSet (INR0.85) [2 est, (INR1.40)-(0.30)]

    • 500550.IN -- Siemens upgraded to buy from hold at Phillip Capital

    • 530965.IN -- Indian Oil Corp. downgraded to reduce from neutral at YES Securities

  • On Deck:

    • China:

      • Economic:

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

    • Japan:

      • Economic:

        • 09:30 JST: Export NSA Y/Y (Final); consensus +2.8%

        • 09:30 JST: Trade Balance NSA (Final); consensus

        • 09:30 JST: Import NSA Y/Y (Final); consensus +1.8%

      • Earnings:

        • Sekisui Chemical (4204.JP), Nomura Research Institute (4307.JP), Takeda Pharmaceutical (4502.JP), Chugai Pharmaceutical (4519.JP), Fuji Electric Co. (6504.JP), NEC Corp (6701.JP), Hino Motors (7205.JP), Canon (7751.JP), Tokyo Electric Power Co. Holdings (9501.JP), Meitec (9744.JP), Yurtec (1934.JP), NEC Networks & System Integration (1973.JP), Nihon M&A Center Holdings (2127.JP), Hulic Co. (3003.JP), Nomura Real Estate Holdings (3231.JP), Sekisui Jushi (4212.JP), Simplex Holdings (4373.JP), Oriental Land (4661.JP), Toei Animation (4816.JP), Anritsu (6754.JP), Shinko Electric Industries (6967.JP), TOKAI RIKA (6995.JP), Financial Partners Group (7148.JP), Pacific Industrial (7250.JP), Koito Manufacturing (7276.JP), EXEDY Corp (7278.JP), Nojima (7419.JP), Net One Systems (7518.JP), Topcon (7732.JP), Okasan Securities Group (8609.JP), Japan Exchange (8697.JP), Senshu Ikeda Holdings (8714.JP), Nankai Electric Railway (9044.JP), Hokuriku Electric Power (9505.JP), TOHO GAS (9533.JP), M&A Research Institute Holdings (9552.JP)

    • South Korea:

      • Earnings:

        • Samsung Electronics (005930.KS)

    • Australia:

      • Earnings:

        • PointsBet Holdings (PBH.AU), Zip Co (ZIP.AU)

    • India:

      • Earnings:

        • Bharat Electronics (500049.IN), Shree Cement (500387.IN), Bajaj Holdings & Investment (500490.IN), Larsen & Toubro (500510.IN), Tata Consumer Products (500800.IN), Adani Enterprises (512599.IN), Container Corp. of India (531344.IN), GAIL (India) (532155.IN), Ajanta Pharma (532331.IN), Navin Fluorine International (532504.IN), Adani Ports & Special Economic Zone (532921.IN), Prestige Estates Projects (533274.IN), Clean Science & Technology (543318.IN), PB Fintech (543390.IN), The Phoenix Mills (503100.IN), Coromandel International (506395.IN), PRAJ Industries (522205.IN), Biocon (532523.IN), Bajaj Finserv (532978.IN), Max Healthcare Institute (543220.IN), Brookfield India Real Estate Trust (543261.IN), Vedant Fashions (543463.IN), WAAREE Energies (544277.IN)

    • Philippines:

      • Economic:

        • 10:05 SST: GDP NSA Y/Y; consensus +5.4%

  • Market Data:

    • Gold (Feb 25): +$4.00 or +0.14% to $2773.80

    • WTI Crude (Mar 25): +$0.30 or +0.41% to $72.92

    • $-¥: (0.44) or (0.28%) to 155.0900

    • $-KRW: (3.84) or (0.27%) to 1442.0500

    • A$-$: (0.00) or (0.30%) to 0.6235

    • $-INR: +0.05 or +0.05% to 86.6409

    • $-CNY: (0.08) or (1.13%) to 7.1689

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