Feb 03 ,2025
Synopsis:
Asian markets set for positive start to Tuesday trade. Futures signaling opening gains in Japan and Hong Kong. Australia higher in initial trade. S&P 500 and Nasdaq futures advancing afterhours amid latest tariff developments. Australian and New Zealand bonds under pressure following Treasury curve bear flattening. Dollar retreating broadly from Monday's highs, though up against yen. Crude pulling back further while gold little changed. Bitcoin reclaimed $100K following big drop Monday to mid-January lows.
Markets processing fast moving tariff developments with Trump agreeing to pause tariffs on Canada and Mexico for 30 days. Comes after he secured additional personnel from both countries to monitor border. Still, situation remains fluid with press reporting Trump eyeing 10% tariffs on EU. Trump also left China out his decision to pause tariffs, saying he will have phone call with President Xi in coming days and threatening to substantially increase tariffs if Beijing doesn't stop sending fentanyl to US.
Tariff developments continue to drive volatile moves on markets with US automakers US-listed Canadian stocks strengthening afterhours following Trump's decision to pause tariffs. Canadian dollar and Mexican peso rebounding after sliding to multi-year lows on Monday. Crude also gave back Monday's gains after Trump threatened 10% tariffs on Canadian oil. Although Trump left China out of his tariff pause decision, Nasdaq Golden Dragon index fell less than 1% amid thoughts deal with Beijing can also be worked out.
Pre-open Company News:
500114.IN -- StreetAccount Consensus Metrics Preview - Titan Q3 Earnings
532777.IN -- StreetAccount Consensus Metrics Preview - Info Edge India Q3 Earnings
004800.KS -- HYOSUNG reports Q4 operating profit KRW129.45B vs year-ago KRW3.19B
540691.IN -- Aditya Birla Capital reports Q3 consolidated EPS (cont. ops) INR2.69 vs year-ago INR2.79
639.HK -- Shoucheng Holdings completes sale of 11.9% stake in Shougang Fushan Resources to Shougang Group as announced in Dec 2024
298020.KS -- Hyosung TNC reports FY Operating profit KRW270.73B vs FactSet KRW299.50B [5 est, KRW282.50-357.10B]
009240.KS -- HANSSEM reports FY Operating profit KRW31.23B vs FactSet KRW40.17B [6 est, KRW36.10-51B]
533573.IN -- Alembic Pharmaceuticals reports Q3 consolidated net income attributable INR1.38B vs FactSet INR1.74B [10 est, INR1.58-1.88B]
079550.KS -- LIG Nex1 reports FY operating profit KRW230.86B vs FactSet KRW228.98B [16 est, KRW211-254B]
7581.JP -- Saizeriya reports January existing store net sales +17.3% y/y
T82U.SP -- Aelios extends offer for Suntec Real Estate Investment Trust to 7-Feb from 3-Feb
JYEU.SP -- Lendlease Global Commercial REIT reports H1 distributable income SG$43.5M vs year-ago SG$49.3M
On Deck:
China:
Economic:
08:00 CST: Foreign Direct Investment Y/Y; consensus
Japan:
Earnings:
PERSOL Holdings (2181.JP), NS Solutions (2327.JP), Sapporo Holdings (2501.JP), Sojitz (2768.JP), Isetan Mitsukoshi Holdings (3099.JP), Astellas Pharma (4503.JP), Kawasaki Kisen Kaisha (9107.JP), Kyushu Railway (9142.JP), Japan Airlines (9201.JP), Mitsui Matsushima Holdings (1518.JP), Sanki Engineering (1961.JP), Yamazaki Baking Co. (2212.JP), Yakult Honsha (2267.JP), SOHGO SECURITY SERVICES (2331.JP), SBS Holdings (2384.JP), Asahi Group Holdings (2502.JP), Kirin (2503.JP), House Foods Group (2810.JP), Nichirei (2871.JP), Ai Holdings (3076.JP), MatsukiyoCocokara & Co. (3088.JP), TOKAI Holdings (3167.JP), TOCALO Co. (3433.JP), TIS Inc. (3626.JP), Rengo (3941.JP), IBIDEN (4062.JP), Mitsui Chemicals (4183.JP), Chugoku Marine Paints (4617.JP), USS Co. (4732.JP), Fujimi (5384.JP), Sumitomo Electric Industries (5802.JP), Chugin Financial Group (5832.JP), Sankyo (6417.JP), NTN Corp (6472.JP), Mitsubishi Electric (6503.JP), Daihen (6622.JP), IDEC Corp (6652.JP), Panasonic (6752.JP), Yokogawa Electric (6841.JP), Mitsubishi Heavy Industries (7011.JP), ShinMaywa Industries (7224.JP), Mitsubishi Shokuhin (7451.JP), Tokyo Seimitsu (7729.JP), Nintendo (7974.JP), Nifco Inc (7988.JP), Mitsui & Co. (8031.JP), BIPROGY (8056.JP), Mitsubishi UFJ Financial (8306.JP), Gunma Bank (8334.JP), Nanto Bank (8367.JP), The Hyakugo Bank (8368.JP), Hankyu Hanshin Holdings (9042.JP)
South Korea:
Earnings:
GS Engineering & Construction (006360.KS), Hana Financial (086790.KS), Hanmi Pharmaceutical Co. (128940.KS), HANKOOK TIRE & TECHNOLOGY Co. (161390.KS), KIWOOM Securities (039490.KS), KakaoBank (323410.KS)
Australia:
Earnings:
Amcor (AMC.AU), BWP Trust (BWP.AU), Kelly Partners Group Holdings (KPG.AU), Pinnacle Investment Management Group (PNI.AU)
India:
Earnings:
Tata Power Co. (500400.IN), Safari Industries (India) (523025.IN), Godrej Properties (533150.IN), RattanIndia Enterprises (534597.IN), Fine Organic Industries (541557.IN), Titan (500114.IN), Whirlpool of India (500238.IN), Max Financial Services (500271.IN), Birla Corp. (500335.IN), Thermax (500411.IN), JB Chemicals & Pharmaceuticals (506943.IN), Triveni Engineering & Industries (532356.IN), Lemon Tree Hotels (541233.IN), Metropolis Healthcare (542650.IN), Happiest Minds Technologies (543227.IN), Global Health Ltd. (India) (543654.IN)
Singapore:
Earnings:
Keppel Pacific Oak US REIT (CMOU.SP), Keppel Infrastructure Trust (A7RU.SP), Keppel (BN4.SP), CapitaLand Integrated Commercial Trust (C38U.SP)
Market Data:
Gold (Apr 25): ($9.90) or (0.35%) to $2847.20
WTI Crude (Mar 25): ($0.71) or (0.97%) to $72.45
$-¥: (0.05) or (0.03%) to 155.1550
$-KRW: +0.59 or +0.04% to 1458.0900
A$-$: +0.00 or +0.15% to 0.6220
$-INR: +0.25 or +0.28% to 86.9435
$-CNY: +0.01 or +0.12% to 7.1951
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