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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.57%, Hang Seng Futures +0.18%, ASX SPI 200 +0.88%, S&P Futures +0.02%

Feb 05 ,2025

  • Synopsis:

    • Asian markets set for positive start to Thursday trade. Futures signaling opening gains in Japan and Hong Kong. ASX also higher in initial trade. S&P 500 futures flat with QCOM -5% afterhours after licensing revenue outlook underwhelmed. Australian bonds rallying following Treasury curve bull flattening. Dollar retreated for second session amid yen strength. Commodities steady after crude and gold settled lower. Bitcoin flat after falling back below $100K.

    • Some market support overnight from Treasury rally, as soft US services data and Treasury refunding announcement overshadowed recent focus on tariffs and accompanying talk about stagflation risks. Dollar pullback also occurred amid talk of long position unwinding while yen hit two-month high following Japan wage data. At same time, hotter ADP payrolls heightened attention on Friday's nonfarm payrolls data as latest Fedspeak continues to emphasis need for caution.

    • Markets awaiting Trump-Xi phone call and whether that leads to a tamping down of US-Sino trade tensions after both sides levied tariffs on the other. Recent developments having an impact at company-level with Shein and PDD-owned Temu facing disruptions from revocation of $800 de-minimis exemption and USPS reversing decision to ban inbound packages from China. While markets harboring hope for deal that reverses tariffs, uncertainty around future tariff imposition has reinforced some of the bearish narratives around growth and global flows.

    • Mostly positive takeaways from China LNY holiday data with consumer goods trade-in program aiding consumption, tourism-related services seeing sharp increase while traffic numbers and box office revenue hit record. However, positive takeaways constrained by disappointment from January Caixin service PMI, reinforcing primary attention on stimulus. Mixed performance on mainland indices on Wednesday followed by 2% drop in Nasdaq Golden Dragon index amid focus on impacts from recent Trump tariffs.

  • Pre-open Company News:

    • 010060.KS -- OCI Holdings completes up-to-KRW20.00B buyback

    • 006260.KS -- LS Corp reports FY operating profit KRW1.074T vs FactSet KRW1.030T [6 est, KRW965-1.116T]

    • 088350.KS -- HANWHA LIFE INSURANCE reports FY operating profit KRW1.097T vs FactSet KRW874.92B [10 est, KRW783-928B]

    • 603885.CH -- Juneyao Airlines proposes CNY250.0-500.0M on-market buyback, to run for 12 months

    • 9627.JP -- Ain Holdings releases 2024 integrated sustainability report

    • 096770.KS -- SK Innovation reports FY Operating profit KRW315.49B vs StreetAccount KRW346.65B

    • 532725.IN -- Solar Industries India reports Q3 consolidated EPS INR34.80 vs year-ago INR22.47

    • 1996.HK -- Redsun Properties Group reports January contracted sales CNY669M; StreetAccount notes the year-ago figure was CNY982M

    • 096770.KS -- SK Innovation proposes year-end dividend KRW2,000/share vs year-ago nil

    • 010130.KS -- Korea Zinc Co. reports Q4 Operating profit KRW132.83B vs FactSet KRW263.48B [1 est]

    • 000625.CH -- Chongqing Changan Automobile reports January vehicle production 181,212 units, (19.8%) y/y

    • 601611.CH -- China Nuclear Engineering Corp. initiated buy at Guosheng Securities (timing uncertain)

  • On Deck:

    • China:

      • Economic:

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

    • Japan:

      • Earnings:

        • Tosoh Corp (4042.JP), Kyowa Kirin (4151.JP), Mitsubishi Chemical (4188.JP), Mercari (4385.JP), Kao (4452.JP), LY Corp. (4689.JP), FUJIFILM (4901.JP), Konica Minolta (4902.JP), JFE Holdings (5411.JP), Towa Corp (6315.JP), Brother Industries (6448.JP), Renesas Electronics (6723.JP), Hamamatsu Photonics KK (6965.JP), Suzuki Motor (7269.JP), Nikon Corp (7731.JP), ITOCHU (8001.JP), Tokyo Metro (9023.JP), TBS Holdings (9401.JP), Kadokawa (9468.JP), NTT DATA Group (9613.JP), Raito Kogyo Co. (1926.JP), NIPPN Corp. (2001.JP), CALBEE (2229.JP), Itoham Yonekyu Holdings (2296.JP), Systena (2317.JP), Kakaku.com (2371.JP), McDonald's Holdings (2702.JP), Arata Corp (2733.JP), Gunze Ltd (3002.JP), Nitto Boseki (3110.JP), Teijin (3401.JP), Seiren (3569.JP), Nippon Shokubai (4114.JP), Kaken Pharmaceutical (4521.JP), Santen Pharmaceutical (4536.JP), Tsumura & Co (4540.JP), JCU Corp. (4975.JP), Cosmo Energy Holdings (5021.JP), Sumitomo Rubber Industries (5110.JP), NICHIAS (5393.JP), NIPPON STEEL (5401.JP), Toyo Seikan Group Holdings (5901.JP), Bunka Shutter (5930.JP), Fuji Corp (6134.JP), Kurita Water Industries (6370.JP), Fujitec (6406.JP), Glory Ltd (6457.JP), Pillar (6490.JP), Toshiba Tec (6588.JP), Shibaura Mechatronics (6590.JP), Oki Electric Industry Co. (6703.JP), Meiko Electronics (6787.JP), Azbil Corp (6845.JP), Amvis Holdings (7071.JP), Kyokuto Kaihatsu Kogyo (7226.JP), LINTEC (7966.JP), Nagase & Co. (8012.JP), Tokyo Electron (8035.JP), Mitsubishi (8058.JP), Inabata & Co. (8098.JP), GOLDWIN (8111.JP), Kaga Electronics (8154.JP), K's Holdings (8282.JP), Suruga Bank (8358.JP), JACCS Co. (8584.JP), Sumitomo Realty & Development (8830.JP), Sotetsu Holdings (9003.JP), MITSUI-SOKO HOLDINGS (9302.JP), Nippon Television Holdings (9404.JP), Yamada Holdings (9831.JP)

    • South Korea:

      • Earnings:

        • PI Advanced Materials (178920.KS), DL Holdings (000210.KS), LG Corp (003550.KS), HD Korea Shipbuilding & Offshore Engineering Co. (009540.KS), HANWHA SOLUTIONS (009830.KS), Lotte Shopping Co. (023530.KS), KT&G Corp (033780.KS), Shinhan Financial (055550.KS), KUMHO TIRE (073240.KS), BNK Financial Group (138930.KS), HL Mando (204320.KS), Dl E&C Co. (375500.KS), Mirae Asset Securities Co. (006800.KS), HD Hyundai Mipo (010620.KS), Samsung Card Co. (029780.KS), NAVER (035420.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: Trade Balance on Goods; consensus +A$6.5B

      • Earnings:

        • Charter Hall Long WALE REIT (CLW.AU), Nick Scali (NCK.AU)

    • India:

      • Earnings:

        • BEML Ltd (500048.IN), Chambal Fertilisers & Chemicals (500085.IN), Trent Ltd (500251.IN), The Ramco Cements (500260.IN), MRF Ltd (500290.IN), Prism Johnson (500338.IN), Uno Minda (532539.IN), Bharat Dynamics (541143.IN), Nmdc Steel (543768.IN), ITC Ltd (500875.IN), Cochin Shipyard (540678.IN), Hero MotoCorp (500182.IN), JK Lakshmi Cement (500380.IN), Britannia Industries (500825.IN), Apollo Tyres (500877.IN), Finolex Industries (500940.IN), PI Industries (523642.IN), Aurobindo Pharma (524804.IN), NMDC Ltd (526371.IN), KRBL Ltd (530813.IN), Bharti Airtel (532454.IN), Sobha Ltd (532784.IN), REC Ltd (532955.IN), ZF Commercial Vehicle Control Systems India (533023.IN), Krishna Institute of Medical Sciences (543308.IN), Bikaji Foods International (543653.IN), Bharti Hexacom (544162.IN)

    • Singapore:

      • Earnings:

        • CapitaLand China Trust (AU8U.SP), CapitaLand Ascendas REIT (A17U.SP), Fraser & Neave (F99.SP)

    • Philippines:

      • Earnings:

        • Globe Telecom (GLO.PM)

  • Market Data:

    • Gold (Apr 25): ($7.20) or (0.25%) to $2885.80

    • WTI Crude (Mar 25): +$0.19 or +0.27% to $71.22

    • $-¥: (1.66) or (1.07%) to 152.6860

    • $-KRW: (9.15) or (0.63%) to 1444.3800

    • A$-$: +0.00 or +0.42% to 0.6281

    • $-INR: +0.22 or +0.25% to 87.3360

    • $-CNY: +0.09 or +1.19% to 7.2704

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