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StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.29%), Hang Seng Futures (0.21%), ASX SPI 200 (0.24%), S&P Futures (0.11%)

Feb 06 ,2025

  • Synopsis:

    • Asian markets set for negative start to Friday trade. Futures signaling mild opening losses in Japan and Hong Kong. Australia little changed early. S&P 500 futures weaker afterhours with AMZN a drag following guidance miss. Australian curve bear steepening after Treasury yields turned higher overnight. Yen extended gains, highest against dollar since mid-December. Crude and gold steady after both settled lower. Bitcoin continues to consolidate below $100K.

    • Not much in way of leads following directionless offshore session where US markets ended narrowly mixed. Trade-related volatility has ebbed with still no follow-up to US and China tariffs and no timing for Trump-Xi phone call. Some attention has shifted back to macro as markets await US payrolls data following ADP beat on Thursday. Across Asia, RBI expected to begin easing cycle with 25 bp rate cut. Light day of economic data with Japan household spending on tap.

    • US nonfarm payrolls forecast to show step down in headline employment growth to ~170K following December's blowout 256K. Unemployment rate seen unchanged at 4.1%. Previews generally see healthy pace of job growth continuing, though also potential for large positive seasonal adjustment. Comes as Fed shifts to more cautious stance on further rate cuts amid elevated inflation and officials noting need to take stock of uncertainties around tariffs. Markets not fully pricing in next rate cut until mid-year.

    • Corporate activity remains busy. AMZN -4% in postmarket trade after profit guidance missed amid unusually large drag from adverse FX rates, continuing run of high-profile tech disappointments. Japan earnings season also in full swing. Thursday's post-close earnings highlights included Tokyo Electron's (8035.JP) bottom line beat and move to boost production capacity. Elsewhere, merger talks between Nissan (7201.JP) and Honda (7267.JP) halted on Thursday with press sources noting development could pave way for Hon Hai (2317.TT) to approach Nissan.

  • Pre-open Company News:

    • 508869.IN -- StreetAccount Consensus Metrics Preview - Apollo Hospitals Enterprise Q3 Earnings

    • 119.HK -- Poly Property Group reports January contracted sales CNY4.8B; StreetAccount notes the year-ago figure was CNY3.3B

    • 603077.CH -- Sichuan Hebang Biotechnology completes CNY100-200M buyback

    • 601138.CH -- Foxconn Industrial Internet completes CNY203.0M buyback, total shares repurchased 9.5M

    • 600535.CH -- China Resources Sanjiu receives SASAC approval for proposed acquisition of 28% stake in Tasly Pharmaceutical Group from Tasly Group

    • 538962.IN -- Minda Corp. reports Q3 consolidated EPS INR2.71 vs year-ago INR2.19

    • 59.HK -- Skyfame Realty (Holdings) receieves winding up petition in Hong Kong for nonpayment of bonds

    • 500112.IN -- Follow-up: State Bank of India reports Q3 net interest income INR414.46B vs StreetAccount INR425.17B

    • 81.HK -- China Overseas Grand Oceans Group reports January contracted sales CNY2.21B, (6.6%) y/y

    • 688.HK -- China Overseas Land & Investment reports January contracted property sales CNY12.02B, +14.4% y/y

    • 543768.IN -- Nmdc Steel reports Q3 EPS (INR2.59) vs year-ago (INR1.94)

    • 1801.HK -- Innovent Biologics reports Q4 product revenue of more than CNY2.0B, more than +25% y/y

    • 600521.CH -- Zhejiang Huahai Pharmaceutical obtains NMPA clinical trial approval for HB0017 injection for additional indication of hidradenitis suppurativa

    • 532955.IN -- REC Ltd reports Q3 standalone EPS INR15.30 vs FactSet INR15.55 [2 est, INR15.40-15.70]

  • On Deck:

    • China:

      • Economic:

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

        • 16:00 CST: FX Reserves; consensus +$3196B

    • Japan:

      • Economic:

        • 08:30 JST: Real Household Consumption Expenditure Y/Y; consensus

        • 08:30 JST: Real Household Income Y/Y; consensus

        • 08:50 JST: FX Reserves M/M; consensus

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

      • Earnings:

        • Nitto Boseki (3110.JP), DeNA Co. (2432.JP), Nissan Chemical (4021.JP), Eisai (4523.JP), Kansai Paint (4613.JP), Nippon Sheet Glass (5202.JP), Kobe Steel (5406.JP), Taiyo Yuden (6976.JP), IHI (7013.JP), Subaru (7270.JP), Yamaguchi Financial Group (8418.JP), SBI Holdings (8473.JP), KATITAS (8919.JP), SG Holdings (9143.JP), Nippon Telegraph & Telephone (9432.JP), Kyoritsu Maintenance (9616.JP), Square Enix Holdings (9684.JP), Nissui (1332.JP), COMSYS Holdings (1721.JP), TAISEI (1801.JP), Totetsu Kogyo Co. (1835.JP), Penta-Ocean Construction (1893.JP), EXEO Group (1951.JP), DAI-DAN Co. (1980.JP), Open Up Group (2154.JP), Fuji Oil Holdings (2607.JP), Daiwabo Holdings (3107.JP), SHIP HEALTHCARE HOLDINGS (3360.JP), SUMCO (3436.JP), Food & Life Companies (3563.JP), Internet Initiative Japan (3774.JP), Nippon Paper Industries (3863.JP), Denka Co. (4061.JP), Air Water (4088.JP), KH Neochem (4189.JP), Fuso Chemical (4368.JP), Nippon Shinyaku (4516.JP), H.U. Group Holdings (4544.JP), Duskin (4665.JP), JustSystems (4686.JP), BML Inc (4694.JP), T. Hasegawa (4958.JP), Nitta Corp (5186.JP), Mitsuboshi Belting (5192.JP), AGC (5201.JP), Yodogawa Steel Works (5451.JP), Pacific Metals (5541.JP), Daiki Aluminium Industry (5702.JP), SWCC Corp. (5805.JP), Iyogin Holdings (5830.JP), TechnoPro Holdings (6028.JP), Tsubakimoto Chain (6371.JP), Heiwa Corp (6412.JP), Sinko Industries (6458.JP), Sega Sammy Holdings (6460.JP), Sinfonia Technology (6507.JP), Kokusai Electric (6525.JP), Sanken Electric (6707.JP), Sharp Corp (6753.JP), Hosiden (6804.JP), Ushio Inc (6925.JP), Kawasaki Heavy Industries (7012.JP), Mebuki Financial Group (7167.JP), First Bank of Toyama (7184.JP), Isuzu Motors (7202.JP), Musashi Seimitsu Industry (7220.JP), Mazda Motor (7261.JP), TS TECH (7313.JP), Argo Graphics (7595.JP), Colowide (7616.JP), Tamron (7740.JP), A&D Holon Holdings (7745.JP), Furuya Metal (7826.JP), Okamura (7994.JP), Kanematsu (8020.JP), Mizuno (8022.JP), Hanwa Co. (8078.JP), Nipro (8086.JP), Toho Holdings (8129.JP), Sangetsu (8130.JP), KISOJI (8160.JP), The Chiba Bank (8331.JP), The Hachijuni Bank (8359.JP), Seven Bank (8410.JP), Tokyo Century (8439.JP), AIFUL Corp (8515.JP), The Bank of Nagoya (8522.JP), Mitsui Fudosan (8801.JP), Mitsubishi Estate (8802.JP), Keihan Holdings (9045.JP), NIKKON Holdings (9072.JP), TV Asahi Holdings (9409.JP), Renova (9519.JP), Funai Soken Holdings (9757.JP), Kato Sangyo (9869.JP)

    • South Korea:

      • Earnings:

        • NAVER (035420.KS), Lotte Chemical (011170.KS), KOREA AEROSPACE INDUSTRIES (047810.KS), DGB Financial Group (139130.KS), Woori Financial Group (316140.KS), Doosan Fuel Cell (336260.KS), Hanwha Systems (272210.KS)

    • India:

      • Earnings:

        • Mahindra & Mahindra (500520.IN), Honeywell Automation India (517174.IN), Linde India (523457.IN), Gujarat State Petronet (532702.IN), Sun TV Network (532733.IN), NHPC Ltd (533098.IN), Alkem Laboratories (539523.IN), Mazagon Dock Shipbuilders (543237.IN), Latent View Analytics (543398.IN), Archean Chemical Industries (543657.IN), Balrampur Chini Mills (500038.IN), Century Plyboards (India) (532548.IN), Action Construction Equipment (532762.IN), Oil India (533106.IN), Chemplast Sanmar (543336.IN), Happy Forgings (544057.IN)

    • Singapore:

      • Earnings:

        • Fraser & Neave (F99.SP), Hutchison Port Holdings Trust (NS8U.SP), Frasers Property (TQ5.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: CPI NSA Y/Y; consensus +2.5%

        • 16:00 TST: Export NSA Y/Y; consensus +5.4%

      • Earnings:

        • MediaTek (2454.TT)

  • Market Data:

    • Gold (Apr 25): +$4.90 or +0.17% to $2881.60

    • WTI Crude (Mar 25): ($0.03) or (0.04%) to $70.58

    • $-¥: (1.33) or (0.87%) to 151.2710

    • $-KRW: +2.04 or +0.14% to 1447.4600

    • A$-$: (0.00) or (0.11%) to 0.6280

    • $-INR: +0.26 or +0.29% to 87.5973

    • $-CNY: +0.02 or +0.21% to 7.2878

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