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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.17%), Hang Seng Futures (0.33%), ASX SPI 200 (0.57%), S&P Futures (0.04%)

Feb 09 ,2025

  • Synopsis:

    • Asia equities poised for a weaker open Monday. Volumes typically relatively light over Superbowl Sunday. Futures in Japan, Hong Kong and Australia traded lower. Golden Dragon China index rose 1.34%, while all Japan ADRs suffered losses. Follows notable US losses Friday while futures extended declines following President Trump's latest tariff remarks. Tech leads were negative with Nasdaq lagging S&P 500, big tech mostly lower and SOX index down 1.63%. Treasuries ended Friday's session weaker with some curve flattening. Dollar index rose 0.4% but still lower for the week. Gold finished up 0.4%. Bitcoin futures down 1%. WTI crude settled up 0.6%, though still lower for third straight week.

    • Higher US yields the main focus Friday after latest data posed positive implications for inflation and were seen to keep Fed on hold in the near term. Employment data showed lower headline payrolls growth, though coupled with upward revisions to prior readings and jobless rate edged lower. Average hourly earnings were firmer than expected, while University of Michigan consumer sentiment survey showed a pickup in inflation expectations. Furthermore, President Trump on Friday said he would announce reciprocal tariffs Monday or Tuesday, though did not specify which countries would be targeted. But in breaking news, Trump said he would announce 25% tariffs on all aluminum and steel imports on Monday.

    • In Asia, tariffs remain the main macro theme with China's announced 15% duties on US coal and LNG due to take effect Monday, though overall measures on a limited scale compared to the US levies on China. Trump suspended the revocation of de-minimis exemptions, mirroring the backflip in USPS blockage of parcels from China. Some relief after Japan PM Ishiba's meeting with Trump was amicable with no discussion of bilateral duties. Also reframed Nippon Steel's (5401.JP) deal with US Steel (X) as an 'investment' rather than an acquisition, raising hopes of some deal going through.

    • In Asia, China inflation data were mixed with CPI accelerating marginally above consensus while PPI lagged. CPI strength attributed mainly to LNY effects and did not dispel deflation concerns. Prospects for PBOC easing starting to become less clear as the March NPC looms. Regional calendar light on economic data this week with China credit the lone notable release (specific date unconfirmed). Attention otherwise on Japan earnings. Nissan (7201.JP) and Honda (7267.JP) earnings calls in particular focus after merger talks fell through.

  • Pre-open Company News:

    • 688400.CH -- Hon Hai Precision Industry to sell 15.6M shares in Luster LightTech via block trade

    • 000625.CH -- Chongqing Changan Automobile controlling shareholder China South Industries Group in restructuring talks with annother central SOE

    • 1402.TT -- Far Eastern New Century says suspension of Xinpu plant will impact NT$2.1B in revenue per month

    • 600048.CH -- Poly Developments & Holdings Group reports January contracted sales CNY18.02B, (11.4%) y/y

    • 2887.TT -- Taishin Financial Holdings reports January PBT NT1.91B; StreetAccount notes year-ago figure was NT$2.49B

    • 2888.TT -- Shin Kong Financial Holding reports January net income (NT$1.87B); StreetAccount notes year-ago figure was (NT$2.25B)

    • 1789.HK -- AK Medical Holdings guides FY net income attributable to increase by over 50% vs year-ago CNY182.1M

    • 2801.TT -- Chang Hwa Commercial Bank reports January PBT NT$1.63B; StreetAccount notes the year-ago figure was NT$1.67B

    • 489.HK -- Dongfeng Motor Group controlling shareholder Dongfeng Motor Corporation in restructuring talks with annother central SOE

    • 600166.CH -- Beiqi Foton Motor reports January vehicle sales 50,054 vs year-ago 52,103

    • 513599.IN -- Hindustan Copper reports Q3 consolidated EPS INR0.65 vs year-ago INR0.65

    • 500008.IN -- Amara Raja Energy & Mobility reports Q3 standalone EPS INR17.04 vs FactSet INR14.16 [6 est, INR13.40-15.10]

    • 1274.HK -- iMotion Automotive Technology to place 11.2M shares at HK$20.88/share

    • China to implement market-based electricity bidding for renewable energy projects completed after 1-June

    • 543524.IN -- Rainbow Children's Medicare reports Q3 consolidated EPS INR6.76 vs FactSet INR5.90 [1 est]

  • On Deck:

    • China:

      • Economic:

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

        • 08:00 CST: M2 NSA Y/Y; consensus +7.4%

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: Loan Growth Y/Y; consensus

    • Japan:

      • Economic:

        • 08:50 JST: Bank Loans NSA Y/Y; consensus

      • Earnings:

        • Shiseido (4911.JP), ORIX (8591.JP), SoftBank Corp (9434.JP), Maruha Nichiro (1333.JP), SHO-BOND Holdings (1414.JP), Obayashi (1802.JP), Taikisha (1979.JP), Morinaga & Co. (2201.JP), Meiji (2269.JP), M3 (2413.JP), Alfresa Holdings (2784.JP), The Monogatari (3097.JP), Iida Group Holdings (3291.JP), KI-Star Real Estate (3465.JP), Wacoal Holdings (3591.JP), T-Gaia (3738.JP), Oji (3861.JP), Kureha (4023.JP), Central Glass Co. (4044.JP), OSAKA SODA (4046.JP), ROUND ONE (4680.JP), Digital Garage (4819.JP), Kobayashi Pharmaceutical (4967.JP), Maruichi Steel Tube (5463.JP), Fujikura (5803.JP), OMRON (6645.JP), Nitto Kogyo (6651.JP), Nishi-Nippon Financial Holdings (7189.JP), Medipal Holdings (7459.JP), Workman (7564.JP), Yaoko Co. (8279.JP), The Ogaki Kyoritsu Bank (8361.JP), North Pacific Bank (8524.JP), TOMONY Holdings (8600.JP), Keio Corp (9008.JP), Daiei Kankyo (9336.JP)

    • South Korea:

      • Earnings:

        • CJ Logistics (000120.KS), Lotte Chilsung Beverage (005300.KS), OCI Holdings (010060.KS), HANWHA AEROSPACE (012450.KS)

    • Australia:

      • Earnings:

        • SGH Limited (SGH.AU), Breville Group (BRG.AU), Charter Hall Social Infrastructure REIT (CQE.AU), Region Group (RGN.AU), Seven West Media (SWM.AU)

    • India:

      • Earnings:

        • CRISIL (500092.IN), GlaxoSmithKline Pharmaceuticals (500660.IN), Gillette India (507815.IN), Avanti Feeds (512573.IN), HBL Engineering (517271.IN), Saregama India (532163.IN), Sun Pharma Advanced Research (532872.IN), Varun Beverages (540180.IN), Indigo Paints (543258.IN), Bata India (500043.IN), Grasim Industries (500300.IN), Patanjali Foods (500368.IN), Gujarat State Fertilizers & Chemicals (500690.IN), Apollo Hospitals Enterprise (508869.IN), ELGI Equipments (522074.IN), National Aluminium (532234.IN), PNC Infratech (539150.IN), MTAR Technologies (543270.IN), TVS Supply Chain Solutions (543965.IN), SignatureGlobal (India) (543990.IN)

    • Singapore:

      • Earnings:

        • DBS Group Holdings (D05.SP), PARAGON REIT (SK6U.SP)

  • Market Data:

    • Gold (Apr 25): +$6.90 or +0.24% to $2894.50

    • WTI Crude (Mar 25): +$0.13 or +0.18% to $71.13

    • $-¥: +0.16 or +0.11% to 151.5660

    • $-KRW: (1.00) or (0.07%) to 1453.9200

    • A$-$: (0.00) or (0.26%) to 0.6257

    • $-INR: (0.00) or (0.00%) to 87.7891

    • $-CNY: (0.00) or (0.00%) to 7.2877

  • If you would like to receive the Asian Market Preview daily, please search for Asia Pre-Market Updates in Alert Manager.

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to "Terms Of Use".

DEPOSITARY RECEIPTS:
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