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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.04%), Hang Seng Futures (0.66%), ASX SPI 200 (0.71%), S&P Futures +0.02%

Feb 16 ,2025

  • Synopsis:

    • Asia markets set for negative start to Monday trade. Futures signaling opening losses in Hong Kong and while Japan tracking for flat open. ASX lower in initial trade. US futures unchanged following last week's tech-led advance. Australian bond yields marginally lower after Treasuries firmed Friday. FX markets unchanged after dollar index fell to mid-December low. Crude and gold extending Friday's declines. Bitcoin remains range bound.

    • China tech bull run has gotten a lot attention with sector up over 30% from mid-January lows as AI hype fuels turnaround in sentiment. Bloomberg sources noted President Xi expected to meet tech entrepreneurs this week including Jack Ma and DeepSeek founder Liang Wenfeng, tying into hopes government support will help accelerate AI adoption. Southbound flows remain a widely cited driver though strategists also see global funds reassessing negative views on China as an investment destination amid recent developments.

    • In weekend developments, PBOC Governor Pan repeated pledge for more accommodative policy, adding inflation and demand could be stronger. Press sources reported TSMC (2330.TT) eyeing stake in a broken up INTC, including possible controlling share in its factories. Trump gave 2-Apr date for imposition of auto tariffs, coming after absence of details from last week's reciprocal tariff announcement was welcomed by markets. Trump also signaled openness to Nippon Steel (5401.JP) taking minority stake in US Steel (X).

    • Busy week on economic front with RBA and RBNZ expected to cut rates by 25 and 50 bp respectively. FOMC minutes (Wed) come as Fed officials voice more support for a pause amid elevated inflation. China expected to keep 1Y and 5Y loan prime rates unchanged. Japan Q4 GDP forecast to show growth continued drag on growth from consumption. Japan nationwide core CPI follows Tokyo core inflation that hit one-year high. Australian employment forecast to show labor marked cooled.

  • Pre-open Company News:

    • 600062.CH -- China Resources Double-Crane Pharmaceutical obtains NMPA clinical trial approval for DC50292A tablet in advanced solid tumors

    • 1548.HK -- Genscript Biotech guides substantial increase in net profit in FY24 vs year-ago

    • 700.HK -- Tencent's Weixin tests access to DeepSeek AI model for in-app searches - Reuters, citing spokesperson

    • 1468.HK -- Kingkey Financial International's unit Kingkey Securities to apply for SFC license to provide virtual asset dealing and advisory services

    • 7532.JP -- Pan Pacific International Holdings acquires US sushi chain Mikuni Restaurant Group; price undisclosed

    • 600483.CH -- Fujian Funeng initiated outperform at CICC

    • AOT.TB -- Airports of Thailand Public Co. downgraded to reduce from hold at CGS International

    • TOP.TB -- Thai Oil Public downgraded to reduce from hold at CGS International

    • 506285.IN -- Bayer CropScience upgraded to buy from hold at B & K Securities

    • 532749.IN -- Allcargo Logistics downgraded to hold from buy at B & K Securities

    • 531213.IN -- Manappuram Finance downgraded to hold from buy at Nirmal Bang

    • 540153.IN -- Endurance Technologies upgraded to buy from hold at Mirae Asset Securities

    • 1211.HK -- BYD Co. upgraded to buy from hold at UOB Kay Hian Securities

    • 788.HK -- China Tower downgraded to accumulate from buy at Guotai Junan (HK)

  • On Deck:

    • China:

      • Economic:

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

    • Japan:

      • Economic:

        • 08:50 JST: GDP SAAR Q/Q (Preliminary); consensus +1.3%

        • 08:50 JST: GDP SA Q/Q (Preliminary); consensus +0.3%

        • 08:50 JST: GDP Y/Y (Preliminary); consensus +0.6%

        • 13:30 JST: Industrial Production SA M/M (Final); consensus +0.3%

        • 13:30 JST: Retail Sales NSA Y/Y (Final); consensus +3.7%

      • Earnings:

        • Bridgestone (5108.JP)

    • Australia:

      • Earnings:

        • Infomedia (IFM.AU), Westpac Banking (WBC.AU), 3P Learning (3PL.AU), ARB Corp. (ARB.AU), Baby Bunting Group (BBN.AU), Big River Industries (BRI.AU), Dexus Property Group (DXS.AU), HMC Capital (HMC.AU), HUB24 (HUB.AU), humm group (HUM.AU), Macmahon Holdings (MAH.AU), Reliance Worldwide Corp. (RWC.AU), SG Fleet Group (SGF.AU), SRG Global (SRG.AU)

    • India:

      • Earnings:

        • ABB India (500002.IN)

    • Thailand:

      • Economic:

        • 09:30 SAST: GDP NSA Y/Y; consensus +3.5%

      • Earnings:

        • Thai Union Group Public (TU.TB)

  • Market Data:

    • Gold (Apr 25): ($7.50) or (0.26%) to $2893.20

    • WTI Crude (Mar 25): ($0.50) or (0.71%) to $70.24

    • $-¥: +0.04 or +0.03% to 152.3460

    • $-KRW: (1.00) or (0.07%) to 1440.4500

    • A$-$: +0.00 or +0.01% to 0.6353

    • $-INR: (0.06) or (0.07%) to 86.6682

    • $-CNY: (0.00) or (0.01%) to 7.2530

  • 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:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE