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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures 0.00%, Hang Seng Futures (0.97%), ASX SPI 200 (0.62%), S&P Futures +0.03%

Feb 18 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Wednesday trade. Futures signaling opening decline in Hong Kong and flat start in Japan. Australia weaker in initial trade. US contracts unchanged afterhours amid muted response to Trump's latest tariff news. Australian bond yields extending move higher after Treasury curve bear steepened. FX markets steady after dollar saw marginal gains. Crude and gold little changed following overnight strength. Bitcoin recouping earlier losses.

    • Tariffs remain a headline focus after Trump flagged at least 25% rate on auto, pharma and chip imports with formal announcement coming 2-Apr. However, Trump also flagged grace period for companies to move their operations to US to avoid the tariffs. Trump has said previously these would be on top of reciprocal tariffs that are planned to go into effect in April. Meanwhile, steel and aluminum tariffs set to go into effect next month while 25% tariffs on Mexico and Canada remain suspended until early March.

    • RBNZ expected to cut official cash rate by 50 bp to 3.75% at Wednesday's meeting. Expectations for another outsized firmed with New Zealand's economy entering recession and inflation close to 2%target midpoint. Focus will also be on updated OCR projections with economists anticipating RBNZ will model a lower terminal rate that implies further 75 bp of easing this year.That would be consistent with views RBNZ will look to slow pace of easing beyond February.

    • Takeaways from RBA's 25 bp rate cut on Tuesday focused largely on hawkish forward guidance with board cautious about prospects of further easing and Governor Bullock pushing back on dovish market pricing. Several economists maintained their rate cut forecasts with the next 25 bp reduction expected in May, though handful acknowledged risk of shallower or elongated easing cycle. Market pricing was little changed following meeting with May rate cut odds at ~80%.

  • Pre-open Company News:

    • 2344.TT -- Winbond Electronics reports FY EPS NT$0.14 vs FactSet NT$0.31 [4 est, NT$0.15-0.60] [on hold for Q4]

    • 2601.HK -- China Pacific Insurance (Group) reports 1-Jan to 31-Jan premium income

    • 587.HK -- China Conch Environment Protection Holdings guides FY net income attributable CNY4.0-10.0M vs year-ago CNY264.1M

    • 2344.TT -- Winbond Electronics CFO Chou Chih-Chung steps down due to work adjustments, effective immediately

    • 600031.CH -- Sany Heavy Industry confirms reported Hong Kong listing plan; details to be disclosed

    • VVY.NA -- Vivoryon Therapeutics host a virtual R&D update with KOL (Key Opinion Leader) speakers

    • 9885.HK -- YSB, Inc. guides FY net income attributable no less than CNY20M vs year-ago (CNY3.19B)

    • 2202.HK -- China Vanke to set up rental property fund with New China Life Insurance, Dajia Insurance

    • 1250.HK -- Shandong Hi-Speed Holdings Group closes mandatory cash offer for Shandong Hi-Speed New Energy Group

    • 543635.IN -- FDA concludes inspection at Piramal Pharma's Turbhe facility with six observations

    • NEX.TB -- Energy Absolute Public acquires additional 660.8M shares in Nex Point Public for THB5.99B, representing a 24.8% stake

    • 300661.CH -- SG Micro initiated recommend at Minsheng Securities (timing uncertain)

  • On Deck:

    • China:

      • Economic:

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

    • Hong Kong:

      • Earnings:

        • Hang Seng Bank (11.HK), Champion Real Estate Investment Trust (2778.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Import NSA Y/Y (Preliminary); consensus +8%

        • 08:50 JST: Export NSA Y/Y (Preliminary); consensus +7.9%

        • 08:50 JST: Trade Balance NSA (Preliminary); consensus

        • 08:50 JST: Core Machinery Orders ex-Electric Power Companies & Ships SA M/M; consensus +0.4%

      • Earnings:

        • The Yokohama Rubber (5101.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Wage Price Index Y/Y; consensus +3.2%

      • Earnings:

        • Lycopodium (LYL.AU), Servcorp (SRV.AU), Santos (STO.AU), Autosports Group (ASG.AU), Integrated Research (IRI.AU), Megaport (MP1.AU), Pilbara Minerals (PLS.AU), Redox Ltd. (RDX.AU), Ridley Corp. (RIC.AU), Transurban Group (TCL.AU), Aspen Group (APZ.AU), Bega Cheese (BGA.AU), Beacon Lighting Group (BLX.AU), Brambles (BXB.AU), CogState (CGS.AU), Charter Hall Group (CHC.AU), Duratec (DUR.AU), EQT Holdings (EQT.AU), EnviroSuite (EVS.AU), Healius (HLS.AU), Harmoney Corp. (HMY.AU), Insignia Financial (IFL.AU), IGO Limited (IGO.AU), IPH (IPH.AU), MA Financial Group (MAF.AU), Magellan Financial Group (MFG.AU), MAAS Group (MGH.AU), National Australia Bank (NAB.AU), Netwealth Group (NWL.AU), Qube Holdings (QUB.AU), Regis Resources (RRL.AU), Sonic Healthcare (SHL.AU), Super Retail Group (SUL.AU), The Reject Shop (TRS.AU), Universal Store Holdings (UNI.AU), Wesfarmers (WES.AU)

    • New Zealand:

      • Earnings:

        • Auckland International Airport (AIA.NZ), SKYCITY Entertainment Group (SKC.NZ), Vital Healthcare Property Trust (VHP.NZ), Air New Zealand (AIR.NZ), Precinct Properties NZ & Precinct Properties Investments (PCT.NZ)

    • Singapore:

      • Earnings:

        • United Overseas Bank Ltd. (Singapore) (U11.SP), Singtel (Z74.SP), Prime US REIT (OXMU.SP)

  • Market Data:

    • Gold (Apr 25): +$4.20 or +0.14% to $2953.20

    • WTI Crude (Mar 25): ($0.10) or (0.14%) to $71.75

    • $-¥: (0.28) or (0.19%) to 152.0220

    • $-KRW: (0.87) or (0.06%) to 1440.5800

    • A$-$: +0.00 or +0.02% to 0.6353

    • $-INR: +0.16 or +0.18% to 86.8872

    • $-CNY: +0.02 or +0.34% to 7.2786

  • 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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