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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.49%), Hang Seng Futures (0.74%), ASX SPI 200 (0.93%), S&P Futures (0.13%)

Feb 19 ,2025

  • Synopsis:

    • Asian markets set for negative start to Thursday trade. Futures signaling opening declines in Japan and Hong Kong. ASX lower in initial trade. US contracts little changed after finishing higher in quiet Wednesday trade. Australian bond yields down slightly after Treasuries firmed on Wednesday. Gold off overnight lows while crude flat. Dollar steady on major crosses. Bitcoin unchanged after rebounding from early February lows.

    • China expected to leave 1Y and 5Y LPRs unchanged at 3.10% and 3.60% respectively. Market rhetoric on easing expectations have receded lately with March NPC approaching amid elevated stimulus expectations. Dynamics seen as more balanced with record bank lending in January lessening need for immediate action. PBOC has reaffirmed an easing bias though has also emphasized yuan stability in latest comments from Governor Pan.

    • Nothing really market moving from FOMC minutes, which reiterated Fed can afford to be patient amid elevated inflation. Rate cut expectations little changed with futures still pricing in next cut in July and ~40 bp of easing in 2025. Speaking earlier Fed Vice Chair Jefferson echoed patience mantra, noting strength of US economy and bump disinflation trajectory. Atlanta Fed President Bostic also expressed comfort pausing rate cuts to assess incoming information.

    • Australian employment data forecast to show step down in headline jobs growth and uptick in unemployment rate. Follows run of hotter-than-expected jobs data that prompted RBA on Tuesday to strengthen its language on labor market tightness and revise down unemployment rate forecasts. While economists acknowledged hawkish nature of Tuesday's rate cut, easing expectations were kept intact with most anticipating next move occurring in May.

    • Alibaba (9988.HK) reports Q3 earnings Thursday. Stock has surged to all-time high with year-to-date gain of 51%, bringing its forward P/E closer to five-year average. Lot of attention will be on group's cloud business and extent to which it is monetizing AI demand as DeepSeek hype fuels optimism over cloud services revenue. Separately, The Information reported DeepSeek exploring external funding and has drawn interest from Alibaba.

  • Pre-open Company News:

    • 14.HK -- Street Takeaways - Hysan Development FY results

    • AOT.TB -- Airports of Thailand Public Co. reports January total aircraft movement 75,050, +17.3% y/y

    • 9636.HK -- JF SmartInvest Holdings initiated buy at Soochow Securities (timing uncertain)

    • OXMU.SP -- Prime US REIT reports FY distributable income $38.2M vs FactSet $32.1M [4 est, $9-47.2M]

    • 000661.CH -- Changchun High-Tech Industry (Group) Co. receives NMPA's acceptance notice for marketing application of leuprolide acetate injection

    • 544.SP -- CSE Global reports Q4 new orders SG$235.3M vs year-ago SG$300.3M

    • F83.SP -- COSCO Shipping International (Singapore) guides FY net profit attributable SG$5.3M vs year-ago SG$1.9M

    • 6618.HK -- JD Health International initiated buy at Sealand Securities (timing uncertain)

    • 2778.HK -- Champion Real Estate Investment Trust reports FY distributable income HK$958M vs FactSet HK$944.4M

    • 539551.IN -- Narayana Hrudayalaya downgraded to accumulate from buy at SMIFS Securities

    • 2633.TT -- Taiwan High Speed Rail reports FY EPS NT$1.15; StreetAccount notes the year-ago figure was NT$1.39

    • 532605.IN -- JBM Auto unit receives order worth INR55.00B from CESL under PM E-bus Sewa Scheme-II

    • 2633.TT -- Taiwan High Speed ​​Rail appoints James Jeng as chairman, effective today

    • 2522.HK -- Jiangxi Rimag Group enters strategic cooperation agreement with Xunfei Healthcare; terms undisclosed

  • On Deck:

    • China:

      • Economic:

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

        • 09:30 CST: 1 Year Loan Prime Rate; consensus

    • Hong Kong:

      • Earnings:

        • NetEase Cloud Music (9899.HK), Lenovo Group (992.HK), The Bank of East Asia (23.HK), HKT Trust & HKT (6823.HK)

    • Australia:

      • Economic:

        • 11:30 AEST: Unemployment Rate; consensus 4%

        • 11:30 AEST: Employment SA; consensus +17.5K

      • Earnings:

        • Chrysos (C79.AU), Peet (PPC.AU), Australian Vintage (AVG.AU), Guzman y Gomez (GYG.AU), AMA Group (AMA.AU), Austal (ASB.AU), Accent Group (AX1.AU), Codan (CDA.AU), Coast Entertainment Holdings (CEH.AU), Gold Road Resources (GOR.AU), Inghams Group (ING.AU), Lindsay Australia (LAU.AU), Latitude Group Holdings (LFS.AU), PWR Holdings (PWH.AU), Peter Warren Automotive Holdings (PWR.AU), Reef Casino Trust (RCT.AU), Rural Funds Group (RFF.AU), Ramelius Resources (RMS.AU), Superloop (SLC.AU), Telix Pharmaceuticals (TLX.AU)

    • New Zealand:

      • Earnings:

        • Genesis Energy (GNE.NZ), NZX (NZX.NZ), SKY Network Television (SKT.NZ), Spark New Zealand (SPK.NZ)

    • India:

      • Earnings:

        • CIE Automotive India (532756.IN)

    • Singapore:

      • Earnings:

        • Sasseur REIT (CRPU.SP), Singapore Post (S08.SP), Manulife US REIT (BTOU.SP), Singapore Airlines (C6L.SP), Wilmar International (F34.SP), Genting Singapore (G13.SP)

    • Taiwan:

      • Earnings:

        • Far EasTone Telecommunications (4904.TT)

    • Thailand:

      • Earnings:

        • PTT Public Co. (PTT.TB)

    • Philippines:

      • Earnings:

        • Ayala Land (ALI.PM), Metropolitan Bank & Trust (MBT.PM)

  • Market Data:

    • Gold (Apr 25): +$13.60 or +0.46% to $2949.70

    • WTI Crude (Mar 25): ($0.11) or (0.15%) to $72.14

    • $-¥: (0.72) or (0.48%) to 151.3400

    • $-KRW: (1.91) or (0.13%) to 1439.9800

    • A$-$: (0.00) or (0.20%) to 0.6340

    • $-INR: (0.04) or (0.05%) to 86.8829

    • $-CNY: +0.00 or +0.04% to 7.2828

  • 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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