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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.43%), Hang Seng Futures +1.95%, ASX SPI 200 +0.21%, S&P Futures +0.03%

Feb 20 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Friday trade. Futures signaling opening decline in Japan while Hang Seng futures higher and ASX gaining in initial trade. S&P 500 futures flat following negative Friday session. Australian bond yields tracking earlier Treasury curve flattening. FX markets steady after dollar index fell to two-month low. Crude and gold little changed after logging mild gains in cash session. Bitcoin flat after recovering to one-week high.

    • Yen strength the big story in FX markets after hitting two-month high against dollar. No one specific factor behind latest strength with press highlighting geopolitical considerations, FOMC minutes that weighed prospects for a QT pause/slowdown, BOJ rate hike speculation and hawkish takeaways from board member Takata's speech this week. Dollar weakness also partly attributed to Trump policy volatility and tariff actions that have so far fallen short of campaign rhetoric.

    • In macro developments, RBA Governor Bullock said board has not committed to any course of action but remains cautious about prospects of further rate cuts amid risk that disinflation stalls if it eases prematurely. Japan nationwide core inflation climbed by more than forecast to highest since Jun-2023, while ex-energy and overall inflation rose in-line with expectations.

    • Nasdaq Golden Dragon index gained 2% with Alibaba (9988.HK) ADRs up 8% after Q3 revenue topped expectations. Cloud services unit a highlight amid surge in demand for inference services with group to invest aggressively in AI infrastructure over next three years. Alibaba and other tech platforms have moved to integrate DeepSeek's low-cost AI model into their services, fueling hopes of accelerated adoption with government also signaling more cooperative stance following Xi's meeting with entrepreneurs this week.

    • US-China relations in spotlight this week after Trump signaled openness to a broad trade deal. Trade tensions notched higher after Trump imposed 10% tariffs though messaging has softened with Trump praising Xi and speculating about his possible visit to Washington. Treasury Secretary Bessent to speak to his Chinese counterpart on Friday. Said call will be about rebalancing China's economy towards consumption and he expressed desire to work collaboratively.

  • Pre-open Company News:

    • 1795.TT -- Lotus Pharmaceutical receives acceptance of ANDA for Voclosporin soft capsules from FDA - Economic Daily News (14:54TT/ 01:54ET)

    • 9899.HK -- NetEase Cloud Music reports FY adjusted net income CNY1.70B, +108% vs year-ago CNY818.5M

    • 856.HK -- VSTECS subsidiary Nanjing VSTECS fully integrated with DeepSeek AI

    • 600779.CH -- Sichuan Swellfun completes buyback programme for 2.9M shares totalling CNY125.1M

    • YAL.AU -- Yancoal Australia reports FY NPAT A$1.22B, (33%) vs year-ago A$1.82B

    • 603658.CH -- Autobio Diagnostics controlling holder Autobio Group completes purchase of CNY150-300M of shares as announced in Aug 2024

    • 500049.IN -- Bharat Electronics receives orders worth INR12.92B

    • PANR.LN -- Pantheon Resources agrees to issue between $30.5-35.0M in aggregate principal amount of convertible bonds due Mar-28 to Sun Hung Kai & Co. Ltd

    • 603658.CH -- Autobio Diagnostics completes CNY250-500M share buyback announced in Feb 2024

    • G13.SP -- Genting Singapore reports FY adjusted EBITDA SG$960.1M vs FactSet SG$973.5M [11 est, SG$894.6-1.13B]

    • C6L.SP -- Singapore Airlines reports Q3 net income attributable SG$1.63B vs year-ago SG$659M

    • F34.SP -- Wilmar International reports FY adjusted net income $1.16B vs FactSet $1.25B

    • 6066.HK -- CSC Financial chairman and executive director Wang Changqing resigns due to reaching retirement age

  • On Deck:

    • Hong Kong:

      • Earnings:

        • PCCW Ltd (8.HK), Sands China (1928.HK)

    • Japan:

      • Economic:

        • 08:30 JST: CPI Core National Y/Y; consensus

        • 08:30 JST: CPI National Y/Y; consensus +3.9%

        • 08:30 JST: CPI ex-Fresh Food and Energy; consensus +2.9%

    • Australia:

      • Earnings:

        • Rural Funds Group (RFF.AU), Michael Hill International (MHJ.AU)

    • Malaysia:

      • Economic:

        • 23:00 EST: CPI NSA Y/Y; consensus +1.8%

    • Singapore:

      • Earnings:

        • Seatrium (5E2.SP), StarHub (CC3.SP), Haw Par Corp. (H02.SP), Vicom (WJP.SP)

    • Taiwan:

      • Earnings:

        • Walsin Lihwa (1605.TT), King Yuan Electronics (2449.TT), Faraday Technology (3035.TT)

    • Thailand:

      • Earnings:

        • Regional Container Lines Public (RCL.TB)

  • Market Data:

    • Gold (Apr 25): +$0.30 or +0.01% to $2956.40

    • WTI Crude (Mar 25): $0.00 or 0.00% to $72.57

    • $-¥: (1.89) or (1.25%) to 149.5830

    • $-KRW: (9.27) or (0.64%) to 1431.7000

    • A$-$: +0.01 or +0.90% to 0.6402

    • $-INR: (0.45) or (0.52%) to 86.4692

    • $-CNY: (0.03) or (0.40%) to 7.2550

  • 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