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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.91%), Hang Seng Futures (2.07%), ASX SPI 200 (0.93%), S&P Futures +0.03%

Feb 24 ,2025

  • Synopsis:

    • Asia equities set for a notably negative open Tuesday. Futures in Japan and Hong Kong were down ~2% alongside moderate losses in Australia. Golden Dragon China index tumbled 5.24%, Japan ADRs were skewed to declines. US futures steadied after a soft finish to the cash close. Notable tech underperformance with Nasdaq lagging S&P 500, SOX down 2.59% and big tech broadly lower with several names down sharply. Treasuries were firmer with the curve steepening. Dollar index was steady, edging higher in early Asian trading. Gold finished up 0.3%. Bitcoin futures down 0.2%. WTI crude settled up 0.4%.

    • US markets remained sluggish after Friday's sharp losses, viewed as a reflection of lingering growth uncertainties/stubborn inflation triggered by recent soft macro data. Some indications tech weakness was a function of position lightening ahead of Nvidia (NVDA) earnings Wednesday with its high-price strategy challenged by DeepSeek emergence. Indications Microsoft (MSFT) reducing data center capacity also reverberated. President Trump remains largely the center of media attention surrounding geopolitical developments in Europe and tariff policy. No major developments on tariffs beside Trump's affirmation that levies on Canada and Mexico were proceeding on schedule. Yesterday's report that Trump directed CFIUS to restrict Chinese investments in strategic areas was cited for overnight China tech weakness, sending Alibaba ADRs (BABA) down 10.23%.

    • Asia region very light on news flow. Main event will be the BOK meeting with virtually unanimous expectations for a 25 bp rate cut following last month's surprising decision to remain on hold. Forward projections look for further easing in Q2 and Q3 against the backdrop of sluggish growth momentum and US tariff risk. Japan markets remain sensitive to hawkish signals from macro data with yen 1m implied vol elevating ahead of Friday's Tokyo CPI. Speculation has so far largely been momentum driven with no specific conviction in the narrative about an acceleration from the currently expected semi-annual pace of rate hikes or a higher terminal rate. Economist consensus still looks for one more move this year around July, though money markets mostly pricing in two hikes.

  • Pre-open Company News:

    • 9988.HK -- Alibaba Group to invest minimum of CNY380B in cloud computing and AI infrastructure in next three years (earlier)

    • 688375.CH -- Guobo Electronics reports preliminary FY net income attributable CNY484.6M vs FactSet CNY504.1M [4 est, CNY459.4-597M]

    • 2007.HK -- Country Garden Holdings releases 2023 ESG report

    • 2869.HK -- Greentown Service Group CFO Xia Yun resigns to focus on personal matters, effective today

    • 688008.CH -- Montage Technology reports preliminary FY net income attributable CNY1.41B vs FactSet CNY1.39B [11 est, CNY1.30-1.45B]

    • Hong Kong stock connect daily turnover

    • 688281.CH -- Shaanxi Huaqin Technology Industry reports preliminary FY net income attributable CNY414.1M vs FactSet CNY500.8M [7 est, CNY484-507M]

    • 813.HK -- Shimao Group's restructuring plan approved by creditors at scheme meeting

    • 601865.CH -- Flat Glass Group completes up to CNY600M A-share buyback announced in Feb 2024

    • INGN -- Yuyue Medical Equipment completes acquisition of 9.9% stake in Inogen; deal was announced on 26-Jan

    • LHC.VN -- Lam Dong Investment Hydraulic Construction proposes second dividend VND1,000/share

    • 002152.CH -- GRG Banking Equipment reports preliminary FY net income attributable CNY917.1M vs year-ago CNY976.9M

    • BWCU.SP -- EC World Real Estate Investment Trust reports Q4 calculated distribution to unitholders nil vs year-ago SG$5.6M

    • 688234.CH -- SICC Co. files for Hong Kong IPO through CICC, CITIC Securities

  • On Deck:

    • Hong Kong:

      • Earnings:

        • SUNeVision Holdings (1686.HK), ASMPT (522.HK)

    • South Korea:

      • Economic:

        • 11:10 KST: BoK Repo Rate; consensus +2.8%

      • Earnings:

        • HYBE Co. (352820.KS)

    • Australia:

      • Earnings:

        • BigTinCan Holdings (BTH.AU), Centuria Industrial REIT (CIP.AU), DroneShield (DRO.AU), Eureka Group Holdings (EGH.AU), Earlypay (EPY.AU), Solvar (SVR.AU), Appen (APX.AU), Bapcor (BAP.AU), NextEd Group (NXD.AU), PointsBet Holdings (PBH.AU), Smartgroup (SIQ.AU), Australian Clinical Labs (ACL.AU), Ainsworth Game Technology (AGI.AU), Apiam Animal Health (AHX.AU), Atturra (ATA.AU), Cettire (CTT.AU), Calix Ltd (CXL.AU), EML Payments (EML.AU), Flight Centre (FLT.AU), Integral Diagnostics (IDX.AU), Lynas Rare Earths (LYC.AU), Platinum Asset Management (PTM.AU), ReadyTech Holdings (RDY.AU), Regal Partners (RPL.AU), Scentre Group (SCG.AU), Steadfast Group (SDF.AU), Tyro Payments (TYR.AU), Wagners Holding (WGN.AU), Worley (WOR.AU)

    • New Zealand:

      • Earnings:

        • Meridian Energy (MEL.NZ), Scales Corp. (SCL.NZ), NZME (NZM.NZ), Vector (VCT.NZ)

    • Singapore:

      • Earnings:

        • City Developments (C09.SP), China Everbright Water (U9E.SP), Aztech Global (8AZ.SP), Nanofilm Technologies International (MZH.SP), SBS Transit (S61.SP), Singapore Land Group (U06.SP)

    • Taiwan:

      • Earnings:

        • Vanguard International Semiconductor (5347.TT), Mega Financial Holding (2886.TT), Jentech Precision Industrial (3653.TT), Chailease Holding (5871.TT), PharmaEssentia (6446.TT), Powerchip Semiconductor Manufacturing (6770.TT), Elite Material (2383.TT), WT Microelectronics (3036.TT), Unimicron Technology (3037.TT)

    • Thailand:

      • Earnings:

        • CP All Public (CPALL.TB)

  • Market Data:

    • Gold (Apr 25): +$3.90 or +0.13% to $2967.10

    • WTI Crude (Apr 25): +$0.18 or +0.25% to $70.88

    • $-¥: +0.52 or +0.35% to 149.8060

    • $-KRW: (8.45) or (0.59%) to 1428.3900

    • A$-$: (0.00) or (0.25%) to 0.6342

    • $-INR: +0.02 or +0.03% to 86.6844

    • $-CNY: (0.00) or (0.05%) to 7.2471

  • 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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