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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.87%), Hang Seng Futures +0.17%, ASX SPI 200 (0.95%), S&P Futures +0.21%

Feb 28 ,2025

  • Synopsis:

    • Asian markets set for negative start to Friday trade. Futures signaling sharp opening decline in Japan while Hang Seng futures little changed. ASX weaker in initial trade. US contracts edging higher following Thursday's tech-led retreat. Australian bonds little changed following earlier Treasury curve steepening. Crude drifting lower following Thursday rally amid reports OPEC+ cautious about hiking output in April. Gold and copper adding to declines. Bitcoin trading just above mid-November lows.

    • Trump ramped up tariff threat on Thursday, saying Canada and Mexico tariffs will proceed as scheduled on 4-Mar, blaming insufficient efforts to stem flow of fentanyl. Trump's timeline cleared up confusion after he suggested Wednesday early April start date for the tariffs. Trump also revealed China tariff will rise from 10% to 20%. Tariff remarks attributed for late afternoon risk off move on markets though still some hope for last-minute reprieve after White House official said discussions between countries ongoing.

    • Negative leads for Asia from US tech selloff on Thursday with NVDA down 9% to five-month low following 'good, but not great', earnings. SOX fell 6% while Nasdaq dropped to lowest since Nov-2024. Trump policy uncertainty compounded market jitters following latest tariff threat, further denting US exceptionalism trade. Bearish sentiment also rose sharply. Market awaiting US PCE index later Friday amid forecasts for a y/y slowdown in core inflation, coming as Fed officials continues to stress need for patience.

  • Pre-open Company News:

    • 2196.HK -- Shanghai Fosun Pharmaceutical (Group) Co. subsidiary receives clinical trial approval in China for Phase Ib/II clinical trial of XS-03

    • 000210.KS -- DL Holdings receives KRW360.74B contract from Jayang 7th District Housing Reconstruction Project Association

    • 688200.CH -- Beijing Huafeng Test & Control Technology reports preliminary FY net income attributable CNY334.8M vs FactSet CNY344.0M [11 est, CNY319.2-388.1M]

    • 688063.CH -- Pylon Technologies reports preliminary FY net income attributable CNY41.0M vs FactSet CNY97.5M [7 est, CNY40.6-139.0M]

    • 2892.TT -- First Financial Holding reports FY EPS NT$1.81 vs FactSet NT$1.80 [7 est, NT$1.76-1.84]

    • 600079.CH -- NMPA approves trial of Humanwell Healthcare unit's RFUS-301 as postoperative analgesia

    • 9926.HK -- Akeso Inc enrolls first patient in phase I clinical trial of AK138D1 for treatment of advanced malignancies in Australia

    • 688223.CH -- Jinko Solar Co. reports preliminary FY net income attributable CNY90.5M vs prior guidance CNY80-120M and FactSet CNY1.36B [7 est, CNY100.1M-2.02B]

    • 600079.CH -- NMPA approves trial of Humanwell Healthcare unit's oxcarbazepine sustained-release tablet for partial seizures

    • 975.HK -- Mongolian Mining clarifies remarks made by Mongolian minister regarding Tavan Tolgoi license

    • 600079.CH -- NMPA approves trial of Humanwell Healthcare unit's CXJM-66 as anesthesia for surgeries, postoperative analgesia

    • 688072.CH -- Piotech reports preliminary FY net income attributable CNY688.5M vs FactSet CNY651.5M [11 est, CNY537-885.6M]

    • 2454.TT -- MediaTek declares final dividend per share NT$25; StreetAccount notes that year-ago dividend was NT$30.4

  • On Deck:

    • China:

      • Earnings:

        • Beijing Oriental Yuhong Waterproof Technology (002271.CH)

    • Hong Kong:

      • Earnings:

        • Pacific Basin Shipping (2343.HK), ZTE (763.HK), New World Development (17.HK), Xinyi Energy Holdings (3868.HK), Xinyi Glass Holdings (868.HK), Ferretti (9638.HK), Xinyi Solar Holdings (968.HK)

    • Japan:

      • Economic:

        • 08:30 JST: CPI Tokyo Y/Y; consensus

        • 08:50 JST: Industrial Production SA M/M (Preliminary); consensus (1.4%)

        • 08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +3.7%

        • 14:00 JST: Housing Starts NSA Y/Y; consensus (2.3%)

    • South Korea:

      • Earnings:

        • Korea Electric Power (015760.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: Private Sector Credit M/M; consensus +0.5%

      • Earnings:

        • Burgundy Diamond Mines (BDM.AU), Imugene (IMU.AU), Kina Securities (KSL.AU), Star Entertainment Group (SGR.AU)

    • India:

      • Economic:

        • 05:30 IST: GDP NSA Y/Y; consensus +6.6%

    • Singapore:

      • Earnings:

        • Olam Group (VC2.SP), First Resources (EB5.SP), Daiwa House Logistics Trust (DHLU.SP), China Sunsine Chemical Holdings (QES.SP)

    • Taiwan:

      • Earnings:

        • WPG Holdings (3702.TT)

    • Thailand:

      • Earnings:

        • Thai Life Insurance Public (TLI.F.TB)

    • Philippines:

      • Earnings:

        • LT Group (LTG.PM), SM Investments (SM.PM)

  • Market Data:

    • Gold (Apr 25): ($10.50) or (0.36%) to $2885.40

    • WTI Crude (Apr 25): ($0.22) or (0.31%) to $70.13

    • $-¥: +0.73 or +0.49% to 149.8330

    • $-KRW: +15.04 or +1.05% to 1449.8600

    • A$-$: (0.01) or (1.12%) to 0.6234

    • $-INR: +0.14 or +0.16% to 87.3271

    • $-CNY: +0.03 or +0.35% to 7.2852

  • 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