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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.75%, Hang Seng Futures +1.46%, ASX SPI 200 (0.10%), S&P Futures (0.10%)

Mar 05 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Thursday trade. Futures signaling opening gains in Japan and Hong Kong. ASX weaker in initial trade. US contracts weakening slightly afterhours. Australian yield curve bear steepening, taking cues from earlier German bund sell-off. FX markets steady after dollar index logged biggest daily decline since Nov-2023. Crude flat after falling to Sep-2024 lows. Gold little changed. Bitcoin flat after reclaiming $90K.

    • Overnight bounce tabbed to tariff reprieve hopes after White House gave one month tariff exemption for autos. Commerce Secretary Lutnick also said specific products compliant with USMCA could receive relief. Still a lot of uncertainty with Trump not backing down on his tariff strategy. Comes amid pickup in concerns around tariff-related headwinds to US economy and surge in inflation expectations. Treasury rally accompanied by dollar pullback to Nov-2024 lows with markets now pricing in three Fed rate cuts in 2025.

    • German bond sell-off the other big story overnight with yields registering biggest daily rise since early 1990s after German lawmakers agreed to release fiscal handbrake in bid to ramp up defense spending. Euro up 4% week-to-date to highest since Nov-2024. Markets paying more attention to geopolitical developments as EU urgently seeks to bolster defense capabilities and support Ukraine, contributing to recent rally in European and Asian defense stocks.

    • Noting surprising from China NPC takeaways with economic targets in-line with expectations. Observers still saw need for stronger consumer-focused stimulus with goods trade-in subsidies seen having only temporary effects and spending elsewhere remaining very weak. Welfare support pledges also seen as incremental Some thought China keeping stimulus powder dry to counter tariffs. Tech seen as big winner with government declaring support for widespread application of LLMs.

  • Pre-open Company News:

    • 1808.JP -- HASEKO confirms Japan Fair Trade Commission conducted on-site inspection of unit for suspected condo refurbishment-related violation

    • 1918.HK -- Sunac China Holdings reports February contracted sales value CNY1.80B; StreetAccount notes the year-ago figure was CNY2.73B

    • 9996.HK -- Peijia Medical completes first two Trilogy Transcatheter Heart Valve implants in Taiwan for severe aortic regurgitation

    • 884.HK -- CIFI Holdings (Group) reports February contracted sales CNY1.61B; StreetAccount notes the year-ago figure was CNY2.24B

    • 1093.HK -- CSPC Pharmaceutical Group obtains clinical trial approval from NMPA for JMT108 in advanced malignant tumors

    • 600066.CH -- Yutong Bus reports February vehicle sales 1,571 units vs year-ago 1,385 units

    • 732.HK -- Truly International Holdings reports February revenue HK$1.30B, +13.5% y/y

    • 600588.CH -- Yonyou Network Technology raises maximum price of up to CNY100M share buyback plan from CNY13/share to CNY23/share

    • 6446.TT -- PharmaEssentia reports February revenue NT$1.02B, +73.8% y/y

    • 600925.CH -- Jiangsu Xukuang Energy elects Yu Yang as new chairman, effective today

    • 601168.CH -- Western Mining controlling shareholder completes 1.7% share increase, totaling CNY679.3M

  • On Deck:

    • Hong Kong:

      • Earnings:

        • JD Logistics (2618.HK), JD Health International (6618.HK), Horizon Construction Development (9930.HK), Lee & Man Paper Manufacturing (2314.HK), China Tobacco International (HK) (6055.HK), MTR Corp. (66.HK)

    • Japan:

      • Earnings:

        • Sekisui House (1928.JP), Kanamoto (9678.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Building Approvals SA M/M; consensus

        • 11:30 AEST: Trade Balance on Goods; consensus +A$5.9B

    • India:

      • Earnings:

        • Hexaware Technologies (544362.IN)

    • Malaysia:

      • Economic:

        • 02:00 EST: BN Overnight Policy Rate; consensus +3%

    • Taiwan:

      • Earnings:

        • Uni-President Enterprises (1216.TT), Lotus Pharmaceutical (1795.TT), Yulon Motor (2201.TT), Voltronic Power Technology (6409.TT)

    • Philippines:

      • Earnings:

        • International Container Terminal Services (ICT.PM)

  • Market Data:

    • Gold (Apr 25): +$1.40 or +0.05% to $2927.40

    • WTI Crude (Apr 25): +$0.15 or +0.23% to $66.46

    • $-¥: (0.90) or (0.60%) to 148.9150

    • $-KRW: (10.25) or (0.71%) to 1443.0300

    • A$-$: +0.01 or +1.02% to 0.6338

    • $-INR: (0.35) or (0.40%) to 86.8549

    • $-CNY: (0.02) or (0.21%) to 7.2501

  • 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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