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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.33%, Hang Seng Futures (0.38%), ASX SPI 200 +0.39%, S&P Futures (0.73%)

Mar 09 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Monday trade. Futures signaling opening gains in Japan while Hang Seng futures marginally weaker. ASX higher in initial trade. US contracts declining after key indexes registered third-straight weekly decline. Australian bond yields up 1-2 bp after Treasuries weakened Friday. Yen extending advance against dollar after DXY logged biggest weekly drop since Nov-2022. Crude pulling back after touching May-2023 lows last week. Gold steady. Bitcoin selling off following Friday's bounce on Trump's crypto reserve order.

    • Markets unnerved by Trump policy uncertainty amid stop-start tariff announcements. Growth/contraction concerns another focus after Trump acknowledged US economy facing transition period and demurred on likelihood of recession, Market volatility has ramped up amid the uncertainty, corresponding with underperformance of US equities and dollar, and pullback in Treasury yields. Market shifts driving more talk about end of US 'exceptionalism' trade with Europe and Chinese markets assuming leadership.

    • Busy weekend of trade headlines. Canada's Finance Minister offered early talks with US on USMCA renegotiation. Comes after Trump last week granted Canada and Mexico one-month tariff reprieve. Commerce Secretary Lutnick urged India to reduce tariffs on US products and open its markets as part of broader trade deal. China imposed retaliatory tariffs on Canadian agriculture products after latter China EVs and steel and aluminum in October. US steel and aluminum tariffs go into effect this week with Trump not expected to grant exemptions.

    • China deflation pressures intensified with February consumer prices weighed down by food volatility and LNY holiday timing (CPI excluding LNY effects rose marginally). However, core CPI declined for first time since Jan-2021, underscoring domestic demand softness. PPI deflation also worse-than-expected. Comes after China set 2025 CPI target at 2%, below previous 3%. Last week authorities foreshadowed fiscal measures to boost consumption and reiterated plans to ease monetary policy at an "appropriate time."

    • Friday reprieve for US stocks followed somewhat soft nonfarm payrolls data that was nonetheless considered better than feared. Fed Chair Powell's speech also observed consumption growth is moderating, and labor market is better balanced. Fedspeak has leaned more cautious lately with multiple officials flagging emerging growth concerns. Market pricing little changed with futures still pricing in three rate cuts in 2025.

  • Pre-open Company News:

    • 658.HK -- China High Speed Transmission Equipment Group discloses reasons for removal of executive director

    • 600276.CH -- NMPA approves Jiangsu Hengrui Pharmaceuticals clinical trial of injectable HRS-4029 for for acute ischemic stroke

    • 6660.HK -- NMPA provides clinical trial approval for AIM Vaccine's human diploid rabies vaccine

    • 2201.TT -- Yulon Motor reports February revenue NT$5.46B, (7.5%) y/y

    • 2362.HK -- Jinchuan Group International Resources guides FY net loss attributable not more than ($5M) vs year-ago ~($12M)

    • 9969.HK -- InnoCare Pharma presents promising data of ICP-488 for treatment of psoriasis at 2025 AAD

    • 1238.HK -- Powerlong Real Estate faces liquidation application over $500M senior notes default

    • 1238.HK -- Powerlong Real Estate Holdings reports February contracted sales CNY608M; StreetAccount notes year-ago CNY1.18B

    • 3382.JP -- Artisan Partners International Value Group sends letter to the board of Seven & i

    • 2410.HK -- TYK Medicines announces pivotal Phase II clinical trial of TY-9591 versus osimertinib met expectations with statistical and clinical significance

    • AEV.PM -- Aboitiz Equity Ventures declares FY cash dividend of PHP1.54/sh vs year-ago PHP1.40/sh

    • 2498.TT -- HTC Corp reports FY EPS (NT$4.11) vs FactSet (NT$4.38) [1 est]

    • Z74.SP -- Singtel notes Comcentre redevelopment conditions precedent satisfied or waived; Lendlease subscribes for 49% stake in PropCo

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Loan Growth Y/Y; consensus

        • 08:00 CST: M2 NSA Y/Y; consensus +7.2%

        • 08:00 CST: New Yuan Loans; consensus

    • Hong Kong:

      • Earnings:

        • Zhejiang Leapmotor Technology (9863.HK), SITC International Holdings (1308.HK), AsiaInfo Technologies (1675.HK), Wharf Real Estate Investment (1997.HK), Qunabox Group (917.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Bank Loans NSA Y/Y; consensus

        • 14:00 JST: Leading Index (Preliminary); consensus

      • Earnings:

        • Ain Holdings (9627.JP)

    • Australia:

      • Earnings:

        • Delta Lithium (DLI.AU)

    • Singapore:

      • Earnings:

        • DFI Retail Group Holdings (D01.SP), Jardine Matheson Holdings (J36.SP)

    • Taiwan:

      • Earnings:

        • HTC Corp (2498.TT), China Airlines (2610.TT), Lotes Co. (3533.TT), KGI Financial Holdings (2883.TT)

    • Philippines:

      • Earnings:

        • Aboitiz Equity Ventures (AEV.PM)

  • Market Data:

    • Gold (Apr 25): +$8.40 or +0.29% to $2922.50

    • WTI Crude (Apr 25): ($0.46) or (0.69%) to $66.58

    • $-¥: (0.52) or (0.35%) to 147.5090

    • $-KRW: (1.00) or (0.07%) to 1446.6700

    • A$-$: (0.00) or (0.03%) to 0.6305

    • $-INR: +0.05 or +0.05% to 87.1491

    • $-CNY: (0.00) or (0.01%) to 7.2333

  • 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
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