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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.83%), Hang Seng Futures (1.80%), ASX SPI 200 (1.33%), S&P Futures (0.44%)

Mar 10 ,2025

  • Synopsis:

    • Asian markets set to open sharply lower Tuesday. Futures pointing to opening losses of 2% in Japan and Hong Kong as ASX builds on initial decline. US contracts extending declines following Monday selloff that pulled S&P 500 closer to correction territory. Australian bond rally tracking earlier Treasury curve bull steepening. Yen trading at Oct-2024 highs against dollar. Crude, gold and copper adding to earlier declines. Bitcoin on cusp of Nov-2024 lows.

    • Markets remain gripped by economic concerns as Trump policy uncertainty drives pickup in recession talk. Latest selling follows Trump's weekend remarks demurring on prospect of recession and signaling no letup in his tariff strategy. Tech bearing brunt of the selloff with Nasdaq experiencing worst session since Sep-2022 and SOX hitting lowest since Aug-2024. Haven flows underpinning Treasury curve bull steepening as markets price in more Fed rate cuts in a slowing growth environment.

    • US market selloff seen having implications for index year-end price targets with strategists flagging downside risks amid fallout from recent policy volatility. Earnings growth forecasts coming down amid concerns of an economic downturn fueled by tariffs and reduced fiscal spending. Idea of a "Trump put" also being discounted with Trump insisting he is not using stock market to gauge success and Treasury Secretary Bessent focusing more on Main Street vs Wall Street.

    • On geopolitical front, press sources reported US and China officials in talks about setting up a Xi-Trump summit in June. Comes amid recent discussion about how China's targeted tariff retaliation aimed in part at leaving room for talks. US and Ukraine officials to meet in Saudi Arabia Tuesday in bid to revive efforts towards ceasefire and signing of minerals deal. US Energy Secretary Chris Wright said administration prepared to enforce sanctions on Iranian oil.

  • Pre-open Company News:

    • 003620.KS -- KG Mobility to conduct capital reduction in par value of stock from KRW5,000/share to KRW1,000/share

    • 4751.JP -- CyberAgent upgraded to A from B at Ichiyoshi Securities

    • 3132.JP -- Macnica Holdings holder Dalton Investments discloses 5.01% stake

    • 2105.TT -- Cheng Shin Rubber Ind. reports February revenue NT$7.34B, +15.5% y/y

    • 2881.TT -- Fubon Financial Holding reports February PBT NT$18.11B; StreetAccount notes the year-ago figure was NT$9.56B

    • 2207.TT -- Hotai Motor reports February consolidated revenue NT$21.97B, +23.8% y/y

    • 9945.TT -- Ruentex Development reports February revenue NT$2.47B, +50.5% y/y

    • 2615.TT -- Wan Hai Lines reports February revenue NT$10.63B, +20.0% y/y

    • 6415.TT -- Silergy reports February revenue NT$1.33B, +39.6% y/y

    • 014680.KS -- Hansol Chemical reports FY operating profit KRW128.83B vs FactSet KRW128.98B [8 est, KRW127.40-131.63B]

    • 1402.TT -- Far Eastern New Century reports February revenue NT$19.65B, +0.8% y/y

    • 7182.JP -- Japan Post Holdings sets Japan Post Bank secondary offering price at ¥1,444/share

    • 1299.HK -- StreetAccount Consensus Metrics Preview - AIA Group FY Earnings

    • 2376.TT -- Gigabyte Technology reports February revenue NT$22.33B, +59.8% y/y

    • 2382.HK -- Sunny Optical Technology (Group) reports February optical handset lens set shipments 97.2M, (6.9%) y/y

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: M2 NSA Y/Y; consensus

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

    • Hong Kong:

      • Earnings:

        • Sunlight Real Estate Investment Trust (435.HK), Genscript Biotech (1548.HK), Dekon Food & Agriculture Group (2419.HK), Pou Sheng International (Holdings) (3813.HK), Yue Yuen Industrial (Holdings) (551.HK)

    • Japan:

      • Economic:

        • 08:30 JST: Real Household Income Y/Y; consensus

        • 08:30 JST: Real Household Consumption Expenditure Y/Y; consensus

        • 08:50 JST: GDP SA Q/Q (Final); consensus +0.4%

        • 08:50 JST: GDP SAAR Q/Q (Final); consensus +2.2%

        • 08:50 JST: GDP Y/Y (Final); consensus +1.2%

      • Earnings:

        • Mitsui High-tec (6966.JP)

    • South Korea:

      • Earnings:

        • HANMI Semiconductor (042700.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: NAB Business Confidence; consensus

    • Taiwan:

      • Earnings:

        • Nan Ya Plastics (1303.TT), Inventec (2356.TT), ASUSTek Computer (2357.TT), Wan Hai Lines (2615.TT), Gold Circuit Electronics (2368.TT)

  • Market Data:

    • Gold (Apr 25): ($10.70) or (0.37%) to $2888.70

    • WTI Crude (Apr 25): ($0.34) or (0.51%) to $65.69

    • $-¥: (1.17) or (0.79%) to 146.8590

    • $-KRW: +8.90 or +0.61% to 1456.5700

    • A$-$: (0.00) or (0.52%) to 0.6274

    • $-INR: +0.21 or +0.24% to 87.3127

    • $-CNY: +0.03 or +0.35% to 7.2595

  • 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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