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StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.26%, Hang Seng Futures +2.05%, ASX SPI 200 +0.73%, S&P Futures 0.00%

Mar 17 ,2025

  • Synopsis:

    • Asian markets set for positive start to Tuesday trade. Futures pointing to solid opening gains in Japan and Hong Kong. ASX also higher in initial trade. S&P 500 futures flat after index finished below its best levels on Monday. Australian bond yields higher at the front end, tracking earlier Treasury curve flattening. FX markets steady with dollar near two-week high against yen. Crude hovering near overnight lows while gold flat. Bitcoin little changed.

    • US market bounce extended into a second session with oversold conditions an easy excuse following recent pullback into correction territory. While US retail sales takeaways leaned positive, concerns continue to center on negative tariff spillovers to real economy as Trump pushes ahead with reciprocal and sector-wide tariffs from early April. Economic narrative remains bearish with OECD the latest to downgrade GDP growth forecasts amid ramp in trade risks.

    • NVDA's GPU Tech Conference coming up with CEO Jensen Huang to deliver keynote address later on Tuesday. Previews focused on pipeline updates, particularly in terms of Blackwell Ultra launch, and more details on next-gen chip, Rubin. Some talk about investor interest in GM recovery timing, China opportunities and challenges (restrictions), and commentary on DeepSeek after NVDA recently touted outsized computing requirements for reasoning models.

  • Pre-open Company News:

    • 4578.JP -- Otsuka Holdings enters agreement to acquire Araris Biotech AG for $400M (¥59.53B) upfront

    • URC.PM -- Universal Robina reports FY net income (cont.ops) PHP12.5B, (2%) vs year-ago PHP12.8B

    • 600521.CH -- Zhejiang Huahai Pharmaceutical receives FDA's ANDA temporary approval for Sitagliptin and Metformin tablet

    • 600309.CH -- Wanhua Chemical Group reports preliminary FY net income attributable CNY13.03B vs FactSet CNY14.79B [20 est, CNY13.76-15.86B]

    • 836.HK -- China Resources Power Holdings reports February net generation 15,066 GWh, +9.6% y/y

    • 405.HK -- Yuexiu Real Estate Investment Trust reports FY net income attributable after transactions with unitholders CNY291.0M, +51% vs year-ago CNY192.1M

    • 1378.HK -- China Hongqiao Group proposes USD-denominated convertible bond issue; terms yet to be determined

    • C6L.SP -- Singapore Airlines reports February traffic +0.5% y/y

    • C07.SP -- Jardine Cycle & Carriage appoints Lee Liang Whye (Freddy Lee) as interim group finance director, effective 1-Jun

    • 526371.IN -- NMDC Ltd declares 1st interim dividend INR2.30/share

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Foreign Direct Investment Y/Y; consensus

      • Earnings:

        • China Merchants Shekou Industrial Zone Holdings (001979.CH), Shaanxi International Trust (000563.CH), Fuyao Glass Industry Group (600660.CH)

    • Hong Kong:

      • Earnings:

        • China Lilang (1234.HK), Xtep International Holdings (1368.HK), OneConnect Financial Technology (6638.HK), China Literature (772.HK), XPeng, Inc. (9868.HK), Sinopec Oilfield Service (1033.HK), China Everbright Greentech (1257.HK), Kinetic Development Group (1277.HK), Meitu Inc (1357.HK), China Aircraft Leasing Group Holdings (1848.HK), CARsgen Therapeutics Holdings (2171.HK), Dmall Inc. (2586.HK), Lianlian DigiTech (2598.HK), HK Electric Investments & HK Electric Investments (2638.HK), Perennial Energy Holdings (2798.HK), China Resources Beer (Holdings) (291.HK), Sipai Health Technology (314.HK), China Unicom (Hong Kong) (762.HK), CK Life Sciences International (Holdings) (775.HK), LVGEM (China) Real Estate Investment (95.HK), GDS Holdings (9698.HK)

    • Japan:

      • Earnings:

        • ASKUL Corp (2678.JP)

    • Australia:

      • Earnings:

        • Myer Holdings (MYR.AU)

  • Market Data:

    • Gold (Apr 25): +$4.10 or +0.14% to $3010.20

    • WTI Crude (Apr 25): ($0.17) or (0.25%) to $67.41

    • $-¥: +0.76 or +0.51% to 149.3720

    • $-KRW: (8.60) or (0.59%) to 1442.5900

    • A$-$: +0.01 or +0.90% to 0.6381

    • $-INR: (0.03) or (0.03%) to 86.9174

    • $-CNY: (0.01) or (0.09%) to 7.2322

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