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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.31%, Hang Seng Futures (0.03%), ASX SPI 200 +0.72%, S&P Futures +0.27%

Mar 19 ,2025

  • Synopsis:

    • Asian markets set for mostly positive start to Thursday trade. ASX higher in initial trade while Hang Seng futures signaling flat open. Japan closed for public holiday. S&P 500 futures adding to gains afterhours. Australian bond yields lower across the curve following post-Fed Treasury rally. Dollar flat after reversing earlier strength following Fed. Gold extending gains to fresh record high. Crude little changed near overnight close. Bitcoin extending rebound to two-week high.

    • Initial takeaways from Fed's hold decision leaned dovish with particular focus on statement noting ramp in uncertainty due to tariffs, policymakers downgrading US GDP growth forecasts (though Powell said recession odds not high), Fed moving to slow QT, and Powell's view inflation impact from tariffs may be 'transitory' (after SEP upgraded CPI forecasts). Treasury curve bull steepened in aftermath with markets continuing to price in Fed two rate cuts in 2025 (and ~50% chance of a third).

    • In other developments, Tencent (700.HK) quarterly revenue topped forecasts amid boost from gaming. Group also flagged increased AI investment in 2025 (though relatively unchanged from 2024 as a percentage of revenue).Nothing incremental from Trump on tariffs though press continue to highlight White House focus on reciprocal tariffs (2-Apr). Geopolitics a headline focus with Trump positive on Ukraine ceasefire progress following his call with Zelensky (though situation in Europe and Middle East continues to be ignored by markets.

    • Another busy day on economic calendar. Australian employment data expected to show still tight labor market with another outsized increase in jobs and unchanged jobless rate. China expected to leave 1Y and 5Y loan prime rates unchanged following policymaker rhetoric downplaying urgency for rate cuts. Earlier, New Zealand Q4 GDP growth came in stronger than forecast following RBNZ's rate cuts. Later this evening SNB expected to cut by 25 bp while BOE expected to hold.

  • Pre-open Company News:

    • 500331.IN -- Street Takeaways - Pidilite Industries Analyst Meet

    • 4633.JP -- Sakata Inx launches up-to-¥1.00B buyback, to run between today and 30-Sep

    • 4633.JP -- Sakata Inx to cut cross-shareholdings other than unlisted shares to zero from next FY onwards

    • 6135.JP -- Makino Milling Machine Co. to hold shareholder meeting in response to Nidec's proposed acquisition

    • 3.HK -- Hong Kong & China Gas reports FY net income attributable HK$5.71B vs FactSet HK$6.17B [5 est, HK$6.03-6.50B]

    • 700.HK -- Tencent Holdings reports Q4 non-IFRS net income attributable CNY55.31B vs FactSet CNY52.79B [24 est, CNY43.73-58.01B]

    • 2883.HK -- StreetAccount Consensus Metrics Preview - China Oilfield Services FY Earnings

    • 600031.CH -- Sany Heavy Industry chairman proposes CNY1-2B share buyback, to run for 12 months

    • 6060.HK -- ZhongAn Online P&C Insurance reports FY net income attributable CNY603.5M vs FactSet CNY585.2M [4 est, CNY510-650M]

    • 6.HK -- Power Assets Holdings reports FY net income attributable HK$6.12B vs FactSet HK$6.18B [4 est, HK$6.01-6.28B]

    • 1038.HK -- CK Infrastructure Holdings reports FY net income attributable HK$8.12B vs FactSet HK$8.23B [8 est, HK$8.08-8.44B]

  • On Deck:

    • China:

      • Economic:

        • 09:30 CST: 1 and 5 Year Loan Prime Rate; consensus

      • Earnings:

        • Beijing Kingsoft Office Software (688111.CH)

    • Hong Kong:

      • Earnings:

        • Sino Biopharmaceutical (1177.HK), Geely Automobile Holdings (175.HK), Stella International Holdings (1836.HK), Mobvista (1860.HK), AAC Technologies Holdings (2018.HK), Tongcheng Travel Holdings (780.HK), ANE (Cayman) (9956.HK), CK Hutchison Holdings (1.HK), CK Asset Holdings (1113.HK), Poly Property Group (119.HK), Henderson Land Development (12.HK), Cowell e Holdings (1415.HK), Shanghai Chicmax Cosmetics (2145.HK), Crystal International Group (2232.HK), Comba Telecom Systems Holdings (2342.HK), China Power International Development (2380.HK), PAX Global Technology (327.HK), Gemdale Properties & Investment (535.HK), Angelalign Technology (6699.HK), ZJLD Group (6979.HK), China Resources Power Holdings (836.HK), Sun Hung Kai & Co. (86.HK), China Mobile (941.HK), Tuhu Car (9690.HK)

    • Australia:

      • Economic:

        • 11:30 AEST: Unemployment Rate; consensus 4.1%

        • 11:30 AEST: Employment SA; consensus +30K

    • New Zealand:

      • Earnings:

        • Warehouse Group (WHS.NZ)

    • Malaysia:

      • Earnings:

        • Top Glove Corp. (7113.MK)

  • Market Data:

    • Gold (Apr 25): +$18.60 or +0.61% to $3059.80

    • WTI Crude (Apr 25): +$0.15 or +0.22% to $67.31

    • $-¥: (0.72) or (0.48%) to 148.5610

    • $-KRW: +6.94 or +0.48% to 1456.5400

    • A$-$: (0.00) or (0.05%) to 0.6359

    • $-INR: (0.23) or (0.26%) to 86.3371

    • $-CNY: +0.00 or +0.03% to 7.2298

  • 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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