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StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.13%), Hang Seng Futures (0.54%), ASX SPI 200 (0.15%), S&P Futures (0.07%)

Mar 20 ,2025

  • Synopsis:

    • Asian markets set for negative start to Friday trade. Futures signaling opening declines in Hong Kong and Japan. ASX down slightly in initial trade. US contracts flat afterhours. Australian bonds little changed following modest Treasury curve bull steepening. FX markets steady after dollar index saw mild gain. Crude continuing to push higher after Trump administration tightened sanctions on Iranian oil. Gold steady just below record high. Bitcoin flat.

    • Not much in way of leads following uneventful US session. Recent market support tabbed to oversold conditions, positioning, and better economic data. Lower rate backdrop remains driven by pickup in growth concerns, and accentuated by dovish Fed takeaways as markets continue to price in 2-3 rate cuts in 2025. However, trade war headlines continue to overhang sentiment ahead of coming announcements on reciprocal and sectoral tariffs.

    • On corporate front, Nike (NKE) lower afterhours after warning of profitability impact from inventory reset, tariffs. China sales also weaker. Micron (MU) advancing after guiding revenue above expectations amid strong demand for HBM chips. Late Thursday CK Hutchison (1-HK) profit missed expectations with group warning of challenging operating geopolitical environment

    • US ramped up Iran sanctions by targeting Chinese 'teapot' refineries, who have been prominent buyers of Iranian crude following western sanctions. Move seen as test to gauge China's response through falls well short of more meaningful sanctions that might risk retaliation. Meanwhile, efforts to progress US-Sino trade talks continue with GOP Senator Daines to meet senior Chinese leader on Saturday after Trump claimed Xi will visit Washington in not too distant future.

  • Pre-open Company News:

    • 012450.KS -- HANWHA AEROSPACE to issue 6.0M shares; pricing is expected to be KRW605K/share

    • 600104.CH -- SAIC Motor initiated buy at Cinda Securities (timing uncertain)

    • 532978.IN -- Street Takeaways - Bajaj Finserv's acquisition of Allianz's stake in insurance JVs

    • 002595.CH -- Himile Mechanical Science & Technology (Shandong) initiated recommend at Founder Securities (timing uncertain)

    • 941.HK -- China Mobile reports FY net income attributable CNY138.37B vs StreetAccount CNY137.49B

    • 601933.CH -- Yonghui Superstores appoints reform and transformation group members to act as interim CEO

    • 9690.HK -- Tuhu Car reports FY adjusted net income CNY624.1M, +30% vs year-ago CNY481.3M

    • 780.HK -- Tongcheng Travel Holdings reports Q4 adjusted net income CNY660.2M vs StreetAccount CNY615.6M

    • 1177.HK -- Sino Biopharmaceutical reports FY net income attributable CNY3.50B vs StreetAccount CNY3.31B

    • 000661.CH -- FDA approves US trial of Changchun High-Tech unit's GenSci120 for rheumatoid arthritis

    • 029780.KS -- Samsung Card Co. CEO Dae-Hwan Kim resigns, Yi-Tae Kim appointed replacement; effective today

  • On Deck:

    • Hong Kong:

      • Earnings:

        • Road King Infrastructure (1098.HK), COSCO SHIPPING Ports (1199.HK), The Bank of Chongqing (1963.HK), Meituan (3690.HK), Sinopec (China Petroleum & Chemical) (386.HK), CMOC Group (3993.HK), Shenzhen Expressway (548.HK), MINISO Group Holding (9896.HK), China Shenhua Energy (1088.HK), Sinopharm Group (1099.HK), Brilliance China Automotive Holdings (1114.HK), Fu Shou Yuan International Group (1448.HK), Scholar Education Group (1769.HK), Zhaojin Mining Industry (1818.HK), China Coal Energy (1898.HK), COSCO SHIPPING Holdings (1919.HK), Weimob (2013.HK), Brii Biosciences Ltd (2137.HK), China Resources Beverage (Holdings) (2460.HK), Dida Inc. (2559.HK), Qiniu Ltd. (2567.HK), Greentown Service Group (2869.HK), C-MER Medical Holdings (3309.HK), China State Construction International Holdings (3311.HK), Bank of Communications (3328.HK), Hansoh Pharmaceutical Group (3692.HK), Fangzhou (6086.HK), Antengene (6996.HK), VSTECS Holdings (856.HK), Horizon Robotics (9660.HK), Jenscare Scientific (9877.HK), Dingdang Health Technology Group (9886.HK), Archosaur Games (9990.HK)

    • Japan:

      • Economic:

        • 08:30 JST: CPI Core National Y/Y; consensus

        • 08:30 JST: CPI National Y/Y; consensus +3.4%

        • 08:30 JST: CPI ex-Fresh Food and Energy; consensus +2.6%

      • Earnings:

        • Oracle Corp Japan (4716.JP)

    • Malaysia:

      • Economic:

        • 00:00 EST: CPI NSA Y/Y; consensus +1.4%

  • Market Data:

    • Gold (Apr 25): +$8.10 or +0.27% to $3051.90

    • WTI Crude (Apr 25): $0.00 or 0.00% to $68.26

    • $-¥: (0.01) or (0.01%) to 148.6770

    • $-KRW: +7.63 or +0.52% to 1465.9200

    • A$-$: (0.01) or (0.89%) to 0.6301

    • $-INR: +0.03 or +0.04% to 86.3301

    • $-CNY: +0.02 or +0.23% to 7.2472

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