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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.65%, Hang Seng Futures +0.57%, ASX SPI 200 +0.75%, S&P Futures +0.10%

Mar 25 ,2025

  • Synopsis:

    • Asia equities poised for a firmer open Wednesday. Futures in Japan, Hong Kong and Australia traded higher. Japan ADRs skewed to gains though Golden Dragon China index fell a sharp 1.22%. US contracts advanced further after moderate cash session gains in S&P 500 and Nasdaq. Tech leads mixed amid Nasdaq outperformance, broad gains in US big tech, though SOX index fell 0.70%. Nvidia (NVDA) the lone laggard among Mag 7. Treasuries firmer with some curve steepening; today's 2Y auction was well received. Dollar index down 0.1%. Gold finished up 0.3%. Bitcoin futures down 0.5%. WTI crude ended down 0.2%.

    • Tariff headlines continue to dominate the narrative head of the 2-Apr deadline. Latest press reports indicated White House considering a two-step process which did little to clarify policy direction. Asia markets saw some encouragement from earlier Trump indications that many countries may be granted relief from reciprocal tariffs. However, auto levies still imminent and the 'dirty 15' list of targeted countries with the largest trade surpluses with the US include major Asia economies such as China, Japan and India. Still, bearish skew in market sentiment appears to have eased to some extent, with equity strategists' short-term views more mixed and some talk in Japan that the worst may have passed. Prospects for elevated volatility in the near term remain unchanged, particularly heading into quarter-end rebalancing (Japan FY-end a typical big reset).

    • Overnight Asia news flow was light. China Development Conference remains in focus though there have been no major developments. Premier Li's keynote speech promoted commitment to opening up in a bid to stem depressed FDI. No policy action specifically on tariffs, though Li signed off on significant enhancement of China's anti-foreign sanctions law, enabling seizure/freezing of assets held by targeted entities. Australia Federal Budget unveiling showed a surprise income tax cut from a slight lift in the lowest tax bracket. Deficit of A$42.1B ($26.5B) was slightly higher than consensus A$40B. Quiet on the macro calendar with only Australia monthly CPI due today. Attention then turns to Friday's release of Tokyo CPI and BOJ Summary of Opinions for the latest meeting.

  • Pre-open Company News:

    • 7951.JP -- Yamaha to completes up-to-¥30.0B buyback

    • 8111.JP -- GOLDWIN guides FY net income attributable ¥24.00B vs prior guidance ¥21.00B and FactSet ¥22.03B [6 est, ¥20.50-23.59B]

    • 267260.KS -- HD Hyundai Electric appoints Young-Ki Kim as CEO, effective today

    • 8129.JP -- Toho Holdings holder 3D investment Partners publishes corporate value enhancement plan

    • 817.HK -- China Jinmao Holdings Group reports FY net income attributable CNY1.06B vs guidance CNY1B and FactSet CNY1.34B [4 est, CNY1.02-1.64B]

    • 1024.HK -- Kuaishou Technology reports Q4 adjusted net income CNY4.70B vs FactSet CNY4.62B

    • 8086.JP -- Nipro appoints Tsuyoshi Yamazaki as President and Yoshihiko Sano as Chairperson; tentative date of appointment 26-Jun

    • 2313.HK -- Shenzhou International Group Holdings reports FY net income attributable CNY6.24B vs FactSet CNY5.82B [16 est, CNY5.52-6.04B]

    • 1811.HK -- CGN New Energy Holdings reports FY net income attributable $248.0M vs FactSet $234M [1 est]

    • 2269.HK -- Wuxi Biologics (Cayman) reports FY adjusted net income attributable CNY4.78B vs StreetAccount CNY3.92B

    • 500228.IN -- JSW Steel unit PSL approves INR16.76B share buyback at INR75.30/share

    • 2883.HK -- China Oilfield Services reports FY net income attributable CNY3.14B vs StreetAccount CNY3.49B

    • 728.HK -- China Telecom reports FY net income attributable CNY33.01B vs StreetAccount CNY32.83B

    • 1112.HK -- Health & Happiness (H&H) International Holdings reports FY adjusted net income CNY541.2M vs implied guidance CNY467.0-544.8M and FactSet CNY564M

  • On Deck:

    • China:

      • Earnings:

        • Pharmaron Beijing (300759.CH), China Life Insurance (601628.CH), WUS Printed Circuit (Kunshan) (002463.CH), Zhongfu Shenying Carbon Fiber (688295.CH)

    • Hong Kong:

      • Earnings:

        • China Resources Land (1109.HK), Everest Medicines (1952.HK), Livzon Pharmaceutical Group (1513.HK), Innovent Biologics (1801.HK), CGN Power (1816.HK), C&D International Investment Group (1908.HK), SenseTime Group (20.HK), Jinchuan Group International Resources (2362.HK), BOC Hong Kong (Holdings) (2388.HK), Zhihu, Inc. (2390.HK), CITIC Securities (6030.HK), Shandong Weigao Group Medical Polymer (1066.HK), Shandong Hi-Speed New Energy Group (1250.HK), China Nonferrous Mining (1258.HK), China MeiDong Auto Holdings (1268.HK), iMotion Automotive Technology (1274.HK), Guolian Minsheng Securities (1456.HK), Nissin Foods (1475.HK), Shenzhen International Holdings (152.HK), Ascletis Pharma (1672.HK), Guotai Junan International Holdings (1788.HK), AK Medical Holdings (1789.HK), Fire Rock Holdings (1909.HK), Canggang Railway (2169.HK), MicroPort NeuroScientific (2172.HK), Chervon Holdings (2285.HK), Biocytogen Pharmaceuticals (2315.HK), China Mengniu Dairy (2319.HK), Giant Biogene Holding (2367.HK), Gaush Meditech (2407.HK), Xunfei Healthcare Technology (2506.HK), China Pacific Insurance (Group) (2601.HK), Genertec Universal Medical Group (2666.HK), ENN Energy Holdings (2688.HK), China Travel International Investment Hong Kong (308.HK), China Resources Pharmaceutical Group (3320.HK), Lonking Holdings (3339.HK), Sino-Ocean Group Holdings (3377.HK), Beijing Enterprises Water Group (371.HK), CSSC (Hong Kong) Shipping Co Ltd (Hong Kong) (3877.HK), CALB Group Co. (3931.HK), Dongfeng Motor Group (489.HK), China Conch Venture Holdings (586.HK), Bairong (6608.HK), Huaxin Cement (6655.HK), Sunshine Insurance Group (6963.HK), Shoucheng Holdings (697.HK), Excellence Commercial Property & Facilities Management Gp (6989.HK), BOE Varitronix (710.HK), Truly International Holdings (732.HK), NetDragon Websoft Holdings (777.HK), IGG Inc (799.HK), China Overseas Grand Oceans Group (81.HK), Jinke Smart Services Group (9666.HK), China Bohai Bank (9668.HK), Powerlong Commercial Management Holdings (9909.HK), Kintor Pharmaceutical (9939.HK), ClouDr (9955.HK), China CITIC Bank (998.HK), Central China New Life (9983.HK), Xiaocaiyuan International Holding (999.HK), Pop Mart International Group (9992.HK)

    • New Zealand:

      • Earnings:

        • New Zealand King Salmon Investments (NZK.NZ)

    • Philippines:

      • Earnings:

        • GT Capital Holdings (GTCAP.PM)

  • Market Data:

    • Gold (Apr 25): ($0.70) or (0.02%) to $3025.20

    • WTI Crude (May 25): +$0.30 or +0.43% to $69.30

    • $-¥: (0.71) or (0.47%) to 149.9850

    • $-KRW: (5.35) or (0.36%) to 1462.0900

    • A$-$: +0.00 or +0.27% to 0.6303

    • $-INR: +0.06 or +0.07% to 85.5931

    • $-CNY: +0.00 or +0.04% to 7.2564

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