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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (3.54%), Hang Seng Futures (0.10%), ASX SPI 200 (1.29%), S&P Futures (0.14%)

Apr 03 ,2025

  • Synopsis:

    • Asian markets set for a negative start to Friday trade. Several markets including Greater China and Taiwan, offline for public holiday. Nikkei futures down more than 3% while Australia opens down to Aug-2024 low. S&P 500 futures extending losses after US indexes logged worst session since 2020. Australian and New Zealand curves bull steepening following overnight Treasury rally. FX markets quiet following broad dollar selloff (DXY lowest since Oct-2024). Crude extending losses after hitting wo-week low. Gold steady after pulling back from record high. Bitcoin unchanged following 6% drop.

    • Asian equities staring at another risk-off session. Trump's harsher-than-expected tariffs accelerated selling of risk assets with sell-side firms warning of significant downside impacts on earnings and economic growth, and upside risks to US inflation. Concerns amplified by talk of retaliation with Canada imposing tariffs on US autos, while EU and China also warned of a response. Some hope remains for a tamping down of tensions after Trump said he is open to talks if he receives "phenomenal" offers.

    • Trump's tariffs fueling stagflation debate with some economists dialing back Fed rate cut expectations given upside inflation risks while others (Goldman Sachs) recently raised their rate cut expectations amid the predicted drag on growth. Futures also now pricing in 3-4 Fed rate cuts in 2025 amid pickup in recession concerns. Markets awaiting more clarity from Fed officials, who continue to push patience amid the uncertainty. Attention now on Fed Chair Powell's remarks later Friday.

    • US nonfarm payrolls take on added importance amid heightened attention on the growth outlook. Data forecast to show modest step down in March headline employment, and unchanged unemployment rate and average hourly earnings growth. Some economist previews flagged upside risk as labor market continues to recoup weather and strike-driven January weakness. However, some see unemployment rate rising in coming months as labor market reacts to slower growth and recession concerns.

  • Pre-open Company News:

    • 6135.JP -- Makino Milling Machine to consider holding meetings with Nidec in relation to tender offer

    • 532134.IN -- Bank of Baroda reports provisional global advances as at 31-Mar INR12.310T vs quarter-ago INR11.730T

    • 2695.JP -- Kura Sushi reports March same-store sales (11.0%) y/y

    • China March stock market trading turnover CNY31.326T vs month-ago CNY32.584T

    • 502355.IN -- Balkrishna Industries assigned hold at Geojit Financial

    • 532149.IN -- Bank of India reports provisional global gross advances as at 31-Mar INR6.652T vs quarter-ago INR6.515T

    • 601985.CH -- China National Nuclear Power reports Q1 cumulative power generation 59.74B kWh, +16.9% y/y

    • 603259.CH -- WuXi AppTec releases ESG report 2024

    • 1996.HK -- Redsun Properties Group further extends RSA deadline to 18-Apr for early fee and 2-May for base fee

    • 697.HK -- Shoucheng Holdings releases 2024 ESG report

    • 732.HK -- Truly International Holdings reports March revenue HK$1.46B, (3.2%) y/y

    • 601198.CH -- Dongxing Securities reports FY net income attributable CNY1.54B vs guidance CNY1.45-1.70B and year-ago CNY819.7M

    • 435.HK -- Sunlight Real Estate Investment Trust releases 2023-24 Sustainability Report

  • On Deck:

    • China:

      • Earnings:

        • Shandong Hi-speed (600350.CH), Shandong Hi-speed (600350.CH), Beijing Roborock Technology (688169.CH)

    • Japan:

      • Economic:

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

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

      • Earnings:

        • DISCO Corp. (6146.JP), Adastria (2685.JP), YASKAWA Electric (6506.JP), Ichibanya (7630.JP)

    • Thailand:

      • Economic:

        • 07:00 SAST: CPI NSA Y/Y; consensus +1.4%

    • Philippines:

      • Economic:

        • 09:00 SST: CPI Y/Y; consensus +2.3%

  • Market Data:

    • Gold (Jun 25): +$12.40 or +0.40% to $3134.10

    • WTI Crude (May 25): ($0.21) or (0.31%) to $66.74

    • $-¥: (3.19) or (2.14%) to 146.0920

    • $-KRW: (16.14) or (1.10%) to 1450.6800

    • A$-$: +0.00 or +0.30% to 0.6319

    • $-INR: (0.24) or (0.29%) to 85.2829

    • $-CNY: +0.01 or +0.17% to 7.2806

  • 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".

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