Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +10.12%, Hang Seng Futures +0.00%, ASX SPI 200 +6.62%, S&P Futures +0.45%

Apr 09 ,2025

  • Synopsis:

    • Asian markets set for big rebound on Thursday. Futures signaling 10% opening rally in Japan, and 7% initial gain in Australia. Hang Seng futures flat after Trump hiked China tariffs. S&P 500 futures gaining further after index logged best session since Oct-2008. Australian and New Zealand bonds reversing recent moves with yield curves flattening. Dollar steady following across-the-board strength. Crude, gold and copper adding to overnight gains. Bitcoin recovered week-to-date decline.

    • Markets in grip of tariff headline volatility following Wednesday's big risk-on move attributed to Trump's 90-day reciprocal tariff pause. While the pause lifted sentiment in an oversold market, there is still a lot of uncertainty with Trump keeping in place 10% baseline tariff, while ramping up China tariff rate to 125%. Also unclear the extent to which reprieve will produce deals that keep tariffs off. Economists have warned trade policy uncertainty alone likely to weigh on corporate and consumer sentiment, and slow down economic growth.

    • Trump's latest China tariff hike came after China raised its tariffs on US imports from 34% to 84%, effective Thursday. In addition, several US firms placed on 'unreliable entities' list while Beijing launched WTO action against US. At same time, China said it remains open to dialogue and Trump continues to insist Beijing is interested in reaching a deal. However,concerns remain two sides locked in standoff with state-run media this week telegraphing messages of defiance.

    • Nasdaq Golden Dragon index rallied 4.5%, lagging other markets after Trump hiked tariffs on China. Nothing new on China stimulus after Reuters sources noted China's top leaders were set to convene Wednesday. Authorities reportedly discussing measures to boost consumption and support exporters while state-run media also talked up potential RRR/interest rate cuts. Escalating US-China trade war reinforcing fiscal and monetary stimulus expectations while authorities have also taken steps this week to stabilize markets.

    • Bond yield backup the other big talking point with Treasuries remaining under pressure through Wednesday's stockmarket rally. Selling concentrated at long-end of the curve with supply (weak auctions), liquidity concerns, unwinding of crowded trades, foreign selling and deficit concerns all getting a mention. Front-end seeing two-way volatility with rates surging as markets dialed back rate cut expectations following Trump's reprieve (2Y yield logged biggest intraday bounce since 2009).

  • Pre-open Company News:

    • 601688.CH -- Huatai Securities guides Q1 net income attributable CNY3.44-3.67B vs FactSet CNY4.49B [1 est]

    • 601881.CH -- China Galaxy Securities guides Q1 net income attributable CNY2.77-3.10B vs year-ago CNY1.63B

    • 603392.CH -- Beijing Wantai Biological's TB-IGRA Detection Kit added to procurement list of UNOPS

    • 2324.TT -- Compal Electronics reports March revenue NT$76.23B, (2.3%) y/y

    • 1610.HK -- COFCO Joycome Foods reports March hog production 480K heads; fresh pork sales 28.2Kt

    • 2474.TT -- Catcher Technology reports March revenue NT$1.60B, +17.7% y/y

    • 5880.TT -- Taiwan Cooperative Financial Holding reports March net income NT$1.89B; StreetAccount notes the year-ago figure was NT$1.81B

    • General Insurance Council reports provisional March non-life gross premium INR266.99B vs year-ago INR265.69B

    • 600350.CH -- Shandong Hi-speed proposes CNY200-300M on-market buyback, to run for 12 months

    • 2696.HK -- Shanghai Henlius Biotech doses first patient in China for phase 1b/2 trial of HLX43 and HANSIZHUANG combo in advanced solid tumours

    • 2338.HK -- Weichai Power chairman proposes CNY500M-1B A-share buyback to run for 12 months, subject to EGM approval

    • 2353.TT -- Acer Inc reports March revenue NT$29.28B, +6.5% y/y

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: M2 NSA Y/Y; consensus

        • 08:00 CST: Loan Growth Y/Y; consensus

        • 09:30 CST: PPI NSA Y/Y; consensus (2.3%)

        • 09:30 CST: CPI NSA Y/Y; consensus +0.1%

      • Earnings:

        • Bank of Ningbo (002142.CH), Shandong Sunpaper (002078.CH), Shandong Sunpaper (002078.CH)

    • Japan:

      • Economic:

        • 08:50 JST: Bank Loans NSA Y/Y; consensus

        • 08:50 JST: Domestic CGPI NSA Y/Y; consensus

      • Earnings:

        • FAST RETAILING (9983.JP), Tama Home (1419.JP), SHIFT Inc (3697.JP), Hisamitsu Pharmaceutical (4530.JP), OSG Corp (6136.JP), BayCurrent Inc (6532.JP), Sugi Holdings (7649.JP), Life Corp. (8194.JP), AEON Financial Service (8570.JP), U-NEXT HOLDINGS Co. (9418.JP), Nomura Co. (9716.JP), AEON DELIGHT (9787.JP), Yoshinoya Holdings (9861.JP), Belc Co. (9974.JP)

    • Australia:

      • Economic:

        • 11:00 AEST: Consumer Inflation Expectation; consensus

    • New Zealand:

      • Earnings:

        • Summerset Group Holdings (SUM.NZ)

    • India:

      • Earnings:

        • Anand Rathi Wealth (543415.IN)

    • Taiwan:

      • Economic:

        • 16:00 TST: Export NSA Y/Y; consensus +11.8%

      • Earnings:

        • Nanya Technology (2408.TT)

    • Philippines:

      • Earnings:

        • Puregold Price Club (PGOLD.PM)

  • Market Data:

    • Gold (Jun 25): +$19.90 or +0.65% to $3099.30

    • WTI Crude (May 25): +$0.75 or +1.20% to $63.10

    • $-¥: +1.32 or +0.90% to 147.6030

    • $-KRW: (38.60) or (2.60%) to 1447.3100

    • A$-$: +0.02 or +2.94% to 0.6132

    • $-INR: (0.23) or (0.27%) to 86.2091

    • $-CNY: +0.01 or +0.13% to 7.3491

  • 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:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE