Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.39%), Hang Seng Futures 0.00%, ASX SPI 200 0.00%, S&P Futures +0.05%

Apr 21 ,2025

  • Synopsis:

    • Asian markets set for negative start to Tuesday trade. Japan tracking for opening declines as Hong Kong, Australia and other markets resume trade following Easter Monday holiday. S&P 500 futures flat after ending sharply lower in thin Monday trade. Longer-dated Australia and New Zealand bonds under pressure, tracking earlier Treasury curve steepening. FX markets steady after dollar sustained more broad-based declines. Crude rebounding from lows while gold continuing to make record highs. Bitcoin unchanged near three-week high.

    • 'Sell America' trade in focus after Trump again demanded Chair Powell lower interest rates. Focus has increasingly turned to concerns about Fed's independence with Trump reportedly weighing moves to fire Powell. Fed credibility concerns adding to market angst over tariffs amid lack of tangible progress on trade deals and uncertainty around Trump's preference for tariffs as a negotiating tactic or something more permanent. All this is feeding into broader concerns about waning US exceptionalism with longer-term implications for dollar and Treasury haven status.

    • In other trade developments, US levied heavy new tariffs on solar imports from SE Asian countries including Vietnam and Thailand. India imposed temporary 12% tariff on some steel in bid to curb flood of cheap China imports. US continues trade talks with Asian countries this week though press highlighting non-tariff barriers and lack of clarity on US demands as complications in negotiations with Japan. South Korea also toning down expectations ahead of talks this week.

    • Press highlighting how 'sell America' trade working to benefit of Asian markets as investors reposition amid tariff fallout. Regional data showed Asian bond funds saw largest monthly inflow in seven months during March with South Korea and India among the biggest. Longer-dated JGBs also saw record foreign demand in March. MSCI Asia index remains positive over April against S&P 500's 8% drop while gauge of EM currencies has risen to highest level since Oct-2024.

  • Pre-open Company News:

    • 533179.IN -- StreetAccount Consensus Metrics Preview - Persistent Systems Q4 Earnings

    • 532155.IN -- Quick Take - GAIL (India) trades +4.6%; regulator's move aids sentiment

    • 500209.IN -- Street Takeaways - Infosys Q4 Earnings

    • 8572.JP -- ACOM Co. revises FY guidance; guides FY net income attributable ¥32.10B vs prior guidance ¥55.60B

    • 2696.HK -- Fosun Pharmaceutical-controlled unit to buy total of 21.0M Henlius Biotech shares at HK$24.60/share

    • 688188.CH -- Shanghai BOCHU Electronic Technology Corp. reports Q1 net income attributable CNY255.5M, +32% vs year-ago CNY193.6M

    • 603707.CH -- Nanjing King-friend Biochemical Pharmaceutical Co. chair proposes to launch CNY20-40M buyback, to run for 12 months

    • 601669.CH -- Power Construction Corporation of China reports Jan-Mar new contract value CNY299.32B, (9.6%) y/y

    • 600276.CH -- NMPA approves phase III trial of combining Hengrui Pharmaceuticals's SHR-8068 with adebrelimab and platinum-based chemotherapy for PD-L1-negative NSCLC

    • 300012.CH -- Centre Testing International completes up-to-CNY50.5M buyback

    • 688041.CH -- Hygon Information Technology reports Q1 net income attributable CNY505.9M, +75% vs year-ago CNY288.5M

    • 600498.CH -- Fiberhome Telecommunication Technologies downsizes proposed 116.5M share offering to 85.4M shares

    • Saudi Aramco, BYD to explore closer collaboration in new energy vehicle technologies (roughly 10:00 SAT/15:00 HKT)

    • 688063.CH -- Pylon Technologies reports Q1 net income attributable (CNY38.2M) vs year-ago CNY4.0M

  • On Deck:

    • China:

      • Earnings:

        • Anjoy Foods Group (603345.CH), Cathay Biotech (688065.CH), Beijing Yanjing Brewery (000729.CH), Beijing Yanjing Brewery (000729.CH)

    • Hong Kong:

      • Earnings:

        • ZTE (763.HK)

    • Japan:

      • Earnings:

        • OBIC Co. (4684.JP), OBIC Business Consultants (4733.JP), KOMERI CO. (8218.JP)

    • South Korea:

      • Earnings:

        • HD Hyundai Electric (267260.KS)

    • Australia:

      • Earnings:

        • Mayne Pharma Group (MYX.AU), Atlas Arteria (ALX.AU)

    • India:

      • Earnings:

        • Tata Communications (500483.IN), WAAREE Energies (544277.IN)

    • Singapore:

      • Earnings:

        • ESR-REIT (J91U.SP), Parkway Life REIT (C2PU.SP)

    • Taiwan:

      • Earnings:

        • Faraday Technology (3035.TT), Unimicron Technology (3037.TT)

    • Philippines:

      • Earnings:

        • Alliance Global Group (AGI.PM)

  • Market Data:

    • Gold (Jun 25): +$27.50 or +0.80% to $3452.80

    • WTI Crude (May 25): +$0.51 or +0.81% to $63.59

    • $-¥: (1.71) or (1.20%) to 140.7310

    • $-KRW: +3.24 or +0.23% to 1421.6400

    • A$-$: +0.00 or +0.38% to 0.6415

    • $-INR: (0.25) or (0.30%) to 85.1589

    • $-CNY: (0.01) or (0.12%) to 7.2914

  • 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