Apr 22 ,2025
Synopsis:
Asian market set for positive start to Wednesday trade following Trump's backdown on firing Powell. Futures signaling opening gains in Japan, Hong Kong and Australia. S&P 500 futures up 2% afterhours. Australian yield curve flattening, tracking earlier move in Treasuries. Dollar strengthening on major crosses, extending Tuesday's bounce. Crude rallying alongside equity futures while gold under pressure after hitting fresh record high. Bitcoin extending rally towards two-month high.
President Trump told reporters on Tuesday that he never intended to fire Fed Chair Powell. Trump reiterated his preference for lower interest rates, but that Powell's position would be safe even if they weren't reduced. Trump's comments appeared to sooth concerns about market volatility that would have ensued he had moved to fire Powell. NEC Director Hassett remarked on Friday that White House was studying possibility of removing Powell, but weekend press sources also noted Trump was aware of potential market damage from Powell being ousted.\
Somewhat positive trade developments with Politico sources noted White House close to signing general agreements with Japan and India. However, deals fall well short of actual trade agreements and more likely to end up as MoUs. More important from market perspective is whether it will be enough to stave off tariffs. Separately, Treasury Secretary Bessent quoted at JP Morgan-hosted meeting saying he expects situation with Beijing to de-escalate given current tariff standoff unsustainable (though his comments were played down).
Pre-open Company News:
6770.TT -- Powerchip Semiconductor Manufacturing reports Q1 EPS (NT$0.26) vs FactSet (NT$0.60) [5 est, (NT$0.86)-(0.29)]
5269.TT -- Asmedia Technology declares FY dividend NT$30.00/share; StreetAccount notes the year-ago figure was NT$20.00/share
600325.CH -- Zhuhai Huafa Properties CFO Luo Bin resigns, effective immediately
009830.KS -- StreetAccount Consensus Metrics Preview - HANWHA SOLUTIONS Q1 Earnings
600582.CH -- Tiandi Science & Technology Co. guides Q1 net income attributable CNY1.43-1.45B vs year-ago CNY692.2M
9409.JP -- TV Asahi Holdings sets 7.9M-share secondary offering price at ¥2,589/share
9409.JP -- TV Asahi Holdings' up-to-¥3.00B buyback program to run from 1-May to 31-Oct
105560.KS -- StreetAccount Consensus Metrics Preview - KB Financial Q1 Earnings
3037.TT -- Unimicron Technology reports Q1 EPS NT$0.60 vs FactSet NT$0.77 [17 est, NT$0.28-1.47]
9890.HK -- ZX, Inc. releases sustainability report
9997.HK -- Kangji Medical Holdings notes NMPA approved Weijing Medical's Four-Arm Surgical Robot
601229.CH -- Bank of Shanghai chairman Jin Yu resigns due to age, effective today
532955.IN -- Government appoints Jitendra Srivastava as chairman/MD of REC Ltd, effective immediately
775.HK -- CK Life Sciences International (Holdings) to present new data from preclinical studies of investigational cancer vaccines at 2025 AACR
On Deck:
China:
Earnings:
Asymchem Laboratories (Tianjin) (002821.CH), XCMG Construction Machinery (000425.CH), Xiamen International Trade Group (600755.CH), Xiamen International Trade Group (600755.CH)
Hong Kong:
Earnings:
MMG Ltd (1208.HK), Livzon Pharmaceutical Group (1513.HK), Ping An Healthcare & Technology (1833.HK), Sinopec Shanghai Petrochemical (338.HK), CGN Power (1816.HK), China Overseas Grand Oceans Group (81.HK)
Japan:
Earnings:
CyberAgent (4751.JP), FANUC Corp. (6954.JP), Japan Aviation Electronics Industry (6807.JP), Shimano (7309.JP), Canon Marketing Japan (8060.JP), JAFCO Group (8595.JP)
South Korea:
Earnings:
SK Hynix (000660.KS), KG DongbuSteel (016380.KS), HD Hyundai Infracore (042670.KS)
Australia:
Earnings:
Cettire (CTT.AU)
India:
Earnings:
Can Fin Homes (511196.IN), Bajaj Housing Finance (544252.IN), Persistent Systems (533179.IN), Tata Teleservices (Maharashtra) (532371.IN), Syngene International (539268.IN), Dalmia Bharat (542216.IN), Tamilnad Mercantile Bank (543596.IN)
Malaysia:
Economic:
00:00 EST: CPI NSA Y/Y; consensus +1.5%
Singapore:
Earnings:
Mapletree Logistics Trust (M44U.SP)
Taiwan:
Earnings:
United Microelectronics (2303.TT)
Market Data:
Gold (Jun 25): ($70.60) or (2.06%) to $3348.80
WTI Crude (May 25): $0.00 or 0.00% to $64.31
$-¥: +1.81 or +1.29% to 142.6770
$-KRW: +6.59 or +0.46% to 1429.2200
A$-$: (0.00) or (0.65%) to 0.6373
$-INR: +0.07 or +0.08% to 85.2321
$-CNY: +0.02 or +0.26% to 7.3113
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