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StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.48%, Hang Seng Futures +1.15%, ASX SPI 200 +1.01%, S&P Futures +0.33%

Apr 24 ,2025

  • Synopsis:

    • Asian markets set for positive start to Friday trade. Futures signaling opening gains of at least 1% in Japan, Hong Kong and Australia. S&P 500 futures extending gains afterhours after GOOGL +5% beat revenue forecasts. Treasuries were firmer across the curve overnight. Dollar nudging higher against majors after backtracking on Thursday. Crude flat while gold continues to recoup some of Wednesday's decline. Bitcoin steady near two-month high.

    • US and China appear stuck in a stalemate after Beijing denied existence of negotiations and Trump insisted otherwise. Both have called on other to drop tariffs before talks, leaving them dug into their positions. Press have highlighted other obstacles including an impasse over fentanyl, likely China pushback against FX manipulation charge, Beijing's unwillingness to engage in leader-level talks, and Xi's preparedness to fight a trade war than risk being seen to have capitulated to Trump.

    • Latest US trade talks with other Asian officials yielded progress in some areas. Treasury Secretary Bessent hailed successful meeting with his South Korean counterpart, foreshadowing agreement of understanding next week. Comes after White House and India this week also finalized terms of reference for trade pact. Nothing substantive out of FX talks between Japan and US, with both agreeing only that FX moves be determined by market. Next round of trade talks resumes next week with Japan to again press case for tariff relief.

    • Speaking at G20 meeting in Washington on Thursday, BOJ Governor Ueda maintained rate hikes will continue if underlying inflation is tracking towards 2% target. Said he would consider discussions with his global counterparts in formulating BOJ's assessment at next week's meeting. While tariff developments prompted economists to dial back rate hike expectations, press sources say tariff risks not enough to have derailed baseline scenario. Domestic inflation also elevated after Tokyo core CPI inflation jumped above 3% in April.

  • Pre-open Company News:

    • 600129.CH -- Chongqing Taiji Industry (Group) reports Q1 net income attributable CNY74.5M vs year-ago CNY246.8M

    • 600129.CH -- Chongqing Taiji Industry (Group) reports Q1 operational data

    • 300454.CH -- Sangfor Technologies reports Q1 net income attributable (CNY249.6M) vs year-ago (CNY488.8M)

    • 6923.JP -- Stanley Electric reports FY net income attributable ¥32.06B vs guidance ¥31.1B and FactSet ¥29.94B [7 est, ¥24.50-34B]

    • 300454.CH -- Sangfor Technologies releases sustainability report

    • 509930.IN -- Supreme Industries reports FY consolidated EPS INR75.64 vs FactSet INR78.62 [21 est, INR63.70-86.10]

    • 4519.JP -- Chugai Pharmaceutical reports Q1 core net income attributable ¥99.20B, +31% vs year-ago ¥76B

    • 539448.IN -- InterGlobe Aviation chairman V. Sumantran to step down upon completion of tenure, effective 28-May

    • 2357.HK -- AviChina Industry & Technology releases sustainability report

    • 6923.JP -- Stanley Electric, Mitsubishi Electric Mobility sign integration agreement for lamp system JV

    • 8425.JP -- Mizuho Leasing to increase stake in Nippon Steel Kowa Real Estate to 30% from 15% for ¥50.1B

    • 509930.IN -- Supreme Industries guides plastic piping system business capacity to reach 1M MT by end of FY26 vs 870K MT as on 31-Mar-2025

    • 505700.IN -- Elecon Engineering reports Q4 consolidated EPS INR6.53 vs year-ago INR4.62

    • 6998.HK -- Genor Biopharma Holdings releases sustainability report

  • On Deck:

    • China:

      • Earnings:

        • Gotion High-tech (002074.CH), Rongsheng Petrochemical (002493.CH), Yunnan Botanee Bio-Technology Group (300957.CH), Zhejiang Shuanghuan Driveline (002472.CH), Bank of Shanghai (601229.CH), Bank of Shanghai (601229.CH), Shandong Linglong Tyre (601966.CH), Piotech (688072.CH), Piotech (688072.CH), Easyhome New Retail Group (000785.CH), Easyhome New Retail Group (000785.CH), Suzhou Dongshan Precision Manufacturing (002384.CH), Suzhou Dongshan Precision Manufacturing (002384.CH), BYD Co. (002594.CH), JL MAG Rare-Earth (300748.CH), Pharmaron Beijing (300759.CH), Shenzhen Gas (601139.CH), Shenzhen Gas (601139.CH)

    • Hong Kong:

      • Earnings:

        • Yankuang Energy Group (1171.HK), HKBN Ltd. (1310.HK), China Resources Building Materials Technology Holdings (1313.HK), Shanghai Junshi Biosciences (1877.HK), The Bank of Chongqing (1963.HK), Chongqing Rural Commercial Bank (3618.HK), China Overseas Land & Investment (688.HK), China Shenhua Energy (1088.HK), Sinopharm Group (1099.HK), China Coal Energy (1898.HK), Guangzhou Automobile Group (2238.HK), Ping An Insurance (Group) Co. of China (2318.HK), China Pacific Insurance (Group) (2601.HK), BYD Electronic (International) (285.HK), China State Construction International Holdings (3311.HK), China National Building Material (3323.HK), Wisdom Education International Holdings (6068.HK), China Everbright Bank (6818.HK), Asia Cement (China) Holdings (743.HK)

    • Japan:

      • Earnings:

        • Shin-Etsu Chemical (4063.JP), ZEON Corp (4205.JP), Astellas Pharma (4503.JP), Daiichi Sankyo (4568.JP), Fuji Electric Co. (6504.JP), Advantest (6857.JP), Nitto Denko (6988.JP), Nomura Holdings (8604.JP), Kinden (1944.JP), Yamazaki Baking Co. (2212.JP), Hulic Co. (3003.JP), Toyota Boshoku (3116.JP), Konishi (4956.JP), MARUWA (5344.JP), Tokyo Steel Manufacturing (5423.JP), ARE Holdings (5857.JP), Hitachi Construction Machinery (6305.JP), JTEKT Corp. (6473.JP), Anritsu (6754.JP), Fujitsu General (6755.JP), Maxell (6810.JP), KEYENCE (6861.JP), DENSO Corp. (6902.JP), Pacific Industrial (7250.JP), Aisin Corp. (7259.JP), Toyoda Gosei (7282.JP), Shoei Co Ltd (7839.JP), Sotetsu Holdings (9003.JP), SKY Perfect JSAT Holdings (9412.JP), MISUMI Group (9962.JP)

    • South Korea:

      • Earnings:

        • Kia Corp. (000270.KS), Samsung SDI (006400.KS), Shinhan Financial (055550.KS), Hana Financial (086790.KS), BNK Financial Group (138930.KS), HL Mando (204320.KS), Woori Financial Group (316140.KS)

    • India:

      • Earnings:

        • Atul Ltd (500027.IN), Chennai Petroleum (500110.IN), Hindustan Zinc (500188.IN), Maruti Suzuki India (532500.IN), Bank of Maharashtra (532525.IN), Mahindra Holidays & Resorts India (533088.IN), Dr. Lal PathLabs (539524.IN), RBL Bank (540065.IN), Cholamandalam Investment & Finance (511243.IN), Lloyds Metals & Energy (512455.IN), Mahindra Lifespace Developers (532313.IN), Motilal Oswal Financial Services (532892.IN), L&T Finance (533519.IN)

    • Singapore:

      • Earnings:

        • Mapletree Pan Asia Commercial Trust (N2IU.SP), CapitaLand Integrated Commercial Trust (C38U.SP)

  • Market Data:

    • Gold (Jun 25): +$17.90 or +0.53% to $3366.50

    • WTI Crude (Jun 25): +$0.04 or +0.06% to $62.83

    • $-¥: (0.63) or (0.44%) to 142.8110

    • $-KRW: +2.66 or +0.19% to 1430.0600

    • A$-$: +0.00 or +0.64% to 0.6401

    • $-INR: (0.24) or (0.28%) to 85.2573

    • $-CNY: +0.00 or +0.01% to 7.2874

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