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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.62%, Hang Seng Futures (0.66%), ASX SPI 200 (0.34%), S&P Futures +0.82%

Apr 30 ,2025

  • Synopsis:

    • Asia equities poised for a mostly softer start Thursday. Futures in Japan traded higher, though ADRs were mostly lower, while Hong Kong and Australia contracts declined. Golden Dragon China index logged sharp losses. US futures reopened firmer after mixed performance in the cash session that rallied into the close on some likely month-end support. S&P logged its seventh straight gain, extending its longest streak of the year. Tech leads were mixed -- Nasdaq closed lower, SOX index rose 0.79%, Mag 7 mostly fell, while broader big tech mostly higher. Microsoft (MSFT) and Meta Platforms (META) rallying after hours on the back of earnings, while Qualcomm (QCOM) selling off. Treasuries were mixed with the curve steepening. Dollar index was up 0.3%. Gold finished down 0.4%. Bitcoin futures were down 1.5%. WTI crude settled down 3.7%, moving back well below $60/barrel after Reuters report about Saudi willingness to live with lower prices.

    • Main macro catalyst was the soft Q1 US GDP report, weighed down by surging imports reflecting tariff front-running, leaving the underlying growth trajectory unclear. Pessimism eased on solid growth in separate personal consumption data. On net, concerns about a growth slowdown remained intact with market pricing in nearly ~100 bp of rate cuts through year-end though subject to debate given inflation remains elevated. Much of the pessimism characterized by outlook uncertainties due to tariff policies and economic fallout. Latest batch of corporate earnings largely disappointed. Latest rhetoric from USTR Greer dampened optimism for an imminent trade deal, clarifying talks with India are not close to the finish line while also reaffirming no official talks with China are under way.

    • US tariffs remain the main theme in Asia with the bulk of incoming economic data and corporate earnings capturing the period through March when corporate activities were preparing for tariff implementation with outlook uncertainty looming large. Regional export strength driven by tariff front loading skewed toward Southeast Asian economies facing the highest reciprocal tariff rates, prompting concerns about negative payback going forward. Latest auto tariff concessions drew subdued takeaways for Japan automakers given most companies import much of their supply for the US market. Regional corporate earnings parsed for US policy impacts. Samsung (005930.KS) noted headwinds from AI chip export controls. Strong Japan brokerage results were marred by prospects for depressed trading activity as investors take a wait-and-see stance on tariff developments.

    • BOJ decisions will be the key regional macro event. Latest Nikkei report reaffirmed board members planning to stay on hold as widely expected, while attributing a high probability of downgrades to FY25/26 GDP growth forecasts, which could see the trajectory fall below a 1% pace. Markets also focused on first publication of FY27 projections. Japan trading conviction across asset classes has been restrained partly to wait out the second round of US-Japan trade talks on Thursday afternoon in Washington and expected to flesh out more details of an agreement. South Korea exports also in focus for the first read on April activity with consensus looking for the first decline in three months.

  • Pre-open Company News:

    • 500825.IN -- StreetAccount Consensus Metrics Preview - Britannia Industries Q4 Earnings

    • 352820.KS -- Street Takeaways - HYBE Co. Q1 Earnings

    • 601628.CH -- Street Takeaways - China Life Insurance Q1 earnings

    • 042660.KS -- Korea Development Bank confirms sale of 13.0M Hanwha Ocean shares at KRW81,650/share via off-market trade

    • 2301.TT -- Lite-On Technology appoints deputy GM Situ Weizhong as COO, effective 30-Apr

    • 500092.IN -- CRISIL reports Q1 consolidated EPS INR21.86 vs year-ago INR18.83

    • 4676.JP -- Fuji Media Holdings guides FY net income (¥20.10B) vs prior guidance ¥9.80B

    • 4676.JP -- Fuji Media Holdings to record ¥18.3B extraordinary gain in Q1 from sale of investment securities

    • 542904.IN -- Follow-up: Ujjivan Small Finance Bank reports Q4 net profit INR833.9M vs FactSet INR820.7M [6 est, INR342-1.80B]

    • 500086.IN -- Exide Industries reports FY standalone EPS INR12.67 vs FactSet INR13.00 [11 est, INR12.50-13.53]

    • 1778.HK -- Colour Life Services Group releases 2024 ESG report

    • 1777.HK -- Fantasia Holdings Group releases sustainability report

    • Hong Kong March new residential mortgages HK$24.7B, (5.3%) m/m

    • 047810.KS -- KOREA AEROSPACE INDUSTRIES provides value-up plan; targets revenue CAGR of more than 20% until FY27

    • 9956.HK -- ANE (Cayman) releases sustainability report

  • On Deck:

    • Japan:

      • Economic:

        • 12:00 JST: Japan Policy Rate; consensus +0.5%

      • Earnings:

        • Mitsui & Co. (8031.JP), Coca-Cola Bottlers Japan Holdings (2579.JP), Sojitz (2768.JP), Kyowa Kirin (4151.JP), Seiko Epson (6724.JP), Yamato Holdings (9064.JP), dely, Inc. (299A.JP), MonotaRO (3064.JP), Aica Kogyo Co. (4206.JP), JVCKenwood (6632.JP), Tokyo Kiraboshi Financial Group (7173.JP), HOYA Corp (7741.JP), Sumitomo (8053.JP), Nippon Gas Co Ltd (8174.JP), DTS Corp (9682.JP)

    • South Korea:

      • Economic:

        • 11:00 KST: Trade Balance NSA; consensus +$4.2B

        • 11:00 KST: Import NSA Y/Y; consensus (8.2%)

        • 11:00 KST: Export NSA Y/Y; consensus (1.5%)

    • Australia:

      • Economic:

        • 11:30 AEST: Trade Balance on Goods; consensus

      • Earnings:

        • DUG Technology (DUG.AU), Woolworths Group (WOW.AU)

    • India:

      • Earnings:

        • Adani Enterprises (512599.IN), Adani Ports & Special Economic Zone (532921.IN), Home First Finance Company India (543259.IN), RailTel Corp. of India (543265.IN), Eternal (543320.IN), Nuvoco Vistas (543334.IN)

  • Market Data:

    • Gold (Jun 25): ($32.80) or (0.99%) to $3286.30

    • WTI Crude (Jun 25): +$0.18 or +0.31% to $58.39

    • $-¥: +0.63 or +0.44% to 142.9820

    • $-KRW: (8.39) or (0.59%) to 1423.7500

    • A$-$: +0.00 or +0.38% to 0.6408

    • $-INR: (0.66) or (0.77%) to 84.5610

    • $-CNY: +0.00 or +0.01% to 7.2704

  • 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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