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StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.30%), Hang Seng Futures +1.34%, ASX SPI 200 (0.38%), S&P Futures +0.73%

May 06 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Wednesday trade following confirmation of looming US-China trade talks. Futures signaling mild opening decline in Japan and Australia, and early gains in Hong Kong. US contracts firming afterhours. Australian bonds rebounding following Treasury curve bull steepening. Dollar strengthening against other currencies. Crude adding to overnight gains while gold pulling back from earlier highs. Bitcoin recouping prior session losses.

    • Treasury Secretary Bessent and USTR Greer to meet Chinese officials including Vice Premier He Lifeng thisweek in Switzerland. Marks first confirmation of high-level talks following de-escalation signals over past week. Earlier, Bessent echoed Trump in flagging trade deal announcements as soon as this week while Trump was positive on India tariff negotiations. At same time, Trump said he would decide terms of trade and tariffs in talks with countries and he rehashed warning of near-term announcement on pharma tariffs.

    • Fed expected to leave policy unchanged Wednesday though lot of attention will be on stagflation signaling in statement and from Chair Powell. Powell expected to continue to highlight risks Trump tariffs pose to both aspects of the Fed's dual mandate, setting high bar to cuts and stressing commitment to patience. Powell not expected to rule out June cut though likely to repeat Fed needs to wait to ensure tariff-driven inflation not persistent. Easing expectations have receded lately with market no longer fully pricing in rate cut by July.

    • In other developments, China policymakers to brief market on latest stabilization measures in Wednesday press conference. Stimulus expectations persist as trade war heaps on pressure China's economy, prompting Politburo pledge in April to set up new tools to boost consumption. Meanwhile, geopolitical tensions have ratcheted higher after Indian military struck targets inside Pakistan following recent Kashmir terror attack. Pakistan vowed to retaliate.

  • Pre-open Company News:

    • 500820.IN -- StreetAccount Consensus Metrics Preview - Asian Paints Q4 Earnings

    • 9432.JP -- StreetAccount Consensus Metrics Preview - Nippon Telegraph & Telephone Q4 Earnings

    • 688281.CH -- Shaanxi Huaqin Technology Industry completes acquisition of 47.6% stake in Anhui Hanzheng Bearing Technology for CNY245.0M

    • VCS.VN -- Vicostone reports Q1 net income attributable VND164.58B, (20%) vs year-ago VND204.75B

    • 6098.JP -- StreetAccount Consensus Metrics Preview - Recruit Q4 Earnings

    • 2347.TT -- Synnex Technology International reports Q1 EPS NT$1.10 vs FactSet NT$1.37 [2 est, NT$1.33-1.40]

    • 600958.CH -- Orient Securities launches CNY250-500M on-market buyback, to run for three months

    • 543463.IN -- Vedant Fashions reports Q4 EPS INR4.16 vs FactSet INR4.61 [4 est, INR4.50-4.70] (13:40 IT)

    • 505537.IN -- StreetAccount Consensus Metrics Preview - Zee Entertainment Enterprises Q4 Earnings

    • 6158.HK -- Zhenro Properties Group to resume trading on 7-May; controlling shareholder placed into liquidation

    • 161390.KS -- StreetAccount Consensus Metrics Preview - HANKOOK TIRE & TECHNOLOGY Co. Q1 Earnings

    • 533573.IN -- Alembic Pharmaceuticals reports Q4 consolidated net income attributable INR1.57B vs FactSet INR1.44B [9 est, INR953-1.81B] (13:53 IT)

    • 532605.IN -- JBM Auto reports Q4 consolidated EPS INR2.81 vs year-ago INR2.36

  • On Deck:

    • China:

      • Economic:

        • 16:00 CST: FX Reserves; consensus

    • Japan:

      • Earnings:

        • Japan Tobacco (2914.JP), Mercari (4385.JP), LY Corp. (4689.JP), Taiyo Yuden (6976.JP), Kawasaki Kisen Kaisha (9107.JP), Macnica Holdings (3132.JP), JMDC Inc (4483.JP), Kissei Pharmaceutical (4547.JP), DMG MORI (6141.JP), FUKUSHIMA GALILEI CO. (6420.JP), Yokogawa Electric (6841.JP), ShinMaywa Industries (7224.JP), Nojima (7419.JP)

    • South Korea:

      • Earnings:

        • PI Advanced Materials (178920.KS), KakaoBank (323410.KS), Hanwha (000880.KS), Lotte Chilsung Beverage (005300.KS), SK bioscience Co. (302440.KS), kakaopay (377300.KS), Mirae Asset Securities Co. (006800.KS), Kakao (035720.KS)

    • India:

      • Earnings:

        • MRF Ltd (500290.IN), Punjab National Bank (532461.IN), APL Apollo Tubes (533758.IN), Sapphire Foods India (543397.IN), Blue Star (500067.IN), Voltas (500575.IN), United Breweries (532478.IN), Housing & Urban Development (540530.IN), Route Mobile (543228.IN), Craftsman Automation (543276.IN)

    • Singapore:

      • Earnings:

        • Frasers Logistics & Commercial Trust (BUOU.SP), United Overseas Bank Ltd. (Singapore) (U11.SP), AIMS APAC REIT (O5RU.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: CPI NSA Y/Y; consensus +2.2%

      • Earnings:

        • Far EasTone Telecommunications (4904.TT)

    • Thailand:

      • Economic:

        • 07:00 SAST: CPI NSA Y/Y; consensus (0.2%)

    • Philippines:

      • Earnings:

        • SM Investments (SM.PM)

  • Market Data:

    • Gold (Jun 25): ($21.80) or (0.64%) to $3401.00

    • WTI Crude (Jun 25): +$0.44 or +0.74% to $59.53

    • $-¥: (0.62) or (0.43%) to 143.0770

    • $-KRW: (0.58) or (0.04%) to 1374.7800

    • A$-$: +0.00 or +0.56% to 0.6505

    • $-INR: +0.57 or +0.68% to 84.7933

    • $-CNY: (0.06) or (0.76%) to 7.2161

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