May 14 ,2025
Synopsis:
Asian markets set for mixed start to Thursday trade. Futures pointing to initial declines in Japan and Australia, while Hong Kong tracking for muted open. S&P 500 futures weaker afterhours. Australian bonds under pressure with curve bear steepening after Treasury yields fell across the curve overnight. Dollar steady after lifting from earlier lows. Crude under pressure following latest Iran nuclear deal headlines. Gold flat after dropping to lowest in over a month. Bitcoin unchanged after easing from late January highs.
White House hinted another trade deal could be announced when Trump returns from his overseas trip, while media report said Japan, South Korea deals close. Bloomberg sources also noted US not seeking weaker dollar in trade deals. Meanwhile, China wound back non-tariff actions against US, including suspension of export curbs covering rare earths and other goods. China also paused actions against US companies placed on unreliable entities list. Other reports highlighted rebound in US-destined cargo bookings following tariff cuts.
In corporate developments, Tencent (700.HK) ADRs up 3.5% overnight after group revenue topped estimates. Growth driven by gaming and ad segments with management touting AI monetization traction. Also played down concerns about chip inventory shortfall due to US sanctions. Alibaba (9988.HK) earnings later on Thursday, with cloud revenue growth, AI capex outlook, impact of US chip export controls and commentary on China macro situation some of the focus areas.
Economic calendar relatively quiet. Australian April employment data forecast to show mild step down in headline jobs growth and unchanged unemployment rate, leaving May rate cut expectations intact. Late Wednesday China credit data showed larger-than-forecast drop in new loans and record low growth in outstanding loan growth. Follows separate April data showing China manufacturing swinging back to contraction and deflation pressures persisting following escalation of US-China trade war..
Pre-open Company News:
1833.JP -- Okumura targets FY27 revenue ¥330.0B
7476.JP -- AS ONE reports FY net income attributable ¥8.23B vs guidance ¥8.06B and FactSet ¥8.24B
7476.JP -- AS ONE reports April flash net sales ¥7.96B, +3.9% y/y
8316.JP -- Sumitomo Mitsui Financial reports FY net income attributable ¥1.178T vs guidance ¥1.160T and FactSet ¥1.247T [14 est, ¥1.167-1.375T]
064350.KS -- HYUNDAI ROTEM reports Q1 Operating profit KRW202.85B vs FactSet KRW195.17B [12 est, KRW103-262.88B]
8129.JP -- 3D Investment Partners issues open letter to Toho Holdings shareholders
8316.JP -- Sumitomo Mitsui Financial to conduct up-to-40.0M-share buyback for up-to-¥100.00B from 15-May to 31-Jul
6406.JP -- Fujitec reports FY net income attributable ¥14.51B vs guidance ¥14.20B and FactSet ¥14.50B [2 est, ¥14.10-14.90B]
9945.TT -- Ruentex Development reports Q1 EPS NT$1.24; StreetAccount notes the year-ago figure was NT$2.46
2146.JP -- UT Group reports FY net income attributable ¥8.97B vs FactSet ¥8.94B [3 est, ¥8.80-9.12B] and prior guidance ¥8.1B
051600.KS -- KEPCO Plant Service & Engineering reports Q1 Operating profit KRW7.80B vs year-ago KRW52.24B
515030.IN -- Asahi India Glass reports Q4 standalone EPS INR3.76 vs year-ago INR3.13
2146.JP -- UT Group to launch buyback of up to ¥1.97B; to run between 15-May and 8-Aug
000425.CH -- XCMG Construction Machinery releases 2024 ESG report
500040.IN -- Aditya Birla Real Estate reports Q4 consolidated EPS (cont.ops) (INR11.49) vs year-ago INR11.43
On Deck:
China:
Economic:
08:00 CST: Foreign Direct Investment Y/Y; consensus
Hong Kong:
Earnings:
Man Wah Holdings (1999.HK)
Japan:
Earnings:
Skylark Holdings (3197.JP), Resonac Holdings (4004.JP), Nissan Chemical (4021.JP), Dentsu Group (4324.JP), Eisai (4523.JP), Konica Minolta (4902.JP), Bridgestone (5108.JP), Toho Zinc (5707.JP), Japan Post Bank (7182.JP), Mitsubishi HC Capital (8593.JP), Kyoritsu Maintenance (9616.JP), Totetsu Kogyo Co. (1835.JP), Toda Corp. (1860.JP), Kumagai Gumi (1861.JP), Taikisha (1979.JP), Nisshin Seifun Group (2002.JP), Alfresa Holdings (2784.JP), Kioxia Holdings (285A.JP), Iida Group Holdings (3291.JP), TORIDOLL Holdings (3397.JP), KI-Star Real Estate (3465.JP), Seiren (3569.JP), Wacoal Holdings (3591.JP), Nippon Paper Industries (3863.JP), Hokuetsu (3865.JP), Daio Paper (3880.JP), CHANGE Holdings (3962.JP), Appier Group (4180.JP), H.U. Group Holdings (4544.JP), Towa Pharmaceutical (4553.JP), DIC (4631.JP), Duskin (4665.JP), Resorttrust (4681.JP), The Yokohama Rubber (5101.JP), Nippon Light Metal Holdings (5703.JP), OSAKA Titanium Technologies (5726.JP), Kyoto Financial Group (5844.JP), AMADA Co. (6113.JP), Japan Post Holdings (6178.JP), Nomura Micro Science (6254.JP), Ebara Corp (6361.JP), Sinko Industries (6458.JP), Nitto Kogyo (6651.JP), IDEC Corp (6652.JP), Elecom (6750.JP), Horiba (6856.JP), Ferrotec Holdings (6890.JP), JEOL Ltd (6951.JP), Amvis Holdings (7071.JP), JAPAN POST INSURANCE (7181.JP), Aichi Financial Group (7389.JP), VT Holdings (7593.JP), Asahi Intecc (7747.JP), ASICS Corp (7936.JP), MOS FOOD SERVICES (8153.JP), Credit Saison (8253.JP), Mitsubishi UFJ Financial (8306.JP), Mizuho Financial (8411.JP), Japan Securities Finance (8511.JP), JACCS Co. (8584.JP), Dai-ichi Life (8750.JP), T&D Holdings (8795.JP), Kintetsu Group Holdings (9041.JP), Inaba Denkisangyo (9934.JP), Ohsho Food Service (9936.JP), Sundrug (9989.JP)
South Korea:
Earnings:
Samsung Life Insurance Co. (032830.KS), FILA Holdings (081660.KS)
Australia:
Economic:
11:00 AEST: Consumer Inflation Expectation; consensus
11:30 AEST: Unemployment Rate; consensus 4.1%
11:30 AEST: Employment SA; consensus +17.5K
Earnings:
GrainCorp (GNC.AU)
New Zealand:
Earnings:
Manawa Energy (MNW.NZ)
India:
Earnings:
Caplin Point Laboratories (524742.IN), Page Industries (532827.IN), Cochin Shipyard (540678.IN), Balrampur Chini Mills (500038.IN), LIC Housing Finance (500253.IN), NCC Ltd (500294.IN), Patanjali Foods (500368.IN), SKF India (500472.IN), Saregama India (532163.IN), ZF Commercial Vehicle Control Systems India (533023.IN), BLS International Services (540073.IN), Endurance Technologies (540153.IN), Tube Investments of India (540762.IN), Alivus Life Sciences (543322.IN), PB Fintech (543390.IN), Global Health Ltd. (India) (543654.IN), Kaynes Technology India (543664.IN), SignatureGlobal (India) (543990.IN)
Singapore:
Earnings:
Golden Agri-Resources (E5H.SP), Singapore Post (S08.SP), First Resources (EB5.SP), Bumitama Agri (P8Z.SP), Singapore Airlines (C6L.SP), NetLink NBN Trust (CJLU.SP)
Taiwan:
Earnings:
Shin Kong Financial Holding (2888.TT)
Philippines:
Earnings:
Converge Information & Communications Tech Solutions (CNVRG.PM), San Miguel (SMC.PM), Citicore Renewable Energy (CREC.PM), PLDT Inc (TEL.PM)
Market Data:
Gold (Jun 25): ($1.70) or (0.05%) to $3186.60
WTI Crude (Jun 25): ($1.17) or (1.85%) to $61.98
$-¥: (1.00) or (0.68%) to 146.4780
$-KRW: (9.66) or (0.68%) to 1407.3300
A$-$: (0.00) or (0.70%) to 0.6426
$-INR: +0.22 or +0.25% to 85.4877
$-CNY: +0.00 or +0.02% to 7.2075
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