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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.11%), Hang Seng Futures (0.61%), ASX SPI 200 (0.98%), S&P Futures (0.03%)

May 21 ,2025

  • Synopsis:

    • Asian markets set for negative start to Thursday trade. Futures signaling opening declines in Japan, Hong Kong and Australia. S&P 500 futures flat following Wednesday's risk-off session. Australian bonds under pressure, tracking earlier Treasury curve bear steepening that followed soft 20Y auction. FX markets steady following another down session for dollar (two-week low against yen). Crude extending losses while gold little changed near two-week high. Bitcoin at new record high, nearing $110K.

    • Bond yield back up getting more attention following weak Treasury 20Y auction that came on the heels of similarly underwhelming 20Y JGB auction on Tuesday. Soft auction demand reinforced mounting concerns about sovereign debt, contributing to upward pressure on long-term yields and posing more questions about investor appetite to continue financing deficits (particularly in US). Strategists have also sounded warnings about rising supply putting more pressure on dollar and equity valuations.

    • Dollar weakness the other big story as mounting deficit concerns dovetail with discussions about FX provisions in US-negotiated trade deals. Treasury Department statement noted Bessent and Japan Finance Minister Kato did not discuss FX during their meeting in Canada on Wednesday. However, South Korea's finance ministry revealed FX discussions with US are continuing following Korean media reports that US demanded Seoul insert won strengthening measures in any agreement.

    • In other developments, G7 finance ministers meeting continues with non-tariff issues mentioned as a communique sticking point. EU launched anti-dumping investigation into China tire imports. Trump administration said it will stick with China chip restrictions following objections from NVDA. Economic calendar headlined by global flash PMIs and New Zealand budget. Market also attentive to possible US House vote on reconciliation legislation.

  • Pre-open Company News:

    • 9626.HK -- Street Takeaways - Bilibili Q1 earnings

    • 2057.HK -- Street Takeaways - ZTO Q1 earnings

    • VPK.NA -- Royal Vopak notes AVTL files red herring prospectus

    • 4519.JP -- Chugai Pharmaceutical Phase III study of Tecentriq and Avastin for unresectable hepatocellular carcinoma meets primary endpoint

    • 9969.HK -- InnoCare Pharma obtains NMPA marketing approval for tafasitamab combined with lenalidomide for treatment of r/r DLBCL

    • 300122.CH -- Chongqing Zhifei Biological Products downgraded to sell from neutral at UBS

    • 9626.HK -- Bilibili proposes offering of $500M convertible bonds due 2030 with $75M greenshoe option; initial conversion price to be determined

    • 500049.IN -- Street Takeaways - Bharat Electronics Q4 Earnings

    • Macau visitor arrivals +18.9% y/y to 3.09M in April

    • 600392.CH -- Shenghe Resources Holding initiated recommend at Minsheng Securities (timing uncertain)

    • ^ASIAREADS -- StreetAccount Asia Reads

    • 9898.HK -- Weibo Corporation reports Q1 non-GAAP EPS $0.45 vs FactSet $0.38 [4 est, $0.33-0.44]

    • 600276.CH -- Hengrui Pharmaceuticals's 224.5M-share Hong Kong IPO priced at HK$44.05/share through Morgan Stanley, Citi, Huatai

    • 521064.IN -- Trident reports Q4 EPS INR0.25 vs year-ago INR0.11

    • 9868.HK -- XPeng, Inc. reports Q1 non-GAAP EPADS (CNY0.45) vs FactSet (CNY1.30)

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Foreign Direct Investment Y/Y; consensus

      • Earnings:

        • Intchains (ICG)

    • Hong Kong:

      • Earnings:

        • Lenovo Group (992.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Core Machinery Orders ex-Electric Power Companies & Ships SA M/M; consensus (2.2%)

    • India:

      • Earnings:

        • The Ramco Cements (500260.IN), ITC Ltd (500875.IN), Container Corp. of India (531344.IN), Gujarat State Petronet (532702.IN), Clean Science & Technology (543318.IN), HFCL Ltd (500183.IN), Grasim Industries (500300.IN), Deepak Fertilisers & Petrochemicals (500645.IN), GMR Airports (532754.IN), MTAR Technologies (543270.IN), Metro Brands (543426.IN)

    • Malaysia:

      • Economic:

        • 00:00 EST: CPI NSA Y/Y; consensus +1.4%

      • Earnings:

        • CelcomDigi (6947.MK)

    • Singapore:

      • Earnings:

        • Singtel (Z74.SP)

  • Market Data:

    • Gold (Jun 25): +$10.70 or +0.32% to $3324.20

    • WTI Crude (Jul 25): ($0.25) or (0.41%) to $61.32

    • $-¥: (0.74) or (0.51%) to 143.7670

    • $-KRW: (19.86) or (1.42%) to 1373.8600

    • A$-$: +0.00 or +0.10% to 0.6430

    • $-INR: +0.05 or +0.05% to 85.6003

    • $-CNY: (0.02) or (0.25%) to 7.2015

  • 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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