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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.61%, Hang Seng Futures (0.51%), ASX SPI 200 +0.15%, S&P Futures +1.46%

May 28 ,2025

  • Synopsis:

    • Asian markets set for mostly positive start to Thursday trade. Futures signaling opening gains in Japan and Australia. Hang Seng futures lower. US contracts strengthening afterhours following US court ruling against reciprocal tariffs. Australian bonds under pressure, tracking earlier Treasury curve bear steepening. Dollar strengthening against majors. Crude advancing alongside equity futures while gold extending losses. Bitcoin coming off earlier lows. Calendar headlined by BOK meeting and expected 25 bp rate cut.

    • In latest trade developments, US Court of International Trade issued a ruling Wednesday blocking President Trump's reciprocal tariffs from going into effect. Ruling argued Trump overreached in his reliance on International Emergency Economic Powers Act (IEEPA) to impose tariffs. Reciprocal tariffs were on pause until 9-Jul though White House had warned lately that tariffs could revert to higher levels on countries if there is insufficient progress on trade negotiations.

    • Nvidia (NVDA) +5% afterhours after revealing $4.5B write-down related to US export controls on H20s, lower than $5.5B flagged earlier. However, announced another $8B hit in current quarter, leaving revenue guidance just below consensus. Group also revealed it is under investigation in China over whether its compliance with export controls unfairly discriminates against Chinese customers. Still, company noted global demand remains very strong, touting recent Middle East deals.

    • Multiple press reports report Trump administration considering fresh export restrictions against China, covering jet engines, semiconductors and chemicals. Commerce Department issued directive restricting sales of products China state-owned aero manufacturer COMAC and told electronic design automation groups (EDAs) to stop supplying technology to China. Separately, Secretary of State Rubio said US will revoke China student visas. While US and China backed down on tariffs earlier this month, tensions have continued to simmer in trade and technology spheres..

  • Pre-open Company News:

    • 532482.IN -- Granules India reports Q4 consolidated profit after tax INR1.52B vs FactSet INR1.39B [3 est, INR1.24-1.62B]

    • CDP re-org, ESMA rating consultation, EBA climate risk dashboard among ESG products & ratings updates Apr-May

    • 3888.HK -- Kingsoft reports Q1 net income attributable CNY283.9M vs year-ago CNY284.6M

    • 2126.HK -- JW (Cayman) Therapeutics receives NMPA's approval for sBLA for Carteyva as second-line treatment in r/r LBCL

    • 523395.IN -- 3M India reports Q4 EPS INR63.35 vs year-ago INR153.44

    • 000960.CH -- Yunnan Tin GM Liu Lu Ke resigns due to work changes, effective immediately

    • 2727.HK -- Shanghai Electric Group to sell real estate assets for total consideration of CNY240.0M

    • 4065.MK -- PPB Group reports Q1 EPS 26.4 sen vs year-ago 23.7 sen

    • 601568.CH -- Shaanxi Beiyuan Chemical Industry Group CFO Guo Jian to step down due to work rearrangement, effective today

    • 500144.IN -- Finolex Cables reports Q4 standalone EPS INR9.93 vs year-ago INR9.56

    • 539448.IN -- InterGlobe Aviation appoints Vikram Mehta as chairman, effective immediately

    • 546.SP -- Medtecs International releases 2024 sustainability report

  • On Deck:

    • Japan:

      • Economic:

        • 09:30 JST: Import NSA Y/Y (Final); consensus

        • 09:30 JST: Export NSA Y/Y (Final); consensus

        • 09:30 JST: Trade Balance NSA (Final); consensus

    • South Korea:

      • Economic:

        • 11:10 KST: BoK Repo Rate; consensus +2.5%

    • Australia:

      • Economic:

        • 11:30 AEST: Capital Expenditure Q/Q; consensus

      • Earnings:

        • Aroa Biosurgery (ARX.AU), Select Harvests (SHV.AU)

    • New Zealand:

      • Earnings:

        • Pacific Edge (PEB.NZ)

    • India:

      • Earnings:

        • Bajaj Auto (532977.IN), Alkem Laboratories (539523.IN), Varroc Engineering (541578.IN), Ola Electric Mobility (544225.IN), Amara Raja Energy & Mobility (500008.IN), Ipca Laboratories (524494.IN), Engineers India (532178.IN), Century Plyboards (India) (532548.IN), SJVN Ltd (533206.IN), NBCC (India) (534309.IN), Lemon Tree Hotels (541233.IN), Mazagon Dock Shipbuilders (543237.IN), Concord Biotech (543960.IN)

    • Malaysia:

      • Earnings:

        • IHH Healthcare (5225.MK)

    • Singapore:

      • Earnings:

        • Seatrium (5E2.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: GDP NSA Y/Y (Final); consensus +5.4%

  • Market Data:

    • Gold (Jun 25): ($32.40) or (0.98%) to $3262.50

    • WTI Crude (Jul 25): +$0.52 or +0.84% to $62.36

    • $-¥: +1.47 or +1.02% to 145.8260

    • $-KRW: (2.19) or (0.16%) to 1373.6000

    • A$-$: (0.00) or (0.42%) to 0.6417

    • $-INR: +0.03 or +0.04% to 85.3896

    • $-CNY: (0.00) or (0.03%) to 7.1938

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