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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.77%, Hang Seng Futures +0.55%, ASX SPI 200 +0.82%, S&P Futures (0.15%)

Jun 02 ,2025

  • Synopsis:

    • Asian markets set for positive start to Tuesday trade. Futures signalling opening gains in Japan, Hong Kong and Australia. S&P 500 futures touch lower afterhours. Australian and New Zealand yield curves bear steepening after Treasuries weakened overnight. Dollar extending losses against yen, steady elsewhere after DXY neared late April lows. Crude extending gains amid OPEC+ output dynamics and geopolitical headlines. Gold also adding to earlier gains. Bitcoin continues to fluctuate.

    • South Korea presidential election today with polls showing opposition candidate Lee Jae-myung in the lead. Election comes amid pause in US-South Korea trade talks with. Prior low-level talks have involved tariff and non-tariff barriers and cooperation on economic security, and there was speculation two sides had discussed FX pledges in any agreement. Two sides had targeted agreement by 8-Jul but Lee has said there is no rush to enter into a deal. Lee has also advocated for an extra budget to strengthen economy and fight off recession.

    • Nothing particularly incremental on US-China trade front with White House saying Trump and Xi likely to speak later this week. However, still no confirmation from China. Tensions have risen over recent days with both sides accusing other of reneging on Geneva deal. Rare earths and US tech curbs reportedly the source of trade tensions. In other trade developments, Reuters sources noted Trump administration wants countries to provide best offer on negotiations by Wednesday.

    • Japan 10Y JGB auction a feature of today's economic calendar. Auctions have received outsized attention amid backup in superlong yields exacerbated by weak reception to 40Y and 20Y securities last week. BOJ Governor Ueda slated to speak in the afternoon. China May Caixin manufacturing PMI forecast to show steady growth after official gauge showed minor pickup in factory activity. May RBA minutes will be scrutinized for indications of central bank's policy bias Governor Bullock shifted her messaging to emphasize supporting growth.

  • Pre-open Company News:

    • 8628.JP -- Matsui Securities reports May revenue on commission ¥1.56B vs month-ago ¥1.53B

    • 533278.IN -- Coal India reports May provisional coal production 63.5Mt vs year-ago 64.4Mt

    • 2020.HK -- ANTA Sports Products completes acquisition of Jack Wolfskin from Topgolf as announced on 10-Apr

    • 7581.JP -- Saizeriya reports May existing store net sales +17.6% y/y

    • 513599.IN -- Hindustan Copper CFO Ghanshyam Sharma steps down due to superannuation, effective 31-May

    • 512070.IN -- UPL Ltd's Advanta Seeds acquires corn assets from K-Adriatica; terms undisclosed

    • 500008.IN -- Amara Raja Energy & Mobility downgraded to reduce from long at Equirus Securities

    • +CKGROUP -- C&K Group files for IPO of 1.5M shares expected to price in the range of $4.00-5.00/sh through Revere Securities - F-1

    • LUV -- Southwest Airlines and China Airlines Group in discussions to create an interline partnership in early 2026

    • Spain (ANFAC) May new passenger car registrations 112,820, +18.6% y/y

    • 1093.HK -- NMPA grants Breakthrough Therapy Designation for CSPC Pharmaceutical's JMT101 to be combined with irinotecan for colorectal cancer

    • 500209.IN -- Infosys releases business responsibility and sustainability report

    • H15.SP -- Hotel Properties expects completion of acquisition of entire strata area of Concorde Hotel & Shopping Mall on 11-Aug

  • On Deck:

    • Australia:

      • Economic:

        • 11:30 AEST: Current Account Balance SA; consensus

  • Market Data:

    • Gold (Aug 25): +$14.30 or +0.42% to $3411.50

    • WTI Crude (Jul 25): +$0.52 or +0.83% to $63.04

    • $-¥: (1.62) or (1.12%) to 142.4340

    • $-KRW: (7.00) or (0.51%) to 1375.9900

    • A$-$: +0.01 or +0.95% to 0.6493

    • $-INR: (0.22) or (0.25%) to 85.3639

    • $-CNY: (0.00) or (0.01%) to 7.1988

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