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StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.00%, Hang Seng Futures (0.26%), ASX SPI 200 +0.06%, S&P Futures +0.25%

Jun 29 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Monday trade. Futures signaling opening gains in Australia, mild decline in Hong Kong and flat start in Japan. S&P 500 futures advancing further after US indexes capped off strong weekly gain. Australia bonds weakening after Treasury curve bear steepened on Friday. FX markets steady after dollar neared lowest since Mar-2022. Crude under further pressure after logging largest weekly loss since Mar-2023. Gold also adding to last week's decline. Bitcoin back to two-week high.

    • Mixed developments on trade front after Trump appeared to contradict Treasury Secretary Bessent and argued he doesn't think he'll need to extend tariff 9-Jul deadline. Somewhat better news on US-China trade talks after both sides confirmed details on framework agreement where China relaxes rare earth exports and US removes countermeasures. Elsewhere, Trump teased "very big" trade deal with India with Delhi officials reportedly extending their stay in Washington. Lack of progress in seventh round of US-Japan talks last week while Taiwan touted 'constructive progress' following recent talks with US.

    • China official PMI forecast to show manufacturing contracted for third straight month in June with pace of decline little changed from May. Non-manufacturing PMI forecast to have maintained May's slow pace of growth. Data on Friday showed industrial profits unexpectedly fell sharply amid tepid domestic demand, tariff impacts and deflation pressures. PBOC quarterly report acknowledged external environment increasingly complex and challenging, vowing to increase intensity of monetary policy adjustments. However, economists remain skeptical about prospects for near-term stimulus.

  • Pre-open Company News:

    • 600588.CH -- Yonyou Network Technology files for Hong Kong IPO through CMBI and CITIC Securities

    • 533573.IN -- Alembic Pharmaceuticals receives final approval from FDA for its ANDA for doxorubicin hydrochloride liposome injection

    • 1341.HK -- Hao Tian International Construction Investment Group reports FY net income attributable (HK$190M) vs year-ago (HK$463M)

    • 2550.HK -- Easou Technology Holdings enters framework cooperation agreement to develop RWA products

    • 506943.IN -- Torrwnt Pharmaceuticals to buy 46% stake in JB Chemicals & Pharmaceuticals from KKR at equity valuation of INR256.89B ($3.01B), then buy remainder for shares

    • 500680.IN -- Pfizer Ltd. (India) publishes Business Responsibility & Sustainability Report for FY 2024-25

    • 524804.IN -- Lyfius re-starts production at penicillin-G manufacturing plant in Kakinada following receipt of CTO from APPCB

    • 532539.IN -- Uno Minda initiated outperform at CLSA

    • 7113.MK -- Top Glove Corp. downgraded to hold from outperform at CLSA

    • 6146.JP -- DISCO Corp. upgraded to buy from neutral at BofA

    • BofA downgrades Square Enix & Capcom to neutral from buy

    • 1405.HK -- DPC Dash initiated buy at UBS

    • 3443.TT -- Global Unichip upgraded to buy from neutral at Fubon Securities

    • SBI Securities Japan initiates 2146.JP, 2154.JP, 2181.JP, others

  • On Deck:

    • China:

      • Economic:

        • 09:30 CST: CFLP PMI Manufacturing; consensus 49.5

        • 09:30 CST: CFLP Non Manufacturing PMI; consensus 50.1

        • 09:30 CST: CFLP Services PMI; consensus

    • Hong Kong:

      • Earnings:

        • Huijing Holdings (9968.HK), Cathay Pacific Airways (293.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Industrial Production SA M/M (Preliminary); consensus +3%

        • 14:00 JST: Housing Starts NSA Y/Y; consensus (18.9%)

      • Earnings:

        • Takashimaya (8233.JP), Adastria (2685.JP), J. FRONT RETAILING (3086.JP), Zojirushi (7965.JP), SHIMAMURA (8227.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Private Sector Credit M/M; consensus

      • Earnings:

        • Woodside Energy Group (WDS.AU)

    • Singapore:

      • Earnings:

        • Vicom (WJP.SP)

  • Market Data:

    • Gold (Aug 25): ($8.40) or (0.26%) to $3279.20

    • WTI Crude (Aug 25): ($0.67) or (1.02%) to $64.85

    • $-¥: (0.17) or (0.12%) to 144.4840

    • $-KRW: (1.40) or (0.10%) to 1363.0400

    • A$-$: +0.00 or +0.02% to 0.6530

    • $-INR: +0.00 or +0.00% to 85.5080

    • $-CNY: (0.00) or (0.01%) to 7.1715

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