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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.45%), Hang Seng Futures (0.59%), ASX SPI 200 +0.23%, S&P Futures (0.08%)

Aug 19 ,2025

  • Synopsis:

    • Asian markets set for mostly negative start to Wednesday trade. Futures signaling opening declines in Japan and Hong Kong, and mild early gains in Australia. S&P 500 futures steady afterhours. Australian bonds little changed following decline in Treasury yields overnight. New Zealand rates steady ahead of RBNZ meeting. FX markets quiet. Crude coming off earlier lows while gold flat. Bitcoin unchanged near early July lows.

    • Tech sell-off the big story overnight with Nasdaq logging biggest one-day drop in almost three weeks. SOX index dropped 2%. Nothing specific cited for tech selloff, which follows Nasdaq's record-breaking run on earnings momentum that reinforced AI secular growth theme. Some attention overnight to MIT report rehashing concerns about AI capex ROI. Rotation dynamics and stretched valuations were also highlighted in context of Mag 7 concentration.

    • RBNZ expected to cut official cash rate (OCR) by 25 bp to 3.00%. Dovish views informed largely by high frequency data pointing to renewed economic contraction and forecasts for inflation to resume declining trend. Focus will be on updated OCR forecasts, though previews not looking for material changes after RBNZ in May modelled trough of 2.85%. Some thought RBNZ will nudge down trough projection, though still only implying scope for one more rate cut after August.

    • China expected to keep 1Y and 5Y loan prime rates unchanged. July data indicative of broad economic weakness that reinforced expectations of slowing growth momentum over H2. Policymakers have so far resisted introducing fresh stimulus after this week's State Council meeting reaffirmed efforts to strengthen consumption and stabilize housing market. PBOC's latest policy report also conveyed little appetite for near-term easing. Economists anticipate only targeted support measures over H2 with authorities sticking to structural policies.

    • July FOMC minutes out later Wednesday after central bank left rates on hold last month. Meeting takeaways focused on Bowman and Waller's dissents and Chair Powell's press-conference that was perceived as somewhat hawkish. Bigger focus for markets remains Powell's Jackson Hole speech at the end of the week. September rate cut probability still at 83% and market fully pricing in two rate cuts by end-2025. Powell not expected to explicitly signal September move, and previews featured some debate about extent of a more dovish tilt..

  • Pre-open Company News:

    • 530965.IN -- Indian Oil Corp. downgraded to neutral from buy at Motilal Oswal Securities

    • ALI.PM -- Ayala Land appoints Jose Eduardo A. Quimpo as CFO

    • China Jan-Jul government land sale revenue CNY2.357T, (6.1%) y/y

    • China Jan-Jul securities transaction stamp duty CNY93.6B. +62.5% y/y

    • 603077.CH -- Sichuan Hebang Biotechnology reports H1 net income attributable CNY51.8M vs year-ago CNY192.3M

    • China July home appliances production update

    • 505200.IN -- Eicher Motors upgraded to buy from hold at Indsec Securities & Finance

    • 300765.CH -- NMPA approves trials for CSPC Innovation Pharmaceutical subsidiary's dupilumab injection for atopic dermatitis

    • China July air passenger traffic 71.8M, +3.9% y/y

    • China Jan-Jul shipping cargo volume 5.72B tons, +4.1% y/y

    • 603077.CH -- Sichuan Hebang Biotechnology provides H1 production and sales update

    • China July liquor (baijiu) production 236K kL, (8.9%) y/y

    • 532927.IN -- eClerx Services publishes FY25 Annual Report with Business Responsibility and Sustainability Report appearing from page 54

    • 506401.IN -- Deepak Nitrite downgraded to hold at Asian Markets Securities

  • On Deck:

    • China:

      • Economic:

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

        • 09:30 CST: 1 Year Loan Prime Rate; consensus

        • 09:30 CST: 5 Year Loan Prime Rate; consensus

      • Earnings:

        • Hongyuan Green Energy Co. (603185.CH)

    • Hong Kong:

      • Earnings:

        • Livzon Pharmaceutical Group (1513.HK), Hong Kong Exchanges & Clearing (388.HK), Kingsoft (3888.HK), ZhongAn Online P&C Insurance (6060.HK), Smoore International Holdings (6969.HK), Immunotech Biopharm (6978.HK), Wynn Macau (1128.HK), Henderson Land Development (12.HK), AIA Group (1299.HK), Scholar Education Group (1769.HK), Weimob (2013.HK), Lepu Biopharma (2157.HK), Crystal International Group (2232.HK), Xunfei Healthcare Technology (2506.HK), Saint Bella (2508.HK), China State Construction International Holdings (3311.HK), Dah Sing Financial Holdings (440.HK), Laopu Gold (6181.HK), CanSino Biologics (6185.HK), Baiwang (6657.HK), Kerry Properties (683.HK), Sun Hung Kai & Co. (86.HK), YSB, Inc. (9885.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Export NSA Y/Y (Preliminary); consensus (2.05%)

        • 08:50 JST: Trade Balance NSA (Preliminary); consensus +¥0.2T

        • 08:50 JST: Import NSA Y/Y (Preliminary); consensus (10%)

        • 08:50 JST: Core Machinery Orders ex-Electric Power Companies & Ships SA M/M; consensus +0.5%

    • Australia:

      • Earnings:

        • Lycopodium (LYL.AU), The Lottery Corp. (TLC.AU), COSOL (COS.AU), Energy One (EOL.AU), Magellan Financial Group (MFG.AU), Schaffer Corp. (SFC.AU), Stockland (SGP.AU), Superloop (SLC.AU), Service Stream (SSM.AU), Vicinity Centres (VCX.AU), Brambles (BXB.AU), Ridley Corp. (RIC.AU), Aspen Group (APZ.AU), Alliance Aviation Services (AQZ.AU), Autosports Group (ASG.AU), Bega Cheese (BGA.AU), Capral (CAA.AU), Codan (CDA.AU), Charter Hall Group (CHC.AU), Corporate Travel Management (CTD.AU), Downer EDI (DOW.AU), EQT Holdings (EQT.AU), Goodman Group (GMG.AU), Healius (HLS.AU), Insignia Financial (IFL.AU), IPH (IPH.AU), Lifestyle Communities (LIC.AU), MA Financial Group (MAF.AU), MAAS Group (MGH.AU), Megaport (MP1.AU), National Storage REIT (NSR.AU), Northern Star Resources (NST.AU), NRW Holdings (NWH.AU), Netwealth Group (NWL.AU), Objective Corp. (OCL.AU), Peet (PPC.AU), Peter Warren Automotive Holdings (PWR.AU), Qube Holdings (QUB.AU), Redox Ltd. (RDX.AU), Sonic Healthcare (SHL.AU), Super Retail Group (SUL.AU), Universal Store Holdings (UNI.AU), Veem Ltd (VEE.AU), Whitehaven Coal (WHC.AU)

    • New Zealand:

      • Earnings:

        • Auckland International Airport (AIA.NZ), Heartland Group Holdings (HGH.NZ)

    • Singapore:

      • Earnings:

        • SATS Ltd. (S58.SP)

  • Market Data:

    • Gold (Dec 25): ($0.60) or (0.02%) to $3358.10

    • WTI Crude (Sep 25): +$0.25 or +0.40% to $62.60

    • $-¥: (0.17) or (0.11%) to 147.7110

    • $-KRW: +2.44 or +0.18% to 1391.3400

    • A$-$: (0.00) or (0.60%) to 0.6453

    • $-INR: (0.24) or (0.27%) to 87.0728

    • $-CNY: (0.00) or (0.05%) to 7.1814

  • 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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