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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (2.93%), Hang Seng Futures (1.50%), ASX SPI 200 (1.56%), S&P Futures +0.04%

Nov 20 ,2025

  • Synopsis:

    • Asian markets set for negative start to Friday trade. Futures signaling steep opening losses in Japan and Hong Kong. ASX under pressure in initial trade. S&P 500 futures extending declines afterhours. Australian bonds strengthening with curve steepening. FX markets steady as dollar closes in on year-to-date high against yen. Crude retreating while gold hovering just above earlier lows. Bitcoin down to seven month low.

    • Turbulent offshore session with US benchmarks experiencing largest intraday swing since April tariff volatility. No single catalyst blamed for the selloff, which was led by tech stocks and signs of renewed momentum unwind. Early upside attributed to positive NVDA earnings takeaways before sudden reversal tabbed to concerns about stretched valuations, capex monetization uncertainty, and credit market risks. Asian semis to open on back of 5% drop in SOX index, coming after sector logged sizable gains Thursday on positive NVDA sentiment.

    • Other areas of focus included a stronger-than-expected increase in September nonfarm payrolls and uptick in unemployment rate that still left markets pricing in ~40% chance of December Fed rate cut. Latest Fedspeak again highlighted policymaker divide (labor market slowdown vs upside inflation risks). In trade developments, Trump signed executive order exempting certain Brazil agricultural products from 40% tariffs.

    • Japan PM Takaichi expected to unveil stimulus package that may top JPY20T ($135B). Expected to feature higher minimum income tax threshold, end to gasoline surcharge, welfare/cost of living relief, defense spending, payments to families with children, and extension of energy subsidies. Size of prospective stimulus and potential deficit implications has unnerved markets with JGB yields scaling multi-decade highs. Under pressure yen also inviting more intervention talk, as currency approaches 160-per dollar.

    • No signs of a thaw in China-Japan tensions after Beijing repeated demands for PM Takaichi to retract her Taiwan comments. Visit by senior Japan diplomat to Beijing this week did little to ease frictions while Takaichi showing no signs of backing down. China has said trade cooperation "severely damaged" and warned of further consequences if Japan doesn't change course. Reports this week noted China moving to suspend imports of Japan seafood, coming after it urged citizens to avoid travel and study in Japan.

  • Pre-open Company News:

    • 688126.CH -- National Silicon Industry Group completes acquisition of remaining stakes in three subsidiaries

    • 1530.HK -- 3SBio Inc proposes spin-off and separate listing of subsidiary Mandi on HKEX main board

    • 590.HK -- Luk Fook Holdings (International) guides H1 profit to increase 40-50% y/y

    • 1966.HK -- China SCE Group Holdings amends restructuring support agreement with ad hoc group

    • O5RU.SP -- AIMS APAC REIT completes acquisition of 2 Aljunied Avenue 1; deal announced on 29-Aug

    • 532872.IN -- Sun Pharma Advanced Research reports CRL resubmission to FDA by Ocuvex Therapeutics for PDP-716 NDA

    • 688072.CH -- Piotech holder China Integrated Circuit Industry Investment Fund to sell up to 8.4M shares via block trade in three months

    • 6638.HK -- OneConnect Financial Technology SEC filing: SCHEDULE 13D/A (Filed by Bo Yu Ltd)

    • UD1U.SP -- IREIT Global reports Q3 portfolio occupancy 89.0% vs quarter-ago 89.5%\

    • 600436.CH -- Zhangzhou Pientzehuang Pharmaceutical doses first patient in phase IIa clinical trial of PZH2108 tablets

    • 992.HK -- Lenovo Group downgraded to neutral from overweight at JPMorgan

    • C52.SP -- ComfortDelGro Corp. CFO Derek Koh to step down, effective 1-Jan, prior to retiring on 31-Mar

    • AWK.SP -- Fuxing China Group withdraws F-1 IPO filing registration with the SEC - RW

  • On Deck:

    • China:

      • Economic:

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

    • Hong Kong:

      • Earnings:

        • MINISO Group Holding (9896.HK), Mobvista (1860.HK), Productive Technologies Co. (650.HK)

    • Japan:

      • Economic:

        • 08:30 JST: CPI National Y/Y; consensus +3%

        • 08:30 JST: CPI Core National Y/Y; consensus

        • 08:30 JST: CPI ex-Fresh Food and Energy; consensus +3%

    • India:

      • Earnings:

        • Billionbrains Garage Ventures (GROWW.IN)

    • Malaysia:

      • Economic:

        • 23:00 EST: CPI NSA Y/Y; consensus +1.4%

      • Earnings:

        • Malayan Banking (1155.MK)

  • Market Data:

    • Gold (Dec 25): +$21.40 or +0.53% to $4081.40

    • WTI Crude (Dec 25): $0.00 or 0.00% to $59.14

    • $-¥: +0.21 or +0.13% to 157.3580

    • $-KRW: +6.34 or +0.43% to 1473.3500

    • A$-$: (0.00) or (0.31%) to 0.6445

    • $-INR: +0.20 or +0.23% to 88.6920

    • $-CNY: +0.00 or +0.05% to 7.1154

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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