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StreetAccount Summary - Asian Market Preview: Nikkei Futures +2.60%, Hang Seng Futures +0.76%, ASX SPI 200 +1.22%, S&P Futures (0.43%)

May 20 ,2026

  • Synopsis:

    • Asia equities poised to open firmer Thursday. Futures in South Korea rallied, Japan also rebounded sharply, followed by moderate gains in Hong Kong and Australia. Japan ADRs all advanced, while Golden Dragon China index fell 0.44%. US futures fading after sharp gains in the cash session. Sectors mostly firmer led by consumer discretionary, info tech and materials. Tech performance broadly positive with SOX index up a sharply 4.49% and almost all US big tech higher. Nvidia (NVDA) trading softer after hours despite better-than-expected earnings, broadly upbeat commentary apart from Vera Rubin supply constraints. US Treasuries firmer across the curve; yields down 7-10 bp. Dollar index off 0.2%. Gold finished up 0.5%. Silver ended up 1.4%. Bitcoin futures up 1%. WTI crude was down 5.7% on chatter about potential US-Iran negotiations.

    • Considerable risks surrounding overnight market performance given headline fluidity. Middle East situation was taken as a positive after President Trump said US is in the final stages of talks with Tehran. Yet this was accompanied by more threats attacks would resume "very quickly" if Iran doesn't provide the "right answers" and indicated he might wait a few days. IRGC warned earlier of retaliation beyond Middle East if US or Israel resumed strikes. Ease in dollar and crude oil prices proving difficult to ignore. Sharp reversal in US yields alleviated concerns about valuations, conducive for the tech bounce. In the other key risk event, market still digesting Nvidia earnings with the conference call having concluded; no major takes so far.

    • Separate developments have taken the regional spotlight overnight. Samsung (005930.KS) labor union suspended a general strike after reaching a tentative wage agreement. Labor disputes have been cited as a key overhang lately. Bank Indonesia hiked by 50 bp vs expectations of 25 bp to support Rupiah against Middle East effects. Amid elevated Japan stimulus talk, Prime Minister Takaichi confirmed the government is considering an extra budget while pledging to restrain new debt issuance. BOJ bond market survey showed significant improvement in headline market function DI toward post-Covid highs. BOJ policy coming under increasing scrutiny ahead of the June meeting. Economist consensus polls now clearly aligning on a rate hike, OIS pricing still tracking in the 70% range while recent sharp upswing in bond yields prompting concerns ahead of the June interim review for the JGB purchase reduction plan.

    • Asia macro calendar fairly busy. South Korea PPI accelerating sharply in y/y terms to the highest since the back end of the post-Covid surge. Surging coal & petroleum products filtering into chemicals and metals with some signs of pickup in transportation as the primary conduit into the services sector. New Zealand trade surplus expanded on a strong pickup in exports and slower growth in imports. Japan also to see customs trade with exports seen maintaining growth. More attention on the May round of PMIs with Japan manufacturing index anticipated to maintain solid expansion, albeit last month's report indicated tailwinds from front-loaded activity induced by Middle East uncertainty. Portfolio flows continue to attract attention with MOF weekly portfolio flows data as foreign investors have remained consistent net buyers throughout the Golden Week holiday. Core machinery orders expected to fall back after a sharp growth in the prior month. Australia employment anticipated to continue strong growth and unemployment rate steady.

  • Pre-open Company News:

    • 505537.IN -- Zee Entertainment Enterprises downgraded to sell from buy at Elara Capital

    • 001570.KS -- KRX decides to delist KUM YANG's shares after deliberating on auditor's disclaimers of opinion in FY24, FY25 audit reports

    • 532947.IN -- IRB Infrastructure Developers reports Q4 consolidated net profit INR2.96B vs FactSet INR2.57B [3 est, INR2.40-2.74B]

    • Hong Kong stock connect daily turnover

    • 544225.IN -- Ola Electric Mobility reports Q4 consolidated net profit attributable (INR5B) vs StreetAccount (INR4.35B)

    • 524715.IN -- StreetAccount Consensus Metrics Preview - Sun Pharmaceutical Industries Q4 Earnings

    • 631.HK -- Sany Heavy Equipment International Holdings reports Q1 net income attributable CNY509.4M, (20%) vs year-ago CNY635.2M

    • 540691.IN -- Aditya Birla Capital approves up to INR40.00B fund raise via preferential private placement

    • China Jan-Apr securities transaction stamp duty CNY93.5B. +74.8% y/y

    • 539658.IN -- TeamLease Services reports Q4 consolidated EPS INR26.18 vs year-ago INR20.85

    • 532830.IN -- Astral guides 10-15% volume growth; targets 15-20% revenue growth in FY27

    • SUPA.IJ -- Singtel Alpha Investments to transfer its stake in Super Bank Indonesia to GXS Bank; terms undisclosed

    • Futurum Equities initiates 000660.KS, 005930.KS, 2330.TT, others

    • 500238.IN -- Whirlpool of India reports Q4 consolidated EPS INR6.32 vs year-ago INR9.40

    • 688617.CH -- APT Medical completes up to CNY100M share buyback announced on 12-May

  • On Deck:

    • China:

      • Economic:

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

    • Hong Kong:

      • Earnings:

        • VTech Holdings (303.HK), Lenovo Group (992.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Core Machinery Orders ex-Electric Power Companies & Ships SA M/M; consensus (18.9%)

        • 09:30 JST: Export NSA Y/Y (Preliminary); consensus +10.3%

        • 09:30 JST: Import NSA Y/Y (Preliminary); consensus +10%

        • 09:30 JST: Trade Balance NSA (Preliminary); consensus ¥0T

    • Australia:

      • Economic:

        • 11:00 AEST: Consumer Inflation Expectation; consensus

        • 11:30 AEST: Unemployment Rate; consensus

        • 11:30 AEST: Employment SA; consensus

      • Earnings:

        • Bendigo & Adelaide Bank (BEN.AU)

    • New Zealand:

      • Economic:

        • 10:45 NZST: Trade Balance Goods; consensus

      • Earnings:

        • Oceania Healthcare (OCA.NZ)

    • India:

      • Earnings:

        • ITC Ltd (500875.IN), Rashtriya Chemicals & Fertilizers (524230.IN), Emami Ltd (531162.IN), Sun TV Network (532733.IN), Aurobindo Pharma (524804.IN), Welspun (532144.IN), GAIL (India) (532155.IN), Vaibhav Global (532156.IN), Engineers India (532178.IN), Prestige Estates Projects (533274.IN), Max Healthcare Institute (543220.IN), Laxmi Organic Industries (543277.IN), Bikaji Foods International (543653.IN), Happy Forgings (544057.IN), LG Electronics India (544576.IN)

    • Malaysia:

      • Earnings:

        • Telekom Malaysia (4863.MK)

    • Singapore:

      • Earnings:

        • Singtel (Z74.SP)

    • Philippines:

      • Earnings:

        • Alliance Global Group (AGI.PM)

  • Market Data:

    • Gold (Jun 26): +$4.30 or +0.09% to $4539.60

    • WTI Crude (Jul 26): +$0.91 or +0.93% to $99.17

    • $-¥: (0.18) or (0.11%) to 158.9110

    • $-KRW: (11.34) or (0.75%) to 1496.6300

    • A$-$: +0.00 or +0.60% to 0.7150

    • $-INR: (0.15) or (0.16%) to 96.5283

    • $-CNY: (0.01) or (0.20%) to 6.8003

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.
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