Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +6.29%, Hang Seng Futures +0.23%, ASX SPI 200 (0.36%), S&P Futures +0.95%

Aug 05 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Tuesday trade. Nikkei futures pointing to big rebound on open as S&P 500 and Nasdaq futures rise 1% afterhours. Hang Seng and ASX futures little changed. Australian bonds catching up to prior session's rally following Monday public holiday. New Zealand curve bear flattening. Yen swinging lower, dollar weaker on other crosses. Crude extending rebound from earlier lows. Gold flat. Bitcoin up ~10% from overnight lows.

    • On the macro front, RBA expected to leave cash rate unchanged at 4.35% today. However, central bank seen retaining hawkish-leaning bias amid sticky domestic inflation pressures. Japan real wages growth unexpectedly turned positive, likely reflecting impact of this year's shunto wage hikes. However, consumption remains weak with Japan household spending contracting by more than expected.

    • Risk-off extended into offshore session though accompanied by suggestions selloff overdone. Better-than-expected US ISM services appeared to ease hard landing concerns fueled by last weeks' soft ISM manufacturing and US payrolls data. US recession still seen as low probability by economists. Tech valuations have come off. Japan technicals signaling oversold conditions while higher interest rates seen as supportive for bank margins.

  • Pre-open Company News:

    • 600329.CH -- Tianjin Pharmaceutical Da Ren Tang Group completes purchase of 15% stake in Tianjin Pharmaceutical Group Finance

    • 6088.HK -- FIT Hon Teng buys 70% stake in China Cloud Electro Optics Technology for CNY220.7M cash

    • 300390.CH -- Canmax Technologies completes 11.8M-shares buyback totalling CNY250.0M; announced 10-Nov-23

    • MINT.TB -- Minor International Public Co. reports Q2 adjusted net income THB3.23B vs FactSet THB3.46B

    • 532454.IN -- Bharti Airtel reports Q1 consolidated net profit ex-items INR29.25B vs StreetAccount INR38.00

    • 500493.IN -- Bharat Forge board to consider on 8-Aug fundraising by issuing shares, other convertible securities

    • 601568.CH -- Shaanxi Beiyuan Chemical Industry Group GM Liu Yancai steps down due to work rearrangements, effective today

    • JYEU.SP -- Lendlease Global Commercial REIT reports FY distributable income to unitholders SG$91.4M vs year-ago SG$108.2M

    • 2007.HK -- Country Garden Holdings reports July contracted sales attributable CNY3.41B; StreetAccount notes year-ago figure was CNY12.07B

    • PVC.VN -- Petrovietnam Chemical & Services reports Q2 net income attributable VND1.54B vs year-ago VND27.1M

    • 2186.HK -- Luye Pharma Group receives FDA approval for ERZOFRI (paliperidone palmitate) extended-release injectable suspension

    • 601668.CH -- China State Construction Engineering Corp. initiated recommend at Minsheng Securities (timing uncertain)

    • 524804.IN -- Aurobindo Pharma publishes Annual Report for FY2023-24

    • China July stock market trading turnover CNY15.009T vs month-ago CNY13.699T

    • 1060.HK -- Alibaba Pictures Group initiated overweight at Everbright Securities (timing uncertain)

  • On Deck:

    • China:

      • Economic:

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

      • Earnings:

        • Fuyao Glass Industry Group (600660.CH), Shenzhen MTC (002429.CH)

    • Hong Kong:

      • Earnings:

        • Yuexiu Transport Infrastructure (1052.HK), Wharf Real Estate Investment (1997.HK), Techtronic Industries (669.HK), Fortune Real Estate Investment Trust (778.HK)

    • Japan:

      • Earnings:

        • Kajima (1812.JP), Nichirei (2871.JP), TOKYO OHKA KOGYO (4186.JP), Idemitsu Kosan (5019.JP), Brother Industries (6448.JP), Sysmex (6869.JP), IHI (7013.JP), Suzuki Motor (7269.JP), Yamaha Motor (7272.JP), Ricoh Co. (7752.JP), Kyushu Railway (9142.JP), SoftBank Corp (9434.JP), NTT DATA Group (9613.JP), Nissui (1332.JP), Obayashi (1802.JP), Nishimatsu Construction Co. (1820.JP), Penta-Ocean Construction (1893.JP), Takasago Thermal Engineering (1969.JP), DAI-DAN (1980.JP), NIPPN Corp. (2001.JP), SOHGO SECURITY SERVICES (2331.JP), Kakaku.com (2371.JP), Kirin (2503.JP), Nissin Foods Holdings (2897.JP), Unitika (3103.JP), Tokyu Fudosan (3289.JP), Teijin (3401.JP), Mitsui Chemicals (4183.JP), Santen Pharmaceutical (4536.JP), Duskin (4665.JP), USS Co. (4732.JP), Noevir Holdings (4928.JP), Sumitomo Osaka Cement (5232.JP), Noritake (5331.JP), UACJ Corp (5741.JP), Furukawa Electric (5801.JP), Bunka Shutter (5930.JP), TAKUMA (6013.JP), DAIKIN INDUSTRIES (6367.JP), Glory Ltd (6457.JP), Pillar (6490.JP), Sinfonia Technology (6507.JP), Meiko Electronics (6787.JP), Yokogawa Electric (6841.JP), Mitsubishi Heavy Industries (7011.JP), Kawasaki Heavy Industries (7012.JP), Zenkoku Hosho (7164.JP), Musashi Seimitsu Industry (7220.JP), Net One Systems (7518.JP), Tomy Co. (7867.JP), SAN-AI OBBLI (8097.JP), GOLDWIN (8111.JP), Unicharm (8113.JP), Toho Holdings (8129.JP), H2O Retailing (8242.JP), Marui Group (8252.JP), Mizuho Leasing (8425.JP), Tokio Marine Holdings (8766.JP), Keikyu (9006.JP), Keio Corp (9008.JP), Sumitomo Warehouse (9303.JP), Square Enix Holdings (9684.JP)

    • South Korea:

      • Earnings:

        • SK Telecom (017670.KS)

    • Australia:

      • Economic:

        • 14:30 AEST: RBA Official Cash Rate; consensus +4.4%

      • Earnings:

        • Anglogold Ashanti (AU), Arcadium Lithium (LTM.AU)

    • India:

      • Earnings:

        • Vedanta (500295.IN), Graphite India (509488.IN), 3M India (523395.IN), Power Finance (532810.IN), Linde India (523457.IN), Bata India (500043.IN), Blue Star (500067.IN), Chambal Fertilisers & Chemicals (500085.IN), Lupin Ltd (500257.IN), Raymond (500330.IN), Shree Cement (500387.IN), Cummins India (500480.IN), Bosch Ltd (500530.IN), EIH Ltd (500840.IN), PI Industries (523642.IN), Solar Industries India (532725.IN), Fortis Healthcare (532843.IN), Gujarat Gas (539336.IN), PB Fintech (543390.IN)

    • Singapore:

      • Earnings:

        • SembCorp Industries (U96.SP), Fraser & Neave (F99.SP), IREIT Global (UD1U.SP), Venture (V03.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: CPI NSA Y/Y; consensus +2.6%

      • Earnings:

        • Chunghwa Telecom (2412.TT), GlobalWafers (6488.TT), U-Ming Marine Transport (2606.TT)

    • Thailand:

      • Earnings:

        • Advanced Info Service Public (ADVANC.TB), i-Tail Corp. Public Co. (ITC.TB)

    • Philippines:

      • Economic:

        • 09:00 SST: CPI Y/Y; consensus +4.1%

      • Earnings:

        • Emperador (EMI.PM), Globe Telecom (GLO.PM)

  • Market Data:

    • Gold (Dec 24): +$5.50 or +0.23% to $2449.90

    • WTI Crude (Sep 24): +$1.28 or +1.75% to $74.22

    • $-¥: (1.27) or (0.87%) to 145.3140

    • $-KRW: +7.28 or +0.54% to 1365.4600

    • A$-$: +0.00 or +0.14% to 0.6520

    • $-INR: +0.21 or +0.25% to 83.9937

    • $-CNY: (0.04) or (0.55%) to 7.1200

  • 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".

DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE