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StreetAccount Summary - Asian Market Preview: Nikkei Futures (2.05%), Hang Seng Futures (0.92%), ASX SPI 200 (0.43%), S&P Futures (0.83%)

Aug 07 ,2024

  • Synopsis:

    • Asian markets set for negative start to Thursday trade. Futures pointing to large opening declines in Japan and milder losses in Hong Kong and Australia. US contracts extending weakness afterhours. Bonds mixed with Australian and New Zealand curves steepening. Yen resuming gains. Crude little changed after erasing weekly loss. Gold flat. Bitcoin steady following earlier pull back

    • Yen rebounding after sliding earlier following dovish remarks from BOJ Deputy Governor Uchida. Yen weakness has spurred debate whether carry unwind has run its course and reduced impetus for further appreciation. Odds of another BOJ rate hike by year-end down to 30% from 60%. However, some strategists anticipate further appreciation as pickup in Fed rate cut expectations leaves focus on narrowing US-Japan yield gap.

    • Japanese stocks have steadied following two-day rebound with Nikkei VIX down 36% from this week's peak. However, cash index remains ~10% below last week's highs and some strategists anticipate volatility will continue over coming weeks. Absence of stabilizing catalysts and heightened sensitivity to yen dynamics seen leaving stocks vulnerable to sharp swings in either direction.

  • Pre-open Company News:

    • 220.HK -- Uni-President China Holdings reports H1 net income attributable CNY965.7M vs StreetAccount CNY945.2M

    • 2633.TT -- Taiwan High Speed Rail reports H1 EPS NT$0.66; StreetAccount notes the year-ago figure was NT$0.67

    • 600298.CH -- Angel Yeast reports H1 net income attributable CNY691.1M, +3% vs year-ago CNY669.7M

    • F13.SP -- Fu Yu Corp. reports H1 net profit attributable SG$72K vs year-ago (SG$3.9M)

    • 506395.IN -- Coromandel International appoints Sankarasubramanian S. as CEO, effective today

    • 1888.HK -- Kingboard Laminates Holdings guides H1 net income not less than HK$700M, +65% y/y

    • BSE.IN -- BSE Ltd reports Q1 consolidated EPS after exceptional items INR19.30 vs year-ago INR32.21

    • 832.HK -- Central China Real Estate reports July contracted sales CNY620M, +54.3% y/y

    • 543526.IN -- Life Insurance Corporation of India says not aware of government's plan to sell its stake in company

    • 539437.IN -- IDFC First Bank publishes Business Responsibility and Sustainability Report for FY2023-24

    • 600000.CH -- Shanghai Pudong Development Bank reports preliminary H1 net income attributable CNY26.99B vs year-ago CNY23.14B

    • 2344.TT -- Winbond Electronics reports July revenue NT$7.08B, +12.2% y/y

    • 539524.IN -- Dr. Lal PathLabs reports Q1 consolidated EPS INR12.76 vs FactSet INR11.88 [9 est, INR11.10-14.31]

    • BSRC.TB -- Bangchak Sriracha PCL reports Q2 net income attributable THB222M vs year-ago restated(THB1.35B)

    • H78.SP -- Hongkong Land Holdings upgraded to outperform from neutral at CCB International

  • On Deck:

    • China:

      • Economic:

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

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: M2 NSA Y/Y; consensus +6%

        • 08:00 CST: Loan Growth Y/Y; consensus

    • Hong Kong:

      • Earnings:

        • Hua Hong Semiconductor (1347.HK), Swire Pacific (19.HK), Pacific Basin Shipping (2343.HK), SMIC (981.HK), Swire Properties (1972.HK), The Wharf (Holdings) (4.HK), United Energy Group (467.HK), China Mobile (941.HK), Horizon Construction Development (9930.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Bank Loans NSA Y/Y; consensus

      • Earnings:

        • OSAKA Titanium Technologies (5726.JP), Sumitomo Forestry Co. (1911.JP), PERSOL Holdings (2181.JP), DeNA Co. (2432.JP), Hakuhodo DY Holdings (2433.JP), NEXON Co. (3659.JP), GMO Payment Gateway (3769.JP), Resonac Holdings (4004.JP), Kao (4452.JP), Terumo (4543.JP), PeptiDream (4587.JP), Nippon Paint Holdings (4612.JP), Kansai Paint (4613.JP), Nippon Sheet Glass (5202.JP), Recruit (6098.JP), Towa Corp (6315.JP), Hamamatsu Photonics KK (6965.JP), Nikon Corp (7731.JP), BANDAI NAMCO Holdings (7832.JP), TBS Holdings (9401.JP), GMO Internet Group (9449.JP), INPEX Corp (1605.JP), Japan Petroleum Exploration (1662.JP), COMSYS Holdings (1721.JP), HASEKO (1808.JP), JGC Holdings (1963.JP), Morinaga & Co. (2201.JP), Morinaga Milk Industry (2264.JP), SBS Holdings (2384.JP), Takara Holdings (2531.JP), Suntory Beverage & Food (2587.JP), Toyobo (3101.JP), Seiren (3569.JP), Kureha (4023.JP), Central Glass (4044.JP), Air Water (4088.JP), Kaneka (4118.JP), H.U. Group Holdings (4544.JP), Towa Pharmaceutical (4553.JP), Trend Micro (4704.JP), Digital Garage (4819.JP), en Japan (4849.JP), Kobayashi Pharmaceutical (4967.JP), Mec Co. (4971.JP), Takara Bio (4974.JP), Mitsuboshi Belting (5192.JP), Taiheiyo Cement (5233.JP), Tokai Carbon (5301.JP), Pacific Metals (5541.JP), Mitsui Mining & Smelting (5706.JP), Fujikura (5803.JP), Miura Co. (6005.JP), TechnoPro Holdings (6028.JP), AMADA Co. (6113.JP), Kurita Water Industries (6370.JP), Daifuku (6383.JP), Heiwa Corp (6412.JP), FUKUSHIMA GALILEI CO. (6420.JP), Kokusai Electric (6525.JP), Japan Elevator Service Holdings (6544.JP), Toshiba Tec (6588.JP), Shibaura Mechatronics (6590.JP), Oki Electric Industry Co. (6703.JP), Sanken Electric (6707.JP), Elecom (6750.JP), Horiba (6856.JP), MITSUI E&S (7003.JP), Amvis Holdings (7071.JP), KYB Corp (7242.JP), Daiichikosho (7458.JP), Tamron (7740.JP), Fuji Seal International (7864.JP), Dai Nippon Printing (7912.JP), Pigeon (7956.JP), LINTEC (7966.JP), Tokyo Electron (8035.JP), Hanwa Co. (8078.JP), Nipro (8086.JP), Inabata & Co. (8098.JP), Kaga Electronics (8154.JP), Suruga Bank (8358.JP), Mitsubishi Estate (8802.JP), Tokyo Tatemono (8804.JP), Sumitomo Realty & Development (8830.JP), Relo Group (8876.JP), Tokyu Corp (9005.JP), Nishi-Nippon Railroad (9031.JP), Fukuyama Transporting (9075.JP), Seino Holdings (9076.JP), Chilled & Frozen Logistics Holdings (9099.JP), Daiei Kankyo (9336.JP), Renova (9519.JP), Fuji Soft (9749.JP), Funai Soken Holdings (9757.JP)

    • South Korea:

      • Earnings:

        • Kakao (035720.KS), KT&G Corp (033780.KS), NAVER (035420.KS)

    • Australia:

      • Earnings:

        • Transurban Group (TCL.AU), AMP (AMP.AU), Charter Hall Long WALE REIT (CLW.AU), Mirvac (MGR.AU), Life360 (360.AU), Nick Scali (NCK.AU), QBE Insurance Group (QBE.AU), REA Group (REA.AU)

    • New Zealand:

      • Economic:

        • 15:00 NZST: Inflation Expectations Y/Y; consensus

    • India:

      • Earnings:

        • Brookfield India Real Estate Trust (543261.IN), Steel Authority of India (500113.IN), MRF Ltd (500290.IN), Bharat Forge (500493.IN), Bayer CropScience (506285.IN), AstraZeneca Pharma India (506820.IN), Container Corp. of India (531344.IN), Gujarat State Petronet (532702.IN), Cochin Shipyard (540678.IN), Garden Reach Shipbuilders & Engineers (542011.IN), Rail Vikas Nigam (542649.IN), Eicher Motors (505200.IN), ABB India (500002.IN), JB Chemicals & Pharmaceuticals (506943.IN), Timken India (522113.IN), Biocon (532523.IN), Sobha Ltd (532784.IN), Astral (532830.IN), Oil India (533106.IN), The New India Assurance (540769.IN), IRCON International (541956.IN), Life Insurance Corp. of India (543526.IN), Global Health Ltd. (India) (543654.IN)

    • Singapore:

      • Earnings:

        • Sasseur REIT (CRPU.SP), SIIC Environment Holdings (BHK.SP), Hong Leong Finance (S41.SP), Singapore Land Group (U06.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: Export NSA Y/Y; consensus +7.2%

      • Earnings:

        • Eclat Textile Co. (1476.TT), Lotus Pharmaceutical (1795.TT), Acer Inc (2353.TT), E.SUN Financial Holding (2884.TT), Far EasTone Telecommunications (4904.TT)

    • Thailand:

      • Earnings:

        • Thai Oil Public (TOP.TB)

    • Philippines:

      • Economic:

        • 10:05 SST: GDP NSA Y/Y; consensus +6.2%

      • Earnings:

        • ACEN Corp. (ACEN.PM)

  • Market Data:

    • Gold (Dec 24): ($8.60) or (0.35%) to $2423.80

    • WTI Crude (Sep 24): +$0.17 or +0.23% to $75.40

    • $-¥: +1.42 or +0.98% to 145.7340

    • $-KRW: (2.13) or (0.15%) to 1372.9400

    • A$-$: (0.00) or (0.07%) to 0.6508

    • $-INR: (0.02) or (0.02%) to 83.9422

    • $-CNY: +0.03 or +0.46% to 7.1803

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