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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.68%, Hang Seng Futures +0.37%, ASX SPI 200 +0.48%, S&P Futures +0.02%

Aug 12 ,2024

  • Synopsis:

    • Asian markets set for positive start to Tuesday trade. Futures signaling opening gains in Japan, Hong Kong and Australia. S&P 500 futures flat following mixed Monday session. Australian yield curve bull flattening after Treasuries firmed overnight. FX markets steady with yen range bound. Gold back towards record high. Crude hovering near mid-July highs amid Middle East tensions. Bitcoin continues to fluctuate.

    • Markets weighing competitive narratives following recent volatility. Economists have flagged recession risk, but soft land/disinflation narratives remain largely intact with Fed on track to ease in September. At same time, there remain concerns about softening labor market, potential for renewed yen carry unwind, US consumer health, AI monetization/ROI uncertainty and negative seasonality.

    • Middle East tensions back in focus with Israel on high alert after US intelligence suggested Iranian attack could come before Thursday. Reports noting Iran weighing larger scale attack than April's missile barrage that was intercepted. US accelerating deployment of military assets to defend Israel in event of attack. Western nations also warning of serious consequences for regional security should Iran attack.

    • China bond yields reversing higher as authorities step up efforts to slow rally. Market digesting several moving developments with latest reports noting banks and brokers ordered to scrutinize their bond trading activities. Bloomberg noted banks in Jiangxi province ordered not to settle their bond purchases. Comes asPBOC signals readiness to intervene after quarterly report on Friday noted it will gradually increase bond trading.

  • Pre-open Company News:

    • 532321.IN -- Zydus Lifesciences downgraded to accumulate from buy at Elara Capital

    • 1877.HK -- NMPA accepts new indication marketing application of Shanghai Junshi's JS001 for first-line treatment of Melanoma

    • Hong Kong stock connect daily turnover

    • 86.HK -- Sun Hung Kai & Co. guides H1 net income attributable not more than HK$80M vs year-ago (HK$288M)

    • U96.SP -- SembCorp Industries upgraded to buy from accumulate at Phillip Capital

    • 3813.HK -- Pou Sheng International (Holdings) reports H1 net income attributable CNY335.7M, +10% vs year-ago CNY305.5M

    • 300012.CH -- Centre Testing International Group initiated overweight at Sealand Securities (timing uncertain)

    • 3933.HK -- Phase 1a study of United Laboratories International's UBT251 injection shows drug to be safe, well tolerated

    • LTG.PM -- LT Group reports Q2 net income PHP6.38B, (4%) vs year-ago PHP6.62B

    • 1477.HK -- Ocumension Therapeutics reports H1 adjusted net income (CNY100.8M) vs year-ago (CNY125.9M)

    • 533273.IN -- Oberoi Realty to acquire Nirmal Lifestyle Realty under corporate insolvency resolution process following court approval

    • India June Index of Industrial Production +4.2% y/y vs consensus +5.5% and prior revised +6.2%

    • 532439.IN -- Olectra Greentech reports Q1 consolidated EPS INR2.92 vs year-ago INR2.20

    • 513599.IN -- Hindustan Copper reports Q1 consolidated EPS INR1.17 vs year-ago INR0.49

    • 1109.HK -- China Resources Land reports July gross contracted sales CNY15.50B, (9.8%) y/y

  • On Deck:

    • China:

      • Economic:

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

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

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: M2 NSA Y/Y; consensus

      • Earnings:

        • Ningxia Baofeng Energy Group (600989.CH)

    • Hong Kong:

      • Earnings:

        • Huadian Power International (1071.HK), China Lilang (1234.HK), Sunlight Real Estate Investment Trust (435.HK), Sunlight Real Estate Investment Trust (435.HK), Sino Biopharmaceutical (1177.HK), MMG Ltd (1208.HK), HK Electric Investments & HK Electric Investments (2638.HK), WH Group (288.HK), CK Life Sciences International (Holdings) (775.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Domestic CGPI NSA Y/Y; consensus

      • Earnings:

        • Sapporo Holdings (2501.JP), Mercari (4385.JP), ULVAC, Inc. (6728.JP), Citizen Watch (7762.JP), MIXI, Inc. (2121.JP), MatsukiyoCocokara & Co. (3088.JP), Pressance (3254.JP), Open House Group (3288.JP), RAKUS Co. (3923.JP), JEOL Ltd (6951.JP), ASICS Corp (7936.JP), Seiko Group (8050.JP), Hikari Tsushin (9435.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: NAB Business Confidence; consensus

        • 11:30 AEST: Wage Price Index Y/Y; consensus +4%

      • Earnings:

        • Ansarada Group (AND.AU), Netwealth Group (NWL.AU), SEEK (SEK.AU), AGL Energy (AGL.AU), Amotiv (AOV.AU), Seven Group Holdings (SVW.AU), HomeCo Daily Needs REIT (HDN.AU), Bravura Solutions (BVS.AU), CBA (CBA.AU), Charter Hall Social Infrastructure REIT (CQE.AU), Dexus Industria REIT (DXI.AU), Evolution Mining (EVN.AU), Lifestyle Communities (LIC.AU), Pro Medicus (PME.AU), Seven West Media (SWM.AU), Viva Leisure (VVA.AU)

    • New Zealand:

      • Earnings:

        • Napier Port Holdings (NPH.NZ)

    • India:

      • Earnings:

        • Godrej Industries (500164.IN), HEG Ltd (509631.IN), Ratnamani Metals & Tubes (520111.IN), Muthoot Finance (533398.IN), NBCC (India) (534309.IN), FSN E-Commerce Ventures (543384.IN), Nmdc Steel (543768.IN), Hero MotoCorp (500182.IN), Max Financial Services (500271.IN), SKF India (500472.IN), Apollo Hospitals Enterprise (508869.IN), Ipca Laboratories (524494.IN), GMR Airports Infrastructure (532754.IN), eClerx Services (532927.IN), Endurance Technologies (540153.IN), Indian Railway Catering & Tourism (542830.IN), Rainbow Children's Medicare (543524.IN)

    • Singapore:

      • Earnings:

        • CapitaLand Integrated Commercial Trust (C38U.SP), Singapore Technologies Engineering (S63.SP), China Everbright Water (U9E.SP), Golden Agri-Resources (E5H.SP), Wilmar International (F34.SP), Hong Leong Asia (H22.SP), Nanofilm Technologies International (MZH.SP), Prime US REIT (OXMU.SP), Delfi (P34.SP), China Sunsine Chemical Holdings (QES.SP), UOL Group (U14.SP)

    • Taiwan:

      • Earnings:

        • TCC Group Holdings CO. (1101.TT), Compal Electronics (2324.TT), Inventec (2356.TT), Evergreen Marine (2603.TT), Pegatron (4938.TT), PharmaEssentia (6446.TT), ChipMOS Technologies (8150.TT)

    • Thailand:

      • Earnings:

        • AP (Thailand) Public (AP.TB), Electricity Generating Public (EGCO.TB), CP All Public (CPALL.TB), Land & Houses Public Co. (LH.TB), Mega Lifesciences Public (MEGA.TB)

    • Philippines:

      • Earnings:

        • San Miguel (SMC.PM), PLDT Inc (TEL.PM)

  • Market Data:

    • Gold (Dec 24): +$10.10 or +0.40% to $2514.10

    • WTI Crude (Sep 24): ($0.41) or (0.51%) to $79.65

    • $-¥: +0.33 or +0.22% to 146.9630

    • $-KRW: +3.71 or +0.27% to 1368.7700

    • A$-$: +0.00 or +0.13% to 0.6584

    • $-INR: (0.06) or (0.07%) to 83.8949

    • $-CNY: +0.01 or +0.10% to 7.1740

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