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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.22%), Hang Seng Futures +0.92%, ASX SPI 200 (0.18%), S&P Futures +0.17%

Aug 18 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Monday trade. Nikkei futures pointing to early morning pullback while Hang Seng tracking for minor losses and the ASX tracking for opening gains. S&P 500 futures edging higher after US indexes snapped four week declining streak. Australian and New Zealand bond yields creeping higher. Yen weakening against most other currencies. Crude gapped lower amid easing of Middle East tensions. Gold steady near record high. Bitcoin retreating after failure at $60K.

    • Markets begin new trading week with soft landing optimism fueling revival of bullish narrative after weak US payrolls data and accompanying recession talk sparked big selloff. In-line US CPI has also put more traction behind disinflation and preceded dovish commentary from Fed officials. Yen stabilization/weakness has also helped calmed volatility with Japan stocks logging best week since early 2020

    • Focus turns to Jackson Hole Symposium and Fed Chair Powell's Friday speech on economic outlook. Lot of anticipation whether Powell reinforces expectations of a 25 bp rate cut in September after multiple Fed officials over past week signaled support for near-term easing. Options markets pricing in potentially volatile aftermath depending on Powell's tone and what that portends for policy path beyond September.

    • Another round of weak China macro data reinforced calls for authorities to step up policy support. At a State Council meeting on Friday, Premier Li said more efforts needed to boost domestic demand with a focus on consumption and supporting investment. Reuters cited policy adviser who said Beijing may decide in October to bring forward part of next year's bond issuance quota if growth does not show signs of bottoming in summer.

  • Pre-open Company News:

    • 288.HK -- WH Group initiated outperform at CLSA

    • 2331.HK -- Li Ning downgraded to hold from outperform at Daiwa

    • 517334.IN -- Samvardhana Motherson International completes acquisition of remaning 34% stake of Motherson Auto Solutions

    • 2016.HK -- China Zheshang Bank's president Zhang Rongsen resigns due to personal reasons, effective immediately, chairman Lu Jianqiang appointed acting interim president

    • 2376.TT -- Gigabyte Technology upgraded to buy from neutral at Fubon Securities

    • SAWAD.TB -- Srisawad Corp. Public upgraded to add from hold at CGS International

    • CPNREIT.TB -- CPN Retail Growth Leasehold REIT downgraded to hold from buy at Maybank Investment Bank

    • SPRC.TB -- Star Petroleum Refining Public upgraded to buy from hold at UOB Kay Hian Securities

    • A17U.SP -- CapitaLand Ascendas REIT upgraded to overweight from neutral at JPMorgan

    • LTG.PM -- LT Group declares special DPS PHP0.30

    • 533655.IN -- Triveni Turbine releases sustainability report

    • 2386.HK -- SINOPEC Engineering (Group) reports H1 net income attributable CNY1.32B vs year-ago CNY1.32B

    • 6326.JP -- Kubota issues July retail sales report

    • IVL.TB -- Indorama Ventures Public upgraded to buy from sell at Thanachart Securities

    • Jackson Hole Symposium, central bank minutes and earnings among this week's highlights:

  • On Deck:

    • China:

      • Economic:

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

      • Earnings:

        • Offshore Oil Engineering (600583.CH), Hesai Group (HSAI)

    • Hong Kong:

      • Earnings:

        • Hengan International Group (1044.HK), Shandong Hi-Speed New Energy Group (1250.HK), J&T Global Express (1519.HK), Brii Biosciences Ltd. (China) (2137.HK), West China Cement (2233.HK), Giant Biogene Holding (2367.HK), Champion Real Estate Investment Trust (2778.HK), China Resources Beer (Holdings) (291.HK), Sipai Health Technology (314.HK), China State Construction International Holdings (3311.HK), Grand Pharmaceutical Group (512.HK), Poly Property Services (6049.HK), Star CM Holdings (6698.HK), Smoore International Holdings (6969.HK), Sichuan Kelun-Biotech Biopharmaceutical (6990.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Core Machinery Orders ex-Electric Power Companies & Ships SA M/M; consensus +1.8%

      • Earnings:

        • Ai Holdings (3076.JP)

    • Australia:

      • Earnings:

        • GPT Group (GPT.AU), IRESS (IRE.AU), Lendlease Group (LLC.AU), Helia Group (HLI.AU), Reliance Worldwide Corp. (RWC.AU), Westpac Banking (WBC.AU), Ansell (ANN.AU), Baby Bunting Group (BBN.AU), Dexus Property Group (DXS.AU), EnviroSuite (EVS.AU), HUB24 (HUB.AU), Integrated Research (IRI.AU), Macmahon Holdings (MAH.AU), Perenti (PRN.AU), RAM Essential Services Property Fund (REP.AU), Retail Food Group (RFG.AU), SRG Global (SRG.AU), Solvar (SVR.AU), Vicinity Centres (VCX.AU)

    • New Zealand:

      • Earnings:

        • Mercury NZ (MCY.NZ)

    • Malaysia:

      • Earnings:

        • Kuala Lumpur Kepong (2445.MK)

    • Thailand:

      • Economic:

        • 09:30 SAST: GDP NSA Y/Y; consensus +2.1%

  • Market Data:

    • Gold (Dec 24): +$4.80 or +0.19% to $2542.60

    • WTI Crude (Sep 24): ($0.36) or (0.47%) to $76.29

    • $-¥: +0.39 or +0.27% to 148.0220

    • $-KRW: (1.18) or (0.09%) to 1349.0400

    • A$-$: +0.00 or +0.03% to 0.6672

    • $-INR: (0.01) or (0.01%) to 83.8645

    • $-CNY: (0.00) or (0.01%) to 7.1640

  • 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
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