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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.21%), Hang Seng Futures (0.94%), ASX SPI 200 (0.55%), S&P Futures +0.02%

Aug 20 ,2024

  • Synopsis:

    • Asian markets set for negative start to Wednesday trade. Futures signaling initial losses of ~1% in Japan and Hong Kong. ASX tracking for milder decline. S&P 500 futures flat after US indexes ended lower in uneventful Tuesday trade. Australian and New Zealand bonds rebounding after Treasury curve bear steepened earlier. Yen strengthening to two-week high against dollar. Crude and gold little changed following choppy session. Bitcoin range bound.

    • July FOMC minutes out later Wednesday, though previews note minutes somewhat stale with attention pulled forward to Chair Powell's Jackson Hole speech on Friday and several participants signaling more openness to near-term rate cut. Wednesday also brings annual payrolls benchmark revision with analysts expecting large negative revision though still showing solid increase in jobs over 12 months through Mar-2024.

    • Blomberg sources noted China's FX regulator asked state-owned banks to assess impact of strong yuan on exporters. Offshore yuan has rebounded 3% against dollar since end-June. While yuan's rebound considered to have given PBOC greater scope to relax monetary policy, currency strength has also raised concerns about impact on exports given trade sector has been a key contributor to growth over H1.

    • Bloomberg sources noted Chia weighing new proposal allowing local governments to issue special bonds to acquire unsold homes as part of broader efforts to reduce supply overhang on property market. However, proposal running into familiar constraints from depressed rental yields remaining below cost of funding. Comes as authorities face growing calls to step up support for property market as home prices continue to retreat.

  • Pre-open Company News:

    • 002128.CH -- Inner Mongolia Dian Tou Energy Corp to invest in Huolinhe 200MW Wind Power Project

    • 1033.HK -- Sinopec Oilfield Service reports H1 CAS net income attributable CNY451.8M vs guidance CNY452.0M

    • TRAI reports June total telephone net adds +2.0M

    • 600499.CH -- Keda Industrial Group reports H1 net income attributable CNY454.5M vs guidance CNY450.0-650.0M

    • 9983.HK -- Central China New Life guides H1 adjusted net income CNY138-153M vs year-ago CNY205M

    • 500124.IN -- Dr. Reddy's Laboratories, Aurigene Pharmaceutical Services, and Kainomyx sign non-binding MoU for potential partnership for joint development of affordable anti-malarial drug

    • 762.HK -- China Unicom (Hong Kong) reports July operational statistics: "Big Connectivity" subscribers 1.08B vs month-ago 1.07B

    • 1833.HK -- Ping An Healthcare & Technology reports H1 adjusted net income CNY89.7M vs year-ago (CNY249.3M)

    • 1811.HK -- CGN New Energy Holdings reports H1 net income attributable $183.5M, (7%) vs year-ago $197.8M

    • 600392.CH -- Shenghe Resources Holding to buy 86% stake in Jiangyin Jiahua New Material Resources for CNY182.7M

    • 600056.CH -- China Meheco Group reports H1 net income attributable CNY325.1M, (40%) vs year-ago CNY543.5M

    • ACEN.PM -- ACEN Corp. downgraded to underperform from neutral at BofA

    • 600177.CH -- Youngor Fashion Co. declares Q1 interim dividend CNY0.1/share

    • 000975.CH -- Shanjin International Gold Co. reports H1 net income attributable CNY1.08B, +46% vs year-ago CNY734.6M

    • 2556.HK -- Marketingforce Management reports H1 adjusted net income CNY47.7M vs guidance CNY41M

  • On Deck:

    • Hong Kong:

      • Earnings:

        • SITC International Holdings (1308.HK), Canvest Environmental Protection Group (1381.HK), Geely Automobile Holdings (175.HK), Weimob (2013.HK), Sinopec Shanghai Petrochemical (338.HK), Hong Kong Exchanges & Clearing (388.HK), VSTECS Holdings (856.HK), Henderson Land Development (12.HK), K. Wah International Holdings (173.HK), CGN Power (1816.HK), ESR Group (1821.HK), Lepu Biopharma (2157.HK), Wuxi Biologics (Cayman) (2269.HK), Shenzhen Pagoda Industrial (Group) (2411.HK), Minth Group (425.HK), China East Education Holdings (667.HK), Kerry Properties (683.HK), ZJLD Group (6979.HK), Sun Hung Kai & Co. (86.HK), ClouDr (9955.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Export NSA Y/Y (Preliminary); consensus +8.2%

        • 08:50 JST: Trade Balance NSA (Preliminary); consensus

        • 08:50 JST: Import NSA Y/Y (Preliminary); consensus

    • Australia:

      • Earnings:

        • Bapcor (BAP.AU), FINEOS Corporation Holdings (FCL.AU), Healius (HLS.AU), Ridley Corp. (RIC.AU), Superloop (SLC.AU), Santos (STO.AU), The Lottery Corp. (TLC.AU), Ventia Services Group (VNT.AU), Charter Hall Group (CHC.AU), Hansen Technologies (HSN.AU), Imdex (IMD.AU), Lycopodium (LYL.AU), National Storage REIT (NSR.AU), Schaffer Corp. (SFC.AU), Service Stream (SSM.AU), Autosports Group (ASG.AU), Experience Co. (EXP.AU), PointsBet Holdings (PBH.AU), PSC Insurance Group (PSI.AU), ARN Media (A1N.AU), Acrow Ltd. (ACF.AU), Eagers Automotive (APE.AU), Beacon Lighting Group (BLX.AU), Big River Industries (BRI.AU), Capitol Health (CAJ.AU), Codan (CDA.AU), CogState (CGS.AU), Centuria Capital (CNI.AU), ClearView Wealth (CVW.AU), DUG Technology (DUG.AU), Emeco Holdings (EHL.AU), EQT Holdings (EQT.AU), G8 Education (GEM.AU), Growthpoint Properties Australia (GOZ.AU), Insignia Financial (IFL.AU), IPH (IPH.AU), Lindsay Australia (LAU.AU), MA Financial Group (MAF.AU), Megaport (MP1.AU), Medibank Private (MPL.AU), Northern Star Resources (NST.AU), Objective Corp. (OCL.AU), Peet (PPC.AU), Qube Holdings (QUB.AU), Redox Ltd. (RDX.AU), Regis Resources (RRL.AU), Stockland (SGP.AU), Sonic Healthcare (SHL.AU), Super Retail Group (SUL.AU), Telix Pharmaceuticals (TLX.AU), The Reject Shop (TRS.AU), Universal Store Holdings (UNI.AU), Wagners Holding (WGN.AU)

    • New Zealand:

      • Earnings:

        • Auckland International Airport (AIA.NZ)

    • Taiwan:

      • Earnings:

        • SinoPac Financial Holdings Co. (2890.TT)

  • Market Data:

    • Gold (Dec 24): +$3.30 or +0.13% to $2553.90

    • WTI Crude (Sep 24): $0.00 or 0.00% to $74.04

    • $-¥: (1.47) or (1.00%) to 145.1270

    • $-KRW: (6.02) or (0.45%) to 1327.6900

    • A$-$: +0.00 or +0.22% to 0.6747

    • $-INR: (0.07) or (0.08%) to 83.7680

    • $-CNY: (0.00) or (0.01%) to 7.1354

  • 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".

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