Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.10%, Hang Seng Futures +0.12%, ASX SPI 200 +0.64%, S&P Futures +0.09%

Aug 29 ,2024

  • Synopsis:

    • Asian markets set for mixed start to Friday trade. Future pointing to muted open in Japan and Hong Kong while signaling gains in Australia. Nasdaq futures edging higher afterhours (NVDA notable decliner overnight though tech sector spillover was limited). Australian and New Zealand bond yields rising after Treasuries weakened following 7Y note auction. Dollar index unable to maintain earlier gains as yen rebounded from lows. Gold and crude little changed after gaining in cash session. Bitcoin fell back towards recent lows

    • Tokyo core inflation unexpectedly rose to 2.4% from 2.2% y/y in August. BOJ Governor Ueda and Deputy Governor Ueda's remarks over past week have offered little additional clarity on tightening trajectory, reiterating their attention on recent market instability while maintaining rate hikes on the cards as long as economy and inflation developments continue to track BOJ's forecasts. Economists continue to expect another rate hike by year-end with December seen as likely month for a move.

    • Some attention to PBOC buying CNY400B of 10Y and 15Y bonds on Thursday, coming on same day it introduced new section on its website for details on bond transactions. Also comes after PBOC announced in July it had hundreds of billions of yuan bonds available to borrow and sell. Moves seen as prelude to possible intervention in bond market to arrest ongoing slide in yields that have fueled policymaker concerns about bubble risks.

    • Market attention moves to US PCE index later tonight amid forecasts 3M annualized pace will fall below Fed's 2% target. Annualized core inflation expected to tick higher but remain near lowest since Mar-2021. Inflation data de-risk to an extent following Fed's shift in emphasis to supporting labor market. While select Fedspeak has leaned a little hawkish this week, 25 bp rate cut in September remains the widely expected outcome.

  • Pre-open Company News:

    • 2317.JP -- Systena downgraded to B from A at Ichiyoshi Securities

    • 002444.CH -- Hangzhou Great Star Industrial reports H1 net income attributable CNY1.19B vs guidance CNY1.09-1.18B

    • ^ASIAREADS -- StreetAccount Asia Reads

    • 507815.IN -- Gillette India reports Q4 EPS INR35.59 vs year-ago INR28.15

    • 1199.HK -- COSCO SHIPPING Ports sells 20% stake in COSCO SHIPPING Ports (Tianjin), shareholder loan to controlling shareholder for $49.3M (CNY350.4M) cash

    • 2016.HK -- China Zheshang Bank confirms H1 prelim. results announced on 14-Aug

    • 601568.CH -- Shaanxi Beiyuan Chemical Industry Group confirms H1 preliminary results, as reported 25-Jul

    • 688349.CH -- Sany Renewable Energy reports H1 net income attributable CNY433.6M, (47%) vs year-ago CNY816.8M

    • 6128.HK -- Graphex Group Limited reports H1 net income attributable (HK$54.1M) vs year-ago (HK$44.0M)

    • 1618.HK -- Metallurgical Corp. of China reports H1 net income attributable CNY4.15B, (43%) vs year-ago CNY7.22B

    • 1199.HK -- Orient Overseas (International) acquires 20% stake in COSCO SHIPPING Ports (Tianjin) Limited for $49.3M (HK$384.5M)

    • 600029.CH -- China Southern Airlines reports H1 CAS net income attributable (CNY1.23B) vs guidance (CNY1.06-1.58B) and year-ago (CNY2.88B)

    • 1995.HK -- Ever Sunshine Services Group reports H1 net income attributable CNY265.1M, +10% vs year-ago CNY240.4M

    • 603288.CH -- Foshan Haitian Flavouring & Food reports H1 net income attributable CNY3.45B, +12% vs year-ago CNY3.10B

    • 301236.CH -- iSoftStone Information Technology (Group) reports H1 net income attributable (CNY154.3M) vs year-ago CNY202.6M

  • On Deck:

    • China:

      • Earnings:

        • GF Securities (000776.CH), Zhejiang Supor (002032.CH), China Merchants Securities (600999.CH), LONGi Green Energy Technology (601012.CH), Huatai Securities (601688.CH), JOINN Laboratories (603127.CH), Shenwan Hongyuan Group (000166.CH), China Tourism Group Duty Free (601888.CH)

    • Hong Kong:

      • Earnings:

        • China Railway Construction (1186.HK), Agricultural Bank of China (1288.HK), China Reinsurance (Group) (1508.HK), China Communications Construction (1800.HK), Shanghai Junshi Biosciences (1877.HK), The Bank of Chongqing (1963.HK), Melco International Development (200.HK), BBMG Corp (2009.HK), Guangzhou Automobile Group (2238.HK), Shui On Land (272.HK), Shanghai Electric Group (2727.HK), Liaoning Port (2880.HK), China Railway Group (390.HK), China International Capital (3908.HK), China Energy Engineering (3996.HK), Skyfame Realty (Holdings) (59.HK), China Eastern Airlines (670.HK), China Everbright Bank (6818.HK), Guangzhou Baiyunshan Pharmaceutical Holdings (874.HK), China Construction Bank (939.HK), MINISO Group Holding (9896.HK), Ronshine China Holdings (3301.HK), Seazen Group (1030.HK), China Shenhua Energy (1088.HK), Golden Solar New Energy Technology Holdings (1121.HK), Jacobio Pharmaceuticals Group (1167.HK), Yankuang Energy Group (1171.HK), China Resources Gas Group (1193.HK), 3D Medicines (1244.HK), China MeiDong Auto Holdings (1268.HK), Renze Harvest International (1282.HK), LifeTech Scientific (1302.HK), China Ruyi Holdings (136.HK), China Merchants Port Holdings (144.HK), Guolian Securities (1456.HK), YiChang HEC ChangJiang Pharmaceutical (1558.HK), Yuzhou Group Holdings (1628.HK), China South City Holdings (1668.HK), MOG Digitech Holdings (1942.HK), E-House (China) Enterprise Holdings (2048.HK), Haichang Ocean Park Holdings (2255.HK), Sirnaomics (2257.HK), YH Entertainment Group (2306.HK), Glory Health Industry (2329.HK), Dah Sing Banking Group (2356.HK), XD Inc (2400.HK), MedSci Healthcare Holdings (2415.HK), Edianyun (2416.HK), Venus Medtech (Hangzhou) (2500.HK), Dida Inc. (2559.HK), CITIC Ltd (267.HK), China CITIC Financial Asset Management Co. (2799.HK), COSCO SHIPPING Development (2866.HK), Agile Group Holdings (3383.HK), Legend Holdings (3396.HK), Angang Steel (347.HK), Beijing Tong Ren Tang Chinese Medicine (3613.HK), China Yongda Automobiles Services Holdings (3669.HK), Dah Sing Financial Holdings (440.HK), Sihuan Pharmaceutical Holdings Group (460.HK), GOME Retail Holdings (493.HK), Tongdao Liepin Group (6100.HK), Laopu Gold (6181.HK), Flowing Cloud Technology (6610.HK), Huaxin Cement (6655.HK), Evergrande Property Services Group (6666.HK), Differ Group Auto (6878.HK), Joy Spreader Interactive Technology (6988.HK), Hopson Development Holdings (754.HK), Tiangong International (826.HK), MicroPort Scientific (853.HK), Digital China Holdings (861.HK), Zhongsheng Group Holdings (881.HK), CIFI Holdings (Group) (884.HK), LVGEM (China) Real Estate Investment (95.HK), ADICON Holdings (9860.HK), ZX, Inc. (9890.HK), Theme International Holdings (990.HK), Radiance Holdings (Group) (9993.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +2.9%

        • 08:50 JST: Industrial Production SA M/M (Preliminary); consensus +4%

        • 14:00 JST: Housing Starts NSA Y/Y; consensus +2.4%

      • Earnings:

        • Tri Chemical Laboratories (4369.JP)

    • Australia:

      • Economic:

        • 11:30 AEST: Private Sector Credit M/M; consensus +0.5%

        • 11:30 AEST: Retail Sales SA M/M (Preliminary); consensus +0.3%

      • Earnings:

        • Hutchison Telecommunications (Australia) (HTA.AU), Jupiter Mines (JMS.AU), 4DMedical (4DX.AU), Australian Unity Office Fund (AOF.AU), APM Human Services International (APM.AU), Burgundy Diamond Mines (BDM.AU), Emerald Resources (EMR.AU), FBR (FBR.AU), Harvey Norman Holdings (HVN.AU), IODM Ltd (IOD.AU), IPD Group (IPG.AU), Structural Monitoring Systems (SMN.AU), Star Entertainment Group (SGR.AU)

    • India:

      • Economic:

        • 05:30 IST: GDP NSA Y/Y; consensus +7.1%

    • Taiwan:

      • Economic:

        • 16:00 TST: GDP NSA Y/Y (Final); consensus +5.1%

  • Market Data:

    • Gold (Dec 24): ($7.50) or (0.29%) to $2552.80

    • WTI Crude (Oct 24): ($0.10) or (0.13%) to $75.81

    • $-¥: +0.46 or +0.32% to 145.0410

    • $-KRW: (4.00) or (0.30%) to 1333.1900

    • A$-$: +0.00 or +0.12% to 0.6794

    • $-INR: (0.06) or (0.07%) to 83.8969

    • $-CNY: (0.03) or (0.43%) to 7.0953

  • 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