Jun 08 ,2025
Synopsis:
Asian markets set for positive start to Monday trade. Futures signaling opening gains in Japan and Hong Kong (Australia closed for public holiday). S&P 500 futures steady after US markets logged second straight weekly advance. Treasuries also capped off another week of higher yields. Dollar steady after recording mild weekly decline. Crude unchanged after having best week since November. Gold a touch lower. Bitcoin continuing to push up from one-month low.
US and China resume talks in London on Monday with export licenses a key topic of discussion. Press sources noted China agreed to some rare earths approvals following Trump-Xi call on Thursday and growing alarm among autos about magnet shortages disrupting production. In other developments, Bloomberg sources noted signs of progress in US-India negotiations though Japan said several issues remain after concluding fifth round of talks. Attention also being pushed ahead to G7 summit from 15-Jun with Trump to hold trade talks with leaders including Japan PM Ishiba.
US May CPI (Wed) headlines this week's calendar with core inflation forecast to have nudged higher. Across Asia, China CPI and PPI (Mon) expected to show deflation pressures persisted in May. China trade sector also seen under pressure with export growth slowing and import contraction widening. Final read of Japan Q1 GDP (Mon) expected to confirm contraction. Central bank activity quiet with no major policy decisions and Fed in its blackout period ahead. Treasury 30Y auction (Thurs) a focus amid recent attention on long-end yield backup.
Pre-open Company News:
823.HK -- Link REIT clarifies media reports speculating spin-off of properties outside Mainland China and Hong Kong
500180.IN -- HDFC Bank responds to media report regarding Lilavati Hospital accusing CEO of financial fraud, seeking suspension
2197.HK -- Clover HK receives arbitration request filed by Gavi, claiming the repayment of the Advance Payment Amount
2181.JP -- PERSOL Holdings resumed buy at Nomura
3182.MK -- Genting downgraded to neutral from buy at UBS
300682.CH -- Longshine Technology Group downgraded to equal-weight from overweight at Morgan Stanley
6506.JP -- YASKAWA Electric downgraded to underperform from hold at Jefferies
8830.JP -- Sumitomo Realty & Development holder Elliott Investment Management issues letter to shareholders ahead of AGM
4612.JP -- Nippon Paint Holdings upgraded to buy from neutral at Goldman Sachs
066970.KS -- L&F Co. downgraded to sell from neutral at Goldman Sachs
SAWAD.TB -- Srisawad Corp. Public downgraded to underperform from outperform at Macquarie
010620.KS -- HD Hyundai Mipo downgraded to neutral from buy at Korea Investment & Securities
6367.JP -- DAIKIN INDUSTRIES downgraded to B from B+ at Mito Securities
On Deck:
China:
Economic:
08:00 CST: M2 NSA Y/Y; consensus +8.1%
08:00 CST: Trade Balance NSA; consensus +$105B
08:00 CST: Import Y/Y; consensus (1%)
08:00 CST: Export Y/Y; consensus +6.5%
08:00 CST: New Yuan Loans; consensus
08:00 CST: Loan Growth Y/Y; consensus
09:30 CST: PPI NSA Y/Y; consensus (3%)
09:30 CST: CPI NSA Y/Y; consensus (0.2%)
Japan:
Economic:
08:50 JST: GDP SAAR Q/Q (Final); consensus (0.7%)
08:50 JST: GDP SA Q/Q (Final); consensus (0.2%)
08:50 JST: Bank Loans NSA Y/Y; consensus
08:50 JST: GDP Y/Y (Final); consensus +1.7%
Taiwan:
Economic:
16:00 TST: Export NSA Y/Y; consensus +30%
Market Data:
Gold (Aug 25): ($10.30) or (0.31%) to $3336.30
WTI Crude (Jul 25): +$0.06 or +0.09% to $64.64
$-¥: (0.00) or (0.00%) to 144.8440
$-KRW: (1.00) or (0.07%) to 1359.1800
A$-$: +0.00 or +0.09% to 0.6498
$-INR: +0.02 or +0.02% to 85.7887
$-CNY: (0.00) or (0.01%) to 7.1885
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