Jun 10 ,2025
Synopsis:
Asian markets set for mildly positive start to Wednesday trade. Futures signalling small opening gains in Japan, Hong Kong and Australia. S&P 500 futures remain flat following US-China in principle agreement. Australian yield curve bear flattening after Treasuries ended little changed overnight. Dollar steady against majors following another listless session. Crude easing slightly while gold and copper flat. Bitcoin little changed.
US and China reached framework to implement Geneva consensus though unclear whether discussions resolved dispute over export controls. Commerce Secretary Lutnick said he expects framework to lead to resolution of rare earths and magnet issue, and suggested relaxation of US export controls would depend on China moving first on rare earths. In other trade developments, US and India reportedly nearing an interim deal. US and Mexico also reportedly nearing deal to reduce steel tariff and cap import volumes.
Focus increasingly on next week's BOJ meeting with Bloomberg economist poll showing two-thirds majority expect central bank to slow pace of JGB purchase reductions in FY26. Rate hike calls pushed back to January with October increase seen as next likely outcome. On Tuesday Governor Ueda noted scope for easing is extremely limited with rates still so close to zero though repeated policy adjustments will continue if there is a sufficient confidence level of achieving forecasts.
Economic calendar headlined by US May CPI later Wednesday, which is forecast to show core inflation rose to highest since January. Economist previews expect more signals of tariff impact including expected price increases in apparel, household furnishings. Report could add some support to either Fed hold or cut narratives, though market has recently pushed back timing of first cut to September from July with labor market the bigger recent influence recently on rate path outlook..
Pre-open Company News:
7205.JP -- Hino Motors to transfer Hamura Plant to Toyota Motor for ¥150B
1101.TT -- TCC Group Holdings CO. reports May revenue NT$12.62B, (9.0%) y/y
2474.TT -- Catcher Technology reports May revenue NT$1.78B, +8.4% y/y
2881.TT -- Fubon Financial Holding reports May PBT (NT$8.95B); StreetAccount notes the year-ago figure was NT$4.25B
2207.TT -- Hotai Motor reports May consolidated revenue NT$24.04B, (3.2%) y/y
1402.TT -- Far Eastern New Century reports May revenue NT$19.61B, (14.2%) y/y
2610.TT -- China Airlines reports May revenue NT$16.62B, +3.2% y/y
7202.JP -- Isuzu Motors 29.3M-share secondary offering selling price set at ¥1,779.5/share
300373.CH -- Yangzhou Yangjie Electronic Technology completes CNY40.0-80.0M buyback
3813.HK -- Pou Sheng International (Holdings) reports May revenue CNY1.50B, (3.3%) y/y
3702.TT -- WPG Holdings reports May revenue NT$75.46B, +12.1% y/y
551.HK -- Yue Yuen Industrial (Holdings) reports May revenue $711.4M, (0.8%) y/y
600079.CH -- Humanwell Healthcare president Deng Xiafei has retired, effective yesterday
2882.TT -- Cathay Financial Holdings reports May net income NT$5.24B; StreetAccount notes the year-ago figure was NT$7.88B
On Deck:
Japan:
Economic:
08:50 JST: Domestic CGPI NSA Y/Y; consensus
South Korea:
Economic:
08:00 KST: Unemployment Rate; consensus 2.7%
Market Data:
Gold (Aug 25): ($1.70) or (0.05%) to $3341.70
WTI Crude (Jul 25): ($0.22) or (0.34%) to $64.76
$-¥: +0.26 or +0.18% to 144.8650
$-KRW: +6.13 or +0.45% to 1360.4700
A$-$: +0.00 or +0.17% to 0.6528
$-INR: +0.02 or +0.03% to 85.6529
$-CNY: +0.01 or +0.08% to 7.1867
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