Jun 16 ,2025
Synopsis:
Asian markets set for positive start to Tuesday trade. Futures signaling opening gains in Japan and Hong Kong, and flat start in Australia. S&P 500 futures easing afterhours. Australia bond yields up 1-2 bp, taking cues from earlier Treasury curve steepening. FX markets steady with dollar little changed on major crosses. Crude rebounding following Trump's call to evacuate Tehran. Gold flat. Bitcoin off overnight highs.
Middle East tensions elevated with Iran and Israel continuing to trade attacks. Publicly Iran voicing defiance and Israel signaling no letup in its campaign to destroy Iranian nuclear and ballistic missile programs. At same time, press sources noted Tehran's interest in resuming diplomacy and Trump repeated Iran wants to talk. However, Trump also warned later Monday for people to evacuate Tehran without giving any context. From oil price perspective, conflict has not impacted shipping through Strait of Hormuz or dealt significant damage to crude production.
BOJ expected to leave interest rates unchanged, as board weighs tariff-related uncertainty and against elevated domestic inflation. Rate hike expectations recently pushed back to January according to recent Bloomberg survey. Focus is also on BOJ's announcement of details surrounding pace of JGB tapering program for FY26. Previews have noted expectations central bank will slow purchase reductions with Nikkei noting pace will halve from ¥400B to about ¥200B.
Pre-open Company News:
4324.JP -- Dentsu Group to turn subsidiary CARTA into JV with NTT Docomo
011780.KS -- Kumho Petrochemical Co. releases sustainability report
066970.KS -- L&F Co. issues KRW300B convertible bonds due 2030; conversion price KRW50,002/share
2610.TT -- China Airlines reports May traffic +1.6%
1898.HK -- China Coal Energy reports May commercial coal production 11.9Mt, +1.9% y/y
3692.HK -- Hansoh Pharmaceutical Group initiated outperform at Haitong
3088.JP -- MatsukiyoCocokara & Co. May same-store sales +2.1% y/y
1088.HK -- China Shenhua Energy reports May coal production 28.0Mt vs year-ago 28.4Mt
C6L.SP -- Singapore Airlines reports May traffic +3.1% y/y
522287.IN -- Kalpataru Projects International publishes Annual Report for FY2024-25
179.HK -- Johnson Electric Holdings releases sustainability report
2343.HK -- Pacific Basin Shipping holder Caravel Group discloses purchase of 25M shares on 12-Jun to increase stake from 12.7% to 13.2%
600515.CH -- Hainan Airport Infrastructure reports May air traffic 12,310 flights, +3.0% y/y
On Deck:
Japan:
Economic: BOJ policy statement, press conference
Market Data:
Gold (Aug 25): ($0.30) or (0.01%) to $3417.00
WTI Crude (Jul 25): +$1.06 or +1.48% to $72.83
$-¥: +0.61 or +0.43% to 144.7340
$-KRW: (12.68) or (0.93%) to 1353.5400
A$-$: +0.00 or +0.42% to 0.6515
$-INR: +0.20 or +0.23% to 86.1042
$-CNY: (0.00) or (0.04%) to 7.1788
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