Jun 19 ,2025
Synopsis:
Asian markets set for mixed start to Friday trade. Futures signaling flat start in Japan, and mild losses in Hong Kong and Australia. S&P 500 futures eased in overnight trading, where EU markets ended lower amid ongoing Middle East tensions while BOE, SNB and Norges Bank all cut rates. Australian bond yields down 1-2 bp. FX markets steady after dollar inched higher overnight. Crude continues to fluctuate while gold pulling back. Bitcoin remains rangebound.\
On the economic calendar, Japan core inflation hotter-than-expected in May to highest since Jan-2023. BOJ Governor Ueda slated to remark later this afternoon. Japan Ministry of Finance to meet with primary dealers today following press leaks about plans to reduce sales of superlong JGBs while raising issuance of shorter-dated securities. China expected to keep 1Y and 5Y loan prime rates unchanged following May's reduction, though easing expectations reinforced by soft May credit data and deflation persistence.
In latest Middle East developments, White House Press Secretary Karoline Leavitt said President Trump will decide within two weeks whether to strike Iran. Extended timeline follows reports Wednesday Trump privately approved attack plans with potential action in coming days. However, Leavitt said Trump saw substantial chance of negotiations. Also reports US envoy Witkoff engaging in behind-the-scenes talks with Iran's foreign minister, who is set to meet with his EU counterparts on Friday. .
Pre-open Company News:
7780.JP -- Menicon to conduct up-to-2.3M-share buyback for up-to-¥2.40B from 20-Jun to 20-Dec
688276.CH -- Changchun BCHT Biotechnology obtains NMPA trial approval for BK-01 adjuvanted influenza vaccine
3898.HK -- Zhuzhou CRRC Times Electric completes up to CNY1.70B H-share buyback announced in Dec 2024
022100.KS -- POSCO DX releases 2024 sustainability report
9627.JP -- Ain Holdings upgraded to 2-neutral from 3-underperform at SMBC Nikko
3038.JP -- Kobe Bussan downgraded to B from B+ at Mito Securities
000975.CH -- Shandong Gold Mining unit Shanjin International Gold plans to list in Hong Kong
5991.JP -- NHK Spring downgraded to neutral from buy at Mizuho Securities
600380.CH -- Joincare Pharmaceutical Group Industry receives NMPA trial approval for JKN2301 for pediatric influenza
4182.JP -- Mitsubishi Gas Chemical upgraded to outperform from neutral at Okasan Securities
3086.JP -- J. FRONT RETAILING downgraded to neutral from buy at Goldman Sachs
6465.JP -- HOSHIZAKI downgraded to equal-weight from overweight at Morgan Stanley
2162.HK -- Keymed Biosciences completes placement and top up subscription of 21.6M shares at HK$45.48/share
On Deck:
China:
Economic:
08:00 CST: Foreign Direct Investment Y/Y; consensus
09:30 CST: 1 and 5 Year Loan Prime Rate; consensus
Japan:
Economic:
08:30 JST: CPI Core National Y/Y; consensus
08:30 JST: CPI National Y/Y; consensus +3.4%
08:30 JST: CPI ex-Fresh Food and Energy; consensus +3.4%
Earnings:
NISHIMATSUYA CHAIN (7545.JP)
Market Data:
Gold (Aug 25): ($23.70) or (0.70%) to $3384.40
WTI Crude (Jul 25): +$0.30 or +0.40% to $75.44
$-¥: +0.19 or +0.13% to 145.3200
$-KRW: +0.81 or +0.06% to 1377.0300
A$-$: (0.00) or (0.40%) to 0.6483
$-INR: +0.23 or +0.27% to 86.7371
$-CNY: (0.00) or (0.03%) to 7.1875
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