Jul 22 ,2025
Synopsis:
Asian markets set for mixed start to Wednesday trade. Futures signaling mild opening decline in Japan, and early gains in Hong Kong and Australia. S&P 500 futures nudging higher afterhours following Trump announcement of Japan trade deal. Dollar moving up against majors. Australian bond yields down 1-2 bp after Treasuries firmed overnight. Crude rebounding from earlier lows while gold flat. Bitcoin continues to fluctuate around $120K.
President Trump announced trade deals with Japan, Indonesia and Philippines, which will involve various commitments to invest in US, purchase more American products and allow increased market access to US firms. All three countries to face lower duties than those specified in tariff letters. Talks with China also moving in positive direction with Treasury Secretary Bessent signaling extension to 12-Aug deadline and revealing he will meet his Chinese counterparts in Stockholm early next week.
Japan 40Y bond auction slated for Wednesday. Represents first auction since Sunday's upper house election that saw LDP coalition lose its majority. Bond sale to test investor appetite following recent rise in superlong yields amid a pickup in deficit concerns as opposition parties push for looser fiscal policy. Press have also discussed BOJ policy implications from the election with Bloomberg sources noting policymakers see little need to shift policy stance and still consider it appropriate to maintain rate hike stance if economic outlook is realized.
Pre-open Company News:
539957.IN -- Mahanagar Gas reports Q1 standalone EPS INR32.83 vs FactSet INR26.95 [9 est, INR22.20-30.50]
India June 2025 credit cards outstanding 111.2M vs 111.2M in May
1070.HK -- TCL Electronics Holdings guides H1 adjusted net income attributable HK$950M-1.08B, +45-65% y/y
1929.HK -- Chow Tai Fook Jewellery Group reports Q1 retail sales value growth (1.9%) y/y
2285.HK -- Chervon Holdings guides H1 net income $90.0-100.0M vs year-ago $61.6M
540719.IN -- StreetAccount Consensus Metrics Preview - SBI Life Insurance Q1 Earnings
7595.JP -- FMR LLC increases stake in Argo Graphics to 12.7% from 9.5%
522113.IN -- Timken India releases sustainability report
1177.HK -- Sino Biopharmaceutical completes first subject dosing for TQB6411 injection to treat tumors
Retailers Association of India reports June India retail sales +8% y/y
500233.IN -- Kajaria Ceramics reports Q1 consolidated EPS cont ops INR6.98 vs year-ago INR5.97
512.HK -- Grand Pharmaceutical Group obtains NMPA approval for clinical trial of TLX591 in treatment of prostate cancer
On Deck:
Hong Kong:
Earnings:
ASMPT (522.HK)
Japan:
Earnings:
OBIC Co. (4684.JP), OBIC Business Consultants (4733.JP), Japan Aviation Electronics Industry (6807.JP), Canon Marketing Japan (8060.JP)
South Korea:
Earnings:
HD Hyundai Infracore (042670.KS), Samsung Biologics (207940.KS), SK Hynix (000660.KS), LG Innotek Co. (011070.KS)
Australia:
Earnings:
Woodside Energy Group (WDS.AU)
India:
Earnings:
Persistent Systems (533179.IN), Tata Teleservices (Maharashtra) (532371.IN), Coforge (532541.IN), Oracle Financial Services Software (532466.IN), Aditya Birla Real Estate (500040.IN), Borosil Renewables (502219.IN), SRF Ltd (503806.IN), Mahindra Holidays & Resorts India (533088.IN), Syngene International (539268.IN), Syrma SGS Technology (543573.IN), Bikaji Foods International (543653.IN)
Singapore:
Earnings:
Mapletree Logistics Trust (M44U.SP), OUE Real Estate Investment Trust (TS0U.SP)
Market Data:
Gold (Aug 25): ($1.60) or (0.05%) to $3442.10
WTI Crude (Aug 25): $0.00 or 0.00% to $66.21
$-¥: (0.50) or (0.34%) to 146.8780
$-KRW: (2.17) or (0.16%) to 1380.6300
A$-$: +0.00 or +0.32% to 0.6551
$-INR: +0.11 or +0.13% to 86.3428
$-CNY: (0.00) or (0.03%) to 7.1738
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