Jul 24 ,2025
Synopsis:
Asian markets set for negative start to Friday trade. Futures signaling opening declines in Japan, Hong Kong and Australia. S&P 500 futures flat afterhours though INTC under pressure after earnings guidance underwhelmed. Australian bond yields up slightly at the front end, tracking earlier Treasury curve bear flattening. FX markets steady after dollar recovered from earlier lows. Crude and gold little changed. Bitcoin remains range bound.
Tokyo CPI fell by more than expected with core inflation below 3% for first time since March. Utility subsidies a factor with ex-energy inflation unchanged. Bloomberg sources this week noted policymakers see little need to shift policy stance and still consider it appropriate to maintain rate hike stance if economic outlook is realized. Bloomberg survey showed economists split on timing of next rate hike between October and January though improving underlying inflation seen raising possibility of an increase in coming months.
Nothing incremental from latest trade headlines. Nikkei piece highlighted Tokyo's different interpretation of US-Japan trade agreement amid uncertainty over lowered auto tariff start date, funding source of $550B investment commitment and Japan defense spending. Indonesia and US discussing critical minerals partnership. India voiced confidence about reaching trade deal by 1-Aug. Nothing substantive emerged from EU-China leaders' summit on Thursday amid divisions over bloc's EV tariffs, China's trade practices and its support for Moscow..
Pre-open Company News:
509930.IN -- Supreme Industries guides INR10.00B revenue target and double digit volume growth
532187.IN -- StreetAccount Consensus Metrics Preview - IndusInd Bank Q1 Earnings
532814.IN -- Indian Bank reports Q1 standalone EPS INR22.07 vs FactSet INR19.47 [3 est, INR18.90-20.30]
008770.KS -- StreetAccount Consensus Metrics Preview - HOTEL SHILLA Co. Q2 Earnings
540767.IN -- StreetAccount Consensus Metrics Preview - Nippon Life India Asset Management Q1 Earnings
601878.CH -- Zheshang Securities reports preliminary H1 net income attributable CNY1.15B, +46% vs year-ago CNY784.4M
532555.IN -- StreetAccount Consensus Metrics Preview - NTPC Ltd Q1 Earnings
082740.KS -- Hanwha Engine reports Q2 operating profit KRW33.78B vs FactSet KRW25.82B [5 est, KRW24.40-27B]
542904.IN -- Ujjivan Small Finance Bank reports Q1 net profit INR1.03B vs FactSet INR1.00B [9 est, INR548-1.52B]
601668.CH -- China State Construction Engineering Corp. reports Jan-Jun new contracts CNY2.501T, +0.9% y/y
4307.JP -- StreetAccount Consensus Metrics Preview - Nomura Research Institute Q1 Earnings
506395.IN -- Coromandel International reports Q1 consolidated EPS INR17.12 vs FactSet INR13.93 [3 est, INR13.30-15.10]
1177.HK -- Sino Biopharmaceutical's unit LaNova Medicines obtains US FDA IND approval for LM-350 'CDH17 ADC'
542904.IN -- Follow-up: Ujjivan Small Finance Bank reports Q1 net profit INR1.03B vs FactSet INR1.00B [9 est, INR548-1.52B]
On Deck:
Japan:
Economic:
14:00 JST: Leading Index (Final); consensus
Earnings:
Renesas Electronics (6723.JP), FANUC Corp. (6954.JP), SCREEN (7735.JP), Kyudenko (1959.JP), Hogy Medical (3593.JP), Amano Corp. (6436.JP), Pacific Industrial (7250.JP), Daishi Hokuetsu Financial Group (7327.JP), The 77 Bank (8341.JP), Hokuhoku Financial Group (8377.JP), The Awa Bank (8388.JP), JAFCO Group (8595.JP), MISUMI Group (9962.JP)
South Korea:
Earnings:
Doosan (000150.KS), Kia Corp. (000270.KS), Hanmi Science Co. (008930.KS), S-Oil Corp (010950.KS), Hyundai WIA (011210.KS), Doosan Enerbility (034020.KS), Shinhan Financial (055550.KS), Hana Financial (086790.KS), Hanmi Pharmaceutical Co. (128940.KS), HL Mando (204320.KS), Doosan Bobcat (241560.KS), HDC Hyundai Development (294870.KS), Woori Financial Group (316140.KS), Doosan Fuel Cell (336260.KS), HOTEL SHILLA Co. (008770.KS), S-1 Corp. (Korea) (012750.KS), Cheil Worldwide (030000.KS)
India:
Earnings:
Cipla Ltd (500087.IN), Chennai Petroleum (500110.IN), HFCL Ltd (500183.IN), Grindwell Norton (506076.IN), Gujarat Mineral Development (532181.IN), Bajaj Finserv (532978.IN), Intellect Design Arena (538835.IN), SBI Cards & Payment Services (543066.IN), Steel Authority of India (500113.IN), Jammu & Kashmir Bank (532209.IN), Mahindra Lifespace Developers (532313.IN), Petronet LNG (532522.IN), Home First Finance Company India (543259.IN), Tamilnad Mercantile Bank (543596.IN)
Singapore:
Earnings:
Keppel DC REIT (AJBU.SP)
Thailand:
Earnings:
Delta Electronics (Thailand) Public (DELTA.TB)
Market Data:
Gold (Aug 25): ($4.40) or (0.13%) to $3369.10
WTI Crude (Sep 25): +$0.17 or +0.26% to $66.20
$-¥: +0.48 or +0.33% to 146.9930
$-KRW: (2.88) or (0.21%) to 1372.0000
A$-$: +0.00 or +0.07% to 0.6592
$-INR: +0.05 or +0.06% to 86.4289
$-CNY: (0.01) or (0.10%) to 7.1530
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