Aug 05 ,2025
Synopsis:
Asian markets set for mixed start to Wednesday trade. Futures signaling opening declines in Japan and Hong Kong, and muted start in Australia. S&P 500 futures flat after pulling lower in Tuesday's session. Australian and New Zealand bonds little changed after front-end Treasury yields rose overnight. FX market price action muted with dollar index flat. Crude steady after extending post-OPEC+ drop. Gold flat. Bitcoin retreated to early July lows before steadying.
Mild negative leads from US, where equities pulled back following Monday's rebound. Renewed weakness followed soft ISM services data and component weakness (new orders and employment), which came on heels of Friday's underwhelming payrolls figures. Markets remain priced for September rate cut but there wasn't much help from dovish remarks by SF Fed's Daly. Some disappointment also from latest afterhours US tech earnings with AMD flagging China market challenges and SMCI's downgraded sales guidance raising concerns about order delays and margins.
President Trump touched on several topics in CNBC interview, though nothing surprising from his comments. Repeated threat to substantially hike India tariffs, citing Russian crude purchases and other complaints. Bloomberg sources noted India continuing to weigh response, including possible market access concessions. Trump again said China deal very close and flagged meeting with Xi by year-end. Foreshadowed phased in pharma tariffs topping out at 250%. Repeated semiconductor tariffs to be announced soon.
On economic front, RBI expected to leave policy unchanged at Wednesday's meeting while maintaining neutral policy bias. Some thought tariff tensions could prompt dovish shift in commentary, particularly with inflation below RBI's forecasts. Elsewhere, New Zealand employment shrunk in-line with forecasts but jobless rate rose by less than expected. Still, market impact muted with data seen paving way for RBNZ to cut OCR by 25 bp at August's meeting. Japan wage growth remained soft with real wages shrinking by more than expected..
Pre-open Company News:
603501.CH -- Street Takeaways - OmniVision Integrated Circuits Group H1 guidance
540596.IN -- Follow-up: Eris Lifesciences reports Q1 EBITDA INR2.77B vs FactSet INR2.89B [9 est, INR2.71-3.29B]
532921.IN -- Adani Ports & Special Economic Zone reports Q1 consolidated net income attributable INR33.15B vs StreetAccount INR29.22B
601880.CH -- Liaoning Port initiated overweight at China Merchants Securities (timing uncertain)
603456.CH -- Zhejiang Jiuzhou Pharmaceutical reports H1 net income attributable CNY525.8M, +11% vs year-ago CNY475.0M
500547.IN -- StreetAccount Consensus Metrics Preview - Bharat Petroleum Q1 Earnings
543940.IN -- Jio Financial Services releases sustainability report
2508.HK -- Saint Bella initiated buy at Huatai Securities (timing uncertain)
532921.IN -- Follow-up: Adani Ports & Special Economic Zone reports Q1 consolidated EBITDA INR54.95B vs StreetAccount INR50.24B
600958.CH -- Orient Securities completes up to CNY500M share buyback announced on 6-May
540073.IN -- BLS International Services reports Q1 consolidated EPS INR4.15 vs year-ago INR2.77
2633.TT -- Taiwan High Speed Rail reports July revenue NT$4.39B, +3.4% y/y
542812.IN -- Gujarat Fluorochemicals reports Q1 consolidated EPS INR16.75 vs FactSet INR14.24 [5 est, INR11.60-16.60]
6699.HK -- Angelalign Technology guides H1 net income $13.4-14.8M vs year-ago $2.1M
532555.IN -- NTPC Green Energy unit emerges as successful bidder for 70K MTPA green ammonia
On Deck:
Hong Kong:
Earnings:
Uni-President China Holdings (220.HK), Cathay Pacific Airways (293.HK)
Japan:
Earnings:
Kajima (1812.JP), M3 (2413.JP), Hakuhodo DY Holdings (2433.JP), Kao (4452.JP), PeptiDream (4587.JP), FUJIFILM (4901.JP), Shiseido (4911.JP), Rakuten Bank (5838.JP), Brother Industries (6448.JP), Sysmex (6869.JP), Honda Motor (7267.JP), Inabata & Co. (8098.JP), NTT, Inc. (9432.JP), Daiwa House Industry (1925.JP), NIPPN Corp. (2001.JP), Ezaki Glico (2206.JP), Meiji (2269.JP), Kakaku.com (2371.JP), Alfresa Holdings (2784.JP), Gunze Ltd (3002.JP), TOKAI Holdings (3167.JP), Tokyu Fudosan (3289.JP), Food & Life Companies (3563.JP), TOKYO OHKA KOGYO (4186.JP), NOF Corp (4403.JP), JMDC Inc (4483.JP), Rohto Pharmaceutical Co. (4527.JP), Pola Orbis Holdings (4927.JP), Fujimi (5384.JP), Yodogawa Steel Works (5451.JP), UACJ Corp (5741.JP), NHK Spring (5991.JP), TAKUMA (6013.JP), TechnoPro Holdings (6028.JP), Kurita Water Industries (6370.JP), THK CO. (6481.JP), Toshiba Tec (6588.JP), Shibaura Mechatronics (6590.JP), OMRON (6645.JP), Oki Electric Industry Co. (6703.JP), Sony (6758.JP), Nihon Kohden (6849.JP), MITSUI E&S (7003.JP), Kawasaki Heavy Industries (7012.JP), IHI (7013.JP), Mebuki Financial Group (7167.JP), Tachi-S (7239.JP), Mitsubishi Shokuhin (7451.JP), GOLDWIN (8111.JP), The Bank of Nagoya (8522.JP), Keikyu (9006.JP), Keio Corp (9008.JP), Fuji Kyuko (9010.JP), TV Asahi Holdings (9409.JP), SKY Perfect JSAT Holdings (9412.JP), Japan Airport Terminal (9706.JP)
South Korea:
Earnings:
Kakao Games (293490.KS), KakaoBank (323410.KS), Korea Zinc Co. (010130.KS), SK Telecom (017670.KS), S.M. Entertainment (041510.KS), Hyundai Department Store (069960.KS), Hugel (145020.KS), HYBE Co. (352820.KS), Mirae Asset Securities Co. (006800.KS), Kakao (035720.KS)
Australia:
Earnings:
Centuria Industrial REIT (CIP.AU), AMP (AMP.AU)
India:
Earnings:
Bharat Heavy Electricals (500103.IN), Trent Ltd (500251.IN), Bajaj Holdings & Investment (500490.IN), Bayer CropScience (506285.IN), Divi's Laboratories (532488.IN), Uno Minda (532539.IN), PVR INOX (532689.IN), Power Finance (532810.IN), K.P.R. Mill (532889.IN), Bajaj Auto (532977.IN), Housing & Urban Development (540530.IN), IRCON International (541956.IN), Blue Star (500067.IN), E.I.D.-Parry (India) (500125.IN), Hero MotoCorp (500182.IN), Raymond (500330.IN), Pidilite Industries (500331.IN), Gujarat Narmada Valley Fertilizers & Chemicals (500670.IN), V.I.P. Industries (507880.IN), Cera Sanitaryware (532443.IN), Jindal Stainless (532508.IN), Fortis Healthcare (532843.IN), RITES Ltd (541556.IN), Prince Pipes & Fittings (542907.IN), Krishna Institute of Medical Sciences (543308.IN), Raymond Lifestyle (544240.IN)
Singapore:
Earnings:
Parkway Life REIT (C2PU.SP), DBS Group Holdings (D05.SP), Acrophyte Hospitality Trust (XZL.SP)
Taiwan:
Economic:
16:00 TST: CPI NSA Y/Y; consensus +1.6%
Earnings:
Chicony Electronics (2385.TT), HTC Corp (2498.TT), WT Microelectronics (3036.TT), Far EasTone Telecommunications (4904.TT), Nan Ya Printed Circuit Board (8046.TT), Nien Made Enterprise Co. (8464.TT)
Thailand:
Economic:
07:00 SAST: CPI NSA Y/Y; consensus (0.4%)
Earnings:
Advanced Info Service Public (ADVANC.TB), BCPG Public (BCPG.TB)
Market Data:
Gold (Dec 25): +$1.50 or +0.04% to $3436.20
WTI Crude (Sep 25): +$0.14 or +0.21% to $65.30
$-¥: +0.54 or +0.37% to 147.6290
$-KRW: +2.17 or +0.16% to 1387.6200
A$-$: +0.00 or +0.08% to 0.6473
$-INR: (0.19) or (0.22%) to 87.7231
$-CNY: +0.00 or +0.06% to 7.1831
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