Aug 06 ,2025
Synopsis:
Asian markets set for mixed start to Thursday trade. Futures signalling opening gain in Hong Kong, negative start in Australia and flat open in Japan. S&P 500 futures higher afterhours. Australian bonds strengthening after Treasuries ended mixed with curve steepening. FX markets steady after dollar sustained broad declines. Crude nursing more losses following fifth straight down day. Gold flat. Bitcoin remains range bound.
Asian bourses to take positive lead from US markets, where AAPL-led rally in tech drove market upside following its latest US investment pledge. AI secular growth theme remains driver of tech outperformance. Market also looked through latest tariff announcements with AAPL a notable exclusion from Trump's chip tariff threat. Week has brought a pickup in concerns about weakening US economic momentum though more Fed officials leaning dovish in their remarks with market now pricing in at least two rate cuts in 2025.
Trump tariff announcements continue to roll through after he imposed additional 25% rate on India over its purchases of Russian crude (taking total tariff to 50%). Also did not rule out secondary sanctions on China over its Russian crude buys. Trump to impose 100% tariff on semiconductors but exclude companies building in US or have made investment commitments. Meanwhile, Trump's reciprocal tariffs go into effect later Thursday, including 15% rates on Japan and South Korea. However, still no clarity on when auto tariffs will reduce to 15% from 25%.
Japan 30Y bond auction scheduled Thursday afternoon, marking latest test of appetite for longer-dated securities. Prior month's long-dated auctions drew mixed response with 30Y sale seeing stronger bid-cover but 40Y auction meeting with weakest demand since 2011. This week's 10Y auction also saw soft demand. Deficit concerns continue to linger amid political calls for more fiscal support. PM Ishiba this week said government ready to compile extra budget to cushion economic blow from US tariffs.
Pre-open Company News:
7270.JP -- StreetAccount Consensus Metrics Preview - Subaru Q1 Earnings
532689.IN -- PVR INOX reports Q1 consolidated EPS (INR5.51) vs FactSet (INR8.75) [2 est, (INR10.90)-(6.60)]
500125.IN -- E.I.D.-Parry (India) reports Q1 standalone net income (INR279.2M) vs year-ago (INR785.9M)
3034.TT -- Novatek Microelectronics guides Q3 revenue NT$23.7-24.7B vs FactSet NT$28.77B [17 est, NT$26.18-32.70B]
3397.JP -- TORIDOLL Holdings reports July existing store sales +6.2% y/y
8046.TT -- Nan Ya Printed Circuit Board promotes VP Liang-Rey Lu as acting president, effective 6-Aug
002938.CH -- Avary Holding (Shenzhen) reports July consolidated revenue CNY3.00B, +12.3% y/y
8046.TT -- Nan Ya Printed Circuit Board reports Q2 EPS (NT$0.29) vs FactSet NT$0.19 [10 est, (NT$0.10)-0.74]
002385.CH -- Beijing Dabeinong Technology Group reports July pig sales volume 594K vs year-ago 466K
220.HK -- Uni-President China Holdings reports H1 net income attributable CNY1.29B vs StreetAccount CNY1.20B
119.HK -- Poly Property Group reports July contracted sales CNY2.8B; StreetAccount notes the year-ago figure was CNY5.6B
81.HK -- China Overseas Grand Oceans Group reports July contracted sales CNY2.04B, (8.6%) y/y
9857.HK -- Linmon Media guides H1 adjusted net income CNY13-15.0M vs year-ago (CNY49.4M)
2498.TT -- HTC Corp reports Q2 EPS (NT$0.85) vs FactSet (NT$0.47) [1 est]
7516.JP -- Kohnan Shoji reports July existing store sales (0.8%) y/y
On Deck:
China:
Economic:
08:00 CST: Trade Balance NSA; consensus +$100.7B
08:00 CST: Export Y/Y; consensus +4.6%
08:00 CST: Import Y/Y; consensus +0.3%
16:00 CST: FX Reserves; consensus
Hong Kong:
Earnings:
Hua Hong Semiconductor (1347.HK), Swire Pacific (19.HK), China Mobile (941.HK), Wharf Real Estate Investment (1997.HK), Lee & Man Paper Manufacturing (2314.HK), Asia Cement (China) Holdings (743.HK), SMIC (981.HK)
Japan:
Economic:
08:50 JST: FX Reserves M/M; consensus
14:00 JST: Leading Index (Preliminary); consensus
Earnings:
Sony (6758.JP), Sumitomo Forestry (1911.JP), DeNA Co. (2432.JP), Sapporo Holdings (2501.JP), Kirin (2503.JP), Resonac Holdings (4004.JP), Mitsubishi Gas Chemical (4182.JP), Terumo (4543.JP), Trend Micro (4704.JP), Sumitomo Rubber Industries (5110.JP), Noritake (5331.JP), Kobe Steel (5406.JP), Sumitomo Metal Mining (5713.JP), Lasertec (6920.JP), Hamamatsu Photonics KK (6965.JP), Toyota Motor (7203.JP), Subaru (7270.JP), Nikon Corp (7731.JP), Ricoh Co. (7752.JP), ORIX (8591.JP), Tokio Marine Holdings (8766.JP), Mitsubishi Estate (8802.JP), KATITAS (8919.JP), TBS Holdings (9401.JP), Kadokawa (9468.JP), SoftBank Group (9984.JP), Japan Petroleum Exploration (1662.JP), Hazama Ando (1719.JP), COMSYS Holdings (1721.JP), HASEKO (1808.JP), Totetsu Kogyo Co. (1835.JP), Penta-Ocean Construction (1893.JP), JGC Holdings (1963.JP), Morinaga & Co. (2201.JP), Asahi Group Holdings (2502.JP), Suntory Beverage & Food (2587.JP), The Nisshin OilliO Group (2602.JP), Toyobo (3101.JP), SUMCO (3436.JP), Internet Initiative Japan (3774.JP), Air Water (4088.JP), Nihon Parkerizing (4095.JP), Nippon Shokubai (4114.JP), Mitsui Chemicals (4183.JP), Nippon Shinyaku (4516.JP), Kaken Pharmaceutical (4521.JP), Santen Pharmaceutical (4536.JP), Towa Pharmaceutical (4553.JP), Sakata Inx (4633.JP), Duskin (4665.JP), Digital Garage (4819.JP), en Japan (4849.JP), Lion Corp. (4912.JP), KOSE Corp (4922.JP), JCU Corp. (4975.JP), Cosmo Energy Holdings (5021.JP), Taiheiyo Cement (5233.JP), Tokai Carbon (5301.JP), Toyo Tanso (5310.JP), NICHIAS (5393.JP), Maruichi Steel Tube (5463.JP), Pacific Metals (5541.JP), Mitsubishi Materials (5711.JP), OSAKA Titanium Technologies (5726.JP), Furukawa Electric Co. (5801.JP), Fujikura (5803.JP), Shizuoka Financial Group (5831.JP), Miura Co. (6005.JP), AMADA Co. (6113.JP), Towa Corp (6315.JP), Daifuku (6383.JP), Sankyo (6417.JP), FUKUSHIMA GALILEI CO. (6420.JP), Glory Ltd (6457.JP), Sinko Industries (6458.JP), HOSHIZAKI (6465.JP), PHC Holdings (6523.JP), Kokusai Electric (6525.JP), IDEC Corp (6652.JP), Horiba (6856.JP), Namura Shipbuilding (7014.JP), Kyushu Financial Group (7180.JP), Isuzu Motors (7202.JP), Kyokuto Kaihatsu Kogyo (7226.JP), KYB Corp (7242.JP), Daiichikosho (7458.JP), Riken Keiki (7734.JP), Tamron (7740.JP), Furuya Metal (7826.JP), Pilot Corp (7846.JP), Fuji Seal International (7864.JP), Pigeon (7956.JP), LINTEC (7966.JP), Mizuno (8022.JP), Hanwa Co. (8078.JP), SAN-AI OBBLI (8097.JP), Sangetsu (8130.JP), Kaga Electronics (8154.JP), K's Holdings (8282.JP), Fukuoka Financial Group (8354.JP), Suruga Bank (8358.JP), Japan Securities Finance (8511.JP), JACCS Co. (8584.JP), Monex Group (8698.JP), Sumitomo Realty & Development (8830.JP), Relo Group (8876.JP), Tokyu Corp (9005.JP), Nishi-Nippon Railroad (9031.JP), Keihan Holdings (9045.JP), Nagoya Railroad (9048.JP), Seino Holdings (9076.JP), Renova (9519.JP), Yamada Holdings (9831.JP), Nitori Holdings (9843.JP)
South Korea:
Earnings:
Kakao (035720.KS), CJ Logistics (000120.KS), KT&G Corp (033780.KS), Korea District Heating (071320.KS), Netmarble (251270.KS), Studio Dragon (253450.KS), Lotte Shopping Co. (023530.KS), NAVER (035420.KS), LIG Nex1 (079550.KS), Kolmar Korea (161890.KS)
Australia:
Economic:
11:30 AEST: Trade Balance on Goods; consensus
Earnings:
AMP (AMP.AU), Nick Scali (NCK.AU), QBE Insurance Group (QBE.AU)
New Zealand:
Economic:
15:00 NZST: Inflation Expectations Y/Y; consensus
India:
Earnings:
Prism Johnson (500338.IN), MMTC Ltd (513377.IN), NLC India (513683.IN), 3M India (523395.IN), Linde India (523457.IN), Caplin Point Laboratories (524742.IN), Birlasoft (532400.IN), Godrej Consumer Products (532424.IN), Sun TV Network (532733.IN), Kalyan Jewellers India (543278.IN), C.E. Info Systems (543425.IN), The Ramco Cements (500260.IN), Shree Renuka Sugars (532670.IN), Hindustan Petroleum (500104.IN), Max Financial Services (500271.IN), Cummins India (500480.IN), Gujarat State Fertilizers & Chemicals (500690.IN), Apollo Tyres (500877.IN), Carborundum Universal (513375.IN), Kalpataru Projects International (522287.IN), KRBL Ltd (530813.IN), National Aluminium (532234.IN), Biocon (532523.IN), Century Plyboards (India) (532548.IN), Solar Industries India (532725.IN), Schneider Electric Infrastructure (534139.IN), NBCC (India) (534309.IN), General Insurance Corporation of India (540755.IN), Metropolis Healthcare (542650.IN), Indigo Paints (543258.IN), Metro Brands (543426.IN), Data Patterns (India) (543428.IN), Global Health Ltd. (India) (543654.IN), SignatureGlobal (India) (543990.IN), Aegis Vopak Terminals Ltd. (544407.IN)
Singapore:
Earnings:
DBS Group Holdings (D05.SP), United Overseas Bank Ltd. (Singapore) (U11.SP), Singapore Exchange (S68.SP), Genting Singapore (G13.SP), Singapore Land Group (U06.SP), IREIT Global (UD1U.SP)
Taiwan:
Earnings:
Uni-President Enterprises (1216.TT), Eclat Textile Co. (1476.TT), Accton Technology (2345.TT), Synnex Technology International (2347.TT), Acer Inc (2353.TT), Foxconn Technology (2354.TT), Gold Circuit Electronics (2368.TT), Tripod Technology (3044.TT), Parade Technologies (4966.TT), Asmedia Technology (5269.TT), Voltronic Power Technology (6409.TT)
Thailand:
Earnings:
CP Axtra Public (CPAXT.TB)
Philippines:
Economic:
10:05 SST: GDP NSA Y/Y; consensus +5.3%
Market Data:
Gold (Dec 25): ($0.50) or (0.01%) to $3432.90
WTI Crude (Sep 25): +$0.02 or +0.03% to $64.37
$-¥: (0.41) or (0.28%) to 147.1950
$-KRW: (2.40) or (0.17%) to 1384.3900
A$-$: +0.00 or +0.44% to 0.6501
$-INR: (0.06) or (0.07%) to 87.7625
$-CNY: (0.00) or (0.03%) to 7.1816
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