Aug 26 ,2025
Synopsis:
Asian markets set for positive start to Wednesday trade. Futures signaling opening gains in Japan, Australia and Hong Kong. S&P 500 futures little changed following mostly positive Tuesday session. Australian yield curve steepening, mirroring Treasury price action overnight. Dollar steady on major crosses after recouping initial losses on Cook developments. Crude inching above lows while gold steady near earlier highs. Bitcoin drifting up from early July lows.
President Trump's move to fire Fed Governor Cook continues to lead press discussion though initial market fallout was limited with Treasury yields seeing marginal moves in either direction while dollar was little changed. Sell-side takeaways highlighted potential for further curve steepening and dollar weakness from White House encroachment on Fed independence. Contrarian views argued Cook's ouster was expected and market had already been fully pricing in two rate cuts in 2025. Also noted investors have been rewarded for ignoring Trump administration noise this year.
Nvidia (~NVDA~) reports after US market close on Wednesday, with results coming against backdrop of elevated valuations. Previews fairly uniform in terms of expectation for a Q2 beat as Blackwell ramp progresses. Spotlight will be on extent of guidance beat amid continued strong AI demand and hyperscaler capex raises. China commentary a focus with company reportedly telling suppliers to halt production related to H20 chips, coming amid Beijing push to encourage adoption of domestic alternatives. Some interest also on any details surrounding 15% US government revenue cut.
Pre-open Company News:
2267.JP -- Yakult Honsha reports July domestic sales volume of Yakult series (8.3%) y/y
603605.CH -- Proya Cosmetics reports Q2 operational data
002065.CH -- DHC Software reports H1 net income attributable CNY243.8M, (16%) vs year-ago CNY289.4M
603605.CH -- Proya Cosmetics plans to launch HK IPO
544277.IN -- Waaree Energies unit Waaree Solar Americas receives 452MW solar modules order from international entity
600497.CH -- Yunnan Chihong Zinc & Germanium reports H1 net income attributable CNY932.3M, +3% vs year-ago CNY902.8M
603605.CH -- Proya Cosmetics reports H1 net income attributable CNY798.5M, +14% vs year-ago CNY701.7M
600032.CH -- Zhejiang Provincial New Energy Investment Group reports H1 net income attributable CNY291.7M, (35%) vs year-ago CNY446.3M
688578.CH -- Shanghai Allist Pharmaceuticals reports H1 net income attributable CNY1.05B, +60% vs year-ago CNY656.1M
909.HK -- Ming Yuan Cloud Group Holdings reports H1 adjusted net income CNY33.1M vs year-ago (CNY17.0M)
817.HK -- China Jinmao Holdings Group reports H1 net income attributable CNY1.09B, +8% vs year-ago CNY1.01B
2567.HK -- Qiniu Ltd. reports H1 net income attributable (CNY33.4M) vs year-ago (CNY179.6M)
123.HK -- Yuexiu Property reports H1 net income attributable CNY1.37B, (25%) vs year-ago CNY1.83B
600977.CH -- China Film Group reports H1 net income attributable (CNY110.4M) vs guidance (CNY120.0-80.0M)
On Deck:
China:
Earnings:
Wanxiang Qianchao (000559.CH), Jiangling Motors (200550.CH)
Hong Kong:
Earnings:
Clover Biopharmaceuticals (2197.HK), China Resources Land (1109.HK), Shenzhen International Holdings (152.HK), Ausnutria Dairy (1717.HK), Innovent Biologics (1801.HK), ANTA Sports Products (2020.HK), China Shineway Pharmaceutical Group (2877.HK), China Oriental Group (581.HK), China Overseas Land & Investment (688.HK), CALB Group Co. (3931.HK), Genor Biopharma Holdings (6998.HK), ClouDr (9955.HK), Shandong Weigao Group Medical Polymer (1066.HK), Hong Kong Technology Venture (1137.HK), Chow Sang Sang Holdings International (116.HK), Shandong Hi-Speed New Energy Group (1250.HK), China MeiDong Auto Holdings (1268.HK), Breton Technology (1333.HK), China Cinda Asset Management (1359.HK), Guotai Junan International Holdings (1788.HK), AK Medical Holdings (1789.HK), China Aircraft Leasing Group Holdings (1848.HK), MIXUE Group (2097.HK), JW (Cayman) Therapeutics (2126.HK), Yonghe Medical Group (2279.HK), Shenzhou International Group Holdings (2313.HK), China Mengniu Dairy (2319.HK), Giant Biogene Holding (2367.HK), VISEN Pharmaceuticals (2561.HK), Genertec Universal Medical Group (2666.HK), ENN Energy Holdings (2688.HK), Zhongliang Holdings Group (2772.HK), CMGE Technology Group (302.HK), Logan Group (3380.HK), Beijing Enterprises Water Group (371.HK), Sinotruk Hong Kong (3808.HK), KWG Living Group Holdings (3913.HK), Midea Real Estate Holding (3990.HK), China Conch Venture Holdings (586.HK), AIM Vaccine (6660.HK), China East Education Holdings (667.HK), Shandong Boan Biotechnology (6955.HK), Truly International Holdings (732.HK), Xinhua Winshare Publishing & Media (811.HK), Shimao Group Holdings (813.HK), Sino Land (83.HK), Digital China Holdings (861.HK), Shimao Services Holdings (873.HK), Trip.com Group (9961.HK)
Australia:
Earnings:
Tabcorp Holdings (TAH.AU), Adairs (ADH.AU), Bathurst Resources (BRL.AU), COG Financial Services (COG.AU), DroneShield (DRO.AU), EML Payments (EML.AU), Emerald Resources (EMR.AU), Fenix Resources (FEX.AU), Kina Securities (KSL.AU), Mach7 Technologies (M7T.AU), McPherson's (MCP.AU), Neuren Pharmaceuticals (NEU.AU), PlaySide Studios (PLY.AU), ReadyTech Holdings (RDY.AU), RAM Essential Services Property Fund (REP.AU), Silex Systems (SLX.AU), Worley (WOR.AU), Woolworths Group (WOW.AU), WiseTech Global (WTC.AU), Bapcor (BAP.AU), Dicker Data (DDR.AU), Omni Bridgeway (OBL.AU), Ramsay Health Care (RHC.AU), Australian Ethical Investment (AEF.AU), Atlas Arteria (ALX.AU), Eagers Automotive (APE.AU), betr Entertainment (BBT.AU), Beacon Lighting Group (BLX.AU), City Chic Collective (CCX.AU), ClearView Wealth (CVW.AU), Generation Development Group (GDG.AU), Gemlife Communities Group (GLF.AU), GenusPlus Group (GNP.AU), Horizon Oil (HZN.AU), Infragreen Group (IFN.AU), IGO Limited (IGO.AU), Macquarie Technology Group (MAQ.AU), Mineral Resources (MIN.AU), Medibank Private (MPL.AU), Nido Education (NDO.AU), Nickel Industries (NIC.AU), NextEd Group (NXD.AU), Paladin Energy (PDN.AU), Perpetual (PPT.AU), Platinum Asset Management (PTM.AU), Resimac Group (RMC.AU), Shine Justice (SHJ.AU), Smartgroup (SIQ.AU), Solvar (SVR.AU), TPG Telecom (TPG.AU), Trajan Group Holdings (TRJ.AU), Wesfarmers (WES.AU)
New Zealand:
Earnings:
Air New Zealand (AIR.NZ)
Market Data:
Gold (Dec 25): +$8.20 or +0.24% to $3441.20
WTI Crude (Oct 25): +$0.21 or +0.33% to $63.46
$-¥: (0.31) or (0.21%) to 147.4650
$-KRW: +3.37 or +0.24% to 1393.9500
A$-$: +0.00 or +0.19% to 0.6495
$-INR: +0.06 or +0.06% to 87.6388
$-CNY: +0.00 or +0.01% to 7.1519
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