Jun 11 ,2026
Synopsis:
Asian markets set for negative start to Thursday trade. Futures signaling steep opening declines in Japan and South Korea. Hong Kong tracking for flat open while Australia set for early drop. S&P 500 futures extending losses afterhours. Australian yields up 1-2 bp, tracking earlier move in Treasuries. Crude rallying on renewed Middle East hostilities. Gold and silver under pressure. FX markets steady. Bitcoin back down towards Oct-2024 lows.
Middle East tensions ratcheting higher with US mounting another wave strikes against Iran on Wednesday, targeting air defense systems, radars and drone command and control units. In phone call with Fox News, Trump said bombing would stop shortly and claimed Iran asked him to stop strikes. Comes after Trump accused Tehran of stringing US along in negotiations. Renewed fighting has driven crude higher with IRGC also declaring Strait of Hormuz fully closed.
Asian indexes bracing for more volatility in AI trade with US semis/memory names sharply lower (SOX down almost 4%). Nothing specific behind the selling, which has been attributed to various factors including unwinding of crowded (and leveraged) longs, mechanical selling, extreme concentration, Iran conflict escalation, and renewed backup in yields reinforced by pickup in inflation concerns. Kospi has sustained four straight sessions of moves of more than 4%.
Pre-open Company News:
100.HK -- MiniMax Group initiated buy at CMB International
002385.CH -- Beijing Dabeinong Technology Group reports May pig sales volume 337K, +12.8% y/y
590.HK -- Luk Fook Holdings (International) guides FY profit +80-90% y/y vs FactSet HK$1.63B [7 est, HK$1.50-1.72B]
2201.TT -- Yulon Motor reports May revenue NT$5.72B, (3.0%) y/y
1795.TT -- Lotus Pharmaceutical reports May revenue NT$2.32B, +105.8% y/y
1628.HK -- Yuzhou Group Holdings reports May sales CNY470M; StreetAccount notes the year-ago figure was CNY621M
1024.HK -- Kuaishou Technology upgraded to overweight from neutral at JPMorgan
4938.TT -- Pegatron reports May revenue NT$95.96B, +12.0% y/y
AAUC.CN -- Allied Gold provides business update
2912.TT -- President Chain Store reports May revenue NT$31.64B, +5.3% y/y
3355.HK -- FS.COM launches up to HK$350M share buyback program under mandate
544606.IN -- Pine Labs completes Shopflo acquisition
500440.IN -- Hindalco's Novelis confirms resumption of Oswego Hot Mill
6762.JP -- TDK to acquire Fabric8Labs for up to $400M (¥64.16B) in cash
On Deck:
China:
Economic:
08:00 CST: New Yuan Loans; consensus
Hong Kong:
Earnings:
Chow Tai Fook Jewellery Group (1929.HK)
Japan:
Earnings:
Visional (4194.JP)
South Korea:
Economic:
08:00 KST: Unemployment Rate; consensus 2.7%
Australia:
Economic:
11:00 AEST: Consumer Inflation Expectation; consensus
Market Data:
Gold (Aug 26): ($49.20) or (1.19%) to $4084.10
WTI Crude (Jul 26): +$2.69 or +2.99% to $92.72
$-¥: +0.17 or +0.10% to 160.5290
$-KRW: (1.13) or (0.07%) to 1521.8000
A$-$: (0.00) or (0.50%) to 0.6994
$-INR: +0.23 or +0.24% to 95.6441
$-CNY: (0.00) or (0.01%) to 6.7718
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