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StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.36%), Hang Seng Futures +1.24%, ASX SPI 200 (0.28%), S&P Futures +0.22%

Aug 31 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Monday trade. Futures signaling opening declines in Japan and Australia, and positive start in Hong Kong. S&P 500 futures trading higher following negative Friday session (US markets closed Monday for Labor Day holiday). Australian bonds weakening, tracking Friday's Treasury curve bear steepening. FX price action muted with dollar little changed on major crosses. Gold steady near record high. Crude little changed. Bitcoin flat near early July lows.

    • On Friday, US appeals court upheld CIT decision in May that ruled Trump's reciprocal tariffs were illegal. However, court left tariffs in place with case expected to reach Supreme Court. Media reports have in recent days noted Trump administration looking to broaden Section 232 tariffs in coming months as a backstop against an unfavorable court ruling on reciprocal tariffs. USTR Greer also played down ramifications, noting administration still in talks with trading partners despite court ruling.

    • In other trade headlines, Nikkei sources noted Japan's strong objection to Trump administration's demand that Tokyo commit to more US rice purchases was reason behind last week's scuttled talks on $550B investment commitment. Commerce Department revoked waivers for Samsung Electronics (~005930.KS~) and SK Hynix (~000660.KS~) allowing them to ship chipmaking equipment to China. US International Trade Commission authorized investigation into solar imports from India, Laos and Indonesia that could pave way for tariffs.

    • China official PMIs showed manufacturing stuck in contraction with details showing production logged slightly stronger growth while declines in new orders and exports eased marginally. Non-manufacturing activity lifted on the back of services. Comes ahead of RatingDog (formerly Caixin) China manufacturing PMI that is expected to show minor improvement in factory activity. Meanwhile, private figures showed China home sales shrunk for a sixth consecutive month, though pace of decline slowed.

    • In corporate news, Alibaba (~9988.HK~) US ADRs rose 13% Friday following bigger-than-expected rise in cloud revenue growth, helping to overshadow recent concerns about impact on profitability from intense price competition in food delivery sector. On geopolitical front, China President Xi and Inda PM Modi pledged to deepen ties at Shanghai Cooperation Organization (SCO) summit on Sunday. Meeting came amid strained US-India relations with two sides no closer to resolving their trade dispute.

  • Pre-open Company News:

    • 1347.HK -- Hua Hong Semiconductor to acquire 97.5% interests in Shanghai Huali Microelectronics through placement to connected parties

    • 1274.HK -- iMotion Automotive Technology reports H1 net income attributable (CNY177.9M) vs year-ago (CNY98.6M)

    • 2410.HK -- TYK Medicines reports H1 net income attributable (CNY112.2M) vs year-ago (CNY219.1M)

    • 697.HK -- Shoucheng Holdings reports H1 net income attributable HK$339.0M, +30% vs year-ago HK$260.6M

    • 6960.HK -- Shuangdeng Group reports H1 net income attributable CNY160.6M, (3%) vs year-ago CNY165.0M

    • 1628.HK -- Yuzhou Group Holdings reports H1 net income attributable (CNY5.63B) vs guidance (CNY5.00-6.00B) and year-ago (CNY6.36B)

    • 2582.HK -- Jiangsu Guofu Hydrogen Energy Equipment to place up to 1.73M shares at HK$54.03/share

    • 1341.HK -- Hao Tian International Construction subsidiary plans to apply for virtue asset dealing license

    • 532181.IN -- Gujarat Mineral Development publishes Business Responsibility and Sustainability Report for FY2024-25

    • BS6.SP -- Yangzijiang Shipbuilding (Holdings) initiated buy at Goldman Sachs

    • 2344.TT -- Winbond Electronics upgraded to buy from neutral at BofA

    • TTB.TB -- TMBThanachart Bank Public Co. downgraded to neutral from overweight at JPMorgan

    • 500093.IN -- CG Power & Industrial Solutions initiated overweight at Morgan Stanley

    • 002600.CH -- Lingyi iTech (Guangdong) downgraded to hold from buy at Jefferies

    • 6888.MK -- Axiata Group downgraded to hold from buy at CIMB Securities

  • On Deck:

    • Japan:

      • Earnings:

        • ITO EN (2593.JP)

    • South Korea:

      • Economic:

        • 11:00 KST: Trade Balance NSA; consensus +$5.7B

        • 11:00 KST: Export NSA Y/Y; consensus +2.1%

        • 11:00 KST: Import NSA Y/Y; consensus +0.3%

    • Australia:

      • Economic:

        • 11:30 AEST: Building Approvals SA M/M; consensus

    • Indonesia:

      • Economic:

        • 11:00 SAST: CPI NSA Y/Y; consensus +2.5%

  • Market Data:

    • Gold (Dec 25): ($4.50) or (0.13%) to $3511.60

    • WTI Crude (Oct 25): ($0.09) or (0.14%) to $63.92

    • $-¥: +0.10 or +0.07% to 147.1500

    • $-KRW: (0.13) or (0.01%) to 1388.8400

    • A$-$: +0.00 or +0.03% to 0.6542

    • $-INR: +0.01 or +0.01% to 88.1743

    • $-CNY: (0.00) or (0.01%) to 7.1298

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