Sep 08 ,2025
Synopsis:
Asian markets set for mixed start to Tuesday trade. Futures signaling opening gains in Japan and Hong Kong, and negative start in Australia. S&P 500 futures flat afterhours. Australian bonds strengthening, taking cues from Treasury curve bull flattening. Dollar weakening slightly against yen, steady elsewhere. Crude remains higher following modest OPEC+ production hike. Gold little changed. Bitcoin continues to fluctuate.
Quiet offshore session where focus remains on an expected Fed rate cut next week. Upcoming August CPI expected to show unchanged core inflation that leaves Fed on track to ease by 25 bp. Monday's other talking points involved fresh trade uncertainty (US-EU trade deal under threat, China unwilling to offer meaningful concessions, US raid of Hyundai plant, India wariness despite Trump softening his tone), backup in yields/supply pressures, political turmoil, and Fed independence risk.
Following Japan PM Ishiba's resignation announcement, attention has quickly turned to his successor with candidates readying their bids. Press highlighted economic challenges that will confront next leader with inflation an immediate concern as opposition parties maintain push for cost-of-living relief. Monday's backup in longer-dated JGB yields and rally in equities was attributed in part to expectations of fiscal support, while strength at the front-end of the curve corresponded with dialing back of BOJ rate hike expectations.
In other developments, Indonesia markets face fresh political uncertainty following sudden decision by President Prabowo to replace finance minister. Rumors of his exit was attributed for Monday's equity market pullback. Fallout continues from US detention of Korean workers at Hyundai plant in Georgia with press discussions focused on implications for investment risk. In company news, BYD (1211.HK) touted European expansion plans at Munich auto show. ANZ Bank (ANZ.AU) announced ~-8% cut to its workforce.
Pre-open Company News:
517334.IN -- Street Takeaways - Samvardhana Motherson International Investor Day
3037.TT -- Unimicron Technology reports August revenue NT$11.36B, +4.9% y/y
2105.TT -- Cheng Shin Rubber Ind. reports August revenue NT$7.97B, (8.9%) y/y
2884.TT -- E.SUN Financial Holding reports August PBT NT$3.52B; StreetAccount notes the year-ago figure was NT$3.61B
688563.CH -- Baimtec Material GM Yan Yue resigns due to work arrangements, effective immediately
500228.IN -- JSW Steel reports August consolidated crude steel production 2.7M tonnes vs year-ago 2.3M tonnes
1414.JP -- SHO-BOND Holdings downgraded to neutral from buy at Nomura
3533.TT -- Lotes Co. reports August revenue NT$2.67B, (1.8%) y/y
CPCA issues August China national passenger vehicle market analysis
1238.HK -- Powerlong Real Estate Holdings reports August contracted sales CNY602M; StreetAccount notes year-ago CNY634M
388.HK -- Hong Kong Exchanges & Clearing August activity
2353.TT -- Acer Inc reports August revenue NT$21.80B, (4.5%) y/y
601155.CH -- Seazen Holdings reports August contracted sales CNY1.58B; StreetAccount notes the year-ago figure was CNY2.50B
2607.HK -- Shanghai Pharmaceuticals Holding completes acquisition of additional 10% stake in Shanghai Industrial Investment Group Finance
600418.CH -- Anhui Jianghuai Automobile Group reports August vehicle production 27,601 units vs year-ago 35,946 units
On Deck:
China:
Economic:
08:00 CST: M2 NSA Y/Y; consensus
08:00 CST: New Yuan Loans; consensus
08:00 CST: Loan Growth Y/Y; consensus
Japan:
Earnings:
Mitsui High-tec (6966.JP)
Australia:
Economic:
11:30 AEST: NAB Business Confidence; consensus
Taiwan:
Economic:
16:00 TST: Export NSA Y/Y; consensus +29.8%
Market Data:
Gold (Dec 25): ($5.10) or (0.14%) to $3672.30
WTI Crude (Oct 25): +$0.21 or +0.34% to $62.47
$-¥: (0.10) or (0.07%) to 147.3010
$-KRW: (0.87) or (0.06%) to 1385.7200
A$-$: +0.00 or +0.62% to 0.6598
$-INR: (0.22) or (0.25%) to 87.9806
$-CNY: (0.00) or (0.03%) to 7.1289
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