Sep 15 ,2025
Synopsis:
Asian markets set for mixed start to Tuesday trade. Futures signaling opening gains in Australia and Hong Kong, and mild declines in Japan. S&P 500 futures flat after index finished higher in Monday trade. Australian yield curve bull flattening after Treasuries firmed. FX markets steady following another directionless session. Crude and gold flat following mild gains in cash session. Bitcoin fluctuating after retreating from three-week high.
US and China concluded talks in Madrid, agreeing to framework deal on TikTok ownership. Trump said meeting went well and he will be speaking to President Xi on Friday. Talks occurred against backdrop of tensions after China accused NVDA of violating anti-monopoly laws and launched probe into US analog chips. Press sources have also highlighted divisions over trade and fentanyl. Trump's positive assessment seen keeping alive expectations of a meeting with Xi, which may happen at next month's APEC summit in South Korea.
Markets in waiting mode for Wednesday's FOMC meeting, where 25 bp rate cut is widely expected. Greater interest surrounds forward-looking commentary (particularly around labor market), and updated dot plot amid debate whether it will show another 25 or 50 bp of easing for 2025 after September. Quiet otherwise from a headline perspective. US and Indian officials resume trade talks Tuesday in latest sign of thaw in tensions. Asian economic calendar empty aside from couple of RBA speeches.
Pre-open Company News:
670.HK -- China Eastern Airlines reports August traffic +8.72% y/y
6968.HK -- Ganglong China Property Group reports Jan-Aug contracted sales CNY3.60B; StreetAccount notes the year-ago figure was CNY3.61B
603885.CH -- Juneyao Airlines reports August traffic (1.91%) y/y
2196.HK -- NMPA approves drug registration for Fosun Pharmaceutical unit's FCN-437c to be combined with aromatase inhibitors for HR-positive, HER2-negative breast cancer
1055.HK -- China Southern Airlines reports August traffic +5.97% y/y
530813.IN -- KRBL Ltd appoints third-party firm to conduct review of governance observations highlighted by director Anil Chaudhary
1919.HK -- COSCO SHIPPING Holdings invests CNY370M in CNY1B JV for smart supply chain in Shenzhen
600515.CH -- Hainan Airport Infrastructure reports August takeoffs and landings 13,903, (3.3%) y/y
753.HK -- Air China reports August traffic +3.2% y/y
C6L.SP -- Singapore Airlines reports August traffic +5.4% y/y
HFR.AU -- Yankuang Energy Group terminates planned acquisition of Highfield Resources
884.HK -- Bondholders approve CIFI Holdings's onshore bond restructuring proposal
600438.CH -- Tongwei downgraded to overweight from buy at TF Securities (timing uncertain)
On Deck:
Japan:
Economic:
13:30 JST: Retail Sales NSA Y/Y (Final); consensus
Earnings:
ASKUL Corp (2678.JP), Park24 (4666.JP)
Market Data:
Gold (Dec 25): ($1.10) or (0.03%) to $3717.90
WTI Crude (Oct 25): +$0.02 or +0.03% to $63.32
$-¥: (0.25) or (0.17%) to 147.4200
$-KRW: (8.03) or (0.58%) to 1385.0100
A$-$: +0.00 or +0.35% to 0.6671
$-INR: (0.16) or (0.18%) to 88.1236
$-CNY: (0.01) or (0.09%) to 7.1180
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