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StreetAccount Summary - Asian Market Preview: Nikkei Futures (0.24%), Hang Seng Futures (0.29%), ASX SPI 200 (0.12%), S&P Futures (0.21%)

Sep 30 ,2025

  • Synopsis:

    • Asian markets set for cautious start to Wednesday trade. Futures signaling mild opening declines in Japan and Australia. Greater China markets closed for Golden Week holiday. S&P 500 futures weakening in postmarket trade with US hours from shutdown. Australian bonds extending post-RBA sell-off. Treasuries mixed overnight with curve steepening. Muted FX market price action with dollar index flat. Crude steady following second session of declines in aftermath of OPEC+ output headlines. Gold little changed after hitting fresh record high. Bitcoin flat following choppy session.

    • US markets finished mostly higher Tuesday with stocks continuing to shrug off looming government shutdown (Street downplayed economic risks and noted past shutdowns tend to be brief). Trump's latest tariff salvo was also overlooked. AI a relative bright spot after CRWV signed agreement with META to supply over $14B of computing power. SOX's 1% gain outpaced Nasdaq. Elsewhere, Nasdaq Golden Dragon index finished down 1% after China equities capped off fifth straight monthly advance, led by tech stocks.

    • Hawkish trade comments from USTR Greer, who said 55% China tariffs is "status quo" that Trump views as the deal with Beijing. Added that administration will resort to alternative trade authority to impose tariffs should SCOTUS strike down reciprocal duties. Greer flagged expectation of more trade deals when Trump visits SE Asian countries later this year. However, talks with South Korea appear stuck on $350B investment pledge with Seoul pushing for FX swap deal first. US also continues to press India to end Russian crude purchases before tariff relief.

    • BOJ Tankan headlines economic calendar with consensus looking for minor change in manufacturer and non-manufacturer sentiment. Follows September BOJ Summary of Opinions, which reinforced indications board members may be preparing for rate hike (one comment underlined upcoming Tankan as a key indicator). Comes as Japan 2Y yield touched highest since 2008 on Tuesday following auction that saw weakest demand since 2009, which strategists attributed to rising expectations of October rate hike.

  • Pre-open Company News:

    • 402340.KS -- SK Square Co. completes KRW100.00B buyback

    • 300601.CH -- Shenzhen Kangtai Biological Products and AstraZeneca terminates AZD1222 cooperation agreement

    • 5301.JP -- Tokai Carbon completes acquisition of Bridgestone Carbon Black (Thailand)

    • 6963.JP -- ROHM Co. signs MOU with Infineon on packages for SiC power semiconductors

    • China reports Jan-Aug container throughput 234.4M TEU, +6.3% y/y

    • 3933.HK -- United Laboratories International Holdings obtains NMPA clinical trial approval for UBT37034 for injection on indication of overweight or obesity

    • 1996.HK -- Redsun Properties Group provides update on addressing auditors' disclaimer of opinion

    • 9147.JP -- Nippon Express Holdings downgraded to B+ from A at Iwai Cosmo Securities

    • SMBC Nikko upgrades Taiyo Yuden; downgrades Murata Manufacturing

    • 259960.KS -- KRAFTON upgraded to add from hold at CGS International

    • 2696.HK -- Shanghai Henlius Biotech obtains NMPA approval for phase Ib/II clinical trial of HLX43 for injection combined with HLX07 for treatment of advanced/metastatic solid tumors

    • 215.HK -- Hutchison Telecommunications Hong Kong Holdings CEO Koo Sing Fai resigns to pursue other opportunities, effective tomorrow

  • On Deck:

    • Japan:

      • Economic:

        • 08:50 JST: Tankan Large Non-Manufacturing Index NSA; consensus

        • 08:50 JST: Tankan Large Manufacturing Index NSA; consensus

      • Earnings:

        • NISHIMATSUYA CHAIN (7545.JP)

    • South Korea:

      • Economic:

        • 11:00 KST: Trade Balance NSA; consensus +$7.3B

        • 11:00 KST: Export NSA Y/Y; consensus +5.4%

        • 11:00 KST: Import NSA Y/Y; consensus +4%

    • New Zealand:

      • Earnings:

        • Warehouse Group (WHS.NZ)

    • Indonesia:

      • Economic:

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

  • Market Data:

    • Gold (Dec 25): +$16.50 or +0.43% to $3889.70

    • WTI Crude (Nov 25): +$0.12 or +0.19% to $62.49

    • $-¥: (0.71) or (0.47%) to 147.8970

    • $-KRW: +3.10 or +0.22% to 1403.1500

    • A$-$: +0.00 or +0.52% to 0.6612

    • $-INR: +0.14 or +0.16% to 88.8408

    • $-CNY: (0.00) or (0.01%) to 7.1185

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