Oct 09 ,2025
Synopsis:
Asian markets set for negative start to Friday trade. Futures signaling opening declines in Japan and Hong Kong. ASX weakening in initial trade. S&P 500 futures flat following lackluster Thursday session. Australian and New Zealand bonds weakening after front-end Treasury yields rose slightly overnight. Dollar steady after strengthening to late July highs, yen extended decline to February low. Crude flat after retreating 2%. Gold coming off lows after pulling back sharply from record high. Bitcoin hovering near one-week low.
Local media interview by LDP leader Takaichi on Thursday drew attention after she pushed back against notion she is in favor of excess yen depreciation (though also qualified there are pros and cons to yen weakness). She also played down past comments deriding BOJ rate hikes, and said she is not considering an immediate re-evaluation of BOJ accord. Her comments follow 4% depreciation in yen in wake of her LDP leadership victory a week ago, sending currency to its lowest against dollar since February.
Rare earths reemerging as source of tensions between US and China after Beijing on Thursday announced tightening of export controls, including on processing technology. Curbs were announced just weeks before an expected Trump-Xi meeting in South Korea, giving rise to thoughts Beijing looking to create leverage in negotiations. Responding to rare earths report, Trump floated retaliation without giving more detail. Also predicted China will resume US soybean purchases.
In other developments, China announced fresh measures to rein in disorderly price competition. US imposed sanctions against Chinese entities involved in Iranian oil exports. Bloomberg sources noted White House weighing restrictions on China-linked router producer, TP-Link Systems. India PMI Modi touted good progress in US trade negotiations following his phone call with Trump. Hawkish-leaning comments from RBA Governor Bullock before parliamentary committee this morning, noting labor market little tight and posing some upside risk to inflation.
Pre-open Company News:
2449.TT -- King Yuan Electronics to withdraw the cash capital increase and new share issuance plan
2883.TT -- KGI Financial Holdings reports September net income attributable NT$4.53B; StreetAccount notes the year-ago figure was NT$2.22B
2353.TT -- Acer Inc reports September revenue NT$29.53B, +12.2% y/y
6488.TT -- GlobalWafers reports September revenue NT$5.90B, +14.6% y/y
500520.IN -- Mahindra & Mahindra refutes demerger speculation, confirms no plans to split auto & tractor business
002653.CH -- Haisco Pharmaceutical Group receives NMPA's acceptance notice for HSK36357 IND application for new indication
300373.CH -- Yangzhou Yangjie Electronic Technology guides Q3 net income attributable CNY335.4-402.3M vs year-ago CNY244.3M
1238.HK -- Powerlong Real Estate Holdings reports September contracted sales CNY524M; StreetAccount notes the year-ago figure was CNY614M
2696.HK -- Shanghai Henlius Biotech HANSIZHUANG phase III study for treatment of gastric cancer has met primary endpoint
2618.TT -- EVA Airways reports September revenue NT$15.62B, (10.0%) y/y
601877.CH -- Chint Electrics completes CNY270-540M buyback
600521.CH -- NMPA accepts submission of Huahai Pharmaceutical unit's marketing application for HB0034 for GPP in adults
300498.CH -- Wen's Foodstuff Group provides September sales update
000937.CH -- Jizhong Energy Resources completes acquisition of 49% stake in Inner Mongolia coal power plant
On Deck:
China:
Economic:
08:00 CST: M2 NSA Y/Y; consensus
08:00 CST: Loan Growth Y/Y; consensus
08:00 CST: New Yuan Loans; consensus
Hong Kong:
Earnings:
Zhaojin Mining Industry (1818.HK)
Japan:
Economic:
08:50 JST: Bank Loans NSA Y/Y; consensus
08:50 JST: Domestic CGPI NSA Y/Y; consensus
Earnings:
TSURUHA Holdings (3391.JP), Bic Camera (3048.JP), Sansan (4443.JP), Rorze Corp (6323.JP), Takeuchi Mfg. (6432.JP), Ryohin Keikaku (7453.JP), Belc Co. (9974.JP)
India:
Earnings:
Elecon Engineering (505700.IN)
Market Data:
Gold (Dec 25): +$25.20 or +0.63% to $3997.80
WTI Crude (Nov 25): +$0.10 or +0.16% to $61.61
$-¥: +0.38 or +0.25% to 153.0730
$-KRW: (0.01) or (0.00%) to 1421.5100
A$-$: (0.00) or (0.46%) to 0.6556
$-INR: +0.11 or +0.12% to 88.8655
$-CNY: +0.01 or +0.11% to 7.1275
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