Oct 16 ,2025
Synopsis:
Asian markets set for negative start to Friday trade. Futures signaling opening declines in Japan, Hong Kong and Australia. US contracts extending declines afterhours. Australian bonds strengthening after Treasuries bull steepened amid pickup in risk aversion (2Y yield lowest since Sep-2022). FX markets steady after dollar index extended recent pullback. Gold continues record-breaking surge. Crude flat after falling to early May lows. Bitcoin steady near early July lows.
Overnight weakness partially attributed to scrutiny on regional banks after KRX fell 6% to four-month low. Fallout continued from collapse of subprime auto lender Tricolor while press highlighted concerns stemming from riskier credit as big investors dial back exposure. AI trade also failed to provide much traction with TSMC (2330.TT) down 2% in US despite positive takeaways from Q3 earnings. Dovish Fedspeak from Waller and Miran didn't come as any great surprise and there was nothing particularly incremental on US-China trade tensions.
Pre-open Company News:
601958.CH -- Jinduicheng Molybdenum guides 9M net income attributable CNY2.28B vs year-ago CNY2.19B
600023.CH -- Zhejiang Zheneng Electric Power reports 9M electricity generation 13,523 GWh, +4.7% y/y
543299.IN -- Shyam Metalics and Energy guides INR400B revenue by 2031; doubling export revenues to $150-300M
500233.IN -- Kajaria Ceramics reports Q2 consolidated EPS (cont. ops) INR8.37 vs year-ago INR5.67
600741.CH -- Huayu Automotive Systems completes purchase of 49% stake in Shanghai SAIC Qingtao Energy Technology for CNY205.9M as announced on 28-Aug
532814.IN -- Follow up: Indian Bank reports Q2 net interest income INR65.51B vs FactSet INR63.48B
1336.HK -- New China Life Insurance reports Jan-Sep premium income of CNY172.70B, +19% y/y
6968.HK -- Ganglong China Property Group reports Jan-Sep contracted sales CNY4.05B; StreetAccount notes the year-ago figure was CNY4.06B
2330.TT -- Follow-up: TSMC guides Q4 revenue $32.2-33.4B vs FactSet NT$31.25B [24 est, NT$28.14-36.17B]
On Deck:
China:
Economic:
08:00 CST: Foreign Direct Investment Y/Y; consensus
Japan:
Earnings:
Tokyo Steel Manufacturing (5423.JP)
South Korea:
Earnings:
COSMAX (192820.KS)
India:
Earnings:
Atul Ltd (500027.IN), CESC Ltd (500084.IN), CRISIL (500092.IN), HFCL Ltd (500183.IN), Himadri Speciality Chemical (500184.IN), Hindustan Zinc (500188.IN), JSW Steel (500228.IN), CEAT Ltd (500878.IN), UCO Bank (532505.IN), PVR INOX (532689.IN), Tanla Platforms (532790.IN), Central Bank of India (532885.IN), REC Ltd (532955.IN), Tejas Networks (540595.IN), AU Small Finance Bank (540611.IN), Dalmia Bharat (542216.IN), Ujjivan Small Finance Bank (542904.IN), Anupam Rasayan India (543275.IN), Reliance Industries (500325.IN), Oracle Financial Services Software (532466.IN), Jindal SAW (500378.IN), India Cements (530005.IN)
Malaysia:
Economic:
00:00 EST: GDP NSA Y/Y (Preliminary); consensus +4.3%
Market Data:
Gold (Dec 25): +$72.30 or +1.68% to $4376.90
WTI Crude (Nov 25): ($0.01) or (0.02%) to $57.45
$-¥: (0.99) or (0.65%) to 150.0720
$-KRW: (5.57) or (0.39%) to 1415.7200
A$-$: (0.00) or (0.42%) to 0.6479
$-INR: +0.17 or +0.19% to 87.9907
$-CNY: (0.00) or (0.05%) to 7.1230
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