Oct 20 ,2025
Synopsis:
Asian markets set for positive start to Tuesday trade. Futures signaling opening gains in Japan and Hong Kong. ASX higher in initial trade. S&P 500 futures extending gains following Monday's tech- and small-cap-led advance. Australian yield curve bull flattening after Treasuries firmed Monday. Dollar steady following mild strength on major crosses. Gold back to record high after recouping Friday's decline. Crude little changed. Bitcoin unchanged after rebounding strongly from early July lows.
Markets latching onto fresh signs of a tamping down in US-China trade tensions. Speaking on Monday, President Trump again voiced optimism of a deal when he meets Xi at APEC this month. Also reiterated threat of additional 100% tariff if no deal by 1-Nov along with other potential actions like cutting off shipments of commercial airline parts. Trump expects Taiwan to feature in talks with Xi but downplayed prospect of China invading. Remarks come ahead of expected meeting between Bessent and Vice Premier He Lifeng this week.
Sanae Takaichi expected to be chosen as Japan's next prime minister in a parliamentary vote today. Follows coalition agreement struck by LDP and JIP on Monday, which was attributed for Monday rally in Japan equities, bear flattening of JGB curve and some yen weakness. Nikkei reported two reached agreements on cutting gasoline surtax and introducing supplementary budget to address cost of living though LDP resisted demands for two-year suspension of food consumption tax and imposing stricter rules on political funding.
Pre-open Company News:
883.HK -- CNOOC CEO Zhou Xinhuai resigns, effective today
601669.CH -- Power Construction Corporation of China reports Jan-Sep new contract value CNY904.53B, +5.0% y/y
5423.JP -- TOS LLC buys 6.5% stake in Tokyo Steel Manufacturing; terms undisclosed
000661.CH -- Changchun High-Tech Industry (Group) Co. receives NMPA clinical trial approval for GenSci139 injection for advanced solid tumors
300750.CH -- Contemporary Amperex Technology reports 9M CAS net income attributable CNY49.03B, +36% vs year-ago CNY36.00B
YAL.AU -- Yancoal Australia reports Q3 attributable saleable coal production 9.3Mt, (9%) y/y
BVS.VN -- Bao Viet Securities reports Q3 NPAT VND81.17B, +128% vs year-ago VND35.61B
601668.CH -- China State Construction Engineering Corp. reports Jan-Sep new contracts CNY3.294T, +1.4% y/y
6957.JP -- Yageo completes public acquisition of Shibaura Electronics with 87.3% subscription rate
666.HK -- REPT BATTERO Energy upgraded to equal-weight from underweight at Morgan Stanley
003670.KS -- POSCO Future M Co. downgraded to sell from buy at Daiwa
002230.CH -- Iflytek reports Q3 net income attributable CNY172.25B vs FactSet CNY147.3M [2 est, CNY19.4-275.1M]
000933.CH -- Henan Shenhuo Coal & Power reports Q3 net income attributable CNY1.59B, +26.4% y/y
9678.HK -- Unisound AI Technology targets to deliver CNY200M large models and agent projects by 2025
On Deck:
China:
Economic:
08:00 CST: Foreign Direct Investment Y/Y; consensus
Hong Kong:
Earnings:
China Telecom (728.HK), MMG Ltd (1208.HK)
Australia:
Earnings:
Atlas Arteria (ALX.AU)
New Zealand:
Earnings:
Genesis Energy (GNE.NZ)
Thailand:
Earnings:
TMBThanachart Bank Public Co. (TTB.TB), Bangkok Bank Public (BBL.TB), Krung Thai Bank Public Co. (KTB.TB)
Market Data:
Gold (Dec 25): +$20.00 or +0.46% to $4379.40
WTI Crude (Nov 25): ($0.08) or (0.14%) to $57.44
$-¥: +0.13 or +0.09% to 150.7640
$-KRW: (1.89) or (0.13%) to 1419.7400
A$-$: +0.00 or +0.26% to 0.6515
$-INR: (0.12) or (0.14%) to 87.8801
$-CNY: (0.01) or (0.11%) to 7.1191
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