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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.17%, Hang Seng Futures (0.30%), ASX SPI 200 +0.46%, S&P Futures +0.53%

Oct 30 ,2025

  • Synopsis:

    • Asian markets set for mixed start to Friday trade. Futures signaling muted open in Japan and Hong Kong while ASX higher in initial trade. S&P 500 and Nasdaq futures strengthening amid post-earnings rally in AMZN and AAPL. Australian bonds flat after Treasury curve bear steepened further overnight. FX markets steady after dollar extended post-FOMC gains. Gold adding to gains in cash session while crude pulling back. Bitcoin recovering from one-week low.

    • Negative offshore leads with big US tech leading declines amid mixed takeaways from first batch of Mag 7 earnings (expense ramp an overhang and still a lot of scrutiny surrounding monetization). Trump-Xi trade truce didn't provide much traction, agreement largely in-line with expectations while détente still seen as fragile. Markets still processing hawkish Fed takeaways after Chair Powell said December rate cut far from certain, contributing to winding back of market's easing expectations.

    • China official PMIs forecast to show manufacturing shrunk at a slightly faster pace in October, marking a seventh straight monthly contraction. Non-manufacturing activity forecast to have nudged up. China Q3 GDP seen leaving country on track to achieve yearly growth target of ~5%, reducing prospects of further fiscal stimulus. US decision to cut fentanyl tariff by 10% also estimated to provide marginal near-term boost to exports and growth. Some economists continue to expect modest PBOC rate and RRR cuts amid the persistent deflationary drag.

    • US Mag 7 earnings in focus. ~AMZN~ +13% afterhours following larger-than-expected acceleration in AWS revenue growth, clearing a relatively low bar and marking fastest rate of growth since 2022. Group also upgraded FY capex guidance. ~AAPL~ +2% afterhours. Bottom line beat while top line in-line. iPhone revenue narrowly trailed estimates with CEO Time Cook blaming China delays. Cook guided holiday iPhone sales above expectations amid strong demand for iPhone 17. China revenue decline worse than expected though Cook remained positive.

  • Pre-open Company News:

    • 600018.CH -- Shanghai International Port (Group) reports Q3 net income attributable CNY3.23B, (4.8%) y/y

    • 600803.CH -- ENN Natural Gas reports Q3 net income attributable CNY1.02B, +5.9% y/y

    • 2327.TT -- Yageo not to distribute profits for H1

    • 1336.HK -- New China Life Insurance reports Q3 net income attributable CNY16.92B ex-items, +76% vs year-ago CNY9.61B

    • 543463.IN -- Vedant Fashions reports Q2 EPS INR2.31 vs FactSet INR2.87 [4 est, INR1.90-4.47]

    • 601888.CH -- China Tourism Group Duty Free reports Q3 net income attributable CNY452.2M vs FactSet CNY731.3M [2 est, CNY593.6-869M]

    • 601228.CH -- Guangzhou Port reports Q3 net income attributable CNY196.1M, (9.4%) y/y

    • 9995.HK -- RemeGen reports Q3 net income attributable (CNY101.1M); StreetACcount notes the year-ago figure was (CNY291.0M)

    • 600606.CH -- Greenland Holdings reports Q3 net income attributable (CNY3.18B), (11912.4%) y/y

    • 543390.IN -- PB Fintech Q2 profit beat; growth momentum steady, GST risks cited; shares +6.4%

    • 1766.HK -- CRRC Corp. unit CRRC Changchun Railway Vehicles to buy Beijing CRRC Equipment Technology for CNY186.2M

    • 002304.CH -- Jiangsu Yanghe Brewery Joint-Stock reports Q3 net income attributable (CNY368.6M) vs FactSet CNY690.5M [2 est, CNY302-1.08B]

    • 500520.IN -- StreetAccount Consensus Metrics Preview - Mahindra & Mahindra Q2 Earnings

    • 6818.HK -- China Everbright Bank reports Q3 net income attributable CNY12.40B, (11%) vs year-ago CNY13.93B

    • 1098.HK -- Road King Infrastructure reports 9M contracted sales CNY6.05B; StreetAccount notes year-ago figure was CNY8.67B

  • On Deck:

    • China:

      • Economic:

        • 09:30 CST: CFLP PMI Manufacturing; consensus 49.6

        • 09:30 CST: CFLP Non Manufacturing PMI; consensus 50.2

        • 09:30 CST: CFLP Services PMI; consensus

      • Earnings:

        • Anhui Gujing Distillery (000596.CH), AECC Aviation Power (600893.CH), China Satellite Communications (601698.CH)

    • Hong Kong:

      • Earnings:

        • HKBN Ltd. (1310.HK), Zhejiang Expressway (576.HK), Chery Automobile (9973.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +0.6%

        • 08:50 JST: Industrial Production SA M/M (Preliminary); consensus +1.5%

        • 14:00 JST: Housing Starts NSA Y/Y; consensus (7.4%)

      • Earnings:

        • Sumitomo Forestry (1911.JP), Coca-Cola Bottlers Japan Holdings (2579.JP), Mitsubishi Chemical (4188.JP), Sumitomo Pharma (4506.JP), Nxera Pharma (4565.JP), Daiichi Sankyo (4568.JP), Otsuka Holdings (4578.JP), OTSUKA CORP (4768.JP), Niterra Co. (5334.JP), Sumitomo Electric Industries (5802.JP), NTN Corp (6472.JP), Socionext (6526.JP), TDK (6762.JP), Alps Alpine (6770.JP), Lasertec (6920.JP), FANUC Corp. (6954.JP), Murata Manufacturing (6981.JP), SCREEN (7735.JP), Kanematsu (8020.JP), Tokyo Electron (8035.JP), SBI Holdings (8473.JP), Tokyo Metro (9023.JP), NS United Kaiun Kaisha (9110.JP), Mitsubishi Logistics (9301.JP), Autobacs Seven (9832.JP), Daito Trust Construction (1878.JP), CHUDENKO (1941.JP), Kandenko (1942.JP), Nippon Densetsu Kogyo (1950.JP), Kyudenko (1959.JP), Seria Co. (2782.JP), Toyo Suisan Kaisha (2875.JP), dely, Inc (299A.JP), ZOZO Inc (3092.JP), Toyota Boshoku (3116.JP), Joyful Honda (3191.JP), TIS Inc. (3626.JP), Toagosei (4045.JP), Fuso Chemical (4368.JP), Chugoku Marine Paints (4617.JP), Nippon Electric Glass (5214.JP), TOTO Ltd (5332.JP), NGK Insulators (5333.JP), Yamato Kogyo (5444.JP), Nippon Yakin Kogyo Co. (5480.JP), Nippon Light Metal Holdings (5703.JP), Sanwa Holdings (5929.JP), LIXIL Corp. (5938.JP), TechnoPro Holdings (6028.JP), Makino Milling Machine Co. (6135.JP), Toyota Industries (6201.JP), Nabtesco (6268.JP), Sumitomo Heavy Industries (6302.JP), Organo (6368.JP), Tsubakimoto Chain (6371.JP), Max Co. (6454.JP), JTEKT Corp. (6473.JP), Mitsubishi Electric (6503.JP), Makita (6586.JP), Mabuchi Motor Co. (6592.JP), JVCKenwood (6632.JP), Wacom Co. (6727.JP), EIZO Corp. (6737.JP), Maxell (6810.JP), DENSO Corp. (6902.JP), Stanley Electric (6923.JP), Tokyo Kiraboshi Financial Group (7173.JP), ShinMaywa Industries (7224.JP), Aisin Corp. (7259.JP), Toyoda Gosei (7282.JP), CCI Group (7381.JP), AS ONE (7476.JP), Argo Graphics (7595.JP), HOYA Corp (7741.JP), FP Corp (7947.JP), Nifco Inc (7988.JP), Toyota Tsusho (8015.JP), Sumitomo (8053.JP), ITOCHU ENEX (8133.JP), H2O Retailing (8242.JP), Orient (8585.JP), Tokai Tokyo Financial Holdings (8616.JP), Heiwa Real Estate (8803.JP), Keisei Electric Railway (9009.JP), Nankai Electric Railway (9044.JP), Sankyu (9065.JP), Iino Kaiun Kaisha (9119.JP), The Chugoku Electric Power (9504.JP), Kyushu Electric Power (9508.JP), Hokkaido Electric Power Co. (9509.JP), Electric Power Development (9513.JP), transcosmos (9715.JP), NSD Co. (9759.JP), Trusco Nakayama (9830.JP), Inaba Denkisangyo (9934.JP), Ohsho Food Service (9936.JP), MISUMI Group (9962.JP)

    • South Korea:

      • Earnings:

        • Soop Co. (067160.KS), Kia Corp. (000270.KS), LG Chem (051910.KS), LG Electronics (066570.KS), Poongsan (103140.KS), Hanwha Systems (272210.KS), Hyundai Autoever (307950.KS), SK ie technology (361610.KS)

    • Australia:

      • Economic:

        • 11:30 AEST: Private Sector Credit M/M; consensus +0.6%

      • Earnings:

        • Star Entertainment Group (SGR.AU)

    • India:

      • Earnings:

        • Prism Johnson (500338.IN), Intellect Design Arena (538835.IN), Dr. Lal PathLabs (539524.IN), Vedanta (500295.IN), ACC Ltd (500410.IN), Bharat Petroleum (500547.IN), Balkrishna Industries (502355.IN), Schaeffler India (505790.IN), Jubilant Pharmova (530019.IN), GAIL (India) (532155.IN), Mahindra Lifespace Developers (532313.IN), Equitas Small Finance Bank (543243.IN), Aptus Value Housing Finance India (543335.IN), RR Kabel (543981.IN), Fertilizers & Chemicals Travancore (590024.IN)

    • Singapore:

      • Earnings:

        • CapitaLand India Trust (CY6U.SP)

    • Taiwan:

      • Economic:

        • 16:00 TST: GDP NSA Y/Y (Preliminary); consensus +4.8%

      • Earnings:

        • MediaTek (2454.TT)

  • Market Data:

    • Gold (Dec 25): +$24.70 or +0.62% to $4040.60

    • WTI Crude (Dec 25): ($0.29) or (0.48%) to $60.28

    • $-¥: +1.26 or +0.82% to 153.9910

    • $-KRW: (2.21) or (0.15%) to 1424.0100

    • A$-$: (0.00) or (0.32%) to 0.6554

    • $-INR: +0.23 or +0.26% to 88.6343

    • $-CNY: +0.01 or +0.15% to 7.1094

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