Nov 11 ,2025
Synopsis:
Asian markets set for mixed start to Wednesday trade. Futures signaling opening gain in Hong Kong and flat start in Japan. ASX unchanged in initial trade. S&P 500 futures flat afterhours. Australian bonds strengthening with yields down 2-3 bp. FX markets steady after dollar firmed against yen. Gold nudging higher while crude flat near overnight highs. Bitcoin pulling back from one-week high.
AI trade under renewed scrutiny (SOX down 2.5%) following reports SoftBank (9984.JP) exited its NVDA stake to help fund AI investments including Stargate. SoftBank ADRs rallied 4% in US while NVDA fell 3%. There was also more discussion about debt risks tied to AI spend with FT article highlighting recent underperformance of big tech bonds. Earnings got mixed reception with CRWV down 16% following guidance downgrade. However, AMD +3% in Tuesday afterhours trade after forecasting acceleration in profit and data center revenue over coming years.
In macro developments, Reuters Tankan showed Japan manufacturer sentiment rose to highest since Jan-2022, strong showings in electronics and auto sectors aided by weak yen and global semiconductor demand. Nothing surprising out of PBOC Q3 monetary policy report, which reiterated 'appropriately loose' policy stance with liquidity kept ample. Comes ahead of October credit data this week, which are expected to show weaker overall loan growth amid tepid credit demand.
Pre-open Company News:
541988.IN -- Aavas Financiers reports Q2 EPS INR20.55 vs FactSet INR19.62 [4 est, INR18.19-21.10]
338.HK -- Sinopec Shanghai Petrochemical appoints Lu Zhiyong as general manager, effective 11-Nov
3702.TT -- WPG Holdings proposes three-year 0% exchangeable bond issuance to raise up to NT$3B
500469.IN -- Federal Bank completes acquisition of 4% stake in Ageas Federal Life Insurance; deal announced on 25-Mar
534597.IN -- RattanIndia Enterprises reports Q2 consolidated EPS (INR2.87) vs year-ago (INR1.75)
500038.IN -- Balrampur Chini Mills releases sustainability report (pg. 45-57)
2408.TT -- Formosa Plastics to dispose 19.0M shares in Nanya Technology for ~NT$3.12B
OXMU.SP -- Prime US REIT reports Q3 distributable income $6.3M vs year-ago $8.5M
3702.TT -- WPG Holdings reports Q3 EPS NT$1.89 vs guidance NT$1.48-1.80 and FactSet NT$1.49 [4 est, NT$1.31-1.66]
1478.HK -- Q Technology (Group) reports October camera module sales 47.4M units, +1.6% m/m, +20.4% y/y
WHART.TB -- Wha Premium Growth Freehold & Leasehold Real Estate Investment reports Q3 increase in net assets from operation THB699.4M, +7% vs year-ago THB651.8M
BAM.TB -- Bangkok Commercial Asset Management Public reports Q3 net income attributable THB183.8M, (8%) vs year-ago THB199.3M
542649.IN -- Rail Vikas Nigam reports Q2 consolidated EPS INR1.10 vs year-ago INR1.38
532523.IN -- Biocon reports Q2 consolidated EPS INR0.65 vs year-ago (INR0.13)
2408.TT -- Formosa Chemicals & Fibre to dispose 19.0M shares in Nanya Technology for ~NT$3.12B
On Deck:
China:
Economic:
08:00 CST: New Yuan Loans; consensus
Hong Kong:
Earnings:
SJM Holdings (880.HK), Johnson Electric Holdings (179.HK), Pou Sheng International (Holdings) (3813.HK), Yue Yuen Industrial (Holdings) (551.HK)
Japan:
Earnings:
Kuraray (3405.JP), Soracom (147A.JP), M3 (2413.JP), Sapporo Holdings (2501.JP), Terumo (4543.JP), PeptiDream (4587.JP), Trend Micro (4704.JP), Bridgestone (5108.JP), Sumitomo Rubber Industries (5110.JP), DOWA HOLDINGS (5714.JP), Citizen Watch (7762.JP), Sumitomo Mitsui Trust Group (8309.JP), ORIX (8591.JP), Japan Petroleum Exploration (1662.JP), HASEKO (1808.JP), Morinaga & Co. (2201.JP), SBS Holdings (2384.JP), Asahi Group Holdings (2502.JP), Arata Corp (2733.JP), Wacoal Holdings (3591.JP), Central Glass Co. (4044.JP), Kaneka (4118.JP), Dexerials (4980.JP), ENEOS (5020.JP), Toyo Tire (5105.JP), SWCC Corp. (5805.JP), NHK Spring (5991.JP), TAKUMA (6013.JP), Japan Material (6055.JP), KITZ Corp (6498.JP), PHC Holdings (6523.JP), MITSUI E&S (7003.JP), Isuzu Motors (7202.JP), Kyokuto Kaihatsu Kogyo (7226.JP), KYB Corp (7242.JP), Pan Pacific International Holdings (7532.JP), Star Micronics (7718.JP), ASICS Corp (7936.JP), Yamazen (8051.JP), Toho Holdings (8129.JP), Seino Holdings (9076.JP), Nippon Express Holdings (9147.JP), TKC Corp (9746.JP)
South Korea:
Economic:
08:00 KST: Unemployment Rate; consensus 2.5%
Earnings:
PearlAbyss (263750.KS), Lotte Chemical (011170.KS), JYP Entertainment (035900.KS), Korea Gas (036460.KS), Kolon Industries (120110.KS), Samsung Fire & Marine Insurance Co. (000810.KS), WON TECH (336570.KS)
Australia:
Earnings:
Xero (XRO.AU)
New Zealand:
Earnings:
Infratil (IFT.NZ)
India:
Earnings:
Pfizer Ltd. (India) (500680.IN), Welspun Living (514162.IN), Info Edge India (532777.IN), IRB Infrastructure Developers (532947.IN), Prestige Estates Projects (533274.IN), Cochin Shipyard (540678.IN), Hindustan Aeronautics (541154.IN), Data Patterns (India) (543428.IN), Tata Steel (500470.IN), Gujarat Narmada Valley Fertilizers & Chemicals (500670.IN), Deepak Nitrite (506401.IN), Lloyds Metals & Energy (512455.IN), ELGI Equipments (522074.IN), Indraprastha Gas (532514.IN), Century Plyboards (India) (532548.IN), KNR Constructions (532942.IN), PNC Infratech (539150.IN), Endurance Technologies (540153.IN), General Insurance Corporation of India (540755.IN), Lemon Tree Hotels (541233.IN), IRCON International (541956.IN), Indian Railway Catering & Tourism (542830.IN)
Singapore:
Earnings:
Fraser & Neave (F99.SP), Singtel (Z74.SP)
Taiwan:
Earnings:
HTC Corp (2498.TT), TCC Group Holdings CO. (1101.TT), Cheng Shin Rubber Ind. (2105.TT), Hotai Motor (2207.TT), Hon Hai Precision Industry (2317.TT), Compal Electronics (2324.TT), Foxconn Technology (2354.TT), Micro-Star International (2377.TT), Chicony Electronics (2385.TT), Evergreen Marine (2603.TT), Yang Ming Marine Transport (2609.TT), Asia Vital Components (3017.TT), Jentech Precision Industrial (3653.TT), Pegatron (4938.TT), Nien Made Enterprise Co. (8464.TT), Lotus Pharmaceutical (1795.TT)
Thailand:
Earnings:
Asia Aviation Public (AAV.TB), Aurora Design Public (AURA.TB), Bangkok Dusit Medical Services Public (BDMS.TB), CP All Public (CPALL.TB), PTT Public Co. (PTT.TB)
Philippines:
Earnings:
SM Investments (SM.PM)
Market Data:
Gold (Dec 25): +$27.80 or +0.68% to $4144.10
WTI Crude (Dec 25): ($0.01) or (0.02%) to $61.03
$-¥: (0.01) or (0.01%) to 154.1280
$-KRW: +2.94 or +0.20% to 1459.8400
A$-$: (0.00) or (0.09%) to 0.6530
$-INR: (0.24) or (0.27%) to 88.4664
$-CNY: (0.00) or (0.05%) to 7.1163
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