Nov 17 ,2025
Synopsis:
Asian markets set for negative start to Tuesday trade. Futures signaling opening declines in Japan and Hong Kong. ASX weakening in initial trade. S&P 500 futures flat after index experienced third straight decline on Monday. Australian bonds unchanged after Treasury yields fell 1-2 bp. FX markets steady after dollar rose to late January highs against yen. Crude and gold adding to overnight declines. Bitcoin down to seven month low.
Negative leads from US tech weakness that saw Nasdaq drop below 50 day moving average and SOX extend its month-to-date decline to 8%. Overnight developments included AAPL stepping up succession planning efforts as CEO Tim Cook could step down as soon as next year. NVDA was another drag amid high earnings bar ahead of its results this week. Xpeng's (9868.HK) US ADRs fell 10% after guiding Q4 revenue below estimates amid industry competition pressures. Nasdaq Golden Dragon index dropped 1%
Markets processing fallout from flare-up in China-Japan tensions over PM Takaichi's comments on Taiwan. Japan retail and tourism stocks notably lower Monday after China urged citizens to avoid travelling there. Some economists warned of negative impact to Japan Q4 GDP if there is a large drop in Chinese tourisms. Beijing also threatening further economic reprisals unless Takaichi retracts her comments. Japan dispatched Foreign Ministry official to China on Monday, seeking to tamp down tensions. However, China said no plans for Premier Li Qiang to meet Takaichi at G20 summit in South Africa this week.
Pre-open Company News:
603195.CH -- Gongniu Group controlling shareholder Ruan Xueping completes sale of 36.2M shares as announced on 10-Oct
543994.IN -- JSW Infrastructure to acquire 51% stake in Oman SPV South Minerals Port Company with total project capex $419M (INR37.16B)
000543.CH -- An Hui Wenergy initiated overweight at China Merchants Securities (timing uncertain)
RIGL -- Rigel announces publication of final 5-year data on REZLIDHIA (olutasidenib) in patients with R/R mIDH1 AML in the Journal of Hematology & Oncology
YF8.SP -- Yangzijiang Financial Holding completes placement of 8.6M Yangzijiang Maritime shares at SG$0.60/share
836.HK -- China Resources Power Holdings reports October net generation 16,615 GWh, (0.4%) y/y
600521.CH -- Zhejiang Huahai Pharmaceutical receives NMPA drug registration certificate for nicorandil injection
533148.IN -- JSW Energy director of finance/CFO Pritesh Vinay steps down to pursue opportunities outside, effective 31-Dec
2500.HK -- Venus Medtech (Hangzhou) submits CE technical file for TTVR system to DEKRA for CE mark approval in Europe
506820.IN -- AstraZeneca Pharma India and Sun Pharmaceutical Industries partner for sodium zirconium cyclosilicate powder for oral suspension 5 g for Hyperkalaemia
2883.TT -- KGI Financial Holdings reports 9M EPS NT$1.09; StreetAccount notes the year-ago figure was NT$1.71
9988.HK -- Alibaba unveils Qwen App; beta version freely available to users in China - Alizila (roughly 09:00 HKT/20:00 ET)
On Deck:
China:
Economic:
08:00 CST: Foreign Direct Investment Y/Y; consensus
Hong Kong:
Earnings:
Qifu Technology (3660.HK)
Australia:
Earnings:
Webjet Group (WJL.AU), Nufarm (NUF.AU)
New Zealand:
Earnings:
Napier Port Holdings (NPH.NZ), Argosy Property (ARG.NZ), Sanford (SAN.NZ)
Market Data:
Gold (Dec 25): ($26.20) or (0.64%) to $4048.30
WTI Crude (Dec 25): ($0.19) or (0.32%) to $59.72
$-¥: +0.68 or +0.44% to 155.2320
$-KRW: +13.26 or +0.92% to 1461.7900
A$-$: (0.00) or (0.70%) to 0.6493
$-INR: (0.05) or (0.06%) to 88.6316
$-CNY: +0.01 or +0.10% to 7.1067
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