Nov 27 ,2025
Synopsis:
Asian markets set for muted start to Friday trade. Futures signaling unchanged open in Japan and Hong Kong. Mild initial declines in Australia. S&P 500 futures flat. Australian yield curve bear flattening with policy-sensitive 3Y yield at nine-month high in wake of hot October CPI. FX markets steady with dollar not doing much on major crosses. Crude rose to one-week high. Gold a touch lower. Bitcoin extending rebound (up 7% week-to-date).
Not much in way of leads with US closed for Thanksgiving and European markets little changed Thursday. Momentum rebound has characterized this week's price action with tech-heavy Asian indexes up 3-4% week-to-date. Samsung (005930.KS) and Advantest (6857.JP) among this week's leading Asia tech gainers, up ~10% over the week. Nothing specific attributed for the rebound, which has corresponded with revival in December Fed rate cut expectations and cleaner positioning following recent drawdown.
Tokyo core inflation unchanged against expectations for slight drop while ex-energy inflation also came in steady. Data comes ahead of December BOJ meeting, where markets pricing in roughly 50% chance of a rate hike. Speaking Thursday, BOJ's Noguchi backed resumption of rate hikes at measured pace, warning about yen-driven inflation risks if real rates kept too low. Also follows Reuters source report BOJ preparing markets for possible interest rate hike as soon as December amid recent shift in policymaker messaging.
Pre-open Company News:
9606.HK -- Duality Biotherapeutics initiated overweight at Industrial Securities (timing uncertain)
600276.CH -- Jiangsu Hengrui Pharmaceuticals receives NMPA clinical trial approval for combined use of HRS-7058 with anti-tumour drugs for treatment of solid tumours
China's NPPA grants licenses for 6 imported games
2076.HK -- Kanzhun initiated buy at Huatai Securities (timing uncertain)
3998.HK -- Bosideng International Holdings reports H1 net income attributable CNY1.19B, +5% vs year-ago CNY1.13B
7003.JP -- MITSUI E&S initiated buy at Goldman Sachs
300014.CH -- EVE Energy initiated buy at Great Wall Securities (timing uncertain)
544028.IN -- Tata Technologies completes acquisition of ES-Tec Group; deal was announced on 13-Sep
JPMorgan upgrades O39.SP, S68.SP, U11.SP
2383.TT -- Elite Material upgraded to outperform from neutral at Macquarie
3182.MK -- Genting reports Q3 EPS 0.8sen vs year-ago 5.8sen
590.HK -- Luk Fook Holdings (International) reports H1 net income attributable HK$619.2M, +43% vs year-ago HK$434.5M
4715.MK -- Genting Malaysia reports Q3 EPS 2.1sen vs year-ago 10.0sen
2502.JP -- Transcript Intelligence: Asahi Group Holdings Business Update Call
On Deck:
Hong Kong:
Earnings:
Meituan (3690.HK), Hao Tian International Construction Investment Group (1341.HK), China Maple Leaf Educational Systems (1317.HK), Pacific Textiles Holdings (1382.HK), Jakota Capital (1468.HK), XJ International Holdings Co. (1765.HK), Tianli International Holdings (1773.HK), China Kepei Education Group (1890.HK), China Chunlai Education Group (1969.HK), China New Higher Education Group (2001.HK), EC Healthcare (2138.HK), China Gas Holdings (384.HK), China YuHua Education (6169.HK), Arrail Group (6639.HK), Eternal Beauty Holdings (6883.HK), China Water Affairs Group (855.HK)
Japan:
Economic:
08:50 JST: Industrial Production SA M/M (Preliminary); consensus (0.2%)
08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +1.5%
14:00 JST: Housing Starts NSA Y/Y; consensus (5.2%)
Earnings:
Tri Chemical Laboratories (4369.JP)
Australia:
Economic:
11:30 AEST: Private Sector Credit M/M; consensus
India:
Economic:
05:30 IST: GDP NSA Y/Y; consensus +7.2%
Taiwan:
Economic:
16:00 TST: GDP NSA Y/Y (Final); consensus +7.6%
Market Data:
Gold (Feb 26): ($7.10) or (0.17%) to $4195.20
WTI Crude (Jan 26): +$0.31 or +0.53% to $58.96
$-¥: (0.21) or (0.13%) to 156.2640
$-KRW: (10.18) or (0.69%) to 1461.4000
A$-$: +0.00 or +0.24% to 0.6532
$-INR: +0.20 or +0.23% to 89.3648
$-CNY: (0.00) or (0.02%) to 7.0788
This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to "Terms Of Use".
DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE