Nov 30 ,2025
Synopsis:
Asian markets set for mostly positive start to Monday trade. Futures signaling opening gains in Hong Kong and flat start in Japan. ASX unchanged in initial trade. S&P 500 futures little changed following a strong week for US markets. Australian bond yields up 1-2 bp while New Zealand curve extending bear flattening move following RBNZ's hawkish rate cut last week. FX markets steady after dollar logged biggest weekly drop since July. Crude rallying after OPEC+ reaffirmed commitment to pause production hikes in Q1 2026. Gold steady. Bitcoin unchanged.
China official PMIs showed factory activity contracted further in November, albeit at a narrower pace. Underlying components showed some improvement with output returning to neutral while declines in new orders and new export orders narrowed. Weakness was more evident in non-manufacturing sector, where activity negative for first time in three years as China's real estate slump weighed on construction and services activity. Asia PMIs coming up along with South Korea trade data, Japan capex growth, speech by Governor Ueda, Australian job ads and business inventories.
Asia PMIs (Mon) kick off a busy week after China PMIs showed activity subdued last month. On central banking front, BOJ Governor Ueda will address business leaders Monday, incoming RBNZ Governor Breman will make her first remarks Tuesday while RBI expected to lower repo rate Friday. Australia Q3 GDP, South Korea CPI and Japan household consumption among other data points of note. Japan 10Y (Tues) and 30Y (Thurs) bond auctions will test investor appetite following recent backup in yields..
Pre-open Company News:
600176.CH -- China Jushi holder Zhenshi Holding Group to acquire CNY550M-1.10B shares on market within 12 months
0166.MK -- Inari Amertron downgraded to hold from buy at UOB Kay Hian Securities
6808.HK -- Sun Art Retail Group CEO Shen Hui resigns due to family reasons, effective 1-Dec
000429.CH -- Shandong Hi-speed sells its 202.4M shares in Guangdong Provincial Expressway Development to Shandong Tonghui Capital for CNY2.44B
2899.HK -- Zijin Mining Group chairman Chen Jinghe to step down from board; appointed as lifetime honorary chairman subject to shareholder approval (28-Nov post-close)
MQG.AU -- Nomura Holdings completes previously announced acquisition of Macquarie's U.S. & European public asset management business
600079.CH -- Humanwell Healthcare (Group) obtains NMPA clinical trial approval for HWS117 injection
3750.HK -- Contemporary Amperex Technology upgraded to overweight from neutral at JPMorgan
1605.JP -- INPEX Corp downgraded to underperform from neutral at BofA
9888.HK -- Baidu initiated outperform at Haitong International
688472.CH -- CSI Solar to form two US joint ventures with controlling shareholder Canadian Solar; to restructure certain plants for US market
1958.HK -- BAIC Motor president Song Wei steps down, effective 29-Nov
1672.HK -- Ascletis Pharma selects ASC37 oral tablets as clinical development candidate
002463.CH -- WUS Printed Circuit (Kunshan) files for Hong Kong IPO through CICC, HSBC
On Deck:
Japan:
Earnings:
ITO EN (2593.JP)
South Korea:
Economic:
11:00 KST: Trade Balance NSA; consensus +$8.6B
11:00 KST: Import NSA Y/Y; consensus
11:00 KST: Export NSA Y/Y; consensus +7.5%
Australia:
Earnings:
Collins Foods (CKF.AU)
Indonesia:
Economic:
11:00 SAST: CPI NSA Y/Y; consensus +2.7%
Market Data:
Gold (Feb 26): +$1.80 or +0.04% to $4256.70
WTI Crude (Jan 26): +$0.92 or +1.57% to $59.47
$-¥: (0.05) or (0.03%) to 156.1240
$-KRW: +1.71 or +0.12% to 1469.4000
A$-$: (0.00) or (0.05%) to 0.6546
$-INR: (0.00) or (0.00%) to 89.3573
$-CNY: (0.00) or (0.01%) to 7.0743
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