Dec 08 ,2025
Synopsis:
Asian markets set for negative start to Tuesday trade. Futures signaling opening decline in Japan and flat start in Hong Kong. ASX weakening in initial trade. Nasdaq futures up afterhours with NVDA and AMD strengthening after Trump greenlit H200 exports. Australian and New Zealand bonds tracking overnight Treasury weakness. FX markets steady after dollar rebounded to one-week high against yen. Crude and gold unchanged after settling down. Bitcoin range bound.
RBA expected to leave cash rate unchanged at 3.60% at Tuesday's meeting. Most of the interest surrounds whether RBA adopts a more hawkish posture following recent run of hot inflation prints and strengthening private demand. Economists anticipate statement will acknowledge inflation, growth and labor market trends but reemphasize data-dependent approach. Governor Bullock seen echoing parliament testimony that board will act if inflation upswing proves persistent. Market currently fully pricing in rate hike by end-2026.
Rate backup in focus ahead of Wednesday's Fed decision and potentially hawkish rate cut after multiple policymakers recently voiced concern about upside inflation risks. Global central banks have recently tilted in more hawkish direction with most of the focus lately on ramp in December BOJ rate hike expectations. RBA also seen pivoting to rate hike stance in 2026, RBNZ has signaled easing cycle over while markets have largely ruled further rate cuts by ECB and BOC through 2026.
Another batch of AI headlines with President Trump confirming US government will allow NVDA to export H200 chips to China in return for 25% cut. Trump said similar approach will be taken with AMD and INTC. OpenAI discussions have centered on competition pressures from GOOGL and expected unveiling of updated GPT model. MSFT in talks to develop next-gen chips with AVGO, shifting away from MRVL. China AI chip producers have featured in news with Baidu (9888.HK) confirming it is weighing spinning off Kunlun unit.
Pre-open Company News:
543994.IN -- JSW Infrastructure to acquire JSW Rail Infra Logistics, JSW Minerals Rail Logistics and JSW (South) Rail Logistics for INR12.12B EV in cash
2126.HK -- JW (Cayman) Therapeutics provides R&D update regarding IIT study data for JWCAR201
532174.IN -- ICICI Bank to acquire 2% stake in ICICI Prudential Asset Management from Prudential Corporation Holdings for INR21.40B (£178.3M) in cash
NVTS -- Navitas, Cyient Semiconductors enter into a strategic partnership to accelerate GaN adoption in India's AI, mobility, industrial, and energy markets
EU sets a provisional deadline of 22-Jan to rule on Japan Industrial Partners' acquisition of Mitsubishi Logisnext
KURA -- Kura Oncology and Kyowa Kirin report combination data for KOMZIFTI (Ziftomenib) with venetoclax and azacitidine in newly diagnosed and relapsed/refractory AML; conf. call at 12:30 ET
2890.TT -- SinoPac Financial Holdings Co. reports November net income NT$1.99B; StreetAccount notes the year-ago figure was NT$1.00B
532144.IN -- Welspun Corp's associate East Pipes Integrated Company for Industry receives six months SAR485M (INR11.65B) contract from Saudi Water Authority
1238.HK -- Powerlong Real Estate Holdings reports November contracted sales CNY521M; StreetAccount notes the year-ago figure was CNY987M
600373.CH -- Chinese Universe Publishing & Media Group chair Ling Wei to step down due to work rearrangement, effective immediately
544277.IN -- Waaree Solar Americas receives order to supply 288 MWp solar modules from Sabanci Renewables for Two Utility-Scale Projects in Texas
523457.IN -- Linde India comments on media reports
500034.IN -- Bajaj Finance upgraded to accumulate from hold at Prabhudas Lilladher
601231.CH -- Universal Scientific Industrial (Shanghai) reports November consolidated revenue CNY5.20B, (3.3%) y/y
916.HK -- China Longyuan Power Group reports November power generation 6,944 GWh, +14.3% y/y
On Deck:
China:
Economic:
08:00 CST: M2 NSA Y/Y; consensus
08:00 CST: Loan Growth Y/Y; consensus
08:00 CST: New Yuan Loans; consensus
Australia:
Economic:
11:30 AEST: NAB Business Confidence; consensus
14:30 AEST: RBA Official Cash Rate; consensus +3.6%
Taiwan:
Economic:
16:00 TST: Export NSA Y/Y; consensus
Market Data:
Gold (Feb 26): +$4.30 or +0.10% to $4222.00
WTI Crude (Jan 26): ($0.04) or (0.07%) to $58.84
$-¥: +0.54 or +0.35% to 155.9100
$-KRW: (5.30) or (0.36%) to 1468.5100
A$-$: (0.00) or (0.29%) to 0.6623
$-INR: +0.18 or +0.20% to 90.1299
$-CNY: +0.00 or +0.01% to 7.0707
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