Dec 18 ,2025
Synopsis:
Asian markets set for positive start to Friday trade. Futures signaling opening gains in Japan and Hong Kong. Australia higher in initial trade. S&P 500 futures unchanged afterhours following Thursday's tech-led advance. Australian and New Zealand bonds in-line with Treasuries following US CPI downside surprise. FX markets steady with dollar not doing much on major crosses. Crude and gold little changed. Bitcoin down to lowest levels since early December.
Positive leads from tech-led rebound in US, where big tech, semis and AI infrastructure were among best performers. Most of the enthusiasm surrounded MU's beat and raise, sending stock up 10%. Market also welcomed latest OpenAI funding headlines with press sources now flagging valuation of $830B following new fundraising round. Sentiment received added boost from softer-than-expected US CPI that put some traction behind disinflation and lent support to dovish Fed narrative (though market still expected January hold decision).
BOJ widely expected to raise interest rates by 25 bp to 0.75% at Friday's meeting. Governor Ueda's press conference a bigger focus with attention having already shifted to policy stance going forward. Press sources have said BOJ will maintain gradual rate hike trajectory, partly reflecting view 0.75% rate will still leave financial conditions accommodative amid deeply negative real rates. Market also looking for clearer guidance on neutral rate with particular focus on whether BOJ narrows range of estimates from current 1.0-2.5%.
Pre-open Company News:
Goldman Sachs downgrades 1030.HK, 960.HK (pre-Asian open)
2531.JP -- Takara Holdings releases 2025 Integrated Report
524208.IN -- AARTI Industries secures methanol and toluene feedstock supply through multiple long-term contracts
603288.CH -- Foshan Haitian Flavouring & Food to distribute at least 80% of net income attributable as annual dividends in FY25-27
532281.IN -- HCL Technologies to acquire Telco Solutions business from HewlettPackard; terms undisclosed
1999.HK -- Man Wah Holdings acquires US upholstered furniture manufacturer for $58.7M
603288.CH -- Foshan Haitian Flavouring & Food declares FY25 special dividend CNY0.3/share
539448.IN -- InterGlobe Aviation set to operate over 2,200 flights today, in-line with the revised schedule
544162.IN -- Bharti Hexacom CFO Akhil Garg steps down due to movement within Bharti Group, effective 31-Dec
540073.IN -- BLS International Services obtains court order to set aside two-year debarment from tenders of Ministry of External Affairs
2039.HK -- China International Marine Containers (Group) increases H-share on-market buyback announced on 22-May from HK$500M to HK$800M
CRMD -- CorMedix Therapeutics announces data from ongoing real world evidence study of DefenCath
7205.JP -- Hino Motors to sell 80% stakes in five subsidiaries to Hotai Motor ¥27.03B (NT$5.46B) in total
9666.HK -- Boyu Group provides update on mandatory offer for Jinke Smart Services Group
On Deck:
China:
Economic:
08:00 CST: Foreign Direct Investment Y/Y; consensus
Japan:
Economic:
08:30 JST: CPI Core National Y/Y; consensus
08:30 JST: CPI National Y/Y; consensus +3%
08:30 JST: CPI ex-Fresh Food and Energy; consensus +3%
12:00 JST: Japan Policy Rate; consensus +0.8%
Earnings:
NISHIMATSUYA CHAIN (7545.JP)
Australia:
Economic:
11:30 AEST: Private Sector Credit M/M; consensus
Market Data:
Gold (Feb 26): +$1.10 or +0.03% to $4365.60
WTI Crude (Jan 26): ($0.09) or (0.16%) to $56.06
$-¥: (0.17) or (0.11%) to 155.5290
$-KRW: (0.99) or (0.07%) to 1474.3600
A$-$: +0.00 or +0.12% to 0.6612
$-INR: (0.16) or (0.17%) to 90.2613
$-CNY: (0.00) or (0.04%) to 7.0408
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