Jan 07 ,2026
Synopsis:
Asia equities poised for a lower open Thursday. Futures in Japan, Hong Kong, South Korea and Australia all traded moderately lower. Japan ADRs were mixed while Golden Dragon China index fell a sharp 1.58%. US contracts steady near session lows after cash closed mostly lower with negative breadth. Tech leads were softer with SOX index down 0.99% and big tech mostly weaker. US Treasuries were mixed with curve flattening. Dollar index rose 0.1%. WTI crude finished down 2.0% amid latest Venezuela updates. Gold finished down 0.8%. Silver and platinum sold off though dynamics predominantly idiosyncratic. Bitcoin futures fell 1.4%.
Geopolitics dominating headlines again with myriad moving pieces and still seemingly little implication for markets outside of energy (weaker oil, stronger refiners). Latest batch of US data not having much impact on Fed policy expectations with firmer ISM services, slightly softer ADP private payrolls and much weaker JOLTS. Trump social media posts on housing investment (institutional ban on single family house purchases) and defense (won't allow buybacks among defense companies until they step up production to meet government demand) were notable sources of volatility. Breaking news aside, attention remains on US employment data Friday, upcoming Fed chair pick and Q4 earnings (major bank results due next week) as the main risk events.
In regional developments, India government advance estimates projected GDP growth of 7.4% in the year through March, largely in line. While still the leader among largest economies, risks stem from US tariff overhang and technical methodology revisions in February. Still a lot of attention on Sino-Japan frictions and ongoing speculation Beijing may follow up its dual-use export ban against Japan with rare earth restrictions. NRI estimated a three-month restriction similar to the prior precedent in 2010 would pose a drag of 0.1% on annual GDP. Some discussion of Japan's retaliatory options through tighter controls of exports of products where Jit has comparative advantages over China, though tit-for-tat strategy runs the risk of exacerbating tensions further.
Pre-open Company News:
000598.CH -- Chengdu Xingrong Environment chairman Liu Lang resigns due to work arrangements, effective immediately
AEONTS.TB -- AEON Thana Sinsap (Thailand) Public reports Q3 net profit attributable THB618.3M, (22%) vs year-ago THB788.6M
2327.TT -- Yageo reports December revenue NT$12.35B, +29.7% y/y
543235.IN -- Angel One to consider stock split at its 15-Jan board meeting
2675.HK -- Shenzhen Edge Medical prices 27.7M-share Hong Kong IPO at HK$43.24/share
543412.IN -- Star Health & Allied Insurance upgraded to accumulate from hold at Geojit Financial
002294.CH -- Shenzhen Salubris Pharmaceuticals receives NMPA acceptance notice for SAL0145 injection clinical trial for treatment of MASH
2376.TT -- Gigabyte Technology reports December revenue NT$30.31B, +72.2% y/y
2201.JP -- Morinaga & Co. releases 2025 Integrated Report
532514.IN -- Indraprastha Gas upgraded to hold from reduce at Prabhudas Lilladher
7201.JP -- Nissan Motor upgraded to outperform from underperform at CLSA
2801.TT -- Chang Hwa Commercial Bank reports December PBT NT$1.01B, StreetAccount notes the year-ago figure was NT$1.45B
2238.HK -- Guangzhou Automobile Group reports December vehicle production 165K vs year-ago 207K
600383.CH -- Gemdale Corp. reports December contracted sales CNY2.40B, (54.5%) y/y
1996.HK -- Redsun Properties Group reports December contracted sales CNY150M; StreetAccount notes the year-ago figure was CNY802M
On Deck:
China:
Economic:
08:00 CST: New Yuan Loans; consensus
08:00 CST: M2 NSA Y/Y; consensus
08:00 CST: Loan Growth Y/Y; consensus
Japan:
Earnings:
Seven & I Holdings (3382.JP), TSURUHA Holdings (3391.JP), DISCO Corp. (6146.JP), AEON Financial Service (8570.JP), FAST RETAILING (9983.JP), OSG Corp (6136.JP), Sugi Holdings (7649.JP), Onward Holdings (8016.JP), AEON Co. (8267.JP), Arcs Co. (9948.JP)
Australia:
Economic:
11:30 AEST: Trade Balance on Goods; consensus
India:
Earnings:
Elecon Engineering (505700.IN)
Market Data:
Gold (Feb 26): +$8.70 or +0.19% to $4471.20
WTI Crude (Feb 26): +$0.33 or +0.59% to $56.32
$-¥: +0.07 or +0.04% to 156.7440
$-KRW: +0.06 or +0.00% to 1446.8630
A$-$: (0.00) or (0.24%) to 0.6722
$-INR: (0.20) or (0.22%) to 89.9150
$-CNY: +0.01 or +0.18% to 6.9963
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