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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.82%, Hang Seng Futures +0.72%, ASX SPI 200 +0.03%, S&P Futures +0.05%

Jan 08 ,2026

  • Synopsis:

    • Asia equities poised to open mostly higher Friday. Futures in Japan, Hong Kong and Australia traded firmer, while South Korea marginally lower. Almost all Japan ADRs advanced, while Golden Dragon China index rose a solid 1.09%. US contracts little changed after a mostly higher close in the cash session that saw notably positive breadth. Energy and defense continued to outperform. But tech leads were negative with Nasdaq lagging among the main benchmarks, SOX index down 1.83% and big tech mostly lower. US Treasuries were weaker with slight curve steepening. Dollar index was up 0.2%. Gold finished little changed. Silver ended down 3.2% (rebalancing pressure flagged). Bitcoin futures were down 0.2%. WTI crude settled up 3.2%.

    • Growing debate over whether recent signs of market softness represent a mere pause ahead of key risk events or the start of a more genuine sea change in sentiment in light of a new phase of uncertainty. Latter scenario plays into evidence of defensive rotation and small cap outperformance. US payrolls data remains the immediate focus, though market radar also dotted with several other potential catalysts. Latest Fed policy rhetoric dovish -- Bessent reiterated rates should be lower, Miran advocated 150 bp in rate cuts this year. Supreme Court ruling on IEEPA tariffs coming to fore with a decision to come as early as Friday. Bloomberg reported the list of companies participating in the litigation has surged beyond 1,000. On the Fed chair nomination, Treasury Secretary Bessent suggested Trump may decide around the Davos forum scheduled for Jan 19-23. Major bank results next week to mark the first major checkpoint in Q4 earnings.

    • Some reverberations from a report last night indicating China plans to approve some Nvidia (NVDA) H200 imports as soon as Q1. Follows recent remarks by Nvidia that China demand is strong, though amid ongoing lack of clarity over when/how Beijing would allow purchases amid policy guidance encouraging tech firms to procure domestic chips. With rare earths back in the spotlight after China banned dual-use exports to Japan, White House trade adviser Navarro predicted US innovation would "quickly wipe away" China's dominance in the field though there were no specifics. China Commerce Ministry reassured ban will only affect Japanese military firms, yet pressure tactics continue elsewhere; customs clearance for Japanese alcoholic beverages and food products reportedly being delayed, Commerce Ministry on Wednesday launched an anti-dumping probe into special gases used in the production of semiconductors and LCDs.

  • Pre-open Company News:

    • 6488.TT -- GlobalWafers reports December revenue NT$5.51B, +0.3% y/y

    • 2196.HK -- Shanghai Fosun Pharmaceutical (Group)'s drug registration application for Foritinib Succinate Capsules accepted by NMPA

    • 1777.HK -- Fantasia Holdings Group to seek Cayman Islands court order to convene scheme meeting

    • 532522.IN -- Ministry of Petroleum & Natural Gas nominates secretary Neeraj Mittal to Petronet LNG board succeeding Pankaj Jain

    • L'Oreal, Kering among companies maintaining Triple A ranking in CDP's 2025 climate disclosure list (8-Jan)

    • 1238.HK -- Powerlong Real Estate Holdings reports December contracted sales CNY607M; StreetAccount notes the year-ago figure was CNY1.05B

    • 6669.TT -- Wiwynn reports Q4 EPS NT$74.21 vs FactSet NT$68.29 [14 est, NT$55.50-83.22]

    • 3037.TT -- Unimicron Technology reports December revenue NT$11.82B, +26.9% y/y

    • 4503.JP -- Astellas discloses new ad hoc analyses of VYLOY (zolbetuximab) plus chemotherapy when common adverse events are effectively managed

    • 300498.CH -- Wen's Foodstuff Group guides FY net income attributable CNY5.00-5.50B vs FactSet CNY7.04B [15 est, CNY5.00-9.65B]

    • Hong Kong stock connect daily turnover

    • 11.HK -- HSBC Holdings announces Hang Seng Bank shareholders approve privatisation proposal

    • 2186.HK -- Luye Pharma Group's NDA for new indication of Ruoxinlin accepted by NMPA

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: M2 NSA Y/Y; consensus

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: Loan Growth Y/Y; consensus

        • 09:30 CST: PPI NSA Y/Y; consensus

        • 09:30 CST: CPI NSA Y/Y; consensus (0.2%)

    • Japan:

      • Economic:

        • 08:30 JST: Real Household Consumption Expenditure Y/Y; consensus

        • 08:30 JST: Real Household Income Y/Y; consensus

        • 08:50 JST: FX Reserves M/M; consensus

        • 14:00 JST: Leading Index (Preliminary); consensus

      • Earnings:

        • Jins Holdings (3046.JP), Rorze Corp (6323.JP), YASKAWA Electric (6506.JP), Kohnan Shoji (7516.JP), Nomura Co. (9716.JP), Belc Co. (9974.JP)

    • New Zealand:

      • Earnings:

        • Summerset Group Holdings (SUM.NZ)

    • Taiwan:

      • Economic:

        • 16:00 TST: Export NSA Y/Y; consensus +53.7%

  • Market Data:

    • Gold (Feb 26): +$26.10 or +0.59% to $4486.80

    • WTI Crude (Feb 26): +$0.60 or +1.04% to $58.36

    • $-¥: +0.13 or +0.09% to 156.9020

    • $-KRW: +0.76 or +0.05% to 1450.4720

    • A$-$: (0.00) or (0.34%) to 0.6699

    • $-INR: +0.04 or +0.04% to 89.9465

    • $-CNY: (0.01) or (0.21%) to 6.9828

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