Jan 12 ,2026
Synopsis:
Asian markets set for positive start to Tuesday trade. Futures signaling opening rally in Japan. Hong Kong seen building on Monday's gains. ASX also higher in initial trade. S&P 500 futures unchanged afterhours. Australian bonds firming after Treasury yields ended up 1-2 bp. FX markets steady after dollar retreated amid Fed independence concerns. Crude rebounding following Trump tariff threat on Iran trading partners. Gold pulling back from record high. Industrial metals under some pressure. Bitcoin remains range bound around $90K.
US markets shook off latest concerns about threat to Fed independence after DOJ launched probe into Chair Powell over headquarter renovation cost overrun. Developments revived 'sell America' narrative that briefly spooked markets last year, though pushback from some GOP senators (and warnings about blocking any nominees) offered some stabilization with stocks ending higher while Treasuries and dollar sustained only mild losses.
President Trump threatened to impose 25% tariffs on countries doing business with Iran. Unclear how serious Trump's threat is with India and China among Iran's largest trading partners. US is currently working to finalize trade deal with India while 25% tariff on China risks inflaming trade tensions following October's trade truce. A day after Trump said US military considering options for Iran, press sources say White House weighing Tehran's proposal to negotiate over nuclear program.
In other trade developments, press sources said Trump administration close to trade deal with Taiwan that could see tariff rate lowered from 20% to 15%. TSMC (2330.TT) would also commit to construction of five new factories in US. US and India set for more trade talks Tuesday. In economic news, India CPI rebounded due to food price volatility, though below-target inflation seen keeping alive prospect of another rate cut. New Zealand business survey showed confidence rose 12-year high amid rising economic optimism following aggressive RBNZ rate cuts.
Pre-open Company News:
3661.TT -- Alchip Technologies reports December revenue NT$1.38B, (69.3%) y/y
1795.TT -- Lotus Pharmaceutical reports December revenue NT$2.44B, +66.9% y/y
6993.HK -- Blue Moon Group Holdings guides not less than 50% reduction in FY net loss attributable
489.HK -- Dongfeng Motor Group reports December vehicle production 231,656 vs year-ago 200,228
539254.IN -- Adani Energy Solutions reports Q3 AEML unit sales 2487 MUs vs year-ago 2574 MUs
600276.CH -- Jiangsu Hengrui Pharmaceuticals receives NMPA clinical trial approval for additional indication of HRS-7535 for hypertension with overweight or obesity
601933.CH -- Yonghui Superstores guides FY25 net income attributable loss
5218.MK -- Larsen & Toubro to acquire remaining 40% stake in L&T Sapura Shipping from Sapura Nautical Power for INR1.22B ($13.6M/MYR55.0M)
688375.CH -- Guobo Electronics appoints Tao Hongqi as chairman, effective immediately
1093.HK -- CSPC Pharmaceutical Group receives NMPA marketing approval for prusogliptin and metformin extended-release tablets
543415.IN -- Anand Rathi Wealth reports Q3 consolidated EPS (cont. ops) INR12.06 vs year-ago INR9.28
1109.HK -- China Resources Land reports December gross contracted sales CNY41.00B, +28.1% y/y
300782.CH -- Maxscend Microelectronics guides FY net income attributable (CNY295.0-255.0M) vs FactSet (CNY132.2M) [5 est, (CNY143.0)-(CNY122M)]
4904.TT -- Far EasTone Telecommunications reports December revenue NT$11.34B, +13.5% y/y
1478.HK -- Q Technology (Group) reports December camera module sales 45.9M units, +10.0% m/m, +43.6% y/y
On Deck:
China:
Economic:
08:00 CST: Loan Growth Y/Y; consensus
08:00 CST: M2 NSA Y/Y; consensus
08:00 CST: New Yuan Loans; consensus
Japan:
Economic:
08:50 JST: Bank Loans NSA Y/Y; consensus
Earnings:
IDOM Inc (7599.JP), Sakata Seed (1377.JP), Tama Home (1419.JP), DIP Corp (2379.JP), PAL GROUP Holdings (2726.JP), Create SD Holdings (3148.JP), COSMOS Pharmaceutical (3349.JP), Kasumigaseki Capital (3498.JP), Takeuchi Mfg. (6432.JP), Life Corp. (8194.JP), Izumi Co. (8273.JP)
India:
Earnings:
Bank of Maharashtra (532525.IN), Just Dial (535648.IN)
Market Data:
Gold (Feb 26): ($21.90) or (0.47%) to $4592.80
WTI Crude (Feb 26): +$0.32 or +0.54% to $59.82
$-¥: +0.14 or +0.09% to 158.0280
$-KRW: +7.80 or +0.54% to 1465.0300
A$-$: +0.00 or +0.31% to 0.6708
$-INR: (0.02) or (0.02%) to 90.1539
$-CNY: (0.01) or (0.07%) to 6.9722
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