Jan 29 ,2026
Synopsis:
Asian markets set for negative start to Friday trade. Futures signaling opening decline in Hong Kong and flat start in Japan. Australia firming in initial trade. US contracts flat afterhours following Thursday's tech underperformance. Australian bonds firming, taking cues from overnight strength in Treasuries. FX markets steady after dollar index pulled back. Commodities volatile with gold and silver pushing back towards earlier highs. Crude adding to gains, reaching four-month high. Bitcoin down to two-month low.
Overnight, markets processed volatile tech moves with MSFT experiencing biggest decline since Mar-2020 amid earnings takeaways that focused on underwhelming Azure growth. Commodity volatility the other big story with gold and silver seeing huge intra-day swings before finishing well off best levels. Oil extended surge amid ramp continued ramp in concerns about US military strike on Iran. Dollar unable to sustain post-Bessent rebound amid lingering concern about re-emergence of the debasement trade.
~AAPL~ top line beat estimates and guidance, underpinned by strong iPhone demand amid 38% y/y rebound in China revenue. Q2 revenue guidance also surpassed expectations though CEO Tim Cook flagged iPhone supply constraints due to issues with advanced chip manufacturing and anticipates more significant impact from rising memory prices in Q2. Separately, Apple confirmed it acquired Israeli facial recognition start-up Q.AI though did not disclose purchase price.
In economic developments, Tokyo core inflation slowed by more than expected, reflecting energy subsidy impact, In other news news, US government shutdown appears to have averted after Trump and Democrats reached deal to fund agencies while continue negotiating over restrictions on immigration enforcement operations. Trump signed executive order threatening additional tariffs on countries selling oil to Cuba. US-Canada trade tensions in focus after Trump threatened 50% tariff on Canadian aircraft.
Pre-open Company News:
002670.CH -- Guosheng Securities guides FY net income attributable CNY210.0-280.0M vs year-ago CNY167.4M
500645.IN -- Deepak Fertilisers & Petrochemicals reports Q3 consolidated EPS INR11.21 vs year-ago INR19.86
CJLU.SP -- NetLink NBN Trust reports 9M NPAT SG$65.4M, (12%) vs year-ago SG$74.1M
SMMT -- Summit Therapeutics announces U.S. FDA acceptance of BLA seeking approval for ivonescimab in combination with chemotherapy in treatment of patients with EGFRm NSCLC post-TKI therapy
531344.IN -- Container Corp. of India reports Q3 consolidated profit after tax INR3.29B vs StreetAccount INR3.75B
6268.JP -- Nabtesco upgraded to buy from hold at Jefferies (timing uncertain)
600675.CH -- China Enterprise guides FY net income attributable CNY100-150M vs FactSet CNY648.0M [1 est]
544285.IN -- Swiggy reports Q3 consolidated EPS (INR4.36) vs year-ago (INR3.48)
1668.HK -- China South City Holdings proposes preliminary restructuring terms
2650.HK -- Shanghai Zhida Technology Development forms 40:60 JV with Chery Motor to develop NEV smart charging infrastructure
002262.CH -- Jiangsu Nhwa Pharmaceutical initiates Class III recall of rivastigmine hydrogen tartrate capsules
956.HK -- China Suntien Green Energy reports Q4 power generation 4,443GWh, +3.7% y/y
506943.IN -- JB Chemicals & Pharmaceuticals CFO Narayan Saraf resigns due to personal reasons, effective 30-Jan
601118.CH -- China Hainan Rubber Industry Group guides FY net income attributable (CNY110-74M) vs FactSet CNY158.5M [2 est, CNY104-213M]
300223.CH -- Ingenic Semiconductor guides FY net income attributable CNY370.1-403.0M vs FactSet CNY464.0M [1 est]
On Deck:
Hong Kong:
Earnings:
Hang Lung Group (10.HK), Hang Lung Properties (101.HK)
Japan:
Economic:
08:30 JST: Unemployment Rate; consensus 2.6%
08:30 JST: CPI Tokyo Y/Y; consensus
08:50 JST: Industrial Production SA M/M (Preliminary); consensus (0.5%)
08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +1.2%
14:00 JST: Housing Starts NSA Y/Y; consensus (1.1%)
Earnings:
Shionogi & Co. (4507.JP), Daiichi Sankyo (4568.JP), Sanwa Holdings (5929.JP), HOYA Corp (7741.JP), Mitsui O.S.K. Lines (9104.JP), SMS Co. (2175.JP), NS Solutions (2327.JP), ZEON Corp (4205.JP), Sumitomo Pharma (4506.JP), Niterra Co. (5334.JP), Komatsu (6301.JP), Socionext (6526.JP), Lasertec (6920.JP), SCREEN (7735.JP), Sumitomo Mitsui Trust Group (8309.JP), Nomura Holdings (8604.JP), Tokyo Metro (9023.JP), NS United Kaiun Kaisha (9110.JP), ANA HOLDINGS (9202.JP), Mitsubishi Logistics (9301.JP), Shikoku Electric Power (9507.JP), SCSK Corp (9719.JP), Autobacs Seven (9832.JP), Daito Trust Construction (1878.JP), CHUDENKO (1941.JP), Nippon Densetsu Kogyo (1950.JP), Kyudenko (1959.JP), Nisshin Seifun Group (2002.JP), MIXI, Inc. (2121.JP), Nihon M&A Center Holdings (2127.JP), Seria Co. (2782.JP), Toyo Suisan Kaisha (2875.JP), ZOZO Inc (3092.JP), SAKURA Internet (3778.JP), Tokuyama (4043.JP), Sekisui Jushi (4212.JP), Kissei Pharmaceutical (4547.JP), Eiken Chemical (4549.JP), Toei Animation (4816.JP), TOTO Ltd (5332.JP), Nippon Light Metal Holdings (5703.JP), Kyoto Financial Group (5844.JP), LIXIL Corp. (5938.JP), Makino Milling Machine Co. (6135.JP), Amano Corp. (6436.JP), Max Co. (6454.JP), Meidensha (6508.JP), Wacom Co. (6727.JP), EIZO Corp. (6737.JP), Alps Alpine (6770.JP), Maxell (6810.JP), Tokyo Kiraboshi Financial Group (7173.JP), Koito Manufacturing (7276.JP), Daishi Hokuetsu Financial Group (7327.JP), CCI Group (7381.JP), AS ONE (7476.JP), Argo Graphics (7595.JP), Shoei Co Ltd (7839.JP), Nichiha (7943.JP), ITOCHU ENEX (8133.JP), Resona (8308.JP), Sumitomo Mitsui Financial (8316.JP), The 77 Bank (8341.JP), Hokuhoku Financial Group (8377.JP), San-in Godo Bank (8381.JP), The Awa Bank (8388.JP), ACOM Co. (8572.JP), Orient (8585.JP), Tokai Tokyo Financial Holdings (8616.JP), Heiwa Real Estate (8803.JP), Keisei Electric Railway (9009.JP), Hankyu Hanshin Holdings (9042.JP), Sankyu (9065.JP), The Kansai Electric Power (9503.JP), The Chugoku Electric Power (9504.JP), Tohoku Electric Power Co. (9506.JP), Kyushu Electric Power (9508.JP), Hokkaido Electric Power Co. (9509.JP), Electric Power Development (9513.JP), Tokyo Gas (9531.JP), TOHO GAS (9533.JP), transcosmos (9715.JP), NSD Co. (9759.JP), Inaba Denkisangyo (9934.JP), Ohsho Food Service (9936.JP), MISUMI Group (9962.JP)
South Korea:
Earnings:
Hyundai Steel (004020.KS), Samsung Heavy Industries Co. (010140.KS), Hyundai WIA (011210.KS), HYUNDAI ROTEM (064350.KS), Hana Financial (086790.KS), Hyundai Autoever (307950.KS)
Australia:
Economic:
11:30 AEST: Private Sector Credit M/M; consensus
Earnings:
4DMedical (4DX.AU)
India:
Earnings:
Aegis Logistics (500003.IN), Procter & Gamble Hygiene & Health Care (500459.IN), Nestle India (500790.IN), Tata Investment (501301.IN), Blue Dart Express (526612.IN), Ajanta Pharma (532331.IN), JBM Auto (532605.IN), KEC International (532714.IN), Meesho Ltd. (544632.IN), Exide Industries (500086.IN), Steel Authority of India (500113.IN), LIC Housing Finance (500253.IN), Cholamandalam Investment & Finance (511243.IN), Welspun (532144.IN), Jindal Steel (532286.IN), Glenmark Pharmaceuticals (532296.IN), Triveni Engineering & Industries (532356.IN), NTPC Ltd (532555.IN), Power Grid Corp. of India (532898.IN), Brigade Enterprises (532929.IN), The New India Assurance (540769.IN), Aster DM Healthcare (540975.IN), MedPlus Health Services (543427.IN), DOMS Industries (544045.IN)
Singapore:
Earnings:
Keppel DC REIT (AJBU.SP), CDL Hospitality Trusts (J85.SP), Mapletree Pan Asia Commercial Trust (N2IU.SP)
Taiwan:
Economic:
16:00 TST: GDP NSA Y/Y (Preliminary); consensus +7.2%
Market Data:
Gold (Apr 26): +$89.60 or +1.67% to $5444.40
WTI Crude (Mar 26): +$0.15 or +0.23% to $65.57
$-¥: (0.45) or (0.29%) to 152.9710
$-KRW: (1.51) or (0.11%) to 1428.8600
A$-$: +0.00 or +0.16% to 0.7052
$-INR: (0.27) or (0.30%) to 91.7819
$-CNY: +0.00 or +0.01% to 6.9474
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