Feb 23 ,2026
Synopsis:
Asian markets set for negative start to Tuesday trade. Futures signaling opening declines in Japan and Hong Kong. Australia up slightly in initial trade. S&P 500 futures inching higher afterhours following Monday's tech-led decline. Australian bonds firming after Treasury curve bull flattened amid broader the risk-off trade. FX markets steady after dollar fluctuated against majors. Crude flat while gold and silver extending recent upside. Bitcoin stabilizing after sliding to early February lows.
AI disruption trade in focus following Citrini note spelling out scenario where AI agents displace business models predicated on intermediation and trigger PE-backed software defaults over coming years. IGV index fell another 5%. Outsized attention to the note revived market's tendency to 'shoot first, ask questions later', inviting more arguments that markets too headline-driven and overhyping AI disruption potential. Other major focus was IBM, which fell 13% for its worst day since 2000 after Anthropic's Claude announced capabilities in COBOL.
Markets dealing with fresh trade uncertainty following SCOTUS ruling striking down IEEPA tariffs. President Trump immediately reimposed 15% global tariff under separate trade authority and announced several other trade investigations as White House looks to restore effective tariff rate. Most US trading partners issued reacted cautiously to the developments in adopting wait-and-see approach rather than taking opportunity to revisit trade deals. Trump also warned countries that "play games" will be hit with much higher tariffs than before.
Mainland China markets resume trade following LNY holiday. Hang Seng China Enterprises index rallied 3% Monday with sentiment boosted by US tariff ruling that resulted in estimated 7-8% cut to China's average tariff rate. Mainland markets will also react to holiday spending and travel metrics with more comprehensive data to be released Tuesday. Early figures from Ministry of Commerce showed average daily sales at retail and catering firms rose 8.6% y/y while foot traffic and sales revenue at key retail districts increased more than 4%.
Pre-open Company News:
AIY.SP -- iFAST Corp. COO Wong Soon Shyan to retire, effective 28-Feb
8C8U.SP -- Centurion Accommodation REIT reports FY amount to be distributed SG$30.0M vs forecast SG$28.1M
BofA upgrades 042700.KS, 522.HK, 6239.TT
THG.TB -- Thonburi Healthcare Group Public reports FY net income attributable THB96.2M vs year-ago (THB1.76B)
539437.IN -- Transcript Intelligence: IDFC First Bank Business Update Call
CKP.TB -- CK Power Public declares dividend THB0.088/share
CPN.TB -- Central Pattana Public declares final dividend THB2.40/share; StreetAccount notes year-ago figure was THB2.10/share
WHART.TB -- Wha Premium Growth Freehold & Leasehold Real Estate Investment reports FY increase in net assets from operation THB2.35B, +22% vs year-ago THB1.92B
AWZ.SP -- Multi-Chem reports FY net income attributable SG$12.2M vs year-ago SG$14.4M
CKP.TB -- CK Power Public reports FY net income attributable THB2.78B vs FactSet THB2.20B [8 est, THB1.44-3.25B]
603605.CH -- Proya Cosmetics initiated outperform at Haitong
065350.KS -- SHINSUNG DELTA TECH reports FY operating profit KRW31.65B, +16% vs year-ago KRW27.18B
On Deck:
China:
Economic:
08:00 CST: Foreign Direct Investment Y/Y; consensus
09:30 CST: 1 Year Loan Prime Rate; consensus
09:30 CST: 5 Year Loan Prime Rate; consensus
Hong Kong:
Earnings:
SmarTone Telecommunications Holdings (315.HK)
Australia:
Earnings:
Ingenia Communities (INA.AU), Bapcor (BAP.AU), Growthpoint Properties Australia (GOZ.AU), IVE Group (IGL.AU), Epiminder (EPI.AU), ARN Media (A1N.AU), Acrow Ltd. (ACF.AU), Accent Group (AX1.AU), Big River Industries (BRI.AU), Centuria Capital (CNI.AU), Duratec (DUR.AU), Elevra Lithium (ELV.AU), EML Payments (EML.AU), Energy One (EOL.AU), Flight Centre (FLT.AU), Fleetwood (FWD.AU), Generation Development Group (GDG.AU), Gemlife Communities Group (GLF.AU), Helia Group (HLI.AU), Helloworld Travel (HLO.AU), Imricor Medical Systems (IMR.AU), IRESS (IRE.AU), K&S Corp. (KSC.AU), L1 Group (L1G.AU), McPherson's (MCP.AU), NextEd Group (NXD.AU), Resimac Group (RMC.AU), Steadfast Group (SDF.AU), Sea Forest Ltd (SEA.AU), Veem Ltd (VEE.AU), Wagners Holding (WGN.AU)
New Zealand:
Earnings:
Millennium & Copthorne Hotels New Zealand (MCK.NZ), Scales Corp. (SCL.NZ), Ebos Group (EBO.NZ), Steel & Tube Holdings (STU.NZ)
India:
Earnings:
Schaeffler India (505790.IN)
Malaysia:
Earnings:
Petronas Dagangan (5681.MK), MISC Bhd (3816.MK)
Singapore:
Earnings:
United Overseas Bank Ltd. (Singapore) (U11.SP), SembCorp Industries (U96.SP), Singapore Airlines (C6L.SP), Genting Singapore (G13.SP), Ho Bee Land (H13.SP), Delfi (P34.SP), SBS Transit (S61.SP)
Taiwan:
Earnings:
LARGAN Precision (3008.TT), Unimicron Technology (3037.TT), Nan Ya Printed Circuit Board (8046.TT), ChipMOS Technologies (8150.TT)
Thailand:
Earnings:
Betagro Public (BTG.TB)
Market Data:
Gold (Apr 26): +$29.70 or +0.57% to $5255.30
WTI Crude (Apr 26): ($0.02) or (0.03%) to $66.29
$-¥: (0.43) or (0.28%) to 154.6170
$-KRW: (2.96) or (0.20%) to 1442.2100
A$-$: (0.00) or (0.32%) to 0.7061
$-INR: +0.30 or +0.33% to 91.0271
$-CNY: (0.00) or (0.01%) to 6.9078
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