Feb 25 ,2026
Synopsis:
Asian markets set for positive start to Thursday trade. Futures signaling opening gains in Japan and Hong Kong. Australia higher in initial trade. US contracts unchanged with NVDA erasing afterhours gains following earnings. Australian yield curve bull flattening, contrasting with mild Treasury weakness overnight. FX markets steady after dollar neared early February high against yen. Crude up from earlier lows while gold and silver pulling back. Bitcoin touched $70K before retreating.
NVDA delivered a widely expected beat and raise. Flagged upside to $500B Blackwell and Rubin revenue pipeline (which Street was expecting). CEO Haung struck usual bullish tone, noting compute demand rising exponentially. Network sales a highlight (up 263%). Voiced confidence in hyperscaler cash flow generation amid ongoing scrutiny surrounding capex ramp. Chip supply tight, but confident enough to meet demand (though gaming faces constraints). Said close to agreement with OpenAI (following reports it will invest ~$30B in OpenAI). Acknowledged rising competitive threat from China AI firms while voicing doubts about H200 sales.
In latest trade developments, USTR Greer said President Trump will soon sign executive order formalizing 15% tariff "where appropriate." Noted 10% global tariff is currently in effect and suggested White House's latest tariff policy would not leave countries with trade deals worse off. Most Asian countries recently signaled they will abide by trade deals. However, China, one of the big winners from US tariff ruling, warned Wednesday it would respond if US imposed new tariffs as a result of trade probes launched in wake of Friday's SCOTUS ruling.
Central banks another focus. In Yomiuri interview, BOJ Governor Ueda downplayed impact of latest US tariff announcements on Japan while reiterating core stance policy adjustments will continue if confidence in achieving economic outlook rises. In fireside chat RBA Governor Bullock conceded more difficult making policy judgement amid uncertainty about extent of tightness in economy. BOK expected to leave interest rates unchanged amid financial stability considerations from house prices and exchange rate, and upside risks to growth and inflation.
Pre-open Company News:
YAL.AU -- Yancoal Australia reports measured, indicated and inferred coal resources attributable as at 31-Dec 4,400Mt, unchanged vs year-ago
CPALL.TB -- CP All Public reports FY net income attributable THB28.21B vs FactSet THB28.01B [25 est, THB26.21-29.04B]
41.HK -- Great Eagle Holdings declares special dividend 1 Langham Hospitality SSU for every 15 shares
TKN.TB -- Taokaenoi Food & Marketing Public appoints Kwanchai Asanee as co-CEO, effective 1-Mar
ER0.SP -- KSH Holdings subsidiary accepts LOA for new construction project of more than SG$503M
002831.CH -- YUTO Packaging Technology to buy 60% stake in Gelbert Eco Print for €6.5M (CNY52.7M)
F03.SP -- Food Empire Holdings reports FY net income attributable $36.0M, (31%) vs year-ago $52.5M
688200.CH -- Beijing Huafeng Test & Control Technology reports preliminary FY net income attributable CNY538.3M vs FactSet CNY535.7M [10 est, CNY508-593M]
2308.TT -- Delta Electronics reports Q4 EPS NT$6.67 vs FactSet NT$7.52 [19 est, NT$6.37-8.50]
540719.IN -- SBI Life Insurance declares interim dividend INR2.70/share; record 6-Mar, payable 27-Mar
2303.TT -- United Microelectronics declares FY dividend NT$2.6/share; StreetAccount notes year-ago was NT$2.85/share
2327.TT -- Yageo declares FY dividend NT$6/share
SCC.TB -- The Siam Cement Public to recognize THB300M after tax gain from sale of entire 50% stake in PT. Siam Maspion Terminal
CHZ.SP -- HRnetGroup reports FY PATMI SG$51.2M, +15% vs year-ago SG$44.5M
On Deck:
China:
Economic:
08:00 CST: Foreign Direct Investment Y/Y; consensus
Earnings:
Intchains (ICG)
Hong Kong:
Earnings:
Sun Hung Kai Properties (16.HK), Sun Hung Kai Properties (16.HK), Galaxy Entertainment Group (27.HK), Hong Kong Exchanges & Clearing (388.HK), Hysan Development (14.HK), CLP Holdings (2.HK), JNBY Design (3306.HK), JNBY Design (3306.HK), CTF Services (659.HK), CTF Services (659.HK), IFBH (6603.HK)
Japan:
Economic:
14:00 JST: Leading Index (Final); consensus
South Korea:
Economic:
11:10 KST: BoK Repo Rate; consensus +2.50%
Earnings:
Korea Electric Power (015760.KS), SILICON 2 Co. (257720.KS), Korea Gas (036460.KS)
Australia:
Economic:
11:30 AEST: Capital Expenditure Q/Q; consensus
Earnings:
Clinuvel Pharmaceuticals (CUV.AU), Australian Unity Office Fund (AOF.AU), betr Entertainment (BBT.AU), Cettire (CTT.AU), Energy Transition Minerals (ETM.AU), Karoon Energy (KAR.AU), Objective Corp. (OCL.AU), RAM Essential Services Property Fund (REP.AU), Bathurst Resources (BRL.AU), Coles Group (COL.AU), Kina Securities (KSL.AU), Mach7 Technologies (M7T.AU), Macquarie Technology Group (MAQ.AU), Mesoblast (MSB.AU), PEXA Group (PXA.AU), Shine Justice (SHJ.AU), TPG Telecom (TPG.AU), Virgin Australia Holdings (VGN.AU)
New Zealand:
Earnings:
Channel Infrastructure NZ (CHI.NZ), Delegat Group (DGL.NZ)
Singapore:
Earnings:
Sasseur REIT (CRPU.SP), Acrophyte Hospitality Trust (XZL.SP), City Developments (C09.SP), Singapore Technologies Engineering (S63.SP), Aztech Global (8AZ.SP), Golden Agri-Resources (E5H.SP), Wilmar International (F34.SP), UOL Group (U14.SP), IREIT Global (UD1U.SP), UltraGreen.ai Limited (ULG.SP), Venture (V03.SP)
Taiwan:
Earnings:
HIWIN Technologies (2049.TT), Compal Electronics (2324.TT), Quanta Computer (2382.TT), Chang Hwa Commercial Bank (2801.TT), Far EasTone Telecommunications (4904.TT)
Thailand:
Earnings:
Bangkok Commercial Asset Management Public (BAM.TB)
Market Data:
Gold (Apr 26): ($40.50) or (0.77%) to $5185.70
WTI Crude (Apr 26): +$0.21 or +0.32% to $65.63
$-¥: +0.32 or +0.21% to 156.2310
$-KRW: (13.34) or (0.93%) to 1428.0800
A$-$: +0.01 or +0.83% to 0.7117
$-INR: (0.00) or (0.00%) to 90.9515
$-CNY: (0.02) or (0.23%) to 6.8685
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