Mar 03 ,2026
Synopsis:
Asian markets set for negative start to Wednesday trade. Futures signaling opening losses in Japan and Hong Kong as Australia declines for a third session. S&P 500 futures lower afterhours following Tuesday's risk-off session. Australian bonds weaker at the front end ahead of GDP data. Treasuries weakened across the curve overnight with yields up 1-2 bp. FX markets steady after dollar index reached Nov-2025 highs. Crude turning up after retreating from earlier highs. Gold little changed. Bitcoin continues to fluctuate below $70K.
Iran war a key driver of market sentiment with most of the focus on Strait of Hormuz shipping disruptions, Iranian attacks against Middle East energy facilities and impact on gas/crude output. Another surge in gas and crude prices contributed to further backup in bond yields, though these came off earlier highs after President Trump said US may aid tanker traffic through Hormuz via insurance support and/or naval escorts. However, still no clear picture on extent to which energy flows will be impacted and how long conflict will last.
China PMIs to provide initial snapshot of economic activity in February, though distorted by factory shutdowns over LNY. Manufacturing decline forecast to have worsened while non-manufacturing seen contracting at a slightly narrower pace. RatingDog PMI also expected to show factory activity deteriorated last month. Australia GDP growth forecast to have risen over Q1, reflecting stronger contributions from public demand and inventories. Data may shape near-term policy expectations after Governor Bullock on Tuesday said March meeting is 'live.'
Pre-open Company News:
688578.CH -- Shanghai Allist Pharmaceuticals guides Q1 net income attributable CNY590.0M vs year-ago CNY410.5M
PHO.NO -- PhotoCure's partner Asieris Pharmaceuticals receives approval for the commercial launch of APL-1702 (CEVIRA) in China
2431.HK -- Minieye Technology partners with CATL on intelligent vehicles and autonomous driving
543245.IN -- Gland Pharma CEO Shyamakant Giri resigns to pursue new opportunities, effective 30-Apr
6699.HK -- Angelalign Technology guides FY net income $24-30M vs FactSet $21.9M [4 est, $12-32.2M]
1112.HK -- Health & Happiness (H&H) International Holdings guides FY adjusted net income to increase by 15-25% y/y; implying CNY622.4-676.5M vs FactSet CNY614.0M
2343.HK -- Pacific Basin Shipping reports FY underlying profit $59.2M vs FactSet $77.5M
2343.HK -- Pacific Basin Shipping launches up to $40M share buyback to run until 31-Dec
200550.CH -- Jiangling Motors reports February vehicle production 21,458, (4.4%) y/y
2317.TT -- Hon Hai Precision Industry outlines 5-year sustainability roadmap
D01.SP -- DFI Retail Group Holdings reports FY underlying net income attributable $270.3M vs guidance $250-270M and FactSet $264.3M
968.HK -- Xinyi Solar Holdings upgraded to neutral from sell at Goldman Sachs
XNET -- Xunlei Limited announces entry into definitive agreements for disposition of majority equity interest In Shenzhen Onething
005380.KS -- Hyundai Motor America reports U.S. sales of 65,677 units, +6% vs year-ago 62,032
544283.IN -- ACME Solar Holdings commissions second phase of BESS Project in Sanwara/Mehar Nagar
On Deck:
China:
Economic:
09:30 CST: CFLP Non Manufacturing PMI; consensus 49.5
09:30 CST: CFLP PMI Manufacturing; consensus 49.5
09:30 CST: CFLP Services PMI; consensus
Hong Kong:
Earnings:
ASMPT (522.HK), Uni-President China Holdings (220.HK)
Australia:
Economic:
11:30 AEST: GDP SA Q/Q; consensus +0.6%
11:30 AEST: GDP Y/Y; consensus +2.2%
11:30 AEST: GDP SAAR Q/Q; consensus +1.9%
Taiwan:
Earnings:
U-Ming Marine Transport (2606.TT), First Financial Holding (2892.TT), momo.com (8454.TT)
Market Data:
Gold (Apr 26): +$10.60 or +0.21% to $5134.30
WTI Crude (Apr 26): +$0.76 or +1.02% to $75.32
$-¥: +0.32 or +0.21% to 157.6840
$-KRW: +21.20 or +1.46% to 1475.1800
A$-$: (0.01) or (0.79%) to 0.7039
$-INR: +0.44 or +0.48% to 92.0102
$-CNY: +0.02 or +0.24% to 6.8992
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