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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (3.10%), Hang Seng Futures (1.02%), ASX SPI 200 (3.29%), S&P Futures (1.72%)

Mar 08 ,2026

  • Synopsis:

    • Asia equities set to open sharply lower Monday. Futures in Japan and South Korea sold off 3% while Australia opened down more than 3% and Hong Kong contracts also notably weaker. Japan ADRs were skewed to losses while Golden Dragon China index rose moderately. US futures down sharply again following a weak Friday session to cap off sharp losses for the week. Friday sector breadth notably negative with consumer staples and energy the only gainers while most others fell sharply. Tech leads were also soft with SOX index down a sharp 3.93% and most US big tech lower and all Mag 7 posting declines. US Treasuries were mixed though yields ended the week sharply higher. Dollar index firmer to start the week. Crude oil futures surging again with both WTI and Brent surpassing $100 per barrel for the first time since 2022. Gold moderately lower. Bitcoin down sharply.

    • Spike in crude oil prices on the back of Middle East supply disruptions dominated attention. Underlying sentiment driven by dwindling hopes for a near-term resolution to regional conflict. Markets were already bracing for crude prices topping $100 per barrel. Qatar warned all Gulf producers may have to shut down production within days, a dynamic that could drive oil to $150. Several countries already being forced to adjust output due to storage capacity constraints. US set to announce $20B reinsurance facility to restart shipping. While initially a source of encouragement, securing passage through Strait of Hormuz seen as the only real resolution. In breaking news, Iran appointed Mojtaba Khamenei as supreme leader, a move US President Trump has said would be unacceptable.

    • Inflation implications constraining Fed rate cut expectations. US retail fuel prices already jumped by double digits last week and risks to the outlook skewed to the upside, exacerbated by domestic seasonal factors. However, disappointing payrolls figures reinforced perceptions of the fragility of economic growth momentum, placing attention on how Fed will navigate stagflationary conditions. Monetary policy challenges extend to other central banks, including in Asia. Some thoughts central banks would typically look through oil volatility if underlying inflation had been benign. But with the latter elevated and/or sticky in many regions alongside weaker local currencies reflecting haven demand, current oil developments will be more difficult to explain away.

    • Press continued to monitor Beijing's rhetoric on Iran developments for signs that US action may trigger a flare-up in tensions ahead of the Trump-Xi meeting this month. Foreign Minister Wang Yi at the NPC stressed bilateral dialogue is vital to prevent misunderstandings. Reiterated protests against military action on Iran though did not go beyond prior official statements. China Commerce Ministry on Saturday raised the possibility of another global chip supply chain crisis due to new conflicts over Nexperia. US tariff policy uncertainties persist as Japan's urges to the US not to impose higher tariffs under the new framework still indicates they haven't received assurances the 'non-stacking' provision would be maintained. South Korea under the impression a US tariff hike is unlikely as longs as parliament US investment legislation.

  • Pre-open Company News:

    • 2582.HK -- Jiangsu Guofu Hydrogen Energy Equipment guides FY loss attributable to owners (HK$390M) to (HK$250M)

    • 6808.HK -- Sun Art Retail Group Chairman Julian Wolhardt to also assume CEO role

    • 6273.JP -- SMC Corp upgraded to outperform at Okasan Securities, we're told

    • U96.SP -- SembCorp Industries responds to media reports that there has been damage to UAE's Fujairah F1 power and water plant

    • 6503.JP -- Mitsubishi Electric upgraded to neutral from sell at UBS

    • 2257.HK -- Sirnaomics reports partial completion of Subscription agreement took place on 7-Mar and 2.5M shares were issued to the Subscriber A at HK12/sh

    • 4151.JP -- Kyowa Kirin downgraded to underweight from equal-weight at Morgan Stanley

    • 173.HK -- K. Wah International Holdings guides FY net income attributable (HK$900M) vs year-ago HK$335M

    • 1282.HK -- Renze Harvest International divests residential properties for HK$52.8M

    • 6856.JP -- Horiba holder Oasis Management to vote againt reappointment of Atsushi Horiba as Chairman and CEO at AGM

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: M2 NSA Y/Y; consensus +8.7%

        • 08:00 CST: New Yuan Loans; consensus

        • 08:00 CST: Loan Growth Y/Y; consensus

        • 09:30 CST: CPI NSA Y/Y; consensus +0.8%

        • 09:30 CST: PPI NSA Y/Y; consensus (1%)

    • Hong Kong:

      • Earnings:

        • Hutchison Telecommunications Hong Kong Holdings (215.HK), Asia Cement (China) Holdings (743.HK)

    • Japan:

      • Economic:

        • 08:50 JST: Bank Loans NSA Y/Y; consensus

        • 14:00 JST: Leading Index (Preliminary); consensus

    • Taiwan:

      • Economic:

        • 16:00 TST: Export NSA Y/Y; consensus +43%

    • Philippines:

      • Earnings:

        • ACEN Corp. (ACEN.PM)

  • Market Data:

    • Gold (Apr 26): ($46.00) or (0.89%) to $5112.70

    • WTI Crude (Apr 26): +$15.88 or +17.47% to $106.78

    • $-¥: +0.45 or +0.29% to 158.2400

    • $-KRW: (0.28) or (0.02%) to 1484.2900

    • A$-$: (0.01) or (0.92%) to 0.6966

    • $-INR: +0.01 or +0.01% to 91.9403

    • $-CNY: (0.00) or (0.01%) to 6.8958

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to "Terms Of Use".

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