Mar 22 ,2026
Synopsis:
Asian markets set for negative start to Monday trade. Futures signaling steep opening declines in Japan and Hong Kong. Australia also sharply lower in initial trade. S&P 500 futures extending Friday declines after US indexes logged fourth-straight weekly loss. Another surge in Australian and New Zealand bond yields, mirroring Treasury selloff. Crude little changed following Friday bounce while gold and silver continue to pull lower. Dollar backing off against majors. Bitcoin down to two-week low.
Iran conflict threatening to escalate after Trump gave 48-hour deadline to reopen Strait of Hormuz or US would begin striking Iran's power plants, prompting Tehran to threaten retaliation againstGulf energy, IT and desalination infrastructure. Some skepticism whether threats will be carried out given consequences and Bessent said sometimes have to escalate to deescalate. Signs US allies moving towards providing support to reopen Strait of Hormuz as US continues military efforts to unblock the waterway with strikes along shoreline, and more reports Trump weighing troop deployment.
Also making headlines, South Korea President Lee nominated BIS chief economist Shin Hyun-song as next BOK governor. Shin, described as hawkish leaning, vowed "balanced" policy approach. Not much new from China Development Forum, where leaders pledged more balanced trade in remarks to global CEOs. PBOC Governor Pan reaffirmed a "moderately loose" policy stance via tools such as RRR and policy rates. Tencent (700.HK) launched long awaited tool, ClawBot, to integrate WeChat with OpenClaw.
Calendar quieter this week with global flash PMIs (Tues) headlining main data releases. RBNZ Governor Breman's (Tues) speech will be closely eyed for commentary surrounding Middle East conflict's impact on outlook for growth and inflation. Japan CPI (Tues) expected to follow Tokyo data showing core inflation fell below 2% due in part to energy subsidies. Australia February CPI (Wed) expected to show inflation unchanged at prior month's elevated pace as economists look for May rate hike. South Korea trade data and China industrial profits also due out. China earnings season continues, with Xiaomi, Meituan, Kuaishou Technology, BYD, and Great Wall Motor reporting.
Pre-open Company News:
512.HK -- Grand Pharmaceutical Group ophthalmic product GPN01768 granted Drug Registration Certificate by NMPA
1818.HK -- Zhaojin Mining Industry reports FY net income attributable CNY3.61B vs FactSet CNY3.41B [6 est, CNY3.10-3.92B]
2331.HK -- Li Ning upgraded to add from hold at CGS International
3692.HK -- Hansoh Pharmaceutical Group obtains NMPA clinical trial approval for HS10587 tablets and HS-20152 injection
3759.HK -- Pharmaron Beijing initiated buy at BoCom International
TOK.AU -- Tolu Minerals to issue 14.6M shares to Petrindo and Petrosea at A$1.625/sh
2259.HK -- Zijin Gold International reports FY net income attributable $1.60B vs year-ago $481.4M
JYEU.SP -- Lendlease Global Commercial REIT completes SG$196.6M preferential offering at SG$0.558/unit
500440.IN -- Hindalco Industries initiated buy at BOB Capital Markets
470.HK -- Wuxi Lead Intelligent Equipment H-Shares initiated overweight at JPMorgan
500477.IN -- Ashok Leyland downgraded to neutral from outperform at BNP Paribas Exane
600481.CH -- Shuangliang Eco-Energy Systems receives CSRC warning and fine of CNY4M over illegal disclosure of information
1099.HK -- Sinopharm Group reports FY net income attributable CNY7.16B vs StreetAccount CNY7.30B
068270.KS -- Celltrion reports fatal accident at Songdo factory
On Deck:
China:
Economic:
08:00 CST: Foreign Direct Investment Y/Y; consensus
Earnings:
WuXi AppTec (603259.CH)
Hong Kong:
Earnings:
Zhejiang Sanhua Intelligent Controls (2050.HK), Sichuan Kelun-Biotech Biopharmaceutical (6990.HK), YSB, Inc. (9885.HK), Henderson Land Development (12.HK), COFCO Joycome Foods (1610.HK), AsiaInfo Technologies (1675.HK), Fire Rock Holdings (1909.HK), Morimatsu International Holdings (2155.HK), West China Cement (2233.HK), WuXi XDC Cayman (2268.HK), PegBio (2565.HK), Guangzhou Innogen Pharmaceutical Group (2591.HK), QingSong Health Corp. (2661.HK), China Resources Beer (Holdings) (291.HK), Tingyi (Cayman Islands) Holding (322.HK), NagaCorp (3918.HK), Minth Group (425.HK), Laopu Gold (6181.HK), Kerry Properties (683.HK), Green Tea Group (6831.HK), BOE Varitronix (710.HK), China Overseas Grand Oceans Group (81.HK), Jinmao Property Services (816.HK), Duality Biotherapeutics (9606.HK)
Australia:
Earnings:
Clover Corp. (CLV.AU), Myer Holdings (MYR.AU)
Market Data:
Gold (Apr 26): ($89.10) or (1.95%) to $4485.80
WTI Crude (Apr 26): ($0.15) or (0.15%) to $98.08
$-¥: +0.02 or +0.01% to 159.2460
$-KRW: (1.25) or (0.08%) to 1504.1070
A$-$: (0.00) or (0.22%) to 0.7008
$-INR: +0.42 or +0.44% to 94.0104
$-CNY: (0.00) or (0.01%) to 6.8854
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