Mar 26 ,2026
Synopsis:
Asian market set for negative start to Friday trade. Futures signaling opening decline in Japan and flat start in Hong Kong. Australia down slightly in initial trade. S&P 500 futures gaining afterhours after Trump extended pause on hitting Iran energy plant. Follows Thursday selloff amid conflict de-escalation skepticism. Australian bonds weakening after Treasuries came under renewed pressure. Crude pulling back on Trump's pause extension while gold slightly higher following earlier selloff. FX markets steady following mild dollar strength. Bitcoin little changed after sliding back below $70K.
Risk-off sentiment attributed to market doubts about prospect of negotiated outcome to Iran conflict. Initial relief on revelation of 15-point peace plan gave way to doubts about Iran's willingness to accept terms while its counterproposals viewed as non-starters. Still some confusion about state of negotiations though Trump extended by 10 days pause on decision to strike Iranian energy facilities to allow for talks to continue. Fate of conflict highly uncertain amid continued bombing, threat of war widening and reports US positioning forces for potential ground operations.
Bond market selloff continued into overnight session with Treasury curve front end under pressure. Retracement followed Iranian pushback against peace plan with oil rebound continuing to underpin concerns about rise in inflation expectations. Hawkish rate repricing continues with market factoring in 17 bp of Fed rate hikes as Governor Cook became latest to voice concern about inflation risk. Other major central banks have also talked up inflation concerns over past week. String of weak Treasury auctions heightening bond market angst and fueling rise in volatility (MOVE index highest since Apr-2025).
Pre-open Company News:
251270.KS -- Netmarble provides FY26-28 value-up plan; allocates ~40% of consolidated net income attributable to shareholder returns
3690.HK -- Meituan reports Q4 adjusted net income (CNY15.08B) vs StreetAccount (CNY14.23B)
1513.HK -- NMPA approves trial of Livzon Pharmaceutical's brexpiprazole for schizophrenia in adults
600497.CH -- Yunnan Chihong Zinc & Germanium reports FY net income attributable CNY1.04B vs FactSet CNY1.22B [1 est]
601788.CH -- Everbright Securities confirms preliminary FY results as reported 23-Jan
532466.IN -- Oracle Financial Services Software wins ~$100M (INR9.40B) software licensing deal from global US bank
6865.HK -- Flat Glass Group reports FY net income attributable CNY980.6M vs FactSet CNY838.8M [18 est, CNY359.5-1.11B]
1996.HK -- Redsun Properties Group reports FY net income (CNY4.85B) vs year-ago (CNY5.53B)
2407.HK -- Gaush Meditech reports FY net income attributable CNY96.2M, +4% vs year-ago CNY92.4M
1098.HK -- Road King Infrastructure reports FY net income attributable (HK$5.98B) vs guidance (HK$5.80-6.10B)
7389.JP -- Aichi Financial raises FY net income attributable guidance to ¥21.00B vs prior guidance ¥18.00B
941.HK -- China Mobile reports Q4 mobile customers net adds (3.7M)
603160.CH -- Shenzhen Goodix Technology reports FY net income attributable CNY837.1M vs FactSet CNY765.6M
6865.HK -- Flat Glass Group releases ESG report for 2025
ALM.SM -- Almirall is presenting a broad range of clinical and real‑world data across its portfolio at the 2026 AAD Annual Meeting
On Deck:
China:
Earnings:
Guotai Haitong Securities (601211.CH), Qinhuangdao Port (601326.CH), Shenwan Hongyuan Group (000166.CH), Delton Technology (Guangzhou) (001389.CH), Beijing Oriental Yuhong Waterproof Technology (002271.CH), BYD Co. (002594.CH), ADAMA (200553.CH), Orient Securities (600958.CH), China Merchants Securities (600999.CH), Nanhua Futures (603093.CH), Fortior Technology (688279.CH)
Hong Kong:
Earnings:
Shandong Weigao Group Medical Polymer (1066.HK), TCL Electronics Holdings (1070.HK), Meitu Inc (1357.HK), Shanghai Fudan Microelectronics Group (1385.HK), Guolian Minsheng Securities (1456.HK), Jiangsu Expressway (177.HK), Great Wall Motor (2333.HK), CMOC Group (3993.HK), China Energy Engineering (3996.HK), PetroChina (857.HK), Datang International Power Generation (991.HK), Jiumaojiu International Holdings (9922.HK), Seazen Group (1030.HK), Yuexiu Transport Infrastructure (1052.HK), China Resources Land (1109.HK), Brilliance China Automotive Holdings (1114.HK), Yankuang Energy Group (1171.HK), China Resources Gas Group (1193.HK), Realord Group Holdings (1196.HK), China Resources Mixc Lifestyle Services (1209.HK), iMotion Automotive Technology (1274.HK), New China Life Insurance (1336.HK), Central China Securities (1375.HK), Minsheng Education Group (1569.HK), Postal Savings Bank of China (1658.HK), Ausnutria Dairy (1717.HK), Time Interconnect Technology (1729.HK), K. Wah International Holdings (173.HK), CRRC Corp. (1766.HK), Fantasia Holdings Group (1777.HK), Colour Life Services Group (1778.HK), China Datang Corp. Renewable Power (1798.HK), Xinte Energy (1799.HK), China Coal Energy (1898.HK), China Risun Group (1907.HK), Sunac China Holdings (1918.HK), China SCE Group Holdings (1966.HK), SSY Group (2005.HK), Goldwind Science & Technology (2208.HK), Guangzhou Automobile Group (2238.HK), Sirnaomics (2257.HK), AviChina Industry & Technology (2357.HK), XD Inc (2400.HK), Xiao Noodles (2408.HK), Mobvoi (2438.HK), Mobvoi (2438.HK), Concord Healthcare Group Co., Ltd. (2453.HK), Xunfei Healthcare Technology (2506.HK), Hightide Therapeutics (2511.HK), AuGroup (SHENZHEN) Cross-Border Business (2519.HK), Sichuan Baicha Baidao (2555.HK), Shanghai REFIRE Group (2570.HK), InnoScience (Suzhou) Technology Holding Co., Ltd. (2577.HK), Aux Electric (2580.HK), Aluminum Corp. of China (2600.HK), CaoCao (2643.HK), 160 Health International (2656.HK), CITIC Ltd (267.HK), Shenzhen Edge Medical (2675.HK), Shanghai Able Digital Science&Tech (2687.HK), ENN Energy Holdings (2688.HK), Zhongliang Holdings Group (2772.HK), BYD Electronic (International) (285.HK), China Shineway Pharmaceutical Group (2877.HK), CMGE Technology Group (302.HK), CSSC Offshore & Marine Engineering (Group) (317.HK), C-MER Medical Holdings (3309.HK), Shenzhen Xunce Technology (3317.HK), A-Living Smart City Services (3319.HK), Bank of Communications (3328.HK), Greenland Hong Kong Holdings (337.HK), Sino-Ocean Group Holdings (3377.HK), Zhongyu Energy Holdings (3633.HK), InSilico Medicine Cayman TopCo (3696.HK), EEKA Fashion Holdings (3709.HK), Vobile Group (3738.HK), Sinotruk Hong Kong (3808.HK), Hashkey Holdings (3887.HK), CALB Group Co. (3931.HK), China Merchants Bank (3968.HK), Midea Real Estate Holding (3990.HK), Shandong Hi-Speed Holdings Group (412.HK), Country Garden Services Holdings (6098.HK), Tongdao Liepin Group (6100.HK), Zhenro Properties Group (6158.HK), Qingdao Port International (6198.HK), Global New Material International Holdings (6616.HK), Evergrande Property Services Group (6666.HK), Star CM Holdings (6698.HK), Angelalign Technology (6699.HK), Yangtze Optical Fibre & Cable Joint Stock (6869.HK), Ganglong China Property Group (6968.HK), Shoucheng Holdings (697.HK), Bama Tea (6980.HK), Edding Genor Group Holdings (6998.HK), Skyworth Group (751.HK), Shimao Group Holdings (813.HK), Tianneng Power International (819.HK), Central China Real Estate (832.HK), Shimao Services Holdings (873.HK), China Construction Bank (939.HK), Longfor Group Holdings (960.HK), Shiyue Daotian Group (9676.HK), China Youran Dairy Group (9858.HK), Nanjing Leads Biolabs (9887.HK), Tanwan (9890.HK), Anhui Expressway (995.HK), Huijing Holdings (9968.HK), RemeGen (9995.HK)
Japan:
Economic:
09:30 JST: Trade Balance NSA (Final); consensus
09:30 JST: Import NSA Y/Y (Final); consensus +10.2%
09:30 JST: Export NSA Y/Y (Final); consensus +4.2%
Earnings:
Daito Trust Construction (1878.JP), ASKUL Corp (2678.JP)
Australia:
Earnings:
Highfield Resources (HFR.AU), EBR Systems (EBR.AU)
Taiwan:
Earnings:
Cathay Financial Holdings (2882.TT)
Market Data:
Gold (Apr 26): +$17.30 or +0.40% to $4393.60
WTI Crude (May 26): ($1.22) or (1.29%) to $93.26
$-¥: +0.19 or +0.12% to 159.6570
$-KRW: +2.85 or +0.19% to 1508.3600
A$-$: (0.01) or (0.76%) to 0.6893
$-INR: +0.41 or +0.44% to 94.3084
$-CNY: +0.01 or +0.13% to 6.9105
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