Apr 01 ,2026
Synopsis:
Asian Market Preview will not be published on Good Friday 3-Apr. It will return on 6-Apr.
Asian markets set for cautious start to Thursday trade. Futures signaling mild opening gain in Japan and flat start in Hong Kong. Australia up sightly in initial trade. S&P 500 futures unchanged afterhours. Australian bonds weakening after Treasury curve was mildly flatter overnight. Crude extending declines with WTI back below $100. Gold and silver little changed following earlier strength. FX markets steady after dollar index came off lows. Bitcoin range bound.
Trump will address US at 21:00 ET, expected to tout war's success and reiterate 2-3 week timeline for ending conflict. Trump reportedly discussing with Iran idea of ceasefire in return for immediate reopening of Strait of Hormuz. Still no indication from Iran about its willingness to engage with Tehran disputing Trump's claim and IRGC maintaining right of Hormuz. NY Times intel sources said Iran sees no reason for serious talks amid belief it has leverage. Fits with doubts two sides can bridge wide gap in their ceasefire demands, leaving war at risk of escalating if no deal reached with economic infrastructure potential targets.
Rising hopes for Iran war off-ramp key driver of this week's rebound in risk appetite and latest pullback in oil prices. Latter helping to put some downward pressure on bond yields following huge backup over March, translating to mid-week rebound in recently underperforming growth/tech pockets. Reduced valuation premiums and oversold conditions have also encouraged buy calls. SOX index up another 3% Wednesday following prior session's 6% surge.
Pre-open Company News:
8628.JP -- Matsui Securities reports March revenue from commissions ¥2.48B vs month-ago ¥2.58B
2015.HK -- Li Auto March deliveries 41,053 vehicles
J36.SP -- Jardine Matheson Holdings CEO Lincoln Pan discloses purchase of 10K shares
600657.CH -- Cinda Real Estate reports FY net income attributable (CNY7.88B) vs guidance (CNY7.60-8.20B) and year-ago (CNY783.9M)
002294.CH -- Shenzhen Salubris Pharmaceuticals initiated buy at Soochow Securities (timing uncertain)
2533.HK -- Black Sesame International Holding upgraded to buy at Sinolink Securities (timing uncertain)
500257.IN -- Lupin's subsidiary Nanomi completes acquisition of VISUfarma as announced in Sep 2025
SMBC Nikko initiates 4521.JP, 4536.JP
500182.IN -- Hero MotoCorp completes acquisition of convertible preference shares in Euler Motors for INR2.10B; deal was announced on 5-Feb
8242.JP -- H2O Retailing reports March Hankyu Hanshin Department Store sales +6.5 y/y
532500.IN -- Maruti Suzuki India reports March total sales (units) 225,251 vs StreetAccount 215,360
175.HK -- Geely Automobile Holdings reports March sales volume 233,031 units, +0% y/y
600104.CH -- SAIC Motor reports FY net income attributable CNY10.11B vs guidance CNY9.0-11.0B and FactSet CNY10.55B [10 est, CNY9.30-12.30B]
1313.HK -- China Resources Building Materials Technology Holdings initiated buy at Changjiang Securities (timing uncertain)
4502.JP -- Axsome Therapeutics acquires selective PDE10A inhibitor balipodect from Takeda
On Deck:
Japan:
Earnings:
Kasumigaseki Capital (3498.JP), Kusuri No Aoki Holdings (3549.JP), NISHIMATSUYA CHAIN (7545.JP), HEIWADO CO. (8276.JP)
South Korea:
Economic:
08:00 KST: CPI NSA Y/Y; consensus +2.4%
08:00 KST: CPI M/M; consensus +0.6%
Australia:
Economic:
11:30 AEST: Trade Balance on Goods; consensus
Market Data:
Gold (Jun 26): +$8.70 or +0.18% to $4821.80
WTI Crude (May 26): ($1.20) or (1.20%) to $98.92
$-¥: (0.09) or (0.05%) to 158.6340
$-KRW: +7.02 or +0.47% to 1513.7900
A$-$: +0.00 or +0.38% to 0.6926
$-INR: (0.84) or (0.90%) to 92.6427
$-CNY: (0.03) or (0.41%) to 6.8710
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