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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.90%, Hang Seng Futures 0.00%, ASX SPI 200 +0.15%, S&P Futures +2.22%

Apr 07 ,2026

  • Synopsis:

    • Asia equities poised to open higher Wednesday after a final hour US-Iran ceasefire was agreed. Asia futures in Japan, Australia and South Korea all advanced and generally closed around best levels, capturing the late bounce in US markets on hopes for a truce. Sectors ended mixed with consumer staples notably lagging. US contracts rallying after hours after the ceasefire was announced. Japan ADRs skewed to gains, Nasdaq Golden Dragon China index fell notably. Tech leads were net positive with SOX index up 1.11% though big tech names mixed. US Treasuries were mostly firmer with curve steepening. Dollar index was down 0.3%. Crude oil futures tumbled on ceasefire headlines. Gold and Bitcoin rallying.

    • Markets undergoing major relief after Trump agreed to suspend bombing operations in Iran for two weeks conditional on a reopening of the Strait of Hormuz with confirmation of a ceasefire from Iran. First round of negotiations reportedly set for Friday in Islamabad. Trump said Iran's 10-point proposal was a workable basis for negotiation after previously indicating it wasn't good enough. Iran Supreme National Security Council was quoted as claiming major concessions -- US agreed in principle to lift all primary and secondary sanctions, while also accepting Iran's nuclear enrichment and continued control over the Strait. Heightened trepidation ahead of the 8 pm ET deadline dominated markets overnight amid a barrage of headlines. Trump meaningfully ratcheted up his rhetoric ("a whole civilization will die tonight") and more US/Israel attacks were launched, notably against Kharg Island. But latest Trump remarks indicated he was in "heated negotiations" after late afternoon saw first reports of the two-week pause proposed by Pakistan.

    • Global macro implications continue to simmer in background. Signs so far affirming central bank concerns about compounding inflation risks. EIA warned full restoration of Strait oil flows will take months, keeping fuel prices elevated in the meantime. Narrative has generally accepted a stagflation scenario with oil at current levels, while recent sensitivity analysis warned of recession risks when prices approach ~$130 per barrel. Press reported European and Asian refiners paying far above futures price near $150 for certain crude grades. IMF chief Georgieva said they were on the way to upgrading 2026 GDP growth projections before the war and trajectory has now shifted to a downgrade ahead of next week's publication. Teased key dynamic of negative supply shock underscoring urgency on inflation. Warned of depleted policy space to deal with a major economic downturn with few governments having recovered from Covid pandemic deficits.

    • No other major risk events in Asia to distract from geopolitics. Topical attention on central banks as well as timely data on inflation and business activity. Main regional event today will be RBI meeting, widely expected to stay on hold, though any discussion of Middle East impacts the over-arching central bank theme for now. Japan wages also due though markets already looking forward to the impact of wage hikes set to come into effect from April. Looking ahead, US PCE data coming up tomorrow, followed by Friday's BOK meeting, China CPI/PPI, Japan CGPI and later US CPI.

  • Pre-open Company News:

    • 8153.JP -- MOS FOOD SERVICES reports March MOS BURGER same-store sales +2.5% y/y

    • 002384.CH -- Suzhou Dongshan Precision Manufacturing guides Q1 net income attributable CNY1.00-1.15B vs FactSet CNY795.4M [2 est, CNY757.5-833.3M]

    • 002384.CH -- Suzhou Dongshan Precision Manufacturing reports preliminary FY net income attributable CNY1.33B vs FactSet CNY1.66B [5 est, CNY1.54-1.83B]

    • 002938.CH -- Avary Holding (Shenzhen) reports March consolidated revenue CNY2.96B, +1.4% y/y

    • PONY -- Singapore allows Pony.ai's autonomous mobility service to enter by-invite rides

    • 4593.JP -- Healios KK initiated buy at Chardan Capital

    • 300014.CH -- EVE Energy plans CNY5B investment in 50GWh energy storage project in Qidong

    • 3017.TT -- Asia Vital Components reports March revenue NT$18.02B, +111.7% y/y

    • 3105.TT -- Win Semiconductors reports March revenue NT$1.65B, +34.3% y/y

    • 600380.CH -- Joincare Pharmaceutical Group Industry obtains NMPA approval for phase II clinical trial of JKN2401 injection for treatment of CRSwNP

    • 9903.HK -- Shanghai Iluvatar CoreX Semiconductor initiated overweight at JPMorgan

    • 603019.CH -- Dawning Information Industry reports preliminary Q1 net income attributable CNY225.4M, +21% vs year-ago CNY186.5M

    • 532523.IN -- Biocon launches Bosaya and Aukelso (denosumab-kyqq) commercially in the US

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: New Yuan Loans; consensus

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

        • 08:00 CST: M2 NSA Y/Y; consensus +9%

    • Japan:

      • Earnings:

        • AEON Financial Service (8570.JP), ABC-MART (2670.JP), KOMEDA Holdings (3543.JP), BELLSYSTEM24 Holdings (6183.JP), Saizeriya (7581.JP)

    • Taiwan:

      • Economic:

        • 16:00 TST: CPI NSA Y/Y; consensus +1.6%

  • Market Data:

    • Gold (Jun 26): +$159.00 or +3.39% to $4843.70

    • WTI Crude (May 26): ($17.84) or (15.79%) to $95.11

    • $-¥: (0.93) or (0.58%) to 158.7560

    • $-KRW: (30.29) or (2.01%) to 1478.6900

    • A$-$: +0.02 or +2.17% to 0.7069

    • $-INR: (0.71) or (0.77%) to 92.2490

    • $-CNY: (0.03) or (0.38%) to 6.8564

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