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StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.05%, Hang Seng Futures (0.35%), ASX SPI 200 (0.24%), S&P Futures (0.14%)

Apr 08 ,2026

  • Synopsis:

    • Asia equities poised for a mixed open Thursday. Futures in Japan and South Korea traded higher, while Hong Kong and Australia were lower. Japan ADRs all advanced, while Golden Dragon China index rallied 3.05%. US contracts softening from sharp cash session gains. Almost all sectors rose sharply, only energy declined. Tech leads were positive with SOX index up a strong 6.34% back to pre-war levels. Big tech mostly higher, especially in Mag 7 led by Meta Platforms (META) while Tesla (TSLA) was the lone decliner. US Treasuries were stronger with yields ended down 1-3 bp, though 10Y auction tailed. Dollar index was down 0.8%. WTI crude settled down 16.3%, logging weakest session since April 2020. Gold finished up 2.2% amid broad gains in metals. Bitcoin futures were up 3.4%.

    • Relief rally in stocks permeated globally in the wake of the US-Iran ceasefire. US VIX notably now back to pre-war levels. However, signal value for Asia markets today in question given it had already captured the initial euphoria in full yesterday. Moreover, fighting continued with Israel launching its strongest assault on Lebanon, prompting Iran to declare Strait of Hormuz closed again while threatening a heavy response and a withdrawal from the truce. Markets were quick to point out inconsistencies in the terms of agreement between the two sides -- whether Lebanon was part of the truce being one of them. US VP Vance has identified the circulation of three different 10-point proposals and two of them were false. Still, markets have so far retained the bulk of the initial optimism. White House announced Vance to lead a delegation to Islamabad for talks with Iran at the end of this week. Insurers reportedly inundated with requests from shipping firms for coverage through the Strait.

    • Headline volatility aside, ceasefire now forms a new assumption for markets to recalibrate the outlook. Press discussions cited views that global bond markets unlikely to stage a full recovery from the Iran war phase given uncertainty about whether the truce will hold. Views essentially shaped by the expected duration of elevated oil prices and subsequent impacts on local inflation. Bond markets see impacts lasting for some time even if peace endures given the timeframe for restoration. Meanwhile, there were substantial swings in central bank policy expectations. Fed Funds futures saw implied probability of a rate cut this year go from 65% immediately after the ceasefire announcement down to about 25% though markets were leaning towards a hike before the truce. Projections for multiple hikes by ECB and BOE scaled back. Crux of debate is whether the ceasefire helps central banks to waive off current energy pressures as temporary.

  • Pre-open Company News:

    • 535.HK -- Gemdale Properties & Investment reports March aggregate contracted sales CNY405M; StreetAccount notes year-ago was CNY943M

    • H78.SP -- Hongkong Land Holdings releases sustainability performance report 2025

    • 601326.CH -- Qinhuangdao Port reports Q1 total throughput 104.9Mt, +7.8% y/y

    • 600415.CH -- Zhejiang China Commodities City Group reports FY net income attributable CNY4.20B vs FactSet CNY4.55B [7 est, CNY4.24-4.90B]

    • 601156.CH -- Eastern Air Logistics holder Legend Holdings sells its entire 179.3M shares to China Logistics Group at CNY15.156/share

    • 6752.JP -- Panasonic downgraded to neutral from buy at Nomura, we're told

    • 9690.HK -- Tuhu Car downgraded to neutral from buy at Goldman Sachs

    • 601006.CH -- Daqin Railway reports March Daqin Line cargo transportation 37.5Mt, +6.4% y/y

    • 2884.TT -- E.SUN Financial Holding reports March PBT NT$3.99B; StreetAccount notes the year-ago figure was NT$3.61B

    • 2518.HK -- Autohome releases sustainability report

    • 600703.CH -- Sanan Optoelectronics president Lin Kechuang under detention and investigation; reasons not given

    • J36.SP -- Jardine Matheson Holdings releases sustainability report 2025

    • 600066.CH -- Yutong Bus initiated overweight at Northeast Securities (timing uncertain)

    • 500800.IN -- Tata Consumer Products upgraded to buy from hold at Nirmal Bang

    • 9887.HK -- Nanjing Leads Biolabs's phase II study of Opamtistomig for advanced BTC enters expansion phase

  • 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

    • Japan:

      • Earnings:

        • Seven & I Holdings (3382.JP), TSURUHA Holdings (3391.JP), FAST RETAILING (9983.JP), Kewpie (2809.JP), Sugi Holdings (7649.JP), Onward Holdings (8016.JP), Life Corp. (8194.JP), AEON Co. (8267.JP), Yoshinoya Holdings (9861.JP)

    • India:

      • Earnings:

        • Anand Rathi Wealth (543415.IN)

  • Market Data:

    • Gold (Jun 26): ($43.70) or (0.91%) to $4733.50

    • WTI Crude (May 26): +$2.52 or +2.67% to $96.93

    • $-¥: (0.95) or (0.60%) to 158.6680

    • $-KRW: (19.06) or (1.27%) to 1477.6000

    • A$-$: +0.01 or +1.03% to 0.7041

    • $-INR: (0.57) or (0.61%) to 92.2831

    • $-CNY: (0.03) or (0.41%) to 6.8291

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