May 03 ,2026
Synopsis:
Asian markets set for muted start to Monday trade. Asia markets including Japan and China closed for Labor Day/Golden Week holiday. Australia tracking for small initial decline. S&P 500 futures steady afterhours after US indexes capped fifth straight weekly gain. Australian bonds strengthening after Treasury yields extended recent down move. Crude weakening amid positive signals in latest US-Iran headlines. Gold and silver marginally lower. Bitcoin steady near one-week high.
President Trump said US will guide stranded vessels through Strait of Hormuz, though press sources clarified it won't involve naval ships. Iran reportedly received US response to its latest offer, which mostly rehashed Tehran's prior demands to reopen Strait of Hormuz, end blockade, reverse sanctions and remove US bases from region while leaving nuclear talks to later stage. Trump gave conflicting signals on response, telling Israeli media he didn't find it acceptable while later posting on Truth Social about very positive discussions that could lead to something positive.
Quieter week on economic calendar. RBA (Tues) expected to hike by another 25 bp. China RatingDog services PMI (Wed) forecast to show activity expanded at similar pace. New Zealand Q1 employment data (Wed) expected to show unchanged employment rate amid rising odds of a May rate hike. China trade and lending data tentatively slated for release later in the week. BOJ March meeting minutes (Thurs), Japan wage data (Fri) and South Korea CPI (Wed) among other economic releases. Asia earnings season continues with South Korean defense firms and Japan's major autos reporting.
Pre-open Company News:
6446.TT -- PharmaEssentia appeals to German Federal Supreme Court in lawsuit with AOP Orphan Pharmaceuticals
2333.HK -- Great Wall Motor Great Wall Motor reports April production 118,417 units, +14.7% y/y
2659.HK -- Shanghai Bao Pharmaceuticals chairman Liu Yanjun discloses plan to acquire up to 38.9M shares on market
MIRM -- Mirum Pharmaceuticals investor call on 4-May to report Topline results from vistas study of Volixibat in patients with primary Sclerosing Cholangitis
540376.IN -- Avenue Supermarts reports Q4 standalone EPS INR11.13 vs StreetAccount INR11.21
526371.IN -- NMDC Ltd reports April iron ore production 4.64 Mt vs year-ago 4.00 Mt
500038.IN -- Balrampur Chini Mills reports 2025-26 season Net Sugar produced (Lac MT) 9.68 vs year-ago 9.24
533758.IN -- APL Apollo Tubes reports Q4 EPS INR12.76 vs FactSet INR12.39 [4 est, INR11.80-13.45]
175.HK -- Geely Automobile Holdings reports April sales volume 235,164 units, +0% y/y
544678.IN -- Bharat Coking Coal reports on accident at Moonidih Washery ending in four fatalities
9973.HK -- Chery Automobile reports April sales volume 236,427, +27.0% vs year-ago 186,121
543300.IN -- Sona BLW Precision Forgings downgraded to underweight from neutral at JPMorgan
383220.KS -- F&F Co. upgraded to overweight from equal-weight at Morgan Stanley
Morgan Stanley upgrades Henderson Land Development & Link REIT
BRN.AU -- Brainchip enters into IP distribution license agreement with ASICLAND
On Deck:
Hong Kong:
Earnings:
Budweiser Brewing Co. APAC (1876.HK)
Australia:
Economic:
11:30 AEST: Building Approvals SA M/M; consensus
Earnings:
Westpac Banking (WBC.AU)
India:
Earnings:
Bharat Heavy Electricals (500103.IN), Ambuja Cements (500425.IN), Jyothy Labs (532926.IN), Godrej Properties (533150.IN), CSB Bank (542867.IN), Exide Industries (500086.IN), KEI Industries (517569.IN), AARTI Industries (524208.IN), Jindal Stainless (532508.IN), Sobha Ltd (532784.IN), Quess Corp. (539978.IN), Computer Age Management Services (543232.IN), Latent View Analytics (543398.IN)
Indonesia:
Economic:
11:00 SAST: CPI NSA Y/Y; consensus
Philippines:
Earnings:
Manila Electric (MER.PM)
Market Data:
Gold (Jun 26): ($16.30) or (0.35%) to $4628.20
WTI Crude (Jun 26): ($0.46) or (0.45%) to $101.48
$-¥: (0.24) or (0.15%) to 156.8260
$-KRW: +1.25 or +0.08% to 1472.3700
A$-$: +0.00 or +0.09% to 0.7212
$-INR: (0.00) or (0.00%) to 94.8915
$-CNY: (0.00) or (0.01%) to 6.8273
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