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StreetAccount Summary - Asian Market Preview: Nikkei Futures +0.13%, Hang Seng Futures (0.46%), ASX SPI 200 (0.80%), S&P Futures (0.03%)

May 04 ,2026

  • Synopsis:

    • Asian markets set for negative start to Tuesday trade. Light volume session ahead with Japan, China and South Korea offline for holidays. Futures signaling opening in declines in Australia. S&P 500 futures flat afterhours. Treasuries weakened Monday with curve flattening. Crude pulling back after rallying earlier on hawkish Middle East developments. Gold and silver both ended sharply lower. FX markets steady after dollar index ended marginally higher. Yen was little changed. Bitcoin broke through $80K for first time since late January.

    • Markets back in risk-off mode following flare-up in Middle East tensions after US and Iran traded fire in Strait of Hormuz as US launched 'Project Freedom' to aid shipping through the waterway. UAE's Fujairah port and oil tankers were also hit, contributing to surge in crude oil. Developments underlined fragility of ceasefire with two sides still no closer to an agreement to end hostilities. On weekend Iran submitted revised 14-point plan that was mostly rehash of previous demands already rejected by US, leaving weeks-old status quo intact.

    • RBA expected to raise cash rate by 25 bp to 4.35%. Rate hike expectations reinforced by Q1 CPI data showing underlying inflation remaining above 3% target before full effects of Iran war have played out, underlining Australia's high inflation starting point. Updated economic forecasts expected to show sharp rise in near-term CPI forecasts. While stagflationary impulse expected to prompt negative revisions to growth and labor market forecasts. Market pricing in one more rate hike by October and 50% chance of additional increase by year-end.

  • Pre-open Company News:

    • 540691.IN -- Aditya Birla Capital reports Q4 consolidated EPS INR4.26 vs year-ago INR3.29

    • 532523.IN -- Biocon to consider investment in Biocon Biologics via share swap at its 7-May board meeting

    • 543232.IN -- Computer Age Management Services reports Q4 consolidated EPS INR5.08 vs year-ago INR4.59

    • W05.SP -- Wing Tai Holdings JV company with Metro Holdings awarded 99-year leasehold prime site at Dunearn Road by URA at tender price SG$533M

    • 532522.IN -- Petronet LNG reports Q4 standalone net income INR13.38B vs FactSet INR8.60B [22 est, INR6.05-14.04B]

    • BN4.SP -- Keppel to dispose 39% interest in Keppel Merlimau Cogen to Keppel Infrastructure Fund Management for up-to-SG$128.1M

    • MER.PM -- Manila Electric to sell entire 65.1% stake in Radius Telecoms to PLDT for indicative consideration PHP2.94B

    • 532921.IN -- Adani Ports & Special Economic Zone downgraded to hold from buy at BOB Capital Markets

    • 543243.IN -- Equitas Small Finance Bank upgraded to add from reduce at Emkay Research

    • 539978.IN -- Quess Corp. reports Q4 consolidated EPS INR4.29 vs year-ago (INR6.42)

    • 524208.IN -- AARTI Industries reports Q4 consolidated EPS INR3.78 vs FactSet INR3.57 [7 est, INR2.70-4.10]

    • 2005.HK -- SSY Group reports Q1 net income attributable HK$171.2M, +2% vs year-ago HK$168.5M

    • 1879.HK -- Shanghai Xizhi Technology initiated overweight at Sealand Securities (timing uncertain)

    • 500770.IN -- Tata Chemicals reports Q4 consolidated EPS (cont. ops) (INR83.68) vs year-ago (INR2.90)

  • On Deck:

    • Hong Kong:

      • Earnings:

        • Budweiser Brewing Co. APAC (1876.HK)

    • South Korea:

      • Earnings:

        • DB HITEK (000990.KS), KakaoBank (323410.KS)

    • Australia:

      • Economic:

        • 14:30 AEST: RBA Official Cash Rate; consensus +25 bp to 4.35%

    • India:

      • Earnings:

        • Raymond (500330.IN), Larsen & Toubro (500510.IN), Mahindra & Mahindra (500520.IN), Punjab National Bank (532461.IN), Coforge (532541.IN), Aavas Financiers (541988.IN), Hero MotoCorp (500182.IN), SRF Ltd (503806.IN), Alkyl Amines Chemicals (506767.IN), Lloyds Metals & Energy (512455.IN), United Breweries (532478.IN)

    • Indonesia:

      • Economic:

        • 11:00 SAST: GDP NSA Y/Y; consensus +5.3%

    • Singapore:

      • Earnings:

        • Frasers Logistics & Commercial Trust (BUOU.SP), UltraGreen.ai Limited (ULG.SP), Fraser & Neave (F99.SP)

    • Taiwan:

      • Earnings:

        • Vanguard International Semiconductor (5347.TT), Winbond Electronics (2344.TT), Synnex Technology International (2347.TT), U-Ming Marine Transport (2606.TT), GlobalWafers (6488.TT)

    • Thailand:

      • Earnings:

        • Thai Union Group Public (TU.TB)

    • Philippines:

      • Economic:

        • 09:00 SST: CPI Y/Y; consensus +5.2%

      • Earnings:

        • Wilcon Depot (WLCON.PM)

  • Market Data:

    • Gold (Jun 26): ($3.10) or (0.07%) to $4530.20

    • WTI Crude (Jun 26): ($1.46) or (1.37%) to $104.96

    • $-¥: +0.13 or +0.08% to 157.1940

    • $-KRW: +4.93 or +0.34% to 1476.0500

    • A$-$: (0.00) or (0.55%) to 0.7166

    • $-INR: +0.36 or +0.38% to 95.2593

    • $-CNY: +0.00 or +0.01% to 6.8293

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