May 06 ,2026
Synopsis:
Asian markets set for positive start to Thursday trade. Japan tracking for big opening gains as market resumes trade following Golden Week break. Hong Kong and Australia also set for extension of gains. Australian bonds rallying in-line with Treasury curve steepening overnight. S&P 500 futures down slightly afterhours. Crude lifting from lows after dropping 7% in cash session. Gold and silver adding to earlier gains. FX markets steady after yen stabilized following Wednesday selloff on intervention speculation. Bitcoin steady near late January highs.
Markets welcomed signs of fresh momentum in US-Iran peace talks amid reports two sides nearing agreement on 14-point MoU to end war, set in motion 30-day negotiation period and framework for nuclear talks. Trump repeated claim Iran desperate for deal and agreed to abandon nuclear weapons. Publicly, Iran maintaining defiant tone and there is skepticism whether two sides can find common ground on nuclear issue/HEU stockpiles and Iranian demands to control Strait of Hormuz. Some thought also Trump under time constraints to seal agreement before his visit to Beijing.
AI remains the other market focus with SOX rallying another 4% Wednesday. AMD up 18% Wednesday with earnings takeaways focused on accelerating data center demand for server CPU. NVDA the other standout, closing up 5%. Kospi surge the other talking point Wednesday after index soared past 7K amid an unrelenting rally in memory chip giants. Speed of the rally also inviting more talk about concentration risks, overbought technical signals and demand for downside protection.
Pre-open Company News:
S58.SP -- SATS Ltd. acquires additional 40% stake in Nanjing Weizhou Airline Food for aggregate consideration CNY312.6M (~SG$58.3M)
1929.HK -- Chow Tai Fook Jewellery Group guides FY net income +45-55% y/y
500093.IN -- CG Power & Industrial Solutions reports Q4 consolidated EPS (cont. ops) INR2.31 vs FactSet INR2.03 [7 est, INR1.49-2.40]
603087.CH -- European Commission approves Gan & Lee's Dazparda for diabetes
543335.IN -- Aptus Value Housing Finance India reports Q4 consolidated EPS INR5.21 vs year-ago INR4.14
600779.CH -- Sichuan Swellfun GM Hu Tingzhou resigns due to personal reasons, effective immediately
010130.KS -- Korea Zinc Co. reports Q1 operating profit KRW746.06B vs FactSet KRW668.07B [3 est, KRW611-706B]
8591.JP -- FTC grants antitrust clearance for Olympus' purchase of IX NTI Holdings from ORIX
543396.IN -- One 97 Communications (Paytm) reports Q4 consolidated net income attributable INR1.84B vs year-ago (INR5.40B)
000990.KS -- DB HITEK downgraded to hold from add at CGS International
1177.HK -- NMPA approves marketing of Sino Biopharmaceutical's culmerciclib combined with fulvestrant for initial endocrine therapy for HR-postiive, HER2-negative breast cancer
500251.IN -- Trent revises record date for one-for-two bonus share issuance to 4-Jun
544632.IN -- Meesho Ltd. reports Q4 consolidated EPS (INR0.36) vs FactSet (INR0.62) [4 est, (INR0.96)-(0.30)]
532977.IN -- Bajaj Auto appoints Rakesh Sharma as joint MD, effective 1-Jun
3017.TT -- Asia Vital Components reports April revenue NT$15.63B, +71.6% y/y
On Deck:
China:
Economic:
16:00 CST: FX Reserves; consensus
Hong Kong:
Earnings:
SJM Holdings (880.HK)
Japan:
Earnings:
Nojima (7419.JP), Sumitomo Forestry (1911.JP), Kyowa Kirin (4151.JP), Yokogawa Electric (6841.JP), MonotaRO (3064.JP), TADANO (6395.JP), Sukegawa Electric (7711.JP), Itoki Corp (7972.JP), Nagase & Co. (8012.JP)
South Korea:
Earnings:
Kakao (035720.KS), LG Corp (003550.KS), GS Retail Co. (007070.KS), Kumho Petrochemical Co. (011780.KS), SK Telecom (017670.KS), LG Uplus (032640.KS), KT&G Corp (033780.KS), CJ ENM (035760.KS), KOREA AEROSPACE INDUSTRIES (047810.KS), LIG Nex1 (079550.KS), CS Wind (112610.KS), Hugel (145020.KS), Netmarble (251270.KS), Studio Dragon (253450.KS), BGF Retail Co. (282330.KS), COWAY Co. (021240.KS), Kolmar Korea (161890.KS)
Australia:
Economic:
11:30 AEST: Trade Balance on Goods; consensus
Earnings:
Macquarie Group (MQG.AU), REA Group (REA.AU)
India:
Earnings:
MRF Ltd (500290.IN), Bajaj Holdings & Investment (500490.IN), Bharat Forge (500493.IN), Westlife Foodworld (505533.IN), Route Mobile (543228.IN), Lupin Ltd (500257.IN), Pidilite Industries (500331.IN), Thermax (500411.IN), Britannia Industries (500825.IN), Vardhman Textiles (502986.IN), Coromandel International (506395.IN), CCL Products (India) (519600.IN), Sonata Software (532221.IN), Biocon (532523.IN), Mahanagar Gas (539957.IN), Craftsman Automation (543276.IN), Vijaya Diagnostic Centre (543350.IN), ACME Solar Holdings (544283.IN)
Malaysia:
Economic:
03:00 EST: BN Overnight Policy Rate; consensus +2.8%
Singapore:
Earnings:
AIMS APAC REIT (O5RU.SP), StarHub (CC3.SP), United Overseas Bank Ltd. (Singapore) (U11.SP), United Overseas Bank Ltd. (Singapore) (U11.SP)
Taiwan:
Economic:
16:00 TST: CPI NSA Y/Y; consensus +1.9%
Earnings:
Uni-President Enterprises (1216.TT), Eclat Textile Co. (1476.TT), Yulon Motor (2201.TT), Acer Inc (2353.TT), Foxconn Technology (2354.TT), WT Microelectronics (3036.TT), Far EasTone Telecommunications (4904.TT), Wiwynn (6669.TT), Nan Ya Printed Circuit Board (8046.TT)
Thailand:
Economic:
07:00 SAST: CPI NSA Y/Y; consensus
Philippines:
Economic:
10:05 SST: GDP NSA Y/Y; consensus +4%
Market Data:
Gold (Jun 26): +$8.10 or +0.17% to $4702.40
WTI Crude (Jun 26): +$0.93 or +0.98% to $96.01
$-¥: (1.46) or (0.93%) to 156.4250
$-KRW: (21.57) or (1.47%) to 1445.7600
A$-$: +0.01 or +0.74% to 0.7236
$-INR: (0.56) or (0.59%) to 94.5468
$-CNY: (0.02) or (0.29%) to 6.8103
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