May 07 ,2026
Synopsis:
Asian markets set for negative start to Friday trade. Futures signaling opening declines in Japan, Hong Kong and Australia. S&P 500 futures down slightly afterhours following tech-led retreat overnight. Australian bond yields swinging higher, in-line with Treasury yield backup Thursday. Crude strengthening following latest US-Iran skirmish in Strait of Hormuz. Gold and silver retreating. FX markets steady with dollar seeing late strength against majors. Bitcoin backed down to $80K.
Markets jolted by another exchange of fire between US and Iran in Strait of Hormuz. Trump confirmed US countered Iranian attacks against US naval destroyers transiting the waterway, though also downplayed skirmish and said ceasefire remains in effect. Tensions remain high as US awaits Iranian response to 14-point peace plan. While markets seem to be pricing in agreement that ends hostilities, it remains unclear whether Tehran will yield to American red lines on nuclear program and control of Strait of Hormuz.
Tech pullback in focus after SOX index snapped of run of gains to end down 3% Thursday. Semis/memory the main decliners in US. Accelerating data center demand for server memory, CPUs and GPUs the key component of the bullish AI narrative lately, underpinning record-setting moves among Asia's tech megacaps this week. However, speed of the rally also invited talk about buildup of market froth, growing breadth and concentration risks and technical signals moving further into overbought territory.
Pre-open Company News:
3034.TT -- Novatek Microelectronics guides Q2 revenue NT$27.5-28.5B vs FactSet NT$24.96B [15 est, NT$23.98-26.18B]
2345.TT -- Accton Technology reports Q1 EPS NT$14.92 vs FactSet NT$12.85 [10 est, NT$10.92-13.81]
1996.HK -- Redsun Properties Group reports April contracted sales CNY179M; StreetAccount notes the year-ago figure was CNY490M
500331.IN -- Pidilite Industries reports Q4 consolidated net income attributable INR5.79B vs StreetAccount INR5.25B
3933.HK -- NMPA approves United Laboratories International's UBT38006 injection clinical trial for diabetics
1233.HK -- Times China Holdings reports April contracted sales CNY320M; StreetAccount notes the year-ago figure was CNY560M
021240.KS -- COWAY Co. declares quarterly DPS KRW700; StreetAccount notes the company did not pay quarterly dividend year-ago
Hong Kong stock connect daily turnover
500387.IN -- Shree Cement downgraded to add from buy at Emkay Research
543335.IN -- Aptus Value Housing Finance India upgraded to buy from hold at IDBI Capital Markets
500495.IN -- Escorts Kubota reports Q4 standalone net profit from cont. ops INR3.25B vs FactSet INR3.42B [11 est, INR2.90-3.65B]
2353.TT -- Acer Inc reports Q1 EPS NT$0.23 vs FactSet NT$0.38 [2 est, NT$0.33-0.43]
500096.IN -- Dabur India reports Q4 consolidated EPS INR2.07 vs FactSet INR2.00 [9 est, INR1.80-2.56]
OR.TB -- PTT Oil & Retail Business Public Co. reports Q1 EPS THB0.20 vs FactSet THB0.26 [7 est, THB0.20-0.38]
BSE.IN -- BSE Ltd reports Q4 consolidated EPS INR19.35 vs year-ago INR12.00
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:
Ono Pharmaceutical (4528.JP), MARUWA (5344.JP), Japan Tobacco (2914.JP), TIS Inc. (3626.JP), LY Corp. (4689.JP), JFE Holdings (5411.JP), Kubota (6326.JP), Sony (6758.JP), Taiyo Yuden (6976.JP), IHI (7013.JP), Toyota Motor (7203.JP), Nikon Corp (7731.JP), Yamaguchi Financial Group (8418.JP), Ricoh Leasing (8566.JP), KATITAS (8919.JP), Kawasaki Kisen Kaisha (9107.JP), SG Holdings (9143.JP), NTT, Inc. (9432.JP), KONAMI (9766.JP), Tokyu Construction (1720.JP), Penta-Ocean Construction (1893.JP), Ezaki Glico (2206.JP), Prima Meat Packers (2281.JP), NH Foods (2282.JP), Kakaku.com (2371.JP), Seria Co. (2782.JP), The Monogatari (3097.JP), TOKAI Holdings (3167.JP), Food & Life Companies (3563.JP), GungHo Online Entertainment (3765.JP), JMDC Inc (4483.JP), T. Hasegawa (4958.JP), Kobayashi Pharmaceutical (4967.JP), Nitta Corp (5186.JP), Nippon Yakin Kogyo Co. (5480.JP), Toho Titanium (5727.JP), Iyogin Holdings (5830.JP), Shibuya (6340.JP), Brother Industries (6448.JP), Hochiki (6745.JP), Hosiden (6804.JP), Obara Group (6877.JP), Nichicon (6996.JP), Zenkoku Hosho (7164.JP), Tokyo Kiraboshi Financial Group (7173.JP), Mitsubishi Motors (7211.JP), ShinMaywa Industries (7224.JP), Colowide (7616.JP), Nintendo (7974.JP), Okamura (7994.JP), Yuasa Trading (8074.JP), Unicharm (8113.JP), Mitsuuroko Group Holdings (8131.JP), K's Holdings (8282.JP), Nanto Bank (8367.JP), Seven Bank (8410.JP), Keisei Electric Railway (9009.JP), NIKKON Holdings (9072.JP), Iino Kaiun Kaisha (9119.JP), Osaka Gas (9532.JP), Japan Airport Terminal (9706.JP), NSD Co. (9759.JP), Yamada Holdings (9831.JP), Yellow Hat (9882.JP)
South Korea:
Earnings:
DL Holdings (000210.KS), HANKOOK TIRE & TECHNOLOGY Co. (161390.KS), DONGWON INDUSTRIES (006040.KS), HDC HOLDINGS (012630.KS), Korea District Heating (071320.KS), Seegene (096530.KS), Kolon Industries (120110.KS), PharmaResearch (214450.KS), WONIK IPS (240810.KS)
India:
Earnings:
Titan (500114.IN), Tata Consumer Products (500800.IN), Ujjivan Small Finance Bank (542904.IN), Balkrishna Industries (502355.IN), Cera Sanitaryware (532443.IN), Oberoi Realty (533273.IN), Multi Commodity Exchange of India (534091.IN), Vedant Fashions (543463.IN)
Singapore:
Earnings:
Oversea-Chinese Banking Corp. (O39.SP), Frasers Property (TQ5.SP)
Taiwan:
Economic:
16:00 TST: Export NSA Y/Y; consensus +55%
Earnings:
Walsin Lihwa (1605.TT), HIWIN Technologies (2049.TT), King Yuan Electronics (2449.TT), China Airlines (2610.TT), Tripod Technology (3044.TT), Alchip Technologies (3661.TT), Voltronic Power Technology (6409.TT), Giant Manufacturing (9921.TT)
Thailand:
Earnings:
Thai Oil Public (TOP.TB), Regional Container Lines Public (RCL.TB)
Market Data:
Gold (Jun 26): ($4.90) or (0.10%) to $4706.00
WTI Crude (Jun 26): +$2.38 or +2.51% to $97.19
$-¥: +0.49 or +0.31% to 156.8840
$-KRW: +9.24 or +0.64% to 1454.7900
A$-$: (0.00) or (0.48%) to 0.7202
$-INR: (0.10) or (0.11%) to 94.5088
$-CNY: (0.01) or (0.15%) to 6.8009
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