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StreetAccount Summary - Asian Market Preview: Nikkei Futures +1.23%, Hang Seng Futures (0.06%), ASX SPI 200 (0.48%), S&P Futures (0.20%)

May 10 ,2026

  • Synopsis:

    • Asian markets set for mixed start to Monday trade. Futures signaling opening gains in Japan, flat start in Hong Kong and initial declines in Australia. S&P 500 futures down slightly after US indexes capped off sixth straight weekly gain. Australian yields higher at the front end of the curve. Crude strengthening amid latest US-Iran diplomacy setback. Gold and silver both lower. Dollar firming slightly against majors. Bitcoin rallying.

    • US-Iran talks hit a familiar roadblock after President Trump rejected Iran's latest proposal, which appeared to fall far short of US demands. Two sides remain apart on nuclear issue with Iran reportedly offering only partial handover of HEU stockpiles to third country and much shorter enrichment moratorium, while continuing to assert right over Strait of Hormuz. Developments leave two sides at stalemate with US maintaining blockade, Iran preventing shipping through Strait of Hormuz and Trump reportedly reluctant to restart military action.

    • China inflation data (Mon) forecast to show another pickup in factory-gate inflation, reflecting surge in raw material prices. CPI inflation seen little changed from March. April trade data showed export growth much stronger than expected, tracking PMI data showing momentum in new export orders. However, some note of caution with export strength considered function of stockpiling amid Iran war uncertainty. Import growth came in higher than expected, though crude imports were down sharply.

    • BOJ Summary of Opinions (Tues) will show board member views that informed last week's hold decision, which featured three dissents. Japan household spending (Tues) forecast to show another contraction. Central bank speakers include RBNZ Governor Breman (Tues), BOJ's Masu and Deputy Governor Himino. US CPI (Tues) forecast to show energy-driven headline inflation jump while core inflation seen rising more modestly. Australian budget (Tues) will be watched for any cost-of-living relief. Trump-Xi summit expected to feature talks on Iran, Taiwan, AI and agricultural purchases. Asia tech earnings continue with SoftBank, Hon Hai Precision, Tencent and Alibaba reporting.

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