May 31 ,2026
Synopsis:
Asian markets set for mixed start to Monday trade. Futures signaling small opening declines in Japan and Australia, and mild initial gain in Hong Kong. S&P 500 futures steady after index posted fresh record high on Friday. Australian bonds weakening, contrasting with retreat in Treasury yields Friday. Crude rebounding following latest wrinkle in US-Iran negotiations. Gold and silver weakening. FX markets steady. Bitcoin drifting up from mid-April lows.
US-Iran ceasefire negotiations continue with press reports noting President Trump sent revised terms back to Tehran, seeking firmer commitments on nuclear concessions and reiterating demands for unrestricted Strait of Hormuz shipping. Release of frozen Iranian funds has been a point of debate. Israel's ground incursion into Lebanon another potential complication after Iran stipulated end to war there before any agreement. While deal expectations are elevated, latest developments reinforced path remains bumpy with risk of derailment.
China official PMIs showed manufacturing growth stalled as expected in May with new orders and export orders returning to contraction. Non-manufacturing PMI returned to marginal growth with services activity highest since Aug-2025. Looking ahead, China RatingDog manufacturing (Mon) forecast to have slipped though remaining in expansion territory. Asia PMIs will be read through for extent of input cost pressures while major exporters seen maintaining expansion amid surging tech shipments. South Korean trade data (Mon) expected to show similarly strong export growth to prior month amid another massive increase in semiconductor shipments. Japan Q1 capital spending also due out.
Pre-open Company News:
9996.HK -- Peijia Medical subsidiary Achieva Medical enters into exclusive distribution agreement with B. Braun Medical for SeQuent Please CIS in mainland China
6990.HK -- Sichuan Kelun-Biotech Biopharmaceutical presents results of Phase III study of sacituzumab tirumotecan at ASCO
523457.IN -- Linde India reports Q4 consolidated EPS INR9.08 vs year-ago INR13.88
LLY -- Eli Lilly reports results from Phase 3 LIBRETTO-432 study presented at ASCO and published in NEJM
500410.IN -- ACC Ltd releases business responsibility and sustainability report
543768.IN -- Nmdc Steel reports Q4 EPS INR1.34 vs year-ago (INR1.62)
1177.HK -- Sino Biopharmaceutical reports data from Phase I first-in-human study of TQB6411 "EGFR/c-Met ADC" presented at ASCO
PFE -- Pfizer reports detailed progression-free and overall survival results from Cohort 3, a randomized cohort of the Phase 3 BREAKWATER trial
532942.IN -- KNR Constructions completes sale of KNR Palani Infra for INR2.05B; deal was announced on 25-Dec
9939.HK -- Kintor Pharmaceutical reports KX-826 phase II clinical trial and combination therapy study data presented at World Congress for Hair research
500368.IN -- Patanjali Foods reports Q4 standalone EPS INR4.82 vs year-ago INR3.30
2550.HK -- Easou Technology Holdings launches HK$20M on-market share buyback to run for six months
543A.JP -- ARCHION upgraded to neutral from sell at Citi
BS6.SP -- Yangzijiang Shipbuilding (Holdings) completes acquisition of 10% interest in Poseidon Corp.announced on 10-Mar
100.HK -- MiniMax Group proposes A-share issuance on STAR Market
On Deck:
Japan:
Earnings:
ITO EN (2593.JP)
South Korea:
Economic:
11:00 KST: Trade Balance NSA; consensus
11:00 KST: Import NSA Y/Y; consensus
11:00 KST: Export NSA Y/Y; consensus
Market Data:
Gold (Aug 26): ($17.30) or (0.38%) to $4575.70
WTI Crude (Jul 26): +$2.15 or +2.46% to $89.51
$-¥: +0.10 or +0.06% to 159.3740
$-KRW: (0.97) or (0.06%) to 1506.4900
A$-$: (0.00) or (0.04%) to 0.7180
$-INR: +0.03 or +0.03% to 95.0164
$-CNY: (0.00) or (0.01%) to 6.7654
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