Jun 23 ,2026
Synopsis:
Asian markets set for mixed start to Wednesday trade. Futures signaling opening decline in Japan and South Korea, and gains in Australia and Hong Kong. S&P 500 futures flat afterhours. Australian bonds strengthening in-line with Treasury curve bull steepening. FX markets steady after dollar index climbed to 13-month high. Crude extending losses in post-settlement trade. Gold and silver also adding to declines. Bitcoin little changed.
AI/momentum sell-off carried into US session with memory and semis under pressure (SOX ended down 8%). No one factor attributed for a selloff that was considered more a function of technicals and stretched positioning. Extreme volatility in South Korea saw Kospi lose 10% Tuesday with selloff inviting more scrutiny on speculative froth, record margin debt and leveraged, single stock ETFs exacerbating swings. Also some attention to reports SK Hynix slowing production of HBM4 to focus more on DRAM.
In other developments, MSCI's 2026 classification review postponed review into Indonesia amid earlier speculation about a downgrade to frontier status. South Korea's emerging market status maintained though MSCI cited continued issues related to market accessibility and delayed review into potential reclassification to Developed Market status. Politico sources said US Commerce Secretary Lutnick signaled to executives administration could act against Chinese robotics imports.
Pre-open Company News:
1177.HK -- Sino Biopharmaceutical receives NMPA marketing approval for peceleganan spray
542830.IN -- Indian Railway Catering and Tourism Corporation chairman & MD Sanjay Kumar Jain resigns, effective 20-Jul
1672.HK -- FDA issues IND clearance to Ascletis Pharma's ASC35 phase I trial for treatment of obesity
512599.IN -- Adani Enterprises initiated overweight at Morgan Stanley
002468.CH -- STO Express launches CNY350.0-450.0M buyback programme at up-to-CNY22/share
RCR.PM -- Robinsons Land approves property-for-share swap with RL Commercial REIT; RLC to subscribe to 1.29B-shares of RCR at PHP8.25/share
2576.HK -- Zhejiang Taimei Medical Technology to launch buyback program at up to HK$11/share under mandate
2627.HK -- Ab&B Bio-Tech receives NMPA IND approval for mRNA mpox vaccine
688120.CH -- Hwatsing Technology downsizes proposed private placement to CNY3.80B from CNY4.00B
7220.JP -- Musashi Seimitsu Industry downgraded to neutral from buy at SBI Securities Japan
4911.JP -- Shiseido upgraded to equal-weight from underweight at Morgan Stanley
EMI.PM -- Emperador upgraded to hold from underperform at CLSA
500570.IN -- Tata Motors Passenger Vehicles guides FY29 revenue in excess of INR5.000T
CC3.SP -- StarHub CEO Nikhil Eapen to step down at end-2026
On Deck:
Hong Kong:
Earnings:
Alliance International Education Leasing Holdings (1563.HK), China Dongxiang (Group) (3818.HK), Trip.com Group (9961.HK)
Market Data:
Gold (Aug 26): ($35.20) or (0.85%) to $4114.20
WTI Crude (Aug 26): ($0.46) or (0.63%) to $72.75
$-¥: (0.04) or (0.02%) to 161.5470
$-KRW: (7.46) or (0.48%) to 1530.7600
A$-$: (0.01) or (1.39%) to 0.6910
$-INR: +0.61 or +0.65% to 95.1835
$-CNY: +0.01 or +0.22% to 6.7896
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