Jun 29 ,2026
Synopsis:
Asian markets set for somewhat positive start to Tuesday trade. Futures pointing to opening gains in Japan while Hong Kong, South Korea and Australia tracking for flat open. S&P 500 futures unchanged afterhours. Australian bonds flat after Treasuries ended mixed overnight with modest curve flattening. Crude easing from earlier highs that followed weekend US-Iran skirmish. Gold and silver little changed. FX markets steady after yen dropped to 40-year low against dollar. Bitcoin fluctuating around $60K.
Positive leads for Asian chip stocks from US semi rally with SOX closing up 43%. No specific catalyst behind the bounce, which follows recent underperformance attributed to concerns about memory cost pressures affecting tech hardware firms and risk to demand. Yen weakness the big story in FX markets after currency fell to 40-year low, renewing intervention speculation. Geopolitical tensions resurfaced with Iran vowing to control Strait of Hormuz. Technical talks resume Tuesday following recent tit-for-tat with US.
China official PMIs forecast to show manufacturing sector eked out minor growth. Activity gauges will get usual attention after May PMI showed elevated cost inflation pressures while new orders and new export orders returned to contraction. Non-manufacturing PMI forecast to have slipped back into contraction. RBA minutes will be eyed for hawkish signals after Governor Bullock said June's hold decision did not preclude further tightening. New Zealand business confidence, South Korean and Japan industrial production also due out.
Pre-open Company News:
119.HK -- Poly Property Group initiated buy at Changjiang Securities (timing uncertain)
175.HK -- Geely Automobile Holdings upgraded to buy from overweight at Northeast Securities (timing uncertain)
9896.HK -- MINISO Group Holding approves new HK$2B buyback program, to run for 12 month from 30-Jun
884.HK -- CIFI Holdings (Group) defaults on Option 2 Minimum Cash; unable to obtain sufficient financing resources
AGS.SP -- The Hour Glass releases annual report 2026 including sustainability report beginning on page 48
532215.IN -- Axis Bank CFO Puneet Sharma steps down to pursue next phase of professional journey, effective 31-Aug
4523.JP -- Eisai to present latest findings from Alzheimer's disease research at AAIC 2026
003021.CH -- Shenzhen Zhaowei Machinery & Electronics approves up to HK$120M buyback
3952.HK -- Laifual Drive's 13.4M-share Hong Kong IPO priced at HK$85.50/share
532321.IN -- Zydus Lifesciences further extends closing date of acquisition of Sterling Biotech's API business to 26-Sep
002456.CH -- OFILM Group completes acquisition of remaining 28.2% stake in OFILM Microelectronics as announced 28-Apr
543390.IN -- PB Fintech initiated buy at Elara Capital
002266.CH -- Zhefu Holding Group upgraded to buy at China Post Securities (timing uncertain)
5801.JP -- Furukawa Electric Co. upgraded to buy from neutral at SBI Securities Japan
PFE -- PADCEV approved in Canada for patients with Muscle-Invasive Bladder Cancer unable to receive Cisplatin-based therapy
On Deck:
China:
Economic:
09:30 CST: CFLP PMI Manufacturing; consensus 49.8
09:30 CST: CFLP Non Manufacturing PMI; consensus 49.6
09:30 CST: CFLP Services PMI; consensus
Hong Kong:
Earnings:
Want Want China Holdings (151.HK), DL Holdings Group (1709.HK), L.K. Technology Holdings (558.HK), Cathay Pacific Airways (293.HK)
Japan:
Economic:
08:30 JST: Unemployment Rate; consensus 2.5%
08:50 JST: Industrial Production SA M/M (Preliminary); consensus +1.3%
14:00 JST: Housing Starts NSA Y/Y; consensus +35.8%
Earnings:
Takashimaya (8233.JP), and ST (2685.JP), J. FRONT RETAILING (3086.JP)
Australia:
Economic:
11:30 AEST: Private Sector Credit M/M; consensus
Earnings:
Zip Co (ZIP.AU)
Singapore:
Earnings:
CapitaLand Ascendas REIT (A17U.SP), CapitaLand China Trust (AU8U.SP), Alpha Integrated REIT (M1GU.SP)
Market Data:
Gold (Aug 26): ($7.80) or (0.19%) to $4031.10
WTI Crude (Aug 26): ($0.53) or (0.75%) to $70.22
$-¥: +0.17 or +0.11% to 161.9180
$-KRW: +4.84 or +0.32% to 1540.0000
A$-$: (0.00) or (0.19%) to 0.6883
$-INR: +0.51 or +0.54% to 94.7905
$-CNY: (0.00) or (0.07%) to 6.7935
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