Jul 01 ,2026
Synopsis:
Asian markets set for negative start to Thursday trade. Futures signaling steep opening declines in South Korea and Japan, and mild initial losses in Australia. Hong Kong resumes trade after being offline Wednesday. S&P 500 futures unchanged afterhours. Australian bonds weakening after Treasury yields extended their recent upshift. Dollar remains near 40-year high against yen, financial crisis highs against Korean won. Crude back down to early February lows. Gold and silver retreating from earlier highs. Bitcoin fluctuating around $60K.
Semis/memory sold off overnight with SOX ending down 6%. Follows Wednesday's memory pullback in Asia where Samsung and SK Hynix drove Kospi's selloff. Continues volatile stretch with selling episodes attributed to combination of stretched positioning and overbought conditions while rebounds tabbed to dip buying activity. Won depreciation pressures another factor suspected of driving foreign selling of Korean equities. No change in fundamentals with strategists continuing to upgrade memory earnings and PTs amid elongated HBM pricing tailwinds.
South Korean CPI inflation rose in-line with forecasts to highest since Dec-2023 amid surge in petroleum prices. Core measure unchanged. Comes after BOK shifted to hawkish rate stance and foreshadowed rate hikes amid rising inflation. US nonfarm payrolls the other main data point with consensus looking for a pullback from May's outsized increase in headline employment. Speaking at ECB central banking forum in Sintra, Fed Chair Warsh said inflation risks have subsided though he didn't offer anything of substance on policy.
Pre-open Company News:
2196.HK -- Shanghai Fosun Pharmaceutical (Group) Co. promotes co-president Xingli Wang as president, effective 1-Jul
600104.CH -- SAIC Motor reports June vehicle sales 394,798 units vs year-ago 365,306 units
500570.IN -- Tata Motors Passenger Vehicles reports June sales 63,083 units vs StreetAccount 55,835 units
544045.IN -- DOMS Industries completes acquisition of assets from Reynolds Pens; deal was announced on 10-Jun
7994.JP -- Okamura downgraded to 2-neutral from 1-outperform at SMBC Nikko
SITM -- SiTime completes acquisition of Renesas timing business; deal was announced 4-Feb
002594.CH -- BYD Co. reports June vehicle production volume 403,246 units vs year-ago 345,066 units
500040.IN -- Aditya Birla Real Estate releases FY2025-26 annual report, including business responsibility and sustainability report beginning on page 240
500265.IN -- Insider transaction: Maharashtra Seamless holder Odd & Even Trades & Finance discloses purchase of 1.7M shares
526371.IN -- NMDC Ltd reports June iron ore production 5.15 Mt vs year-ago 3.57 Mt
6758.JP -- Sony discontinues disc production for all new games releasing on PlayStation consoles starting Jan-28
005380.KS -- Hyundai Motor releases 2026 sustainability report
500257.IN -- Europe's EMA approves change to the terms of marketing authorization for NaMuscla
PTTGC.TB -- PTT Global Chemical completes disposal of Vencorex U.S. and Vencorex Thailand to Covestro AG; deal announced 14-Aug
2617.HK -- TransThera Sciences (Nanjing) completes enrollment for global multicenter registrational Phase III clinical trial for Tinengotinib in CCA
On Deck:
Japan:
Earnings:
Kusuri No Aoki Holdings (3549.JP), Daiseki (9793.JP)
South Korea:
Economic:
08:00 KST: CPI M/M; consensus +0.2%
08:00 KST: CPI NSA Y/Y; consensus +3.2%
Australia:
Economic:
11:30 AEST: Trade Balance on Goods; consensus
Market Data:
Gold (Aug 26): ($32.80) or (0.80%) to $4049.60
WTI Crude (Aug 26): ($0.61) or (0.89%) to $67.97
$-¥: (0.02) or (0.01%) to 162.5570
$-KRW: +4.44 or +0.29% to 1552.6600
A$-$: (0.00) or (0.44%) to 0.6889
$-INR: +0.92 or +0.97% to 95.4175
$-CNY: +0.00 or +0.00% to 6.7934
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