Jul 02 ,2026
Synopsis:
Asian markets set for mixed start to Friday trade. Futures signaling opening declines in Japan and South Korea, positive start in Australia and flat open in Hong Kong. S&P 500 futures steady afterhours. Australian bonds little changed after Treasury yields ended unchanged to stronger at the short end. Crude holding near settlement close. Silver and gold remain higher. FX markets steady after dollar retreated on soft US payrolls data. Bitcoin rose to highest in over a week.
Semi selloff continued into offshore session with SOX down another 5%. AI trade under strain amid concerns over rising memory cost pressures on tech hardware firms and associated risk to memory demand with Apple reportedly looking to alternative suppliers. Report Meta planning to sell excess compute tying into concerns about overcapacity that were also flagged by BIS earlier this week. Competitive threats from China's cheaper, open source, LLMs also getting attention with comparable performance metrics to established models. Still sense semi/memory selloff more a function of technicals, crowded longs while leverage magnifying downside in South Korea.
Asia FX volatility another focus with yen and Korean won stabilizing. Nothing specific behind the recovery with dollar weakening more broadly after US nonfarm payrolls came in softer and led markets to dial back already slim odds of a July rate hike (though still see 25 bp hike as likely in September). Markets alert to yen intervention risks after Reuters sources noted Japan officials leaning on surprise approach to squeeze speculators. Nothing particularly incremental from South Korea's FX chief on Thursday, who said Seoul in close contact with Japan and others on FX matters.
Pre-open Company News:
500188.IN -- Hindustan Zinc reports Q1 mined metal production 268kt, +1% y/y
322.HK -- Tingyi (Cayman Islands) Holding upgraded to buy from hold at HSBC
2371.JP -- EQT vehicle Kamgras 1 to extend tender offer for Kakaku.com to 16-Jul from 2-Jul
2238.HK -- Guangzhou Automobile Group reports June vehicle production 145K vs year-ago 153K
688169.CH -- Beijing Roborock Technology completes 3.0M share buyback for CNY300.0M
000792.CH -- Qinghai Salt Lake Industry guides H1 net income attributable CNY6.00-6.30B vs year-ago CNY2.59B
512599.IN -- Adani Enterprises launches QIP at floor price of INR3,034.68/share
1093.HK -- CSPC Pharmaceutical Group enters collaboration and licensing agreement with AstraZeneca for siRNA drugs
600276.CH -- Jiangsu Hengrui Pharmaceuticals obtains NMPA approval for phase II clinical trial of SHR-8068
540376.IN -- Avenue Supermarts reports Q1 prelim. standalone revenue from operations INR183.43B vs year-ago INR159.32B
300765.CH -- CSPC Innovation Pharma receives NMPA's breakthrough therapy designation for SYS6043
300296.CH -- Leyard Optoelectronic proposes CNY100.0-200.0M buyback, to run for 12 months
1093.HK -- CSPC Pharmaceutical Group starts phase I trial of SYH2095 for advanced malignant tumours in China
CCM -- Concord Medical Services Holding CFO Wei Jang steps down, effective 30-Jun-26 - 6-K
On Deck:
Japan:
Earnings:
ASKUL Corp (2678.JP), Kasumigaseki Capital (3498.JP), Hiday Hidaka (7611.JP), Arcs Co. (9948.JP)
Market Data:
Gold (Aug 26): +$16.40 or +0.40% to $4142.10
WTI Crude (Aug 26): ($0.22) or (0.32%) to $68.47
$-¥: (1.26) or (0.78%) to 161.3280
$-KRW: (15.98) or (1.03%) to 1534.5800
A$-$: +0.00 or +0.33% to 0.6916
$-INR: +0.31 or +0.33% to 95.5271
$-CNY: (0.01) or (0.10%) to 6.7879
This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to "Terms Of Use".
DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE