Jul 08 ,2026
Synopsis:
Asian markets set for mixed start to Thursday trade. Futures signaling opening gains in Japan and South Korea, negative starts in Hong Kong and Australia. S&P 500 futures unchanged afterhours. Australian bonds weakening after Treasury yields rose 1-4 bp in a curve flattening move overnight. Crude extending rebound to two-week high amid latest Middle East hostilities. Gold and silver steady. FX market price action muted. Bitcoin flat after pulling back from two-week high.
US continued miliary strikes against Iran on Wednesday, targeting its ability to threaten ships in Strait of Hormuz. Prompted another vow by Iran to retaliate against US assets in region. While Trump said ceasefire likely over he also did not put an end to talks, which seemed to reinforce skepticism about resumption in full-blown hostilities. Latest bout of hostilities nonetheless drove sharp rebound in crude with Hormuz fighting seen as risk to nascent recovery in shipping activity (tracking data has showed drop in transit in recent days).
Partial semi rebound overnight with SOX ending up 2%. Nothing specific behind the move with analysts viewing selling as function of crowded longs being unwound, exacerbated by extreme concentration in markets like South Korea where outsized role of leveraged ETFs are fueling declines. Markets have been reactive to headlines surrounding memory cost pressures and overcapacity, though Street maintaining conviction in the AI demand narrative with Samsung's preliminary Q2 drawing positive takeaways amid recent share price volatility.
In economic developments, China inflation data forecast to show minor change in CPI inflation and a further pickup in factory-gate inflation amid recent surge in raw material costs. On corporate front, AAPL AirPods assembler Luxshare Precision debuts in Hong Kong. Latest Bloomberg report noted SK Hynix's (000660.KS) US listing seven times oversubscribed. The Information reported China to allow firms like Alibaba (9988.HK), ByteDance and DeepSeek to acquire limited amounts of NVDA's H200 processors.
Pre-open Company News:
6082.HK -- Biren Technology completes 153.0M shares placement at HK$46.2/share
2105.TT -- Cheng Shin Rubber Ind. reports June revenue NT$8.57B, +15.0% y/y
2474.TT -- Catcher Technology reports June revenue NT$804.7M, (55.1%) y/y
1052.HK -- Yuexiu Transport Infrastructure reports May toll revenues
272.HK -- Shui On Land reports H1 contracted property sales CNY2.96B; StreetAccount notes the year-ago figure was CNY3.47B
CPCA issues June China national passenger vehicle market analysis
509488.IN -- Graphite India publishes Business Responsibility and Sustainability Report for FY2025-26
J2T.SP -- Hock Lian Seng Holdings guides for H1 operating loss vs year-ago pretax income SG$10.0M
3908.HK -- China International Capital guides H1 net income attributable CNY7.71-8.23B vs year-ago CNY4.33B
1347.HK -- Hua Hong Grace Semiconductor providees further update on transaction involving acquisition of share capital in Huali Microelectronics
2327.TT -- Yageo reports June revenue NT$15.36B, +38.9% y/y
5711.JP -- Mitsubishi Materials prices convertible bond issuance; conversion price set at ¥5,275 for due 2030s, ¥5,105 for due 2032s
TKMS ready to formalize submarine contract; Hanwha to end partnership with Ontario Shipyards:
513683.IN -- NLC India and NALCO sign JV agreement for 1,080 MW captive thermal power project at Angul
On Deck:
China:
Economic:
09:30 CST: PPI NSA Y/Y; consensus +4.1%
09:30 CST: CPI NSA Y/Y; consensus +1.2%
Japan:
Earnings:
FAST RETAILING (9983.JP), Seven & I Holdings (3382.JP), Kewpie (2809.JP), Rorze Corp (6323.JP), Sugi Holdings (7649.JP), Onward Holdings (8016.JP), Fuji Co. (8278.JP), AEON Financial Service (8570.JP), Nomura Co. (9716.JP)
India:
Earnings:
Anand Rathi Wealth (543415.IN)
Malaysia:
Economic:
03:00 EST: BN Overnight Policy Rate; consensus +2.8%
Taiwan:
Economic:
16:00 TST: Export NSA Y/Y; consensus +51.5%
Market Data:
Gold (Aug 26): +$3.70 or +0.09% to $4086.10
WTI Crude (Aug 26): +$0.90 or +1.22% to $74.42
$-¥: +0.45 or +0.28% to 162.5600
$-KRW: (9.12) or (0.60%) to 1505.3500
A$-$: +0.00 or +0.04% to 0.6933
$-INR: +0.56 or +0.59% to 95.8618
$-CNY: +0.01 or +0.12% to 6.8023
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