Jul 09 ,2026
Synopsis:
Asian markets set for positive start to Friday trade. Futures signaling sharp opening gains in South Korea. Japan and Hong Kong tracking for early morning strength while Australia flat. S&P 500 futures unchanged afterhours. Australian bonds weakening, contrasting with Treasury yield curve bull steepening overnight. Crude steady after pulling back from two-week high. Gold and silver just off earlier highs. FX price action muted. Bitcoin flat.
Momentum outperformed Thursday with SOX up 3%. Bounce seemed to support arguments recent selloff overdone amid a still-favorable fundamental backdrop. Hyperscaler capex narrative helped by report Meta doubling compute capacity with plans to begin production of new AI chip. Hype continues to build ahead of SK Hynix's US trading debut on Friday, raising ~$27B at $149/sh (representing 3% premium to Kospi close Thursday). AMAT CEO also talked up extended semi cycle and strong visibility.
Middle East hostilities a press focus though oil partially retracted rally after US held off on third day of strikes. Markets remain skeptical of a resumption of war with Axios highlighting diplomatic efforts to de-escalate tensions and return two sides to talks. Iran's determination to control Strait of Hormuz leaves open risk of future flare-ups amid reports White House preparing for prolonged exchange of fire. Tracking data shows uncertainty has chilled Hormuz shipping activity though also comes on back of recent supply glut headlines..
Pre-open Company News:
000932.CH -- Hunan Valin Steel guides H1 net income attributable CNY200.0-300.0M vs year-ago CNY1.75B
2588.HK -- BOC Aviation reports Q2 total fleet of 811 aircraft owned, managed and on order
543904.IN -- Mankind Pharma releases FY2025-26 annual report, including business responsibility and sustainability report beginning on page 173
601168.CH -- Western Mining guides H1 net income attributable CNY4.00-4.30B vs year-ago CNY1.87B
301200.CH -- Shenzhen Han's CNC Technology guides H1 net income attributable CNY900.0M-1.00B vs year-ago CNY263.3M
8923.JP -- Tosei Corp initiated buy at SBI Securities Japan
2513.HK -- Knowledge Atlas Technology upgraded to outperform from hold at CLSA
603638.CH -- Yantai Eddie Precision Machinery guides H1 net income attributable CNY298.1-308.0M vs year-ago CNY207.0M
2899.HK -- Zijin Mining Group guides H1 net income attributable CNY39.10B vs year-ago CNY23.29B
2637.HK -- Haixi Pharmaceuticals initiates phase III trial of C019199 for osteosarcoma
189.HK -- Dongyue Group guides H1 net income attributable to increase by 31% y/y; implying CNY1.02B vs year-ago CNY779.2M
817.HK -- China Jinmao Holdings Group reports June contracted sales CNY15.77B; StreetAccount notes the year-ago figure was CNY15.60B
090430.KS -- Amorepacific upgraded to buy from neutral at Goldman Sachs
992.HK -- Lenovo Group upgraded to overweight from equal-weight at Morgan Stanley
On Deck:
Japan:
Economic:
08:50 JST: Domestic CGPI NSA Y/Y; consensus
Earnings:
DIP Corp (2379.JP), Jins Holdings (3046.JP), AEON Co. (8267.JP), OSG Corp (6136.JP), Takeuchi Mfg. (6432.JP), YASKAWA Electric (6506.JP), YASKAWA Electric (6506.JP), Furuno Electric (6814.JP), Ryohin Keikaku (7453.JP), Kohnan Shoji (7516.JP), Belc Co. (9974.JP)
India:
Earnings:
Bank of Maharashtra (532525.IN), Just Dial (535648.IN), Elecon Engineering (505700.IN), L&T Finance (533519.IN)
Taiwan:
Earnings:
Nanya Technology (2408.TT)
Market Data:
Gold (Aug 26): ($9.40) or (0.23%) to $4131.40
WTI Crude (Aug 26): ($0.26) or (0.36%) to $71.82
$-¥: (0.25) or (0.15%) to 162.3590
$-KRW: +0.59 or +0.04% to 1505.8900
A$-$: +0.00 or +0.14% to 0.6940
$-INR: (0.03) or (0.03%) to 95.6682
$-CNY: (0.01) or (0.17%) to 6.7919
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