Jul 12 ,2026
Synopsis:
Asian markets set for positive start to Monday trade. Futures signaling opening gains in Japan, South Korea, Australia and Hong Kong. S&P 500 futures weakening. Australian bond yields tracking Friday's Treasury curve bear steepening. Crude rallying amid US-Iran escalation headlines. Gold and silver extending declines. Dollar up slightly against yen. Bitcoin little changed.
Middle East hostilities pushing crude higher after US and Iran exchange more fire over weekend. US struck more targets aimed at degrading Iran's ability to threaten ships in Strait of Hormuz. IRGC fired at another commercial vessel and declared Hormuz "closed", retaliating with strikes against US facilities across Gulf states. Tracking data showed a marked drop in Hormuz shipping activity though Joint Maritime Information Center said Omani side remains open of transit. Escalation heightening doubts about ceasefire and prospects of negotiations, though return to full-blown war still considered doubtful.
Reuters sources said BOJ may upgrade FY26 growth forecasts at July MPM, where it is expected to keep interest rates unchanged. Sources added that while BOJ may reduce CPI projections amid lower oil prices, it will remain vigilant about upside inflation risks. Nikkei sources noted government will prod GPIF to invest more in alternative assets. Comes after Finance Minister Katayama on Friday said government wants pension funds including GPIF to substantially increase investments in domestic assets.
China headlines data releases with Q2 GDP, June activity indicators (Wed), credit and trade data (unscheduled) on tap. Thursday's BOK meeting expected to result in 25 bp rate hike. New Zealand Q2 CPI (Tues) expected to show energy-driven surge in inflation largely. Singapore Q2 GDP (Tues) and Australian consumer and business surveys (Tues) among handful of other Asian releases. Big macro week overseas with US CPI and Fed Chair Warsh Congressional testimony. TSMC reports Q2 Thursday..
Pre-open Company News:
600884.CH -- Ningbo Shanshan guides H1 net income attributable CNY750-900M vs year-ago CNY207.3M
1910.HK -- Samsonite Group downgraded to hold from buy at HSBC
601127.CH -- SERES Group guides H1 net income attributable (CNY1.50B)-(CNY1.50B) vs year-ago CNY2.94B
Morgan Stanley downgrades 1268.HK, 3669.HK, 881.HK
9023.JP -- Tokyo Metro reports preliminary June transportation revenue ¥29.93B, +2.1% y/y
540376.IN -- Avenue Supermarts reports Q1 Standalone PAT INR9.36B vs StreetAccount INR9.33B
543904.IN -- Mankind Pharma to seek to divest Broadway Hospitality Services Private
4506.JP -- Sumitomo Pharma upgraded to neutral from sell at Citi
4502.JP -- Indonesia's Ministry of Health grants Takeda Pharmaceutical plasma fractionation license
532454.IN -- Bharti Airtel publishes Business Business Responsibility and Sustainability Report for FY2025-26
3317.HK -- Shenzhen Xunce Technology enters into MoU with Lutech, to jointly develop AI solutions and promote deployment of AI Token Factory in European market
BN4.SP -- Keppel upgraded to add from hold at CGS International
532868.IN -- DLF Ltd publishes Business Responsibility and Sustainability Report for FY2025-26
BIOA.B.SS -- BioArctic partner Eisai presents new data on Leqembi at 2026 AAIC
On Deck:
China:
Economic:
08:00 CST: Loan Growth Y/Y; consensus
08:00 CST: M2 NSA Y/Y; consensus +8.6%
08:00 CST: New Yuan Loans; consensus
Hong Kong:
Earnings:
CGN Power (1816.HK)
Japan:
Earnings:
Money Forward (3994.JP), Sakata Seed (1377.JP), Doutor Nichires Holdings (3087.JP), Create SD Holdings (3148.JP), COSMOS Pharmaceutical (3349.JP), Sansan (4443.JP), U-NEXT HOLDINGS Co. (9418.JP)
Australia:
Earnings:
FleetPartners Group (FPR.AU)
Market Data:
Gold (Aug 26): ($31.40) or (0.76%) to $4082.30
WTI Crude (Aug 26): +$2.44 or +3.42% to $73.85
$-¥: +0.30 or +0.18% to 161.9960
$-KRW: (1.05) or (0.07%) to 1498.5300
A$-$: (0.00) or (0.24%) to 0.6938
$-INR: (0.08) or (0.08%) to 95.3303
$-CNY: (0.00) or (0.02%) to 6.7760
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