Jul 13 ,2026
Synopsis:
Asian markets set for negative start to Tuesday trade. Futures signaling small opening declines in Japan, South Korea, Hong Kong and Australia. S&P 500 futures extending declines afterhours. Australian bonds under pressure after Treasury yields backed up further on Monday. Crude up sharply on Middle East fighting. Gold and silver nursing heavy losses. FX markets steady. Bitcoin flat following earlier selloff.
Oil at one-month high following 9% rally Monday amid heightened tensions between US and Iran. Two sides locked in standoff over Strait of Hormuz after President Trump reinstated US naval blockade and said US would charge 20% fees for cargo ships. While return to full-blown war still considered as less likely scenario, IRGC's firing at commercial vessels and refusal to relinquish claims of control of Hormuz leaving market with lack of visible off-ramps as tracking data shows shipping flows have fallen to two-month low.
Momentum trade under pressure with SOX down 5%. Selloff an extension of volatile session in South Korea Monday driven by steep losses in memory stocks. SK Hynix US ADRs fell 9% after Seoul-listed shares dropped record 15% to two-month low. Nothing specific blamed for selling, seasonality, positioning unwind, rebalancing flows and pressure from leveraged ETFs all mentioned. Also talk about SK Hynix Q2 earnings risk from DRAM ASPs and HBM mix (company reports next week).
China trade data forecast to show export growth slowed narrowly in June, though largely maintaining strong pace of prior months underpinned by booming external demand for tech products. Import growth also forecast to have slowed though remaining comfortably above 20%. Some thought that front-loading effects have inflated recent months with US firms stocking up holiday merchandise (China exports to US rose by almost 36% in June, highest since 2021). Non-semiconductor shipments have also been weak..
Pre-open Company News:
600655.CH -- Shanghai Yuyuan Tourist Mart Group guides H1 net income attributable CNY120.0-170.0M vs year-ago CNY62.8M
024110.KS -- Industrial Bank of Korea proposes quarterly DPS KRW210; StreetAccount notes the company did not pay quarterly dividend
000630.CH -- Tongling Nonferrous Metals Group guides H1 net income attributable CNY2.65-3.15B vs restated year-ago CNY1.44B
600733.CH -- BAIC BluePark New Energy Technology guides H1 net income attributable (CNY1.77-1.97B) vs year-ago (CNY2.31B)
002625.CH -- Kuang-Chi Technologies completes CNY50-100M on-market share buyback announced on 30-Jun
600010.CH -- Inner Mongolia Baotou Steel Union guides H1 net income attributable CNY230.0-300.0M vs year-ago CNY151.3M
Hong Kong stock connect daily turnover
532281.IN -- HCL Technologies reports Q1 consolidated EPS INR17.06 vs StreetAccount INR16.72
000963.CH -- Huadong Medicine obtains NMPA clinical trial approval for DR10624 injection for treatment of heart failure
2513.HK -- Knowledge Atlas Technology completes 19.8M shares placement at HK$1,588.00/share for HK$31.41B
600276.CH -- Jiangsu Hengrui Pharmaceuticals obtains NMPA approval for clinical trial of SHR-3079 injection
3008.TT -- LARGAN Precision upgraded to buy from neutral at BofA
500300.IN -- Aditya Birla Renewables to acquire 100% stake in Solenergi Power at enterprise value of INR172.00B (~$1.8B) cash
000686.CH -- Northeast Securities guides H1 net income attributable CNY764.3M, +77.5% y/y
500049.IN -- Bharat Electronics secures orders worth INR5.72B
On Deck:
China:
Economic:
08:00 CST: Trade Balance NSA; consensus +$120.1B
08:00 CST: Export Y/Y; consensus +17.5%
08:00 CST: Import Y/Y; consensus +24.4%
08:00 CST: Loan Growth Y/Y; consensus
08:00 CST: New Yuan Loans; consensus
08:00 CST: M2 NSA Y/Y; consensus
08:00 CST: Foreign Direct Investment Y/Y; consensus
Japan:
Economic:
13:30 JST: Industrial Production SA M/M (Final); consensus
Earnings:
Tama Home (1419.JP), Bic Camera (3048.JP), create restaurants holdings (3387.JP), Nachi-Fujikoshi (6474.JP), Saizeriya (7581.JP), IDOM Inc (7599.JP), Izumi Co. (8273.JP), Shochiku (9601.JP), Arclands (9842.JP)
Australia:
Economic:
11:30 AEST: NAB Business Confidence; consensus
India:
Earnings:
Jindal SAW (500378.IN)
Singapore:
Economic:
08:00 SST: GDP NSA Y/Y (Preliminary); consensus +5.1%
Thailand:
Earnings:
TISCO Financial Group Public (TISCO.TB)
Market Data:
Gold (Aug 26): ($1.50) or (0.04%) to $4004.20
WTI Crude (Aug 26): +$0.95 or +1.22% to $79.09
$-¥: +0.71 or +0.44% to 162.4050
$-KRW: (3.43) or (0.23%) to 1496.1500
A$-$: (0.00) or (0.57%) to 0.6915
$-INR: +0.89 or +0.93% to 96.2988
$-CNY: +0.00 or +0.03% to 6.7792
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