Jul 22 ,2026
Synopsis:
Asia equities poised to open mostly higher Thursday. Futures in Japan were mixed, while South Korea, Hong Kong and Australia traded higher. Japan ADRs were mixed, Golden Dragon China index fell 1.80%. US futures notably weaker after moderate declines overnight. Tech leads were mixed. Nasdaq lag contrasted with 0.44% increase in SOX index. Mag 7 broadly softer though broader big tech more mixed. Focus on post-close earnings with Alphabet (GOOGL) and Tesla (TSLA) selling off after hours, IBM (IBM) also lower. US Treasuries were weaker with some curve flattening; yields were up 2-4 bp. Dollar index was down 0.1%. Gold finished up 1.9%. Bitcoin futures were off 0.9%. WTI crude settled up 3.0%.
Tech earnings squarely in the spotlight. Alphabet Q2 revenues beat and initial reactions choppy though decisive downshift followed earnings call disclosure of upgraded capex guidance of $195-205B the earnings call. Tesla missed on headline EPS, beat on revenue including auto segment. Gross margins lower than expected. IBM EPS was in line with its negative pre-announcement, though downgraded FY revenue guidance. Elsewhere, Middle East developments remain on the radar keeping oil prices supported though largely a non-factor in equities.
In Asia, White House official accused Moonshot of using banned Blackwell-based GB300-equipped servers to develop Kimi K3. Follows reports US and China will hold formal AI talks in September. While agenda so far unclear, Treasury Secretary Bessent separately flagged possible sanctions against Chinese AI models distilled from American variants. US Secretary of State Rubio met China Foreign Minister Wang on the sidelines of the Manila ASEAN summit to discuss areas of cooperation to lay the groundwork for a "very positive visit" to Washington in September by President Xi. On central banks, a couple of international media reports overnight indicated BOJ officials open to raising rates at a faster interval than the widely accepted semi-annual pace, citing weak yen and cost passthrough, though has not yet gained traction in Japan markets.
Pre-open Company News:
511218.IN -- StreetAccount Consensus Metrics Preview - Shriram Finance Q1 Earnings
TVD.VN -- Vinacomin-Vang Danh Coal reports Q2 net income VND15.10B, (18%) vs year-ago VND18.42B
600795.CH -- GD Power Development reports Q2 power generation 112,927 GWh, +6.7% y/y
543A.JP -- ARCHION's 787.9M-share secondary offering (for holders) priced at ¥260/share
533096.IN -- Adani Power reports Q1 consolidated EPS INR2.49 vs year-ago INR1.72
975.HK -- Mongolian Mining reports Q2 ROM coal mining output 4,424.4kt, (9%) q/q
9678.HK -- Unisound AI Technology guides H1 total operating revenue CNY530-580M, +31-43% y/y
1250.HK -- Shandong Hi-Speed New Energy Group chairman Li Tianzhang resigns due to work adjustments, effective today
6938.HK -- Suzhou Ribo Life Science presents positive results from Phase 2a study of RBD4059 for CAD
541450.IN -- Adani Green Energy reports Q1 consolidated EPS INR5.05 vs year-ago INR4.26
533088.IN -- Mahindra Holidays & Resorts India reports Q1 standalone EPS INR2.69 vs year-ago INR3.78
009420.KS -- Follow-up: HANALL BIOPHARMA required to bear Harbor Biomed's arbitration costs of KRW9.80B ($6.6M) following final ICC ruling
601117.CH -- China National Chemical Engineering reports Jan-Jun new contracts CNY209.49B
On Deck:
China:
Economic:
08:00 CST: Foreign Direct Investment Y/Y; consensus
Japan:
Earnings:
DISCO Corp. (6146.JP), Shin-Etsu Polymer (7970.JP)
South Korea:
Economic:
08:00 KST: GDP NSA Y/Y (Preliminary); consensus +3.2%
Earnings:
Samsung Biologics (207940.KS), Hyundai Motor (005380.KS), OCI Holdings (010060.KS), Samsung E&A Co. (028050.KS), Hyundai GLOVIS Co. (086280.KS), LS Electric (010120.KS), Hyundai Mobis (012330.KS), IPARK HYUNDAI DEVELOPMENT (294870.KS)
Australia:
Economic:
11:30 AEST: Unemployment Rate; consensus
11:30 AEST: Employment SA; consensus
New Zealand:
Earnings:
Genesis Energy (GNE.NZ)
India:
Earnings:
Cipla Ltd (500087.IN), Chennai Petroleum (500110.IN), Cyient (532175.IN), Coromandel International (506395.IN), Mphasis (526299.IN), Mahindra Lifespace Developers (532313.IN), PVR INOX (532689.IN), Motilal Oswal Financial Services (532892.IN), Indian Energy Exchange (540750.IN)
Singapore:
Earnings:
Keppel DC REIT (AJBU.SP), Alpha Integrated REIT (M1GU.SP), Mapletree Industrial Trust (ME8U.SP), Suntec Real Estate Investment Trust (T82U.SP)
Market Data:
Gold (Aug 26): ($29.20) or (0.70%) to $4122.70
WTI Crude (Sep 26): +$1.09 or +1.26% to $87.92
$-¥: (0.08) or (0.05%) to 163.0970
$-KRW: (6.08) or (0.41%) to 1475.6400
A$-$: (0.00) or (0.16%) to 0.6988
$-INR: +0.28 or +0.29% to 96.5571
$-CNY: +0.01 or +0.09% to 6.7720
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