Sep 03 ,2026
Synopsis:
Asian markets set for positive start to Friday trade. Futures signaling opening gains in Japan, South Korea, Hong Kong and Australia. S&P 500 futures unchanged. Treasuries strengthened overnight with curve steepening. FX markets steady after yen extended rebound against dollar to one-month high. Crude adding to earlier gains despite dovish-leaning Iran updates. Gold and silver pulling back from earlier highs. Bitcoin consolidating after rallying to four-month high.
Rate stabilization extended into the offshore session after Fed Governor Waller backed keeping rates on hold in September depending on August CPI data showing continued disinflation. Markets pulled back September rate hike odds back to ~50% from more than 60% before his speech. Follows recent rate repricing in the wake of Fed Chair Warsh's Jackson Hole speech that drew hawkish takeaways. US nonfarm payrolls later Friday looms as the next catalyst for rates with Street looking for unchanged unemployment rate and modest job gains.
Crude remained above $90 following reports President Trump weighing declaring Iran over. Earlier crude weakness attributed to Trump indicating current round of strikes likely to be short-lived. US officials also claimed 18M barrels oil now exiting SoH under military guidance, nearing pre-war levels (though there remains some dispute over actual number). Demand side of the equation getting more attention with China and India stepping up Middle East purchases, putting floor under prices. Pressure in refined fuels another talking point.
Pre-open Company News:
2631.HK -- SICC Co. initiated buy at CMB International (timing uncertain)
2695.JP -- Kura Sushi reports preliminary August same-store sales +3.7% y/y
600079.CH -- Humanwell Healthcare (Group) launches phase II clinical trial of RFUS-949 tablets
China August stock market trading turnover CNY47.071T vs month-ago CNY61.775T
535.HK -- Gemdale Properties & Investment reports August aggregate contracted sales CNY425M; StreetAccount notes the year-ago figure was CNY608M
315.HK -- SmarTone Telecommunications Holdings reports FY net income attributable HK$524.7M, +10% vs year-ago HK$478.9M
600276.CH -- NMPA accepts submission of Hengrui Pharmaceuticals's marketing application for SHR-1819 for atopic dermatitis
656.HK -- Fosun International initiated overweight at Citic Securities
867.HK -- China Medical System's unit Dermavon obtains NMPA NDA approval for additional indication of ruxolitinib phosphate cream Lumirix
CANG -- Cango's EcoHash completes key operational and commercial milestones for its AI compute business
1177.HK -- Sino Biopharmaceutical receives FDA approval for Phase I trial of GPC3 ADC TQB6426
8591.JP -- ORIX USA acquired three multifamily properties totaling 1,029 units in Texas and Georgia, representing ~$200M in aggregate value
532942.IN -- KNR Constructions releases annual report 2025-26 including business responsibility and sustainability report beginning on page 82
544014.IN -- Honasa Consumer releases FY2025-26 business responsibility and sustainability report
On Deck:
Japan:
Economic:
08:30 JST: Real Household Income Y/Y; consensus
08:30 JST: Real Household Consumption Expenditure Y/Y; consensus
Earnings:
Kanamoto (9678.JP)
Philippines:
Economic:
09:00 SST: CPI Y/Y; consensus +6.2%
Market Data:
Gold (Dec 26): ($19.30) or (0.43%) to $4520.60
WTI Crude (Oct 26): +$0.54 or +0.59% to $91.84
$-¥: (2.88) or (1.81%) to 155.8370
$-KRW: (3.22) or (0.24%) to 1355.6000
A$-$: +0.00 or +0.45% to 0.7200
$-INR: +0.03 or +0.03% to 94.4919
$-CNY: (0.00) or (0.02%) to 6.7181
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