Sep 29 ,2026
Synopsis:
Asian markets set for mixed start to Wednesday trade. Futures signaling opening gains in Japan and South Korea, mild initial decline in Hong Kong and flat start in Australia. S&P 500 futures up slightly afterhours. Australian yield curve steepening, in-line with Treasuries. FX markets steady after dollar index reached two-month high. Crude little changed after pulling back to one-month low. Gold and silver up from overnight close. Bitcoin unchanged.
Rate backup remains a focus after Treasury 30Y yield touched highest in 24 years. Hawkish trend in monetary policy expectations, inflation pressures stemming in large part from higher oil prices and broadening Middle East conflict, AI investment boom, resilient US economic growth, and fiscal concerns remain the more widely cited drivers of the yield backup. Some reprieve at the short end of the curve after NY Fed's Williams downplayed urgency for near-term hike.
China official PMI forecast to show manufacturing edged back into slight expansion this month. RatingDog PMI also forecast to have inched further into growth territory. Policymakers cognizant of downside pressures on economy and housing market after outlining interest rate subsidy for first homebuyers, increased relending quota to support tech innovation and measures to encourage lending to sectors like technology. Immediate takeaways viewed measures as modest and limited.
Pre-open Company News:
7532.JP -- Pan Pacific International Holdings downgraded to market perform from outperform at Bernstein (timing uncertain)
688126.CH -- National Silicon Industry Group chairman Haitao Jiang resigns due to work changes, effective immediately
1093.HK -- CSPC Pharmaceutical Group initiates phase Ib clinical trial of JMT206 injection in China for weight management
6787.JP -- Meiko Electronics upgraded to overweight from equal-weight at Morgan Stanley
BYSI -- BeyondSpring announces FDA Fast Track Designation for Plinabulin in post-ICI non-squamous NSCLC and strategic transaction to advance global Phase 3 DUBLIN-4 trial toward planned interim analysis
GUD.CN -- Knight Therapeutics signs exclusive distribution agreement with Kyowa Kirin International for mogamulizumab across certain Latin American countries
500124.IN -- Dr. Reddy's Laboratories upgraded to buy from sell at Citi (pre-Asian open)
512179.IN -- Transcript Intelligence: Sunteck Realty at Arihant Capital Bharat Connect Conference
China to subsidize new first-home mortgage rates by 1% for up to 5 years from 1-Oct
600754.CH -- Shanghai Jin Jiang International Hotels acquires remaining 10% stake in two subsidiaries for CNY811.0M
AMAT -- Applied Materials and KIOXIA partner at the EPIC Center to advance Next-Generation memory technology
300699.CH -- Weihai Guangwei Composites downgraded to overweight from buy at Everbright Securities (timing uncertain)
600673.CH -- Guangdong HEC Technology Holding controlling shareholder proposes launch of CNY600M-1.2B buyback programme
8584.JP -- JACCS Co. releases 2026 Intrgrated Report
IRPC.TB -- IRPC Public appoints Sirimet Leepagorn as new president & CEO, effective 1-Oct
On Deck:
China:
Economic:
09:30 CST: CFLP PMI Manufacturing; consensus 50.05
09:30 CST: CFLP Non Manufacturing PMI; consensus 49.2
09:30 CST: CFLP Composite PMI SA; consensus
09:30 CST: CFLP Services PMI; consensus
Hong Kong:
Earnings:
Hao Tian International Construction Investment Group (1341.HK), New World Development (17.HK), Excelland Robotics (3231.HK)
Japan:
Economic:
08:50 JST: Industrial Production SA M/M (Preliminary); consensus +1%
08:50 JST: Retail Sales NSA Y/Y (Preliminary); consensus +5.6%
14:00 JST: Housing Starts NSA Y/Y; consensus +7%
Earnings:
and ST (2685.JP)
Australia:
Economic:
11:30 AEST: Private Sector Credit M/M; consensus
11:30 AEST: Building Approvals SA M/M; consensus +0.5%
Earnings:
Barton Gold Holdings (BGD.AU), Cyprium Metals (CYM.AU), PDI Gold (PDI.AU)
Market Data:
Gold (Dec 26): +$33.80 or +0.81% to $4213.50
WTI Crude (Nov 26): ($0.17) or (0.19%) to $89.21
$-¥: +0.04 or +0.02% to 157.4120
$-KRW: (7.76) or (0.57%) to 1351.3480
A$-$: (0.00) or (0.46%) to 0.6987
$-INR: +0.07 or +0.07% to 96.0507
$-CNY: (0.01) or (0.12%) to 6.7024
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