Oct 28 ,2026
Synopsis:
Asia equities poised for a cautious open Thursday. Regional futures were mostly higher -- Japan flat to lower, Hong Kong, South Korea and Australia higher -- though US contracts notably softer after hours. Japan ADRs skewed to losses. Golden Dragon China index fell 1.83%. Follows broad gains in US benchmarks. Most sectors advanced including tech. SOX index up 1.75% with US big tech mostly higher though Mag 7 lagged (dragged down further by GOOGL selloff after hours). Cash US Treasuries were mostly weaker with the curve steepening; yields up 5-6 bp at the long end. Dollar index down 0.2%. Gold finished down 0.6%. Bitcoin futures were up 0.8%. WTI crude settled up 2.9%, near session highs and back above $100/barrel.
Overnight markets saw further positive momentum in AI. Yesterday's SK Hynix (000660.KS) surge translated to ADRs in the wake of strong earnings. Bullish Oracle (ORCL) cash flow guidance at its annual conference was the highlight during the US session. However, after-hours earnings activity saw Alphabet (GOOGL) down 10% after sales and profits disappointed. FCF negative for a second straight quarter with capex set to double over last year. ServiceNow (NOW) tumbled 18% as in-line Q4 revenue guidance was met with a high-bar. Stock weakness well exceeded strength in Microsoft (MSFT) after earnings beat. Elsewhere, Ford (F) lower despite raising the lower end of FY profit guidance. FedEx (FDX) also lower despite stronger guidance.
Fed's on-hold decision was in line with inflation commentary remaining hawkish and two dissenters (Cook, Hammack) calling for a hike. December rate hike expectations remain intact though futures dialing back a third move next year. Attention drawn to Warsh's indications of a gradual reduction in the number of rate-setting votes over the next two years, reserving one of the eight meetings next year for broad monetary policy strategy discussions with no vote (two in 2028). However, did not specify which meetings will be off the table, posing some complications for rate pricing. Focus now shifts to ECB and BOJ tomorrow, both also expected to leave rates steady for now while markets eye a December move.
Middle East/oil relatively on the backburner, overshadowed by tech, earnings and central banks. Headlines remain mixed with no meaningful progress toward a cessation in Houthi attacks or US-Iran conflict. Trump denied a press report saying VP Vance reached out to Iran to restart peace talks, instead clarifying the communication was only about medical supplies. Elections now looming large as a key checkpoint. Israel's Netanyahu looks set to remain prime minister in a caretaker role with his bloc ahead on votes but not enough for a majority. US officials reportedly told regional allies to be prepared for potential renewed military action against Iran after the midterms.
Pre-open Company News:
009420.KS -- HANALL BIOPHARMA reports Q3 operating profit KRW1.27B vs year-ago KRW349M
511243.IN -- Cholamandalam Investment & Finance reports Q2 standalone NPAT INR16.30B vs StreetAccount INR16.50B
532777.IN -- Info Edge India MD & CEO Hitesh Oberoi to step down to pursue personal interests, effective 2-Dec
601799.CH -- Changzhou Xingyu Automotive Lighting Systems reports Q3 net income attributable CNY262.4M, (39.6%) y/y
LCC.SP -- Lum Chang Creations releases 2026 sustainability report
688032.CH -- Hoymiles Power Electronics completes 1.93M shares of repurchase for around CNY164M
000967.CH -- Infore Environment Technology Group reports Q3 net income attributable CNY134.0M, +50.8% y/y
001389.CH -- Delton Technology (Guangzhou) launches CNY100.0-200.0M buyback programme at up-to-CNY237/share
501.HK -- OmniVision Integrated Circuits Group reports Q3 net income attributable CNY1.08B vs FactSet CNY1.04B [4 est, CNY917-1.19B]
1877.HK -- NMPA accepts submission of Junshi Biosciences's marketing application for JS001sc to be combined with disitamab vedotin for urothelial carcinoma with HER2 expression
600118.CH -- China Spacesat reports Q3 net income attributable CNY50.4M, +11.2% y/y
300558.CH -- Betta Pharmaceuticals agrees to transfer technology, preparation of specific molecules, and rights related to SS202 to Hangzhou Gensciences
600372.CH -- China Avionics Systems reports Q3 net income attributable CNY331.4M, (6%) vs year-ago CNY351.6M
002074.CH -- Gotion High-tech reports Q3 net income attributable (CNY537.0M), (124.8%) y/y
M44U.SP -- Mapletree Logistics Trust reports Q2 amount distributable to unitholders SG$93.3M vs year-ago SG$92.5M
On Deck:
China:
Earnings:
Midea Group (000333.CH), GF Securities (000776.CH), S.F. Holding (002352.CH), Hangzhou Tigermed Consulting (300347.CH), Anker Innovations Technology (300866.CH), Haier Smart Home (600690.CH), Qinhuangdao Port (601326.CH), Everbright Securities (601788.CH), Foshan Haitian Flavouring & Food (603288.CH), GigaDevice Semiconductor (603986.CH), Eastroc Beverage (Group) (605499.CH), Montage Technology (688008.CH), Fortior Technology (688279.CH), Lingyi iTech (Guangdong) (002600.CH), Zhuhai Huafa Properties (600325.CH), Pangang Group Vanadium & Titanium Resources (000629.CH), Shenzhen Hepalink Pharmaceutical Group (002399.CH), Luxshare Precision Industry (002475.CH), BYD Co. (002594.CH), Himile Mechanical Science & Technology (Shandong) (002595.CH), Muyuan Foods Group (002714.CH), Estun Automation (002747.CH), Xiamen Jihong (002803.CH), Zhongji Innolight (300308.CH), Wuxi Lead Intelligent Equipment (300450.CH), Victory Giant Technology (HuiZhou) (300476.CH), Fibocom Wireless (300638.CH), SG Micro (300661.CH), CNGR Advanced Material (300919.CH), Shenzhen Longsys Electronics (301308.CH), China Merchants Securities (600999.CH), Shanghai Longcheer Technology (603341.CH), Transwarp Technology (688031.CH), Sichuan Biokin Pharmaceutical (688506.CH)
Hong Kong:
Earnings:
Budweiser Brewing Co. APAC (1876.HK), Huadian Power International (1071.HK), COSCO SHIPPING Ports (1199.HK), China Communications Construction (1800.HK), Shanghai Junshi Biosciences (1877.HK), China Vanke (2202.HK), Biocytogen Pharmaceuticals (2315.HK), Aluminum Corp. of China (2600.HK), Shanghai Pharmaceuticals Holding (2607.HK), BYD Electronic (International) (285.HK), Liaoning Port (2880.HK), Sinopec Shanghai Petrochemical (338.HK), Angang Steel (347.HK), Chongqing Rural Commercial Bank (3618.HK), Sinopec (China Petroleum & Chemical) (386.HK), China Railway Group (390.HK), China Energy Engineering (3996.HK), Guangshen Railway (525.HK), ZCZL Industrial Technology (564.HK), Sany Heavy Industry (6031.HK), Air China (753.HK), China Unicom (Hong Kong) (762.HK), Datang International Power Generation (991.HK), Weichai Power (2338.HK), Dongfang Electric (1072.HK), Zoomlion Heavy Industry Science & Technology (1157.HK), Cofoe Medical Technology (1187.HK), China Datang Corp. Renewable Power (1798.HK), Xinte Energy (1799.HK), COSCO SHIPPING Holdings (1919.HK), BAIC Motor (1958.HK), China International Marine Containers (Group) (2039.HK), CSSC Offshore & Marine Engineering (Group) (317.HK), Maanshan Iron & Steel (323.HK), Zhejiang Expressway (576.HK), Qingdao Port International (6198.HK), Sany Heavy Equipment International Holdings (631.HK), China Galaxy Securities (6881.HK), China Longyuan Power Group (916.HK), China CITIC Bank (998.HK), RemeGen (9995.HK)
Japan:
Economic:
09:30 JST: Import NSA Y/Y (Final); consensus
09:30 JST: Trade Balance NSA (Final); consensus
09:30 JST: Export NSA Y/Y (Final); consensus
Earnings:
Ono Pharmaceutical (4528.JP), Kubota (6326.JP), Renesas Electronics (6723.JP), Nojima (7419.JP), Japan Tobacco (2914.JP), Nomura Real Estate Holdings (3231.JP), ZEON Corp (4205.JP), Nomura Research Institute (4307.JP), Takeda Pharmaceutical (4502.JP), Shionogi & Co. (4507.JP), Daido Steel (5471.JP), Komatsu (6301.JP), Hitachi Construction Machinery (6305.JP), Amano Corp. (6436.JP), Fuji Electric Co. (6504.JP), Fujitsu (6702.JP), Mitsubishi Pencil (7976.JP), Toyota Tsusho (8015.JP), Tokyo Electric Power Co. Holdings (9501.JP), Meitec (9744.JP), Toenec (1946.JP), Kyudenko (1959.JP), SMS Co. (2175.JP), Systena (2317.JP), Kagome (2811.JP), ZOZO Inc (3092.JP), Toyota Boshoku (3116.JP), Tokuyama (4043.JP), IBIDEN (4062.JP), Sekisui Jushi (4212.JP), DKS Co. (4461.JP), Eiken Chemical (4549.JP), JCR Pharmaceuticals (4552.JP), Oriental Land (4661.JP), Aichi Steel (5482.JP), Chugin Financial Group (5832.JP), Max Co. (6454.JP), NSK Ltd (6471.JP), JTEKT Corp. (6473.JP), Sanyo Denki (6516.JP), Anritsu (6754.JP), Maxell (6810.JP), KEYENCE (6861.JP), DENSO Corp. (6902.JP), Financial Partners Group (7148.JP), Aisin Corp. (7259.JP), EXEDY Corp (7278.JP), Toyoda Gosei (7282.JP), Takara standard (7981.JP), KOKUYO (7984.JP), Nippon Gas Co Ltd (8174.JP), Okasan Securities Group (8609.JP), ANA HOLDINGS (9202.JP), Chubu Electric Power (9502.JP), The Kansai Electric Power (9503.JP), Hokuriku Electric Power (9505.JP), Tokyo Gas (9531.JP), Osaka Gas (9532.JP), TOHO GAS (9533.JP), METAWATER (9551.JP), NSD Co. (9759.JP), KONAMI (9766.JP)
South Korea:
Earnings:
Taihan Electric Wire (001440.KS), LOTTE Fine Chemical (004000.KS), GS Engineering & Construction (006360.KS), HANWHA SOLUTIONS (009830.KS), OCI Holdings (010060.KS), Samsung Heavy Industries Co. (010140.KS), HANWHA AEROSPACE (012450.KS), SAMSUNG SDS CO. (018260.KS), Doosan Enerbility (034020.KS), KUMHO TIRE (073240.KS), Hyundai GLOVIS Co. (086280.KS), Amorepacific (090430.KS), KB Financial (105560.KS), Doosan Bobcat (241560.KS), Doosan Robotics (454910.KS), Hanwha Vision (489790.KS), AmorePacific Group (002790.KS), Hyundai Mobis (012330.KS), KIWOOM Securities (039490.KS), LG CNS (064400.KS), APR Co. (278470.KS)
Australia:
Earnings:
Coles Group (COL.AU)
India:
Earnings:
Grindwell Norton (506076.IN), Apar Industries (532259.IN), Godrej Consumer Products (532424.IN), Firstsource Solutions (532809.IN), Coal India (533278.IN), Archean Chemical Industries (543657.IN), Blue Star (500067.IN), Deepak Nitrite (506401.IN), Timken India (522113.IN), PRAJ Industries (522205.IN), Welspun (532144.IN), Motilal Oswal Financial Services (532892.IN), Brigade Enterprises (532929.IN), V-Guard Industries (532953.IN), Indian Energy Exchange (540750.IN), Computer Age Management Services (543232.IN), MTAR Technologies (543270.IN), Alivus Life Sciences (543322.IN)
Singapore:
Earnings:
CapitaLand Integrated Commercial Trust (C38U.SP), UltraGreen.ai Limited (ULG.SP), Keppel (BN4.SP), CDL Hospitality Trusts (J85.SP), Far East Hospitality Trust (Q5T.SP), CapitaLand Ascendas REIT (A17U.SP), Mapletree Pan Asia Commercial Trust (N2IU.SP), Starhill Global REIT (P40U.SP)
Taiwan:
Earnings:
AUO Corp (2409.TT), ASE Technology Holding (3711.TT)
Thailand:
Earnings:
i-Tail Corp. Public Co. (ITC.TB)
Philippines:
Earnings:
Aboitiz Power (AP.PM)
Market Data:
Gold (Dec 26): +$13.30 or +0.33% to $4064.90
WTI Crude (Dec 26): ($0.91) or (0.89%) to $101.87
$-¥: (0.23) or (0.15%) to 157.7210
$-KRW: +13.71 or +1.03% to 1340.7500
A$-$: +0.00 or +0.37% to 0.7052
$-INR: +0.20 or +0.21% to 95.2095
$-CNY: (0.00) or (0.04%) to 6.6653
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