Nov 02 ,2026
Synopsis:
Asian markets set for mixed start to Tuesday trade. Futures signaling steep opening decline in South Korea and positive start in Hong Kong. Japan closed for public holiday. S&P 500 futures gaining afterhours. Australian bonds little changed ahead of RBA. Treasuries narrowly mixed with some curve flattening overnight. Dollar steady on major crosses. Crude unchanged following heavy selloff on dovish US-Iran headlines. Gold and silver trading below earlier highs. Bitcoin flat.
Signs of diplomatic traction in Middle East after President Trump said he will not resume strikes on Iran after midterm elections and VP Vance voiced hope for a negotiated settlement. Iran also signaled openness to negotiations with Supreme Leader Khamenei granting some authority for officials to talk with US. Positioning unwind/technicals suspected of magnifying oil's downswing, which reverberated across energy markets with gas futures also experiencing a heavy fall.
AI trade under renewed pressure in late session trading overnight (SOX closed down another 3%). Funding concerns in the spotlight amid reports about ORCL, META, and GOOGL tapping the market. Anthropic valuation facing fresh scrutiny with media sources noting investors pushing company to lower target to $1.5-1.6T from around $2T. AAPL down 3% in postmarket trade after flagging slowdown in services revenue growth, and margin pressures from memory costs.
On the economic front, RBA widely expected to raise cash rate by 25 bp to 4.85%. Rate hike expectations were crystalized by hot Australian CPI and warnings from RBA officials that inflation remains above their tolerance range. Statement expected to repeat readiness to tighten further if necessary. Governor Bullock's press conference will be a focus amid thoughts she may signal near-term pause to assess impact of previous rate hikes.
Pre-open Company News:
512070.IN -- UPL Ltd reports Q2 consolidated EBITDA INR23.12B vs StreetAccount INR21.26B
9449.JP -- FFRI Security holder GMO Internet Group acquires 372K shares, or 4.76% stake, in open market purchases
531642.IN -- Marico reports Q2 EPS INR4.24 vs FactSet INR4.13 [12 est, INR3.88-4.30]
1093.HK -- CSPC Pharmaceutical's prusogliptin triple therapy meets primary endpoint in phase III diabetes trial
532527.IN -- Ramkrishna Forgings initiated buy at Antique Stockbroking
MIST -- Milestone announces new data showing CARDAMYST converted recurrent PSVT to normal heart rhythm in patients with prior catheter ablation
500670.IN -- Gujarat Narmada Valley Fertilizers & Chemicals reports Q2 standalone EPS INR12.59 vs year-ago INR12.04
600256.CH -- Guanghui Energy declares Q3 interim dividend CNY0.21/sh; StreetAccount notes the company did not declare any interim dividend last year
532356.IN -- Triveni Engineering & Industries reports Q2 consolidated EPS (cont. ops) INR4.25 vs year-ago (INR0.52)
603160.CH -- Shenzhen Goodix Technology completes CNY399.6M buyback, repurchasing 6.3M shares
F34.SP -- Wilmar International downgraded to hold from buy at Maybank Investment Bank
532234.IN -- National Aluminium reports Q2 standalone EPS INR9.99 vs FactSet INR9.95 [2 est, INR9.50-10.40]
500495.IN -- Escorts Kubota reports Q2 standalone net profit from cont. ops INR2.55B vs FactSet INR3.24B [10 est, INR2.74-3.60B]
On Deck:
South Korea:
Earnings:
DL Holdings (000210.KS), Hanatour Service (039130.KS), Korea Aerospsace Industries (047810.KS), LG H&H (051900.KS), HYBE Co. (352820.KS), kakaopay (377300.KS), LX Semicon (108320.KS), Kakao Games (293490.KS), KakaoBank (323410.KS)
Australia:
Economic:
14:30 AEST: RBA Official Cash Rate; consensus +4.85%
Earnings:
Goodman Group (GMG.AU)
India:
Earnings:
KSB Ltd (500249.IN), KSB Ltd (500249.IN), Bajaj Holdings & Investment (500490.IN), GlaxoSmithKline Pharmaceuticals (500660.IN), Pfizer Ltd. (India) (500680.IN), Bayer CropScience (506285.IN), Graphite India (509488.IN), Asahi India Glass (515030.IN), Linde India (523457.IN), Bajaj Finserv (532978.IN), RattanIndia Enterprises (534597.IN), Knowledge Realty Trust (544481.IN), Multi Commodity Exchange of India (534091.IN), Bata India (500043.IN), Chambal Fertilisers & Chemicals (500085.IN), Lupin Ltd (500257.IN), SKF India (500472.IN), Alkyl Amines Chemicals (506767.IN), Lloyds Metals & Energy (512455.IN), Solar Industries India (532725.IN), Allcargo Logistics (532749.IN), Mahanagar Gas (539957.IN), BLS International Services (540073.IN), Endurance Technologies (540153.IN), Metropolis Healthcare (542650.IN), Prince Pipes & Fittings (542907.IN), Vijaya Diagnostic Centre (543350.IN), Global Health Ltd. (India) (543654.IN)
Singapore:
Earnings:
Parkway Life REIT (C2PU.SP), SIA Engineering (S59.SP)
Taiwan:
Earnings:
GlobalWafers (6488.TT)
Market Data:
Gold (Dec 26): ($14.20) or (0.36%) to $3955.40
WTI Crude (Dec 26): ($0.16) or (0.17%) to $96.30
$-¥: +0.36 or +0.23% to 157.9190
$-KRW: +10.80 or +0.81% to 1344.4500
A$-$: (0.00) or (0.51%) to 0.6996
$-INR: (0.21) or (0.23%) to 94.7249
$-CNY: (0.01) or (0.16%) to 6.6470
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