The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0606 GMT - The Japanese government can only curb speculative yen weakness with currency intervention, says Mitsubishi UFJ Morgan Stanley Securities strategist Daisaku Ueno. "As the gap between positive and negative real policy rates in the U.S. and Japan persists, it would be difficult for the magic of currency intervention to permanently contain the yen-selling pressure, which is structurally driven by investment decisions and real demand arising from the economic activities of Japanese companies and individuals," he says. Japan's Finance Minister Satsuki Katayama says she is ready to take appropriate action in the foreign exchange market as needed. The dollar is last trading at 161.68 yen, well beyond the intervention danger zone. (megumi.fujikawa@wsj.com)
0456 GMT - Conventional DRAM prices could continue to rise in 2027 after having risen 4.5 times in 2Q from 3Q 2025, Bernstein analysts say in a note. As a result, conventional DRAM now enjoys similar if not higher average selling price per bit than HBM. Given its higher bit density and yield, Bernstein estimates revenue from conventional DRAM per wafer capacity could be twice as that of HBM this year and command notably higher margins. The brokerage estimates a three-fold increase in HBM price is needed for HBM revenue per wafer capacity to catch up with conventional DRAM. However, memory suppliers could hike HBM prices less aggressively as they understand that high HBM costs can be unhealthy for the overall AI ecosystem development and ultimately to memory demand as well. (sherry.qin@wsj.com)
0417 GMT - External demand is likely to remain an important growth pillar for Malaysia in 2Q, supporting still-resilient domestic demand amid a stable labor market, TA Securities analyst Farid Burhanuddin says in a note. However, trade growth is expected to normalize in 2H following exceptionally strong performance in 1H, he says. Domestic demand could remain the key driver of growth, but it's premature to revise the GDP outlook given incomplete data for services and consumption, he reckons. Malaysia's external sector is expected to remain resilient and continue providing support to overall GDP growth, external balances and broader macroeconomic stability in 2H, he adds. (yingxian.wong@wsj.com)
0350 GMT - Singapore's consumer-price index likely rose 1.9% from a year earlier in May, edging up from 1.8% in April, according to the median estimate of eight economists polled by The Wall Street Journal. High energy prices stemming from the conflict in the Middle East will flow into domestic petrol and electricity prices, economists at Moody's Analytics say. It will take time for shipping through the strait to return to normal, and a risk premium will likely keep oil prices high in the coming months, they add. Meanwhile, Barclays expects inflation to be largely stable, with second-round effects from the supply-side shock likely to remain limited as oil prices were easing in May. The data is due Tuesday. (kimberley.kao@wsj.com)
0340 GMT - Malaysia is expected to see near-term strength in export growth from stockpiling and demand for electrical and electronics, though it's likely to moderate in 2H as base effects fade, Kenanga economists say in a note. Trade flows are also seen to normalize, they add. While talks between U.S. and Iran ease geopolitical risks, the downside risks remain from supply disruptions, U.S. policy uncertainty, and softer global tech demand, they note. Strong May exports are expected to lift 2Q GDP to above 5%, though sustainability into 2H remains a concern as capital goods imports contract for two straight months, signaling cautious investment sentiment, they reckon. (yingxian.wong@wsj.com)
0301 GMT - While the preliminary U.S.-Iran peace MOU may help ease tensions in the Middle East, Malaysia's cost pressures are likely to remain elevated in near term, with the full impact of the conflict yet to be fully realized, UOB economists Julia Goh and Loke Siew Ting say in a note. The onset of El Nino from June to mid-2027 is expected to lift crop prices, posing upside risks to inflation despite continued fuel subsidies, they reckon. However, easing core inflation indicates softer domestic demand, while headline inflation remains manageable, they add. Bank Negara Malaysia is expected to maintain a watchful hold, keeping the policy rate steady at 2.75% through the year, staying attentive to evolving external risks and adjusting policy settings as necessary, UOB adds. (yingxian.wong@wsj.com)
0023 GMT - Westpac's bears at Morgan Stanley think that the Australian bank is being too optimistic over the prospects of growth in the country's home-loan market. Westpac believes that industry growth will slow to about 4.5% against a backdrop of higher interest rates and tax changes, but MS analyst anticipate only 4% growth in the first half of the bank's 2027 fiscal year. They see an even more modest 3% in the second half. The analysts tell clients in a note that Westpac's credit quality remains sound and that costs are being controlled well, but they maintain an underweight rating. MS has a target price of 31.50 Australian dollars on the stock, which is down 0.9% at A$34.71. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
June 22, 2026 04:20 ET (08:20 GMT)
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