The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0250 GMT - Palm oil falls in early Asian trade, weighed by lower soybean oil prices overnight on the Chicago Board of Trade as well as weaker crude oil prices, AmInvestment Bank says in a note. Lower palm olein on the Dalian Commodity Exchange is also seen pressuring palm oil prices, it says. Technical analysis suggests CPO futures are undergoing a minor pullback, it adds. AmInvestment Bank expects prices to face resistance at 4,628 ringgit a ton and support at 4,561 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery is lower by 24 ringgit at 4,570 ringgit a ton. (yingxian.wong@wsj.com)
0239 GMT - SCG Packaging is poised to deliver strong 2Q earnings, UOB Kay Hian analyst Benjaphol Suthwanish says in a note. The Thai packaging solutions provider's sales volume likely rose thanks to stronger demand in Indonesia and Vietnam. Sales in Thailand are also expected to remain broadly stable. UOB KH expects SCG Packaging's 2Q net profit to be at 2.06 billion baht, up 31% on quarter and 104% higher on year. The brokerage raises its target price to THB39.00 from THB31.00, while maintaining a buy rating. Shares closed at THB28.25.(amanda.lee@wsj.com)
0235 GMT - Malaysia's auto sector is expected to be supported by a speedier pace of electric vehicles adoption in 2H, led by Proton's eMas models, says Daniel Wong at Hong Leong IB in a note. National carmakers, especially Proton and Perodua, are expected to benefit from Budget 2026 incentives and tighter rules on imported EVs, the analyst says. The ringgit is expected to strengthen versus the U.S. dollar toward the end of 2026, lowering import and component costs and supporting margins for local automakers, he adds. Hong Leong maintains an overweight rating on Malaysia's automotive sector given its resilient earnings and attractive dividend yields, and pegs MBM Resources and Sime Darby as top picks. (yingxian.wong@wsj.com)
0228 GMT - CP Axtra faces an earnings hit from weaker performance at its wholesale and retail businesses, UOB Kay Hian's Tanapon Cholkadidamrongkul says in a research report. The consumer goods company's key operating metrics were softer than expected in 2Q owing to decline in same-store-sales, lower gross margins, and an increase in the ratio of selling, general and administrative expenses to sales, the analyst says. CP Axtra's Thai business continued to weaken in 2Q, while its operations in Malaysia remained the key earnings support. The brokerage cuts its 2026 and 2027 earnings forecasts for CP Axtra by 3.4% and 0.4%, respectively. It trims the stock's target price to 14.50 baht from 14.80 baht, with an unchanged hold rating. Shares last closed at 14.90 baht. (ronnie.harui@wsj.com)
0206 GMT - SK Hynix ADR's premium could touch as high as 17% in the near term against local shares as investors consider various strategies, including just buying ADRs or putting on a long-short trade, Douglas Kim of Douglas Research Advisory, who publishes on Smartkarma, says in a note. SK Hynix ADRs are due to trade Friday on the Nasdaq, making the $26.5 billion offer the largest foreign listing in history, topping China's Alibaba. Kim says the expected ADR premium is likely to be driven by factors including mandates to major institutional investors to own only U.S. listed stocks and the potential narrow valution discount versus Micron and Nvidia. The Seoul-listed stock is up 1.0% at KRW2,208,000. (venkat.pr@wsj.com)
0204 GMT - Crude palm oil prices are expected to remain elevated in 2H, supported by stronger-than-expected El Nino risks and lingering supply concerns, Kenanga IB analyst Khoo Teng Chuan says in a note. The U.S. National Oceanic and Atmospheric Administration has raised the probability of a severe El Nino to 81% for October-December from 63% in June, increasing the risk of lower palm oil output next year, he says. Kenanga maintains an overweight rating on the Malaysian plantation sector, and pegs IOI Corp., Kuala Lumpur Kepong, United Malacca and TSH Resources as top picks.(yingxian.wong@wsj.com)
0145 GMT - Malaysia's data-center enquiries remain robust, supporting Tenaga Nasional's plan to add 1 GW of new capacity annually, RHB IB analyst Max Koh says in a note. Under its generation plan, Tenaga aims to add 11.8 GW of new capacity by 2033, helping offset 6.6 GW of capacity scheduled for retirement while meeting rising electricity demand. He also sees about 5% upside to the 16.50 ringgit target price if Tenaga wins the government's new power generation tender. Koh expects Tenaga's effective tax rate to ease in coming quarters as tax incentives are applied, providing additional earnings support. RHB maintains a buy rating on Tenaga. Shares are unchanged at 14.30 ringgit. (yingxian.wong@wsj.com)
0120 GMT - Malaysia's equities market gains are expected to remain capped as investors rotate between sectors, with corporate earnings and company fundamentals likely to drive performance, says RHB IB analyst Alexander Chia in a note. He remains constructive on Malaysian equities, supported by strong liquidity, resilient domestic demand, solid export growth and easing external risks. While geopolitical tensions remain a key risk, Chia's base case assumes that the U.S.-Iran ceasefire holds and oil prices remain below recent peaks. He recommends buying on market weakness while maintaining exposure to defensive sectors, such as energy, plantations and consumer. RHB maintains its end-2026 KLCI target at 1750. The KLCI is 0.4% higher at 1684.76. (yingxian.wong@wsj.com)
0020 GMT - Japanese stocks are higher in early trade, tracking Wall Street's gains overnight. "Risk appetite has gained with lower oil prices helping to drive a rise in equities," InTouch Capital Markets' analysts' team says in commentary. "One read on the price action is that markets are growing accustomed to a sustained low-level conflict between the" U.S. and Iran, the team adds. Among best performers on the benchmark index, Fujikura rises 5.2%, Yaskawa Electric adds 4.9%, and Mitsui Kinzoku advances 4.7%. The dollar is at 162.39 yen, compared with Y162.38 late Thursday in New York. The Nikkei Stock Average is up 1.5% at 68770.27.(ronnie.harui@wsj.com)
2345 GMT - Investors will be focused on cost commentary and the performance of the iron-ore business when Rio Tinto reports its 2Q operational result next week, Macquarie says. Rio's Australian iron-ore operations are recovering from the impact of tropical cyclones earlier in the year. There will also be a focus on how the Oyu Tolgoi copper-mine ramp up is going, Macquarie says. The bank expects 2Q Pilbara iron-ore shipments of roughly 84.1 million metric tons and copper output around 218,100 tons, both in line with consensus estimates. "We expect a pretty in-line result at the quarterly, which is a positive after a weather impact in 1QCY26," it says. Macquarie has a neutral rating and A$180/share target on Rio. Shares ended Thursday at A$158.52.(rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2341 GMT - Japanese stocks may rise, tracking Wall Street's gains overnight. Concerns over a return to a full-blown conflict between the U.S. and Iran appear to have subsided, spurring investors' appetite for risky assets. Nikkei futures open 1100 points higher at 69000 on the SGX. The dollar is at 162.36 yen, compared with 162.38 yen late Thursday in New York. The Nikkei Stock Average closed 1.4% higher at 67743.85 on Thursday. (ronnie.harui@wsj.com)
2304 GMT - Australian stocks look set to edge higher in early trade after the S&P 500 closed near a record high. Local stock futures are up by 0.1% before the bell, suggesting that the S&P/ASX 200 could snap this week's four-day losing streak. Ahead of the open, Elevra Lithium reported a 15% rise in spodumene concentrate output quarter-over-quarter but noted that realized prices lagged spot-market prices, as previously flagged. Sandfire Resources said a study for the Black Butte Copper Project in Montana has been updated and that it continues to assess the project's strategic fit within its portfolio. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
July 09, 2026 22:50 ET (02:50 GMT)
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