The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
1004 ET - Investors aren't simply disappearing from the housing market, Realtor.com says. Their presence is changing. In the first half of 2026, smaller investors strengthened their hold while large and mega investors pulled back. Cash remains a defining feature of investor purchases, yet the investor and overall market all-cash share fell in the first half of 2026 as climbing inventory and softer market conditions eased all-cash buying. Investors accounted for 10.7% of home purchases. However, the number of homes they bought fell to its lowest first-half level since 2020. Investor selling eased slightly as well, but its share of home sales remained above pandemic- and pre-pandemic-era levels. Together, the trends point to a cooler market, not a uniform retreat by every kind of investor. (chris.wack@wsj.com@wsj.com)
0744 ET - Canadian monthly credit aggregates highlight an ongoing slowdown in the economy's most interest-rate sensitive sector just as the Bank of Canada could be looking more closely at lifting interest rates, Bank of Montreal's Shelly Kaushik notes. Household mortgage debt in August grew 3.8% on-year, the slowest pace since the housing correction in 2023-24. Kaushik says the housing market isn't exactly in need of extinguishing, and a new tightening cycle by the central bank could add payment stress to variable-rate mortgage holders. And that's something policymakers will contemplate as they consider whether to raise rates next week, the economist says. (robb.stewart@wsj.com; @RobbMStewart)
0618 ET - Financial products offered by Chinese financial institutions are growing faster than retail deposits, Moody's Ratings says in a commentary. It estimates that outstanding balances of these products rose 15.5% in 2025, accelerating from 13.9% in 2024, citing data from asset managers and Chinese regulators. Retail deposit growth in the nation slowed to 9.7% from 10.4% over the same period. "Most of the underlying investments are liquid standard assets, such as bonds and money market funds, rather than illiquid nonstandard credit assets," it says. (tracy.qu@wsj.com)
0517 ET - Bitcoin remains caught between improving institutional adoption and persistent macroeconomic pressures, Zaye Capital Markets analyst Naeem Aslam says in a note. Switzerland's financial regulator has approved the country's first retail spot bitcoin exchange-traded fund while J.P. Morgan Asset Management has incorporated bitcoin into its long-term capital market assumptions for the first time, he says. Institutional demand has also improved with bitcoin ETFs recording net inflows. However, Treasury yields and the dollar rise as oil prices jump on Middle East supply disruptions, weighing on bitcoin. Bitcoin's immediate performance remains driven by dollar liquidity, interest-rate expectations, institutional fund flows, and leveraged trading activity, he says. Bitcoin falls 0.1% to $82,727, LSEG data show. (renae.dyer@wsj.com)
0513 ET - Chinese households are increasingly shifting their wealth into financial products and offshore investments from property and bank deposits in search for for higher returns, according to Moody's Ratings, citing data from asset managers and regulators in China. "This trend is creating growth opportunities for wealth management and cross-border financial services," it says. While tighter regulatory and tax enforcement may slow offshore investment growth in the near term, demand is likely to remain resilient due to the attractive return differentials between offshore and onshore assets, it says. (tracy.qu@wsj.com)
0445 ET - Aberdeen Group still has the opportunity for future upgrades and a rerating, Peel Hunt analysts Rae Maile and Ross Luckman say in a note. The asset manager reiterates guidance for profit of at least 300 million pounds, and capital generation of about the same amount, with analyst estimates reflecting that too. Although consensus for the current year has risen to meet those longstanding estimates, little is expected for subsequent periods, the analysts say. "The company maintaining profit guidance is another useful reminder of the change management is delivering," the analysts say. Shares are down 3.5% at 226.80 pence and are up 13% over the past 12 months. (anthony.orunagoriainoff@dowjones.com)
0222 ET - Bangkok Bank's net profit is likely to be higher in 4Q than in 3Q, CGS International's Weerapat Wonk-Urai says in a research report. The key driver is rising net interest income stemming from healthy loan growth and decent net interest margin, the analyst says. Also, the Thai bank's credit costs should fall on quarter in 4Q, thanks to better asset quality and its robust non-performing loan coverage ratio of 322%. The brokerage raises the stock's rating to hold from reduce and its target price to 181.00 baht from 152.00 baht to reflect higher long-term return-on-equity assumption. Shares are 1.1% lower at 180.50 baht. (ronnie.harui@wsj.com)
0158 ET - Prudential PLC's new business profit likely rose in 3Q on growth in most markets, say Citi analysts in a note. They project an 8.1% increase on the year on an annual equivalent rate basis. The insurer's 3Q business activity in Hong Kong likely remained broadly consistent with 1H trends. The fundamental demand drivers for mainland Chinese customers buying Hong Kong policies were largely unchanged, while local customer demand remained decent. Markets such as Malaysia, Thailand and India also likely bolstered its new business profit. These likely offset a high base for Prudential PLC's mainland China segment, they say. Citi keeps a buy rating and 14.00 pound sterling target price for the London-listed stock. Shares last closed at 8.886 pounds.(megan.cheah@wsj.com)
0124 ET - Kiatnakin Phatra Bank's outlook for operations appears positive, based on the CEO's remarks, says Jesada Techahusdin at Maybank Securities (Thailand) in a report. At an analyst meeting, the CEO highlighted a lower non-performing loan ratio, strong non-interest income growth, lower funding costs, disciplined cost control, and improving asset quality. On lending, management views the corporate segment as offering the best risk-adjusted returns due to solid asset quality and attractive fee-generation. The brokerage lifts its 2026-2027 net profit forecasts for the Thai bank by 4%-6%. It raises the stock's target price to 130.00 baht from 125.00 baht with an unchanged buy rating. Shares are 3.0% lower at 114.00 baht.(ronnie.harui@wsj.com)
0018 ET - The acceleration in Korea's recent core inflation is unlikely to prompt aggressive monetary tightening by the central bank, as it seems less concerning, says Capital Economics' Jason Tuvey. The pickup largely reflects indirect energy-price effects and rising electronic-component prices amid the global artificial intelligence boom, with the effect expected to prove temporary, Tuvey notes. "We don't expect second-round effects to materialize, meaning that the central bank will not need to tighten monetary policy aggressively," he says. Weak domestic demand and little evidence of labor-market tightness make it unlikely that the shocks will spill over into inflation expectations and wage growth, he adds. Capital Economics expects the BOK to hold rates on Thursday and deliver just one more 25bp hike to 3.25% in the current tightening cycle. (kwanwoo.jun@wsj.com)
2354 ET - CIMB's trading income is expected to ease from elevated levels recorded in 1H, while higher funding costs could continue to pressure lending margins, Public Investment Bank analyst Wong Ling Ling says in a note. Non-interest income could weaken due to potential mark-to-market losses on fixed-income investments, she reckons. Strong corporate loan growth in Malaysia and higher contributions from Singapore are expected to provide some support, she says. Wong cuts CIMB's 2026-2028 earnings estimates by 2%-4%, to factor in lower non-interest income and weaker net interest margins due to higher funding costs. Public IB cuts CIMB's target price to 8.40 ringgit from 8.70 ringgit, while maintaining an outperform rating. Shares are 0.1% lower at 7.14 ringgit. (yingxian.wong@wsj.com)
2344 ET - National Australia Bank's bear at Morgan Stanley sees the lender's job cuts as supportive of a better-than-expected costs narrative at its November's annual result announcement. Analyst Richard E. Wiles estimates NAB could generate A$400 million-A$500 million in gross cost savings from the operating-model changes announced this week. While some of the savings from up to 2,500 redundancies will be used to increase investment, Wiles tells clients in a note that he expects fiscal 2027 guidance for costs growth of less than 3%. MS has a last-published underweight recommendation on the stock and a target price of 34.00 Australian dollars. Shares are up 1.1% at A$39.62.
Comments