The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0803 GMT - The Philippines central bank's bigger-than-expected 50bp rate hike could be the final one of its tightening cycle, if energy prices stabilize and drop back from early next year, Capital Economics' Jason Tuvey says. BSP has now delivered 125 bps of tightening as high inflation and a weak peso remain key concerns. It says it is ready to take further action, but CE thinks focus will shift to supporting growth. Excluding the pandemic, GDP growth in 2Q was the slowest since late 2009, and CE expects the recovery to be bumpy over the coming quarters. Iif energy costs remain elevated into next year and El Niño stokes food inflation, BSP is likely to keep rates high for longer than CE anticipates or even hike again. (fabiana.negrinochoa@wsj.com)
0710 GMT - Kasikornbank expects 2026 loan growth to be above its 0%-2% target, based on management commentary, says CGS International's Weerapat Wonk-Urai in a report. Management said more loans are likely to be drawn down in 4Q, including large corporate, housing and auto loans, the analyst notes. The Thai bank also expects its 4Q fee income growth to be driven by insurance and wealth management services. Moreover, management said the impact from recent floods in Thailand remains limited. The brokerage raises the stock's target price to 262.00 baht from 253.00 baht to reflect valuation roll-forward, with an unchanged add rating. Shares are 1.3% higher at 241.00 baht. (ronnie.harui@wsj.com)
0530 GMT - Kiyo Bank is likely to deliver stable profit growth at a high level, Nomura analysts say in a research report. Drivers are loan and deposit income and associated transactions, as well as steady momentum in acquisition of deposits, the analysts say. The Japanese bank's return on equity is also higher than at other regional banks, and will likely stay this way, the analysts say. Kiyo bank has higher financial leverage than other banks, which boosts return on assets from rises in interest rates, more readily contributing to rises in ROE. Nomura initiates coverage of the stock with a buy rating and a target price of 2,190 yen. Shares are 1.65% lower at 1,547 yen. (ronnie.harui@wsj.com)
0450 GMT - Sea's new AI cloud offering could affect capital allocation going forward, John Choi and Jackson Wei of Daiwa Capital Markets say in a note. In the long term, Sea could gain exposure to a large and rapidly growing AI infrastructure market that isn't currently reflected in market expectations or valuation frameworks, they write. However, significant capital will be required to scale and become competitive in its new cloud business, the analysts add. In the near term, investors will likely focus primarily on the likelihood, timing and potential valuation of a listing of Sea's financial-services arm, they say. While near-term margin pressures may persist as Sea prioritizes growth, a standalone listing could encourage investors to place greater value on Monee independently, they add. (kimberley.kao@wsj.com)
0424 GMT - SCB X's solid dividend yields and earnings growth over FY 2026-FY 2028 back CGS International's rating upgrade to add from hold for the Thai financial company's stock. The Thai company's 3Q asset quality mostly improved, with sequentially lower new nonperforming loan formation in all loan segments besides its auto-title lending subsidiary, analyst Weerapat Wonk-urai says in a note. He projects the company's FY 2026-FY 2028 earnings to grow 5.9%-7.5%, while its dividend yields are likely to stand at 7.0%-8.0%. CGSI also raises its target price to 163.0 baht from 160.0 baht. Shares rise 2.4% to 150.50 baht. (megan.cheah@wsj.com)
0410 GMT - Singapore's consumer-price index likely rose 2.4% on year in September, slightly higher than August's 2.3%, according to the median estimate of economists polled by The Wall Street Journal. Core CPI, which excludes private road transport and accommodation, likely rose 2.3% in September, up from August's 2.2%, according to six of the seven polled economists. Headline inflation likely rose due to higher petrol prices, Nomura economists say in a note. Core inflation is also expected to reflect broadening price pressures from the energy price shock, they add. The data are due Friday.(amanda.lee@wsj.com)
0325 GMT - Kiatnakin Phatra Bank's earnings are expected remain solid after posting excellent 3Q results, UOB Kay Hian's Thanawat Thangchadakorn says in a research report. Key positive surprise was the Thai bank's non-interest-income being 43% above expectations of UOB Kay Hian. This was partly thanks to robust fee and service income. The brokerage continues to expect substantial increases in Kiatnakin Phatra Bank's fee and service income, backed by its wealth business and other segments. It lifts its earnings forecasts for the bank by 8.0% for 2026, 10.4% for 2027, and 13.6% for 2028. UOB Kay Hian raises the stock's target price to 150.00 baht from THB135.00 with unchanged buy rating. Shares are 0.4% higher at THB115.00. (ronnie.harui@wsj.com)
0122 GMT - Malayan Banking's earnings visibility could remain uncertain amid volatile Malaysian government securities yields and rising funding costs, says Hong Leong IB analyst Raymond Ng in a note. While a potential interest rate hike could support net interest margins, benefits may lag rising deposit costs. The lender's 5-year strategy puts its 13%-14% return-on-equity target by 2030 within reach, but execution risks and technology investments could temper gains, he reckons. Potential foreign outflows and prolonged market volatility in Indonesia could keep the operating environment challenging for Maybank, though the market remains a relatively small contributor to earnings, he adds. Hong Leong has a hold rating and a 10.50 ringgit target price. Shares are 0.3% higher at 9.98 ringgit. (yingxian.wong@wsj.com)
1404 GMT - 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)
1144 GMT - 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)
1018 GMT - 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)
0917 GMT - 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.
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