The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

0333 GMT - REA Group's bear at Bell Potter sees evidence of an ongoing mismatch in price expectations between Australia's property buyers and sellers. With an unchanged sell rating on the News Corp-controlled property advertiser, analyst Michael Ardrey tells clients in a note that REA's listings decline accelerated in August despite a weak year-earlier period. He flags low auction clearance rates and an increase in the time properties are taking to sell as evidence of a difficult selling season. He acknowledges that REA has shown it can generate strong results in challenging environment, but sees significant risk to volumes and earnings relative to guidance. Bell Potter raises its target price 0.7% to 148.00 Australian dollars. Shares are down 2.0% at A$156.07. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. (stuart.condie@wsj.com)

0320 GMT - Nikkei futures extend gains and the yen weakens, after the Bank of Japan raises its policy rate by a quarter percentage point to 1.25% in a widely expected move. The BOJ says underlying inflation is approaching its target of 2% and that it would keep a close eye on the Middle East conflict, yen movements and artificial-intelligence demand. Investors' attention is turning to Gov. Kazuo Ueda's press conference due later Friday for clues on the pace of future rate increases. Nikkei futures are now 1.4% higher at 65130, compared with up 0.5% before the BOJ's move. The dollar rises to 156.90 yen from Y156.14. (kosaku.narioka@wsj.com; @kosakunarioka)

0313 GMT - Premier Investments' bull at UBS says the strength of its domestic sleepwear business and a stake in small-appliance maker Breville support the stock's attractive risk/reward. Looking forward to next week's annual result announcement, analyst Shaun Cousins acknowledges that the retail conglomerate faces headwinds from its efforts to expand the Peter Alexander sleepwear chain in the U.K. but tells clients in a note that its core domestic operation is executing well under a strong brand. Premier owns 25% of ASX-listed Breville, a holding that Cousins reckons is underappreciated within Premier's valuation. UBS keeps a buy rating on the stock with an unchanged target price of 16.50 Australian dollars. Shares are down 0.4% at A$11.21. (stuart.condie@wsj.com)

0255 GMT - Samsung Electro-Mechanics is expected to post a 3Q earnings beat on accelerating price increases for multilayer ceramic capacitors and flip-chip ball-grid-array substrates, iM Securities analyst Ko Eui-yeong says. The analyst estimates the South Korean electronics-component maker to report operating profit of 650 billion won in the July-September period, up 150% from a year earlier and about 9% above the market consensus estimate. Profit could have neared 700 billion won in 3Q if the won hadn't appreciated against the dollar from 2Q, Ko says. Strong demand and tight supply for MLCCs, especially for U.S. artificial-intelligence data-center servers, and FC-BGA substrates are driving selling prices higher at a faster-than-expected pace, he adds. (kwanwoo.jun@wsj.com)

0219 GMT - Grid capacity constraints across Asia are tightening as AI and data center-driven power demand continues to grow, BMI says in a note. Regulatory tightening is evident in Thailand, Malaysia and Australia, and could continue as governments seek to protect grid stability, it says. Electricity demand is forecast to grow an average 2.9% annually in Thailand, 3.3% in Malaysia and 5.6% in Vietnam over the next decade, driven mainly by data centers and AI workloads. Supply constraints could peak in Malaysia and Thailand this year before easing as new generation capacity comes online, but pressure could persist into 2027. A renewed push for thermal power is likely, particularly in emerging markets, as policymakers turn to reliable generation to meet rising demand amid tightening grid conditions, BMI says. (yingxian.wong@wsj.com)

0204 GMT - Price increases in Japan are expected to gain full momentum in the coming months across a wide range of items, including food and daily necessities, says NLI Research Institute economist Taro Saito. As the effects of utility subsidies fade, growth in consumer prices excluding fresh food is likely to accelerate above 2% in October and reach 3% toward the end of the fiscal year in March 2027, he adds. The core measure climbed 1.7% on year in August, vs. July's 1.8% increase, Friday's data showed. The Bank of Japan is widely expected to raise rates to 1.25% later in the day, with economists and investors projecting at least one more hike to come by the year's end.(megumi.fujikawa@wsj.com)

0153 GMT - Potential initial public offerings of artificial intelligence companies such as DeepSeek and Anthropic could create near-term liquidity headwinds for already-listed AI names like Z.AI, says UOB Kay Hian's Julia Pan in a note. The new listings could divert investor capital away from existing listed names as investors reassess relative growth, monetization and valuations, the analyst says. Still, the near-term dilution could be offset by a stronger valuation read-through from these potential IPOs, she adds. She notes Anthropic is targeting a potential valuation of up to $2 trillion, equivalent to around 20X its estimated $100 billion 2026 annualized revenue run rate, versus Z.AI's roughly 18X. A successful IPO at Anthropic's valuation could establish a higher valuation benchmark and support a broader sector rerating, she adds.(megan.cheah@wsj.com)

0146 GMT - Malaysia's consumer spending in 2H could remain skewed toward essentials and value-for-money purchases, CIMB Securities analyst Walter Aw Lik Hsin says in a note. Spending should be supported by inelastic demand, government assistance such as cash handouts, and a potential minimum-wage increase, he says. Discretionary spending is likely to remain subdued, with any recovery concentrated in semiessential, lower-priced categories as consumers continue to trade down, he reckons. Aw thinks defensive, mass-market names are positioned to benefit from essential spending and consumer downtrading, with affordability the key theme for 2H. CIMB maintains its neutral rating on Malaysia's consumer sector, pegging QL Resources, Empire Premium Food, Life Water and Nestle (Malaysia) as its top picks. (yingxian.wong@wsj.com)

0125 GMT - Malaysia's Budget 2027 is likely to emphasize targeted spending and resource reallocation, given limited fiscal room, says AmInvestment Bank analyst Paul Yap Ee Xing in a note. With oil prices above $100 a barrel and the fuel subsidy bill potentially rising to around 40 billion ringgit from the budgeted 15 billion ringgit, broad-based stimulus is likely to be constrained, he says. The Budget may focus on targeted cost-of-living measures and infrastructure spending while maintaining fiscal discipline, he reckons. Yap continues to favor consumer-related stocks, like 99 Speed Mart Retail. Investors should watch for potential labor-cost pressures from a minimum-wage review and identify companies that could benefit from government spending, he adds. (yingxian.wong@wsj.com)

0115 GMT - The U.S. rate increase could have minimal impact on Malaysia's semiconductor sector, as strong artificial-intelligence-related investment, data-center expansion and the broader semiconductor growth cycle continue to support demand, TA Securities analyst Chan Mun Chun says in a note. Tighter monetary policy could weigh on valuations, particularly for stocks trading at high multiples, although a stronger dollar could support earnings at export-oriented companies with dollar-denominated revenue, he says. The sector's recovery could remain uneven, with growth led by integrated-circuit design, optoelectronics and semiconductor packaging and testing. Companies exposed to AI and data centers should benefit, while those reliant on PCs and smartphones could face pressure from higher memory costs, he adds. TA Securities maintains a neutral rating on Malaysia's semiconductor sector, pegging Dagang NeXchange as its top pick. (yingxian.wong@wsj.com)

0011 GMT - Japanese stocks are higher in early trade after a fall in crude oil prices amid eased fears about Middle Eastern supplies. Chip-related stocks are leading the gains. Lasertec is up 5.3% and Advantest is 3.9% higher. The dollar is at 156.15 yen, compared with Y155.58 as of Thursday's Tokyo stock market close. Investors are closely watching developments in the Iran conflict and the Bank of Japan's rate decision later Friday. The Nikkei Stock Average is up 0.8% at 64646.49. (kosaku.narioka@wsj.com; @kosakunarioka)

2350 GMT - Japanese stocks might rise as crude oil declined overnight amid easing concerns about Middle Eastern supplies. Nikkei futures are up 0.9% at 64795 on the SGX. The dollar is at 156.03 yen, compared with Y155.58 as of Thursday's Tokyo stock market close. Investors are focusing on developments in the Iran conflict as well as the Bank of Japan's rate decision due later Friday. The Nikkei Stock Average rose 0.3% to 64136.25 on Thursday.