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

0307 GMT - Iron ore is higher in early Asian trading amid expectations of lower steel output. Beijing released a draft of its latest plans to curb steel-making capacity in several key regions, according to ANZ research analysts in a commentary. Stronger steel prices are boosting the steel market's appetite for iron ore, they add. The most-traded iron-ore contract on the Dalian Commodity Exchange is 1.2% higher at CNY787.0/ton. (tracy.qu@wsj.com)

0254 GMT - National Australia Bank's bull at Jefferies is looking to the lender's annual result announcement for details on how its business unit is holding up against increased competition. Analyst Andrew Lyons acknowledges concerns that NAB's traditional strength in business banking makes it more exposed than its peers to increased industry focus on the sector. Lyons' expectation for a 1.77% net interest margin for the second half of NAB's 2025 fiscal year compares with a consensus forecast of 1.73%. He tells clients in a note that he will be looking for any sign that competition is having an adverse margin impact. Jefferies lifts its target price 1.4% to A$46.16 and keeps a buy rating on the stock, which is up 2.4% at A$44.585. (stuart.condie@wsj.com)

0217 GMT - HRnetGroup's annual earnings growth is likely to remain robust at 15% in 2026 and 2027, RHB Research's Alfie Yeo says in a report. That will be driven by an expected recovery in hiring activity, particularly in North Asia and new markets such as Vietnam, and by higher margins due to better cost control and revenue mix, the analyst says. With Singapore's economy improving, the recruitment and HR solution company should benefit from more permanent and flexible staffing placements, the analyst adds. RHB Research continues to like HRNetGroup for factors including its strong cash flow generation. It raises the stock's target price to S$0.85 from S$0.84 while keeping a buy rating. Shares are unchanged at S$0.745. (ronnie.harui@wsj.com)

0135 GMT - Posco Holdings' earnings recovery could start in 2026 on its gradually improving steel spread and decreasing one-off costs related to industrial accidents at its construction affiliate, Daiwa Capital analysts Mike Oh and Daeho Son write in a note. The South Korean steelmaker's operating profit for 2026-2027 could also improve on the Seoul government's antidumping duties on cheap steel imports and global steel mills' production controls, they say. However, revenue at the holding company could decline in 4Q of 2025 partly due to maintenance work, and its construction arm Posco E&C's provisioning costs for recent safety accidents could still weigh on the consolidated margin, the analysts add. (kwanwoo.jun@wsj.com)

0131 GMT - Merger and acquisition activity in Malaysia's plantation sector is expected to stay active into 2026, supported by firm crude palm oil prices and monetization of prime estates, Maybank IB analyst Ong Chee Ting says in a note. Year to date, MYR2.06 billion in deals have been announced, nearly double 2024 levels, he notes. He sees continued merger and acquisition motivation as companies pursue brownfield assets, unlock prime land value and rising cost pressures and workers shortage will likely hasten industry consolidation. Undervalued small-to-mid caps trading at attractive valuations such as Sarawak Oil Palms and Hap Seng Plantations are viewed as prime take private candidates, he adds. Maybank maintains a neutral rating on Malaysia's plantations and pegs Sarawak Oil Palms and SD Guthrie as preferred buys. (yingxian.wong@wsj.com)

0114 GMT - CIMB Group's 3Q earnings will likely be solid, driven by resilient non-interest income and stable asset quality, TA Securities analyst Li Hsia Wong says in a note. However, net interest margin compression and slower loan growth may weigh on earnings slightly, she says. Cost discipline remains intact as management continues targeted cost-optimization efforts, especially in establishment and technology-related expenses, she reckons. Overall operating costs are likely to stay contained this year, though bonus accrual timing and other discretionary spending may cause slight on-quarter fluctuations in 3Q and 4Q, she adds. Wong thinks CIMB's capital accretion continues to be positive, offering a healthy buffer for business expansion and sustain shareholder returns. TA Securities maintains a buy rating on CIMB and keeps its target price at MYR8.45. Shares are unchanged at MYR7.45.(yingxian.wong@wsj.com)

0026 GMT - Japan's Nikkei Stock Average is down 0.1% at 50444.14 due to profit-taking after the benchmark index crossed above the 50000 threshold for the first time on Monday. Electronics and metals stocks are leading the declines. Kioxia Holdings is down 5.3% and Canon Inc. is 4.7% lower. JX Advanced Metals is down 4.4% and Sumitomo Metal Mining is 3.0% lower. USD/JPY is at 152.55, compared with 153.00 as of Monday's Tokyo stock market close. Investors are closely watching developments in U.S.-China trade relations as well as any progress in Japanese Prime Minister Sanae Takaichi's economic measures. (kosaku.narioka@wsj.com; @kosakunarioka)

2343 GMT - Japanese stocks may rise thanks to growing hopes for easing U.S.-China trade tensions. Nikkei futures are up 0.1% at 50625 on the SGX. USD/JPY is at 152.74, compared with 153.00 as of Monday's Tokyo stock market close. Investors are focusing on developments in U.S-China relations as well as any progress in Japanese Prime Minister Sanae Takaichi's economic measures. The Nikkei Stock Average rose 2.5% to 50512.32 on Monday, crossing above the 50000 threshold for the first time.(kosaku.narioka@wsj.com)

2337 GMT - Investors are expected to view CSL's decision to delay a spinoff of flu-vaccine unit Seqirus positively, says RBC Capital Markets analyst Craig Wong-Pan. With U.S. flu-vaccine rates in decline, he says most investors didn't expect the spinoff to create value. Still, Wong-Pan says he expects CSL shares to underperform the market Tuesday given the company's announcement that it is cutting guidance, though he says the tempered growth outlook is "somewhat understandable given it has been mostly attributable to weakness in the influenza vaccine market." CSL shares are down some 15% to about A$180/share. (mike.cherney@wsj.com)

2301 GMT - Bed Bath & Beyond is looking to expand the ways it connects with customers in the next several quarters by focusing on how they live and create value around their home, CEO Marcus Lemonis says during a call with analysts. "Whether through the tools that help them create value, manage products or unlock the value in their homes, Bed Bath & Beyond will not be purely a retail play," Lemonis says. The company is looking to connect retail, services and digital innovation, he says, noting plans for shopping cart suggestions and improved speed on the company's sites. The company's current portfolio includes blockchain platforms like GrainChain, which aims to modernize supply chains for home-related commerce. (kelly.cloonan@wsj.com)

2232 GMT - Bed Bath & Beyond expects it will be able to operate with fewer people and have greater efficiency as it integrates artificial intelligence into its customer-service functions, CEO Marcus Lemonis says during a call with analysts. "That isn't a 'maybe' or 'we'd like to,' that's a, 'it's going to happen in 2026,'" he says. AI will also allow the company to reach customers in a personalized way, communicating what products they want, when they want it and how they want it, he says. That should lead to better conversion immediately and better retention in the long term, he says. "Everybody should assume that AI is an absolute mandate inside of our company as it is in almost every company," he says. (kelly.cloonan@wsj.com)

2227 GMT - Australian stocks looks set to slip at the start of the trade despite a positive lead from U.S. equities on hopes of a U.S.-China trade deal. ASX futures are down by 0.4% ahead of Tuesday's session, suggesting that the S&P/ASX 200 benchmark index could reverse its 0.4% week-opening gain. Lower precious-metals prices could weigh on shares of the country's miners. Ahead of the open, WiseTech said police and regulators were looking at alleged share trades by its executive chair. Vaccine giant CSL lowered its annual revenue guidance. The DJIA rose 0.7%, the S&P 500 added 1.2%, and the Nasdaq Composite jumped 1.9%. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

October 27, 2025 23:07 ET (03:07 GMT)

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