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

0250 GMT - Macquarie analysts see risk that increased provisioning in response to the Iran conflict offsets Australian banks' improved margins. They raise their margin forecasts across the sector in response to market expectations of two more interest-rate rises by the Reserve Bank of Australia. The positive impact is crimped by lower credit growth, but they nonetheless raise their FY 2027 earnings forecasts for the major banks by between 3% and 4%. However, they warn clients in a note that any deterioration in credit quality will be punished more severely and continue to see downside risk for the sector. National Australia Bank remains Macquarie's preferred exposure, supported by a share-price pullback and potential earnings upside. (stuart.condie@wsj.com)

0247 GMT - Palm oil prices fall in early Asian trade amid weak sentiment. Prices are recently lower due to a decline in crude oil costs, which weakens the appeal of biofuels and highlights a negative demand outlook for palm oil, AmInvestment Bank says. The palm oil market now focuses on its own fundamentals, as production increases and demand remains weak, it adds. The Bursa Malaysia Derivatives contract for June delivery is 31 ringgit lower at 4,435 ringgit a ton.(amanda.lee@wsj.com)

0239 GMT - Zhipu AI faces several challenges despite its high share price, according to Jefferies analysts. They note that shares in the Hong Kong-listed company have soared about eightfold from their January IPO price. However, its product's low stickiness and the high costs needed for training to maintain model leadership are headwinds, the analysts say in a note. The coming listings of U.S. AI players and a potential inclusion in the Hang Seng Tech Index for Knowledge Atlas Technology, as the Chinese company is known officially, may support its shares in the short term, they say. Jefferies has a hold rating on the stock with a target price of HK$957.50. Shares fall 5.0% to HK$901.00. (tracy.qu@wsj.com)

0235 GMT - China Mobile's earnings growth could be weighed in 2026-2028, says DBS Group Research analysts in a note. A slower growth outlook in some segments and an anticipated drag from value-added taxes are likely to weigh on the communications services company's earnings over 2026-2028, the analysts say. They cut their earnings forecasts by around 10%-13% over this period. Nonetheless, this still implies net profit growth of 0.3%-7.4% over the three years, they add. The company has proven it is able to scale its high-margin digital growth engines and support its growth, they add. DBS cuts its target price to HK$98 from HK$110 but maintains its buy rating. Shares rise 0.1% to HK$81.55.(megan.cheah@wsj.com)

0235 GMT - Qantas's bulls at Jarden say investors are right to look through near-term risks to the carrier from the Iran conflict. Maintaining a buy recommendation on the stock, Jarden's analysts tell clients in a note that the Australian airline has demonstrated capabilities to both reprice and lower capacity, which they see as rational responses to higher jet fuel costs. They think that Qantas has the balance sheet and flexibility on capital expenditure to ride out near-term volatility, citing its decision not to begin its A$150 million share buyback. Jarden cuts its target price on the stock by 11% to A$11.25. Shares are up 1.5% at A$9.12. (stuart.condie@wsj.com)

0204 GMT - Singapore's 2026 GDP growth is likely to stay moderate in the near-term as the manufacturing momentum continues to ease, CGS International economists say in a note. The nation's 1Q 2026 advance estimates showed that manufacturing growth slowed sharply to 5.0% from 11.4% in 4Q 2025. External conditions are expected to weaken, with Singapore's key trading partners facing headwinds amid Middle East tensions. Trading activity is also likely to remain lackluster, due to persistent uncertainties in the global trade environment. CGS International maintains its 2026 GDP growth forecast at 2.8%, compared to 2025's 5.0% expansion. (amanda.lee@wsj.com)

0154 GMT - Delfi stands to benefit from falling cocoa prices, UOB Kay Hian analysts say in a research report. Cocoa prices have dropped over 60% from their 2024-2025 peaks, signaling a reversal of cost pressures that drove the chocolate confectionery product manufacturer's 2025 margin compression, the analysts say. With cocoa costs now correcting sharply, the brokerage expects a lagged but meaningful recovery in Delfi's gross margins in 2026-2027, supporting improved operating leverage and earnings recovery. Cocoa-price normalization reflects improving supply conditions in key producing regions, with expectations of surplus in 2026-2027 seasons. The brokerage raises the stock's target price to S$1.68 from S$1.12 with an unchanged buy rating. Shares are 2.5% lower at S$1.19. (ronnie.harui@wsj.com)

0122 GMT - Anta Sports Products' outperformance versus its peers is likely to be sustained despite macro headwinds, say DBS Group Research's Alison Fok and Mavis Hui in a note. The sports apparel maker's 1Q operating results came in ahead of market expectations, with its Fila brand sales achieving low-teens growth in the quarter, the analysts say. Its main Anta brand sales also performed better than expected, growing by single digits compared with a decline in 4Q. The company noted encouraging signals from Nike's intention to reduce discounting in the China market, which could drive healthier industry discount levels. DBS reiterates its buy rating and maintains its target price of HK$109.00. Shares last closed at HK$84.95.(megan.cheah@wsj.com)

0016 GMT - Japanese stocks are higher as fears ease about a shortage of energy and petrochemical products. The flow of commercial ships through the Strait of Hormuz has improved since the U.S. blockade on Iranian ports. Metals, rubber and tech stocks are leading gains. JX Advanced Metals is up 4.7%, Yokohama Rubber is 3.6% higher and SoftBank Group is up 3.5%. Investors are closely watching developments in the Middle East and the possible resumption of U.S.-Iran talks to resolve the conflict. The dollar is at 158.86 yen, compared with Y159.23 as of Tuesday's Tokyo stock market close. The Nikkei Stock Average is up 1.0% at 58467.35. (kosaku.narioka@wsj.com; @kosakunarioka)

0005 GMT - Lithium demand continues to improve, but there is merit in taking profits from the sector, says Morgan Stanley. The bank has been overweight on lithium since December 2024 because it expected demand to surprise positively. "That remains the case, driven by accelerating Chinese electric vehicle exports and strong Energy Storage System demand," analyst Rahul Anand says. "However, improving Zimbabwe exports and possible Chinese licensing regime easing could add some relief." MS downgrades PLS to equal-weight, from overweight, with the stock above its revised price target of A$5.25/share. It stays underweight on IGO. (david.winning@wsj.com; @dwinningWSJ)

0003 GMT - Evolution Mining might slightly underperform peers after reporting higher-than-expected 3Q costs, says Ord Minnett analyst Paul Kaner. Evolution's 3Q all-in sustaining cost of A$2,220/oz is 9% higher than the broker expected and 16% above consensus, he says. Still, gains in gold prices overnight could offset the miss "given the large/liquid/relative operational delivery appeal in the name," says Kaner. The broker has an accumulate rating and A$13.10/share target on the stock. Shares are up 4.7% at A$13.81. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2354 GMT - Japanese stocks may rise as fears ease about a shortage of energy and petrochemical products. The flow of vessels through the Strait of Hormuz has improved, though commercial traffic is still a fraction of what it was before the war. Nikkei futures are up 1.4% at 58810 on the SGX. The dollar is at 158.80 yen, compared with Y159.23 as of Tuesday's Tokyo stock market close. Investors are focusing on developments in the Middle East as hopes continue that the U.S. and Iran will resume talks to resolve the conflict. The Nikkei Stock Average rose 2.4% to 57877.39 on Tuesday. (kosaku.narioka@wsj.com)

(END) Dow Jones Newswires

April 14, 2026 22:50 ET (02:50 GMT)

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