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

0307 GMT - Horizon Robotics, which makes self-driving computing chips, should benefit from rising demand for more advanced driving-assistance features, Deutsche Bank analyst Bin Wang says in a research note. "The market for intelligent driving systems is expanding rapidly," Wang says. Penetration of high-level autonomous-driving solutions in China surged to 28.5% in 2025 from 12% in 2024, the analyst notes, citing third-party data. That's likely to climb from a projected 45% in 2026 to 80% by 2030, he says. Deutsche Bank has a buy rating on the stock with a target price of HK$10.50. Shares are last at HK$8.23. (tracy.qu@wsj.com)

0258 GMT - The landslide election win by Japan's LDP is likely to raise the probability of the Topix reaching 4250 by the end of 2026, Morgan Stanley MUFG Securities says. The target is the brokerage's bull-case scenario for the index. Under this scenario, "expanded fiscal spending and investment in economic security and defense would improve earnings prospects and reduce risk premia, lifting the forward P/E to around 17X," four of its economists and strategists write in a research report. "Near term, we see scope for outperformance by large-cap, highly liquid, high-beta stocks and defense-related names," they add. The Topix rises 2.3% to 3785.59 by the midday break. (ronnie.harui@wsj.com)

0248 GMT - Most sectors in Malaysia will likely deliver stronger results for 4Q 2025, supported by resilient domestic demand, sustained investment momentum and a firmer ringgit, Maybank IB analyst Lim Sue Lin says in a note. Autos, aviation, consumer, ports and logistics, REITs, construction and healthcare will likely outperform, while tech, plantations and utilities might see mixed results. Banks and telcos will likely deliver stable earnings, with dividends likely to rise, she says. Electronics exports are likely to remain robust this year, improving Malaysia's trade balance, while data-center construction continues to attract sizeable FDI inflows, alongside a broader domestic investment upward cycle that is expected to stay firm in 2026, she adds. Malaysia's equity market momentum is expected to remain strong, supported by improving liquidity, supportive policy signals and renewed foreign inflows, Maybank adds. (yingxian.wong@wsj.com)

0156 GMT - CapitaLand Integrated Commercial Trust's distribution per unit is likely to grow in 2026, says RHB Research's Vijay Natarajan in a note. Improving growth in rental rates, full-year contribution from recent buys and lower financing costs are likely to boost the real-estate investment trust's earnings, he says. The analyst is also upbeat about the trust's move to develop the commercial component in a mixed-use site in Singapore, as it is likely to provide healthy total returns. He raises his 2026-2027 DPU projections by 1.0%-2.0%, estimating a 3.0% compound annual growth rate over 2026-2028. RHB Research raises its target price for the REIT to S$2.73 from S$2.69 while maintaining its buy rating. Units rise 1.2% to S$2.48.(megan.cheah@wsj.com)

0114 GMT - Public Bank's 4Q 2025 earnings could see on-quarter net interest margin compression, Maybank IB analyst Desmond Ch'ng says in a note. However, benign credit costs could provide support, as it has over MYR900 million of preemptive provisions. He expects 2025 core net profit to grow 4.5%, and accelerating to 5.3% in 2026 on stable margins and low credit costs. LPI Capital's plans to place out its 1.1% stake in Public Bank by June could also help reduce uncertainty and potential selling pressure, he reckons. Improved capital ratios could also be one of Public Bank's earnings catalysts in 2026, he adds. Maybank raises Public Bank's target price to MYR5.45 from MYR5.10, while maintaining a buy rating on the stock. Shares are 0.4% higher at MYR4.99.(yingxian.wong@wsj.com)

0054 GMT - Prime Minister Sanae Takaichi's election victory could ultimately boost the need for stock investment as a hedge against inflation, says Masayuki Kubota of Rakuten Securities. Although Takaichi's proactive growth strategy is expected to be positive for the economy, it may also carry side effects, such as the intensification of inflationary pressures, Kubota says. "While tax cuts and subsidies may provide short-term relief for the public, they carry the risk of subjecting Japan to even more severe inflation in the long run," he says. "While inflation is a negative for people's daily lives, it is a plus for businesses and stock prices," he adds. The Nikkei Stock Average is last up 5.1%.(megumi.fujikawa@wsj.com)

0035 GMT - Uncertainty over AI impacts and market sentiment toward tech-related stocks keep Macquarie analysts cautious on REA Group despite the Australian real-estate advertiser's solid medium-term earnings outlook. The analyst tell clients in a note that the company's medium-term earnings appear intact following its 1H results. Macquarie's forecasts are for compound annual EPS growth of more than 15% through FY 2028, which includes the newly announced A$200 million buyback. However, the analysts are cautious on where the market will end up valuing the stock against the current backdrop. Macquarie cuts its target price 4.8% to A$200.00 and stays neutral on the stock. Shares rise 1.5% to A$170.67. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. (stuart.condie@wsj.com)

0015 GMT - HD Hyundai Electric is likely to top its 2026 target for new contract wins as global power-grid investments increase, Kiwoom Securities' Lee Han-gyeol writes in a note. The South Korean electrical-equipment maker continues to benefit from solid demand for power transformers and circuit breakers in North America and from supply shortages in Europe, the analyst says. The company guides for $4.22 billion worth of new contract wins this year, and its annual order intake is likely to exceed guidance, he adds. In 2025, the company topped its annual target of $3.82 billion by securing $4.27 billion worth of new orders. (kwanwoo.jun@wsj.com)

0014 GMT - Japanese stocks are sharply higher in early trade after Prime Minister Sanae Takaichi led her party to a landslide victory in the general elections on Sunday. Kawasaki Heavy Industries is up 7.4%, and Hitachi Ltd. is 5.9% higher among the big gainers. The election victory will allow Takaichi to pursue drastic fiscal changes to shore up Japan's economy. USD/JPY is at 156.79, compared with 156.86 as of Friday's Tokyo stock market close. Investors are focusing on any details of Takaichi's economic plans. The Nikkei Stock Average is up 4.1% at 56490.42. (kosaku.narioka@wsj.com; @kosakunarioka)

0003 GMT - UBS reminds Australian gold producers to be prepared for any prolonged pullbacks in gold prices, as mining costs drift higher. Gold companies have been increasingly "chasing incremental, lower-margin material and production growth albeit at higher unit costs" to take advantage of record-high metal prices, UBS says. "While many gold miners are protected in the short/medium term by puts struck at very strong prices, we continue to watch the recent volatility in gold," the bank says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2355 GMT - Fund manager GQG Partners loses a bull in Morgan Stanley, which cites risks to its flows over the next 12-18 months. GQG had six consecutive months of net outflows totaling US$12 billion in 2H of 2025. "Our tracking at Feb. 3 indicates majority of strategies remain below benchmarks on a 3-year and 5-year basis," says analyst Andrei Stadnik. "Given this, we think outflows will persist in the near term." MS downgrades GQG to equal-weight, from overweight, and lowers its price target by 34% to A$1.75/share. Its earnings forecasts fall 7% and 14% for FY 2026 and FY 2027, respectively. "Despite offering value at 8x FY 2026 price-to-earnings, we see few positive catalysts near term," MS says. GQG is down 2.7% at A$1.65. (david.winning@wsj.com; @dwinningWSJ)

2346 GMT - MS finds reasons to like and dislike HMC Capital's strategic partnership with KKR to build out its energy transition platform. "Some investors may have considered the Energy Transition strategy an overhang for HMC," analyst Simon Chan says. Securing KKR as a partner has eased risks of a FY 2026 EPS downgrade, MS says. It also means HMC gets a return on capital. However, MS notes the transaction is almost akin to a structured financing deal. "It is not structured like a typical JV/externally managed fund, whereby HMC would earn a management fee as a percentage of assets, development fees, and rights that rank equally between partners," MS says. KKR is guaranteed a 14%/year return. MS retains an equal-weight call on HMC, which is down 0.9% at A$3.885. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

February 08, 2026 22:07 ET (03:07 GMT)

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