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

0245 GMT - Hanwha Ocean's earnings could be pressured by a stronger won, says Eon Hwang at Nomura. The analyst cuts his operating-profit forecasts for the South Korean shipbuilder by 9.3% for 2026, 13.5% for 2027 and 11.5% for 2028, citing the won's appreciation against the dollar. Hwang expects Hanwha's new shipbuilding contracts to rise about 47% to $14.7 billion this year. A decline in new containership orders is likely to be offset by an increase in new LNG vessel orders, he says. Meaningful new orders from the U.S. Navy are unlikely, given congressional opposition to constructing naval ships overseas. Nomura cuts its target price for Hanwha to 56,000 won from 63,000 won and maintains a reduce rating on the stock. Shares are last 3.8% lower at 84,800 won.(kwanwoo.jun@wsj.com)

0240 GMT - Manipal Health Enterprises' earnings are expected to grow thanks to its expansion through a mix of brownfield and greenfield projects, Jefferies equity analysts Alok Dalal and Dhawal Khut say in a note. The investment bank has initiated coverage of the Indian hospital operator with a buy rating on the stock and a target price of 870 rupees. Jefferies forecasts Manipal's revenue to grow 17% annually and its Ebitda to increase 19% annually over FY 2026-FY 2029. Shares closed 1.5% higher at 729.80 rupees on Wednesday.(venkat.pr@wsj.com)

0223 GMT - The next phase of AI infrastructure growth could be shaped less by chip design and more by access to key materials used in high-speed networking equipment, according to research firm Digitimes. The rapid adoption of faster optical modules for AI data centers is driving a shift toward semiconductor-style manufacturing, helping expand the market to an estimated $45.4 billion by 2030 from $12.6 billion in 2025. But the transition is exposing a new bottleneck: demand for indium phosphide, a material used in laser components, is expected to outstrip supply from 2026, potentially slowing shipments of next-generation products. Suppliers are increasingly using investments and acquisitions to secure capacity and future growth, Digitimes says. (sherry.qin@wsj.com)

0214 GMT - The Johor Bahru-Singapore rapid transit system link will likley drive another construction boom in the Malaysian city, with its planned opening in late 2026 or early 2027 set to transform Bukit Chagar into a major transport hub, Maybank IB analyst Yin Shao Yang says in a note. Nearby developments valued at more than 11 billion ringgit could benefit from stronger pedestrian traffic, cross-border commuting, retail spending and property demand, he says. Sunway Construction likely a key beneficiary, with a possible 1.0 billion ringgit contract from a MRT Corp joint venture potentially adding about 60 million ringgit to net profit. The proposed 10 billion ringgit Johor elevated transit network could further boost construction across Greater Johor Bahru when completed in 2030-2031, he adds. Maybank maintains its positive rating on Malaysia's construction sector. (yingxian.wong@wsj.com)

0150 GMT - Adaro Andalan Indonesia's 2H earnings are expected to strengthen on higher coal prices, supported by stronger demand from Asian buyers, BRI Danareksa analysts Erindra Krisnawan and Kafi Ananta say in a note. Customers are building inventories amid elevated crude-oil prices, while concerns remain over disruptions at some mines due to the dry season. The brokerage, however, adds that production costs should increase from 2Q levels given the company's FY26 stripping-ratio target of 4.3 times, a measure of the amount of waste material that needs to be removed for every unit of coal mined. BRIDS maintains its buy rating and target price of 12,400 Indonesian rupiah on the stock. (venkat.pr@wsj.com)

0133 GMT - Inari Amertron appears to be entering a transition period, shifting towards higher-growth AI solutions, Public Investment Bank analyst Chong Hoe Leong says in a note. The outlook is supported by recovering RF demand and rapid growth in photonics revenue, which could double to about 200 million ringgit in FY 2027 as AI data-center demand rises, he reckons. A new testing program for optical communication components provides another AI-related growth avenue. Inari has set aside 450 million ringgit in capital expenditure, mainly for optical-photonics processing and plant expansion, he notes. Chong raises Inari's FY2027-2029 EPS forecasts by 10%-15%. Public IB raises Inari's target price to 3.06 ringgit from 2.60 ringgit, while maintaining an outperform rating on the stock. Shares are 0.4% higher at 2.66 ringgit.(yingxian.wong@wsj.com)

0114 GMT - Korea Gas is set to benefit from growing earnings contributions from its overseas energy projects, Yuanta Securities Korea' Son Hyun-jeong and Kim Ko-eun. The analysts expect the South Korean state-owned liquefied natural gas supplier's consolidated operating profit to rise 14% to 2.404 trillion won in 2026, with overseas operations accounting for 25% of total profit, up from 15% in 2025. LNG fields in which the company has invested,especially in Canada and Mozambique, have significantly increased production recently, driving earnings growth, they note. Yuanta initiates coverage of the stock with a buy rating and 47,000 won target price. Shares are 0.4% higher at 36,300 won. (kwanwoo.jun@wsj.com)

0058 GMT - Earnings momentum for the Malaysian rubber products sector appears to be stabilizing, while steep share-price corrections in recent years have made valuations more attractive, Affin Hwang IB analyst Andrew Lim says in a note. Pricing competition is also less aggressive than anticipated, with the gap between Malaysian and China manufacturers narrowing to about $0.50 per 1,000 pieces from nearly $4 previously, he says. More rational pricing and cost pass-through should help sustain recent margin improvements, despite higher natural-gas costs, he adds. Affin Hwang upgrades the country's rubber products sector's rating to overweight from underweight and pegs Hartalega as its top pick. (yingxian.wong@wsj.com)

0047 GMT - WH Group's dividend outlook faces greater uncertainty amid operational challenges, especially after its unit, Smithfield, further lowered its 3Q26 outlook due to weak demand and declining pork and hog prices, Citi analyst Tiffany Feng says in a note. The bank cuts WH Group's 2026-28 net profit forecasts by 10%-11% and reduces its dividend payout assumption to 50% from 66%. Citi has opened a 30-day negative catalyst watch on WH Group and cut its target price to 8.20 Hong Kong dollars from HK$9.90. It, however, keeps a buy rating, citing a dividend yield of more than 5% under its conservative payout assumption. Shares last closed 4.4% lower at HK$7.10. (venkat.pr@wsj.com)

0024 GMT - MMG earnings will get a boost mainly from higher copper prices and lower cost assumptions at its Las Bambas mine, Citi analyst Jimmy Feng says in a note. The bank revised its earnings estimates upward for 2026-28 following the metal miner's first-half performance. Citi also raised the stock's target price to 12.00 Hong Kong dollars from HK$11.20, while maintaining a buy rating. Shares closed 1.7% higher at HK$9.78 Wednesday. (venkat.pr@wsj.com)

0014 GMT - Japanese stocks are lower in early trade on rising concerns over the Iran war and higher energy costs. Construction and retail stocks are leading the declines. Taisei is down 4.9% and Ryohin Keikaku is 2.4% lower. The dollar is at 153.49 yen, compared with Y153.15 as of Wednesday's Tokyo stock market close. Investors are closely watching developments in the Middle East and oil prices after Brent crude topped $100 a barrel for the first time since July. The Nikkei Stock Average is down 0.6% at 64759.80. (kosaku.narioka@wsj.com; @kosakunarioka)

0009 GMT - U.S. steel spreads continue to strengthen for BlueScope Steel, says Jefferies. It says the spot spread for BlueScope's North Star steel plant is up 1% week-on-week at US$848/metric ton. The spread has gained 16% over the past three months, Jefferies says. BlueScope guided to a US$750/ton spread in 1H FY27, says the bank. That "suggests a strong lead into 2H27," given a roughly one-month lag on about 75% of its volume, says the bank. Shares are down 0.8% early in Sydney at 30.87 Australian dollars, alongside a broadbased decline in Australian equities.