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

0326 GMT - The dollar is expected to trade between 154.30 and 157.60 yen this week as investors seek clues on U.S. and Japanese monetary policy, says Sony Financial Group analyst Kumiko Ishikawa. Market participants are eyeing potential back-to-back Bank of Japan interest-rate increases in September and October, following hawkish remarks from board member Hajime Takata last week, she says. If another board member Kazuyuki Masu takes a similarly aggressive stance in his speech on Thursday, markets could further price in such a scenario, driving the yen higher, she adds. The dollar was last trading at 156.10 yen. (megumi.fujikawa@wsj.com)

0325 GMT - The Malaysian government's spending plan could benefit convenience-store chain 99 Speed Mart Retail, with higher cost-of-living aid expected to drive consumer spending for daily essentials, AmInvestment Bank analyst Heng Yii Paul says in a note. The retailer should benefit from continued shift among consumers toward lower-priced alternatives as elevated commodity prices keep household cost pressures high, he says. Same-store sales growth and improving margins could provide further support, he adds. Energy-efficiency initiatives are expected to provide cost savings, while its partnership with Midea could create an additional upside for margins, he adds. AmInvestment Bank resumes coverage on 99 Speed Mart Retail with a buy rating and a target price of 4.25 ringgit. Shares are 1.5% higher at 3.48 ringgit. (yingxian.wong@wsj.com)

0315 GMT - The Singapore dollar weakens slightly against its U.S. counterpart on a likely technical correction after touching a nearly four-month high late last week. "Into Monday, thin U.S. holiday liquidity and renewed geopolitical tensions may result in choppier price action," OCBC Group Research's Christopher Wong says. However, "unless the USD finds a fresh leg higher, upside in USDSGD may remain restrained," the FX strategist adds. The U.S. dollar is 0.1% higher at 1.2677 Singapore dollars; the greenback touched S$1.2655 last Thursday, the lowest intraday level since May 11, and fell as low as S$1.2656 last Friday, LSEG data show. (ronnie.harui@wsj.com)

0315 GMT - Zhongji Innolight could ride the promising demand for optical interconnects in the AI era, Citi analysts say in a research note. Innolight's revenue could grow at a compound annual growth rate of 129% between 2025-2028 thanks to strong AI optics demand, bandwidth upgrades, rapid capacity ramp ups and its improving product mix, they say. The optical transceiver maker could double its production capacity this year and more than double it next year to fulfill the rising demand, they say. Meanwhile, Innolight's blended average selling price should also increase thanks to the premiumization of its product mix, they say. Citi initiates its coverage on Innolight's H shares with a buy rating and a HK$1,524.00 target price. Shares are last at HK$1,125.00. (sherry.qin@wsj.com)

0314 GMT - Iron ore prices are higher in early Asia trade, thanks to a temporary decline in port arrivals, pre-holiday restocking by steel mills and elevated freight costs, says Huatai Futures analysts. They note gains are likely to be capped by ample seaborne supply and weak mill profitability. China's iron-ore arrivals are sharply lower, while global shipments remain elevated, showing near-term supply is tighter but may recover into the next cycle, they say. Demand recovery appears limited by weak steel-mill margins. The most actively traded January iron ore contract on the Dalian Commodity Exchange is 1.5% higher at CNY745.5 a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

0306 GMT - Laopu Gold will likely continue gaining market share, driven by its expanded customer base and brand position, Citi Research analysts say in a note. The Chinese gold jeweler has seen high growth in the heritage gold segment, despite bigger players and new entrants in the industry. This shows that Laopu has a hard-to-replicate brand advantage over its competitors, they say. Citi has a buy rating and a target price of 507.00 Hong Kong dollars on the stock. Shares are 2.1% lower at HK$390.00.(amanda.lee@wsj.com)

0304 GMT - China's AI models don't "represent a fundamental threat to broader U.S.-led AI ecosystem," Lombard Odier says in a research note. While China offers cheaper models, a low price per token doesn't necessarily mean a lower cost per result once the AI model is actually used, the Swiss private bank adds. A less capable model may need more tokens to finish a same task, it adds. Competition between the U.S. and China is likely to continue. "The U.S. retains the lead in frontier AI capabilities, while China is well placed to accelerate adoption through lower-cost models and deployment at scale," Lombard Odier says. (tracy.qu@wsj.com)

0256 GMT - OpenAI's new GPT-6 Astra could accelerate AI adoption across industries and sustain strong demand for AI infrastructure, according to a Nomura report. The brokerage says the model marks a major step forward in AI systems' ability to tackle complex tasks, adapt to unfamiliar situations and carry out agent-like work over longer periods. Nomura warns that companies that fail to incorporate AI into their operations risk becoming less competitive as the technology advances. It adds that the race to build AI data center capacity is unlikely to ease anytime soon.(jie.yang@wsj.com)

0252 GMT - Palm oil rises in early Asian trading, driven by output worries amid El Nino conditions affecting both Malaysia and Indonesia, AmInvestment Bank says in a note. Technical analysis suggests CPO futures may see some consolidation or profit-taking near resistance levels, it says. The market is likely to adopt a buy-on-dips strategy as long as prices remain above 4,850 ringgit-4,900 ringgit a ton, it adds. AmInvestment Bank expects palm oil prices to face resistance at 4,956 ringgit a ton and find support at 4,891 ringgit a ton. The Bursa Malaysia Derivatives contract for November delivery is up 22 ringgit at 4,951 ringgit a ton. (yingxian.wong@wsj.com)

0249 GMT - Zijin Mining's multimetal synergies should reinforce its earnings resilience, say DBS Group Research analysts in commentary. The Chinese miner is a key beneficiary of the broad-based rally across metals such as gold and copper, the analysts say. They expect the company to progressively restore its copper output through 2H as certain mines' production recover and ramp up. The lithium segment could also be a key contributor, with output expected to accelerate in 2H, the analysts say. DBS maintains its buy rating and target prices of 51.00 yuan for its Shanghai-listed shares and 55.00 Hong Kong dollars for its Hong Kong-listed shares, citing rising volume growth and high mining margins. Shares last at 33.07 yuan in China and HK$36.28 in Hong Kong. (megan.cheah@wsj.com)

0243 GMT - ESR-REIT's units may be weighed in the near term, RHB Research's Vijay Natarajan says in a report. First, the REIT recently announced that its second-largest tenant, which accounts for around 5% of rental income, has entered administration and is in arrears related to rental payments, the analyst notes. Second, the chief executive officer of the REIT's manager has decided to step down and the board is looking for a successor, which could lead to a strategy change. RHB Research downgrades its rating on the REIT to neutral from buy and lowers its target price to 2.48 Singapore dollars from S$3.05. Units are unchanged at S$2.27. (ronnie.harui@wsj.com)

0225 GMT - China Mobile's earnings in 2026-2028 could continue to be weighed by value-added tax and moderating growth in its traditional business, say DBS Group Research's Andy Yu and Vanessa Lee in a note. This leads the analysts to cut their earnings estimates for the period by 4.0%-9.8%, implying profit contracting in 2026 before returning to growth in 2027-2028. Still, the Chinese mobile services provider's dividend commitment remains firm, they say, noting the management guides for its 2026 dividend payout ratio to be "stable to rising." DBS trims its target price to 96.00 Hong Kong dollars from HK$98.00 and retains a buy rating. Shares fall 0.7% to HK$79.10.