Asian markets opened mixed on Thursday as investors digested a flurry of corporate and regulatory headlines. India's market regulator barred a JPMorgan-owned entity from the securities market over alleged manipulation in the closing auction session, while European engineering firm WSP Global reaffirmed its pursuit of Dutch consultant Arcadis after two rejected bids. Meanwhile, German producer prices accelerated to their fastest pace in over three years, adding to inflation concerns.
SEBI Bars JPMorgan Entity in Closing Auction Probe
India's Securities and Exchange Board (SEBI) has barred Copthall Mauritius Investment, a JPMorgan-owned entity, and a local broker from participating in the securities market while it investigates alleged manipulation during the new Closing Auction Session. The regulator claims Copthall placed large above-market buy orders across Sensex stocks during the August 13 derivatives expiry, with some orders later cancelled, potentially boosting options gains by 29.6 million rupees. SEBI has ordered a combined 36.8 million rupees to be impounded and barred both firms from the closing auction until further notice. JPMorgan declined to comment.
WSP Global Presses Ahead with Arcadis Takeover
WSP Global has reaffirmed its intention to acquire Dutch engineering consultant Arcadis, despite two rejected approaches, including an improved €51.50-per-share proposal. Reuters estimates the latest bid at about €5.4 billion including debt, but Arcadis has stated the offers undervalue the company. WSP plans to submit an offer memorandum to the Dutch regulator by October 15, even though Arcadis's boards have not engaged. A 19% employee-foundation shareholder also opposes the takeover, raising the bar for any formal bid.
German Producer Inflation Accelerates
German producer prices rose 3.0% year-on-year in July, the fastest increase since April 2023 and above the 2.7% consensus. Prices jumped 1.1% from June, with intermediate goods up 5.4% and energy up 3.8% from a year earlier. The reacceleration adds fresh pressure to the inflation outlook as higher energy costs and record-low Rhine water levels raise manufacturing and transport expenses.
Skanska Wins .2 Billion Data Center Contract
Skanska signed a contract worth about SEK11.2 billion ($1.19 billion) to build four data centers for an existing client in the southeastern United States. The projects total roughly 75,000 square meters and include shells plus interior fit-outs for technical, support, and office spaces. Construction is due to begin in Q3 2026 and finish in Q3 2028. Skanska did not identify the client or specific locations.
IDP Education Plunges on Weak Outlook
IDP Education shares fell as much as 29.5% to a record low of A$1.53 after the IELTS co-owner warned that fiscal 2027 adjusted EBIT would decline. The company guided to A$95 million–A$115 million of adjusted EBIT versus A$122.9 million in FY26, after statutory annual net profit dropped nearly 75%. Student volumes across Australia, the UK, the US, and Canada fell 25%, and IDP is responding by cutting 1,250 roles and shrinking its IELTS footprint to fewer than 600 venues from about 1,500. The results show how tighter immigration policies are translating into materially weaker international student demand.
China Holds Loan Rates Steady
China kept its benchmark loan prime rates unchanged for a 15th straight month, leaving the one-year LPR at 3.00% and the five-year rate at 3.50%. All 25 respondents in a Reuters survey had expected no change. The decision suggests policymakers are leaning more heavily on faster fiscal deployment rather than fresh rate cuts while banks contend with near-record-low net interest margins. July lending data also showed a record contraction in new yuan loans, underscoring weak household credit demand.
Standard Chartered Expands Hedge Fund Offerings
Standard Chartered is expanding access to hedge-fund strategies for wealth clients as it looks for returns less correlated with traditional stocks and bonds. The bank highlighted equity-market-neutral and multi-strategy fund-of-hedge-fund approaches, while HFR data cited by Reuters showed industry assets rose by a record $409 billion last quarter to $5.6 trillion. The push fits a fast-growing wealth franchise: Standard Chartered's first-half wealth income rose 38%, supported by stronger investment activity and client demand.
Arm Stock Upside Shrinks After Chip Rout
Arm closed at $249.34 after a 1.6% decline, leaving only 4.3% upside to the $260 median analyst target even though the $287.79 average target implies 15.4%. TS2 Tech notes that the average is pulled higher by a $500 top target, while Arm trades at about 255.8 times trailing earnings versus roughly 33.3 times for Nvidia and 119.7 times for AMD. Operating growth remains strong, with June-quarter revenue up 22% to $1.29 billion and data-centre royalties more than doubling. The gap between growth and valuation makes the median target a clearer gauge of how much optimism is already embedded in the shares.
