Global Markets See Mixed Signals: Thailand’s Streak Ends, Japan’s Yields Shift, and Vietnam Prepares for IPO

Group 1 - Fitch Ratings has reaffirmed ANZ Bank New Zealand's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'A+' with a Stable Outlook, indicating strong support prospects from its Australian parent and a robust operating environment [3][8] - Vietnam's Hoa Phat Agriculture Development JSC (HPA) has submitted an application for an Initial Public Offering (IPO) and plans to list on the Ho Chi Minh Stock Exchange as early as December 2025, aiming to offer up to 30 million shares to fund investments in farms, feed mills, and operational working capital [6][8] - A hedge fund trade group has urged the U.S. Securities and Exchange Commission (SEC) to ease short-seller rules, arguing that current regulations hinder public offerings and deter firms from participating in stock sales, highlighting ongoing industry debate regarding market transparency and capital formation [7][8] Group 2 - Thailand's stock index ended an eight-day winning streak, closing at 1,306.46, indicating a slight correction after a period of sustained growth as investors assess future market drivers [4][8] - The Japanese bond market saw fluctuations, with the yield on 5-year Japanese Government Bonds (JGBs) decreasing by 0.5 basis points to 1.15%, while a ¥614.9 billion 20-year bond auction cleared at an average yield of 2.654% [5][8]