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

0219 GMT - The impact of rising bond yields on Malaysian banks' debt investments remains manageable, says Maybank IB analyst Desmond Ch'ng in a note. Proactive treasury management could help cushion potential mark-to-market losses, while banks' strong capital positions should be more than sufficient to absorb any losses from debt securities measured at fair value through other comprehensive income, he reckons. The banks' capital management and dividend plans are expected to remain intact, with average dividend yields of about 5.6% in 2026, he adds. Maybank maintains a neutral rating on Malaysia's banking sector, and rates Public Bank, Hong Leong Bank, AMMB, Alliance Bank Malaysia and Hong Leong Financial at buy. (yingxian.wong@wsj.com)

0217 GMT - Malaysia's near-term inflation pressures are expected to pick up as higher oil prices feed through to fuel-related costs, but headline inflation is likely to remain around 1.9%-2.0% in September, CIMB analysts Chew Khai Yen and Michelle Chia say in a note. The broader inflation outlook could remain benign, with softer core inflation pointing to contained underlying price pressures, they add. This supports CIMB's view that Bank Negara Malaysia will maintain the overnight policy rate at 2.75% at its November monetary policy meeting. (yingxian.wong@wsj.com)

0200 GMT - Malaysia's consumer sector is facing renewed cost pressures and limited earnings catalysts, which could cap further gains in valuations, Affin Hwang IB analyst Peggie Wong Pei Chi says in a note. Key commodity prices have risen on El Nino-related supply risks, while the Malaysian ringgit's earlier appreciation has eased, reducing the cost cushion for companies, she says. Underlying consumer demand could remain resilient, supported by fuel subsidy and likely higher cash assistance under Budget 2027, she reckons. However, higher raw-material and labor costs, alongside uncertainty over the service tax framework, could weigh on profit margins into 2027, she adds. Affin Hwang downgrades Malaysian consumer sector's rating to neutral from overweight, pegs 99 Speed Mart Retail as its preferred exposure.(yingxian.wong@wsj.com)

0150 GMT - Tenaga Nasional shares appear oversold after falling 12% from their recent high, with earnings expected to strengthen in 2H, RHB analyst Max Koh says in a note. As the government is raising the threshold for fuel surcharges and other electricity charges to 800kWh a month from 600kWh from September to December, the utility will need to absorb 120 million ringgit-150 million ringgit in additional fuel costs, he notes. The cost represents about 2%-3% of their expected 2026 earnings estimate and could have limited impact on forecasts, he says. Earnings could get a boost from a lower effective tax rate in 4Q, which may offset the higher subsidy costs, he reckons. RHB maintains a buy rating on Tenaga and keeps its target price at 16.50 ringgit. Shares are 0.6% lower at 12.96 ringgit. (yingxian.wong@wsj.com)

0144 GMT - Singapore property developers' valuations remain attractive to UOB Kay Hian's Lock Mun Yee, who notes that the sector trades below its average price-to-book ratios. These valuations appear inexpensive to her as the companies' net-asset values are likely to be supported by firm residential prices and the robust outlook for Singapore commercial and retail properties in the city-state, she says in a note. The analyst expects 8,000-9,000 new home sales in 2026, while prices could increase 2.0%-3.0%. Buying sentiment is likely to be shaped by factors like developers' pricing strategy and location considerations amid rising interest rates, she adds. UOB Kay Hian maintains its overweight rating on Singapore developers. Its sector picks include City Developments.(megan.cheah@wsj.com)

0137 GMT - Pantoro Gold's output rate puts it on track to produce 21,000-22,000 oz of gold in 1Q FY 2027, says MA Moelis Australia. That would be a marked improvement from the two quarters immediately preceding, when it produced roughly 17,000-18,000 oz each time, it says. As of Sept. 19, Pantoro produced 19,130 oz--in line with MA's forecast for the entire quarter. "Production so far suggests the company is trending well towards its guidance--albeit it remains early in the year," says MA. Pantoro has forecast FY 2027 gold output of 90,000-105,000 oz, and says only 40%-45% of annual output will happen in 1H. MA has a buy rating and target price of 3.65 Australian dollars a share on the miner. The stock is up 3.3% at A$2.86. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0132 GMT - Tenaga Nasional is expected to bear an additional 120 million ringgit-150 million ringgit in electricity costs from September to December, TA Securities analyst Hafriz Hezry says in a note. The costs stem from the government's decision to raise the threshold for fuel surcharges and other electricity charges to 800kWh a month from 600kWh during the three-month period. The higher costs could reduce Tenaga's 2026 expected net profit by about 2.0%-2.5%, while the impact beyond December remains unclear, he says. He expects regulatory risks to weigh on Tenaga's near-term share performance, particularly if fuel prices remain elevated into 2027. TA Securities downgrades Tenaga's rating to hold from buy, cuts target price to 13.80 ringgit from 18.00 ringgit. Shares are 0.9% lower at 12.92 ringgit. (yingxian.wong@wsj.com)

0057 GMT - The chip-industry boom is expected to generate substantial corporate cash in South Korea, with the extent to which companies repatriate overseas earnings likely to be a key determinant of domestic financial-market dynamics, Goldman Sachs analysts say. South Korean semiconductor companies are projected to generate roughly 150 trillion won in net cash, equivalent to 4.9% of gross domestic product in 2026, and the figure could rise to 9.3% of GDP in 2027, analysts led by Irene Choi write in a research note. Historically, companies have repatriated around 60% of their foreign-affiliate earnings on average, they note. They expect wage and dividend payments by major chip companies to reach 5.2% of GDP in 2027, the highest level in the available historical data. (kwanwoo.jun@wsj.com)

0041 GMT - Japanese bank stocks look relatively attractively valued, as the potential benefit of rising interest rates doesn't appear to be fully priced in, T. Rowe Price's Daniel Hurley says in a note. The U.S. asset manager expects the Bank of Japan to continue to tighten, which will likely present a stock-selection opportunity, the portfolio specialist for Japanese equity strategy says. While T. Rowe Price remains constructive on the long-term potential of artificial intelligence, growth expectations are already reflected to a significant extent in the valuations of many AI stocks, the U.S. asset manager says. Improving corporate governance, stronger capital discipline, dividends and share buybacks can also support companies even where underlying earnings growth is relatively modest, it says. Japan's stock market is closed for holidays Monday through Wednesday. (kosaku.narioka@wsj.com; @kosakunarioka)

2359 GMT - Ramelius Resources' new FY 2030 production target is, at its midpoint, 12% above consensus, says RBC Capital Markets. The miner's FY 2030 all-in sustaining cost guidance, also at its midpoint, is 4% below consensus, the broker says. In the nearer term, Ramelius's FY27 production and AISC guidance are broadly in line with expectations, it says. RBC has a sector perform rating and 3.70 Australian dollar share target on Ramelius. The stock ended Friday at A$3.58. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2351 GMT - Australian stocks look set to resume their recent slide in early trade, adding to losses compiled across three consecutive weekly declines. ASX futures are down by almost 0.7% ahead of Monday's session, suggesting that the S&P/ASX 200 will extend the 3.8% decline recorded so far in September. Investors are waiting on next week's Reserve Bank meeting, which is expected to end with an interest-rate increase and hawkish commentary on the potential for further increases. Ahead of Monday's open, Perpetual rejected EQT AB's best and final takeover proposal, Ingenia rejected Warburg Pincus's improved offer, and Telix Pharmaceuticals agreed to buy isotope supplier ITM for up to US$2.35 billion. Resolute Mining downgraded its 2026 gold production and cost guidance on challenges in Mali.