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

0358 GMT - TPG Telecom's bull at Macquarie see an increasing chance that the Australian mobile operator engages in capital management. With an unchanged outperform rating on the stock, an analyst at the investment bank calls clients' attention to TPG's surprise dividend hike and reiteration of its policy to sustainably grow its twice-yearly payout. Supporting this view, a note from the analyst points to limited capital expenditure commitments until spectrum payments in FY 2028, and its debt refinancing. TPG's free cash-flow profile and growth are improving, the analyst adds. Macquarie lifts its target price 2.5% to 4.10 Australian dollars. Shares are up 0.4% at A$3.825. (stuart.condie@wsj.com)

0352 GMT - WiseTech's bull at Citi sees signs that the logistics-software provider's redundancy program may be running more slowly than anticipated. Analyst Siraj Ahmed says an analysis of LinkedIn suggests that Australia-listed WiseTech reduced its headcount by 885 since January. He points out in a note that this is lower than WiseTech's target of 2,000, and tells clients that it compares with his assumption that the company's fiscal 2027 accounts will include expenditure on 1,700 redundancies. That said, Ahmed acknowledges that people might not be quick to update their LinkedIn profile after being made redundant. Citi has a last-published buy rating on the stock and a target price of 55.05 Australian dollars. Shares are 2.7% higher at A$43.47. (stuart.condie@wsj.com)

0349 GMT - China Resources Beer's 2026-2027 earnings outlook appears weak, UOB Kay Hian analysts say in a note. The brewer's 1H beer revenue rose 2% on year, driven by 2% sales-volume growth. However, beer sales volumes weakened in May and remained muted into July, the analysts note. They forecast beer sales volume to be roughly flat in 2026, with average selling prices rising only slightly, supported by a softer comparison base for 2H. UOB KH lowers its 2026 and 2027 revenue projections for the company by 2%. The brokerage also cuts its target price for the stock to 28.60 Hong Kong dollars from HK$30.30 while maintaining a buy rating. Shares fall 1.0% to HK$20.90. (amanda.lee@wsj.com)

0322 GMT - Li Ning's earnings are likely to be pressured by its branding investments in the short term, Nomura analysts say in a research note. The Chinese sportswear company's operating margin is expected to face continuing pressure due to its Stephen Curry partnership and national teams' sponsorship. However, Li Ning's efforts to keep investing in its brand and products may not generate reasonable returns, the analysts caution. They cite lukewarm consumer sentiment and competitive sector dynamics. Nomura cuts the stock's target price to 13.80 Hong Kong dollars from HK$16.00. Shares are 5.3% lower at HK$13.49. (amanda.lee@wsj.com)

0320 GMT - Meiji Holdings' profitability is likely to improve, SMBC Nikko Securities' Tsukasa Furuta says in a research report. In its pharmaceuticals segment, prescriptions of new drug Rezurock increased faster than expected, raising prospects for richer earnings versus guidance, the analyst says. In its food segment, sales momentum is strong across key products and improving protein demand appears poised to put its Savas brand back on a growth trajectory. The brokerage sees coming catalysts including the benefits of falling cacao costs and the Japanese company's next medium-term plan. It raises the stock's target price to 5,000 yen from Y4,800 with unchanged outperform rating. Shares are 0.4% lower at Y4,334. (ronnie.harui@wsj.com)

0248 GMT - Sunway Construction's job wins are expected to remain strong, with its 14 billion ringgit tender book providing further data-center opportunities, Maybank IB analyst Yin Shao Yang says in a note. The latest 1.04 billion mechanical, electrical & plumbing contract brings year-to-date job wins to a record 6.9 billion ringgit, or 98% of his full-year estimate. Yin raises annual job-win assumptions to 8.0 billion ringgit from 7.0 billion ringgit for 2026-2028, lifting its earnings and dividend forecasts by 2%-13%. Maybank maintains a buy rating on Sunway Construction and keeps target price at 9.62 ringgit. Shares are 2.7% higher at 8.11 ringgit. (yingxian.wong@wsj.com)

0241 GMT - Chandra Asri Pacific's bull at Maybank Sekuritas Indonesia is upbeat on the Indonesian energy and chemical company's ability to execute countercyclical acquisitions and boost its long-term value. The company signed a conditional deal to buy Jardine Cycle & Carriage's automotive business in Singapore and Malaysia, marking its entry into the broader mobility value chain and another step in its diversification strategy, the Maybank analysts say in a note. The potential deal's contribution could lift Chandra Asri's 2026-2027 earnings by 3%-5% and boost its earnings resilience, they add. Meanwhile, elevated refining margins should also support the company's near-term earnings, they add. Maybank maintains its buy rating and 2,600 rupiah target price. Shares fall 0.5% to 2,020 rupiah.(megan.cheah@wsj.com)

0227 GMT - Mapletree Industrial Trust's appointment a new chief executive of the manager will likely sharpen its focus on so-called hyperscaler data centers, given the incoming head's current role within the Singapore REIT's sponsor, Citi analyst Brandon Lee says in a note. Anand Tze Ming Chandran, Mapletree Investments' head of data centers for Asia-Pacific, will be the REIT manager's new CEO from October. His experience suggests the REIT is likely to look into data-center acquisition opportunities in Asia and Europe, which currently account for 11% and none, respectively, of its assets under management, says Lee. Citi retains its buy rating and 2.16 Singapore dollar target price on Mapletree Industrial. Units gain 0.5% to S$1.93. (megan.cheah@wsj.com)

0214 GMT - Dagang NeXchange is expected to deliver a stronger performance in 2H, particularly in its semiconductor segment, TA Securities' Chan Mun Chun says in a note. Higher average selling prices, additional production capacity and a more favorable product mix will all contribute to the stronger performance. Demand for silicon photonics products should remain robust amid the AI and data-center boom, the analyst says. Management expects 2H semiconductor selling prices to rise 5%-10%, with new equipment progressively increasing wafer capacity, he notes. The energy segment is also set to benefit from the planned October startup of a brownfield reactivation project in Malaysia's Terengganu state, he adds. TA Securities maintains a buy rating and a 0.66 ringgit target price on Dagang NeXchange. Shares fall 2.0% to 0.50 ringgit. (yingxian.wong@wsj.com)

0136 GMT - Dialog Group's FY 2027 growth should be supported by the 150,000 cubic meter storage terminal Dialog Terminal Langsat 3 expansion, targeted for completion in September, Affin Hwang IB analyst Tze Hern Ong says in a note. Growth should also benefit from a 27.8%-owned LNG-linked air separation unit, expected to be completed by late 2026. However, 1Q FY 2027 earnings could moderate sequentially as the 35 million ringgit JV dividend income in previous quarter is unlikely to recur, he adds. Ong raises Dialog's FY 2027-2028 EPS forecasts by 6%-9%. Affin Hwang raises Dialog's target price to 2.65 ringgit from 2.60 ringgit, while maintaining a buy rating on the stock. Shares are 1.0% lower at 1.97 ringgit. (yingxian.wong@wsj.com)

0118 GMT - Samsung Electronics' 2026 shareholder return program--estimated by the company at 90 trillion won to 110 trillion won--is seen as falling short of market expectations, Kyobo Securities' Choi Bo-young says. Investors had previously expected the South Korean tech giant to return up to 140 trillion won to shareholders this year, the analyst writes in a note. Although Samsung says it will be its biggest-ever shareholder return, Choi says the plan is unlikely to come as a "surprise" to investors. Samsung has approved 30 trillion won in 3Q dividends and 15 trillion won in a new share buyback for employee compensation, with other shareholder-return details to come later. (kwanwoo.jun@wsj.com)

0013 GMT - The Nikkei Stock Average edged 0.3% higher to 66212.61, tracking Wall Street's gains on Friday. Japanese stocks swung between mild gains and losses as investors digested the U.S.-Canada trade spat. Late Friday, talks between the two countries to reach a deal collapsed at the 11th hour, spurring prospects that the dispute between neighbors with almost $900 billion-a-year trading relationship could become an all-out trade war. Among best performers on Japan's benchmark index, JX Advanced Metals rose 3.3%, Screen Holdings added 3.1%, and BayCurrent advanced 3.0%. The dollar is at 158.85 yen, compared with Y158.50 around Friday's Tokyo market close.