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

2107 ET - Forsyth Barr expects a strong set of 1Q operating statistics from New Zealand's electricity companies when they update the market later this month. It notes operating conditions in the wholesale electricity market are little changed, with renewable power generation breaking through 95% for the first time on a rolling 12-month basis. Still, rising interest rates and election uncertainty have weighed on the sector recently. New Zealand voters are due to go to the polls in November. Forsyth Barr's top picks in the sector are Contact Energy and Mercury NZ. (david.winning@wsj.com; @dwinningWSJ)

2106 ET - Tower gets a new bull in Forsyth Barr, which has greater confidence in the general insurer's partnership-led growth and leverage to a recovery in pricing. Tower this week upgraded its FY26 underlying net profit outlook to NZ$69 million-NZ$79 million. That's 23% above the midpoint of earlier guidance. Analyst James Lindsay says gross written premium growth of 3% beat his expectations. It suggests stronger-than-expected 2H momentum from organic and partnership-led customer growth. "Given our expectations for risk-mix impacts to moderate through 1H27 and previous analysis suggesting the New Zealand insurance pricing cycle could be approaching trough levels, our confidence in Tower's growth outlook has improved," Forsyth Barr says. It upgrades the stock to outperform, from neutral. (david.winning@wsj.com; @dwinningWSJ)

2105 ET - Top Glove's improved earnings prospects are likely more than reflected in its share price following the recent rally, despite a more positive outlook for average selling prices, Maybank IB analyst Wong Wei Sum says in a note. Management guided higher average selling prices trend for October and November as Chinese glove makers show greater discipline and demand and supply become more balanced, she notes. Cost efficiencies should also support sustainable pretax margins of around 8%-12%, she says. However, potential minimum-wage increases could raise production costs. Wong raises Top Glove's FY2027-FY2028 earnings estimates by 113%-116%, as FY2026 earnings beat expectations. Maybank raises Top Glove's target price to 0.73 ringgit from 0.71 ringgit, while maintaining a sell rating. Shares are 2.3% higher at 0.90 ringgit. (yingxian.wong@wsj.com)

2054 ET - Singapore banks face downside 3Q earnings risks as market optimism on Singapore-dollar rates looks misplaced and exceptional wealth-related income in 1H normalizes, says Citi analyst Yong Hong Tan in a note. Citi expects net interest margin contraction as Singapore-dollar fixed-deposit rates rise 35-70 bps, fixed-rate loans reprice lower, and the one-month Singapore Overnight Rate Average rises about 10 bps. It cuts Oversea-Chinese Banking to sell from neutral, lowering its target to 27.50 Singapore dollars from S$32.00. DBS remains a buy with its target raised to S$86.80 from S$85.00, while UOB is maintained as a sell with an unchanged S$38.00 target. DBS closed 0.9% higher at S$78.56 on Tuesday, while OCBC rose 1.0% to S$32.20 and UOB gained 1.5% to S$43.72. (venkat.pr@wsj.com)

2054 ET - Sun Hung Kai Properties' rental income is likely to continue growing as newly completed investment properties ramp up, says Fitch Ratings in a note. Recovering demand for prime office space and the stable performance of the Hong Kong company's retail portfolio is likely to buoy earnings from SHK Properties' existing portfolio, Fitch says. The ratings company expects SHK Properties' rental revenue to grow at a low-to-mid single-digit percentage in FY 2027-FY 2029 as investment assets in Hong Kong and Shanghai come online. The Hong Kong property company's strong capital management and stable, substantial recurring Ebitda should also prop up its financial profile. Shares last closed 0.6% lower at 104.40 Hong Kong dollars.(megan.cheah@wsj.com)

2051 ET - Gold producer Regis Resources posts a soft start to FY 2027, says Citi. The miner's 1Q production result of 83,000 troy ounces is 12% below Citi's expectations and 9% weaker than consensus, the bank says. "Whilst the in-line cash build despite the production miss suggests better cost control, we await the full quarterly report for more detail," says Citi. Regis plans to publish its full 1Q production result on Oct. 20. Citi notes that Regis has reiterated full-year guidance. "We expect FY27 production to land in the lower half range," the bank says. It has a neutral rating and a target price of 7.90 Australian dollars on Regis. The stock is down 2.0% at A$7.045. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2014 ET - Japan's Nikkei Stock Average is flat at 70685.22 as gains in electronics and machinery shares offset losses in financial stocks. Hitachi Ltd. is up 2.4% and Mitsubishi Heavy Industries is 2.5% higher, while Resona Holdings is down 1.5% and Rakuten Bank is 0.7% lower. The broader market index Topix is up 0.4% at 4198.52. The dollar is at 158.42 yen, compared with Y158.18 as of Tuesday's Tokyo stock market close. Investors are closely watching developments in the Middle East conflict, crude oil prices and bond yields. (kosaku.narioka@wsj.com; @kosakunarioka)

2005 ET - Nine Dragons Paper's net dollar margin is likely to decline in FY27 with the rise in paper prices lagging raw-material cost inflation, says Citi analyst Eric Lau in a note. Margins are also likely to be weighed down by subdued consumption demand and an increase in paper-pulp supply, the analyst says. Citi expects net profit per ton to fall to 145 yuan in FY27 from 152 yuan in FY26. The bank cuts its target price to 5.80 Hong Kong dollars from HK$8.80 and maintains its neutral rating. Shares closed 0.8% lower at HK$5.31. (venkat.pr@wsj.com)

1940 ET - Japanese stocks may rise following U.S. stock gains overnight as concerns about borrowing costs ease. Nikkei futures are up 0.1% at 70940 on the SGX. The dollar is at 158.25 yen, compared with Y158.18 as of Tuesday's Tokyo stock market close. Investors are focusing on developments in the Iran conflict, crude oil prices and bond yields. The Nikkei Stock Average rose 1.1% to 70683.98 on Tuesday, closing above the 70000 threshold for the first time since July 1. (kosaku.narioka@wsj.com)

1928 ET - The recent G2E casino gaming conference in Las Vegas reinforces the view at Morgan Stanley that the earnings backdrop remains supportive for Australia-listed slots makers. Reiterating an overweight rating on both Aristocrat Leisure and Light & Wonder, Morgan Stanley analysts say their meetings with casino operators, competitors and industry participants left them confident that the market leaders are positioned to take further share. They tell clients in a note that content remains the rivals' key competitive moat, pointing out that both are investing in proven franchises and extending properties across more products and channels. (stuart.condie@wsj.com)

1849 ET - Dicker Data's latest acquisition is viewed at UBS as an incrementally positive step despite its relatively small size. The investment bank's analysts tell clients in a note that Dicker Data's A$111.8 million move for regional tech-solutions distributor Sektor Group helps develop its geographic expansion at an attractive acquisition multiple. They think the deal will be immediately accretive to EPS for the Australia-listed hardware and software distributor. With Dicker Data targeting southeast Asia, the UBS analysts want to see more evidence that Sektor can grow its revenues outside of Australia and New Zealand. UBS has a neutral rating on the stock and an unchanged target price of 15.40 Australian dollars. Shares are at A$15.57 ahead of the open. (stuart.condie@wsj.com)

1838 ET - Sports Entertainment Group's regional expansion helps the sports media group secure a new bull at Bell Potter. Initiating coverage of the stock with a buy rating, analyst Michael Ardrey tells clients in a note that the Australian company's recent acquisition of New Zealand-based audio and ad platform MediaWorks brings opportunities for organic growth and above-target cost synergies. With a business that includes sports-talk radio, digital media and live events, Ardrey thinks Sports Entertainment can generate average annual Ebitda growth of 13% through fiscal 2029. Bell Potter places a target price on the stock of 0.45 Australian dollars. Shares are at A$0.265 ahead of the open.