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

2125 ET - Commonwealth Bank could face a tougher earnings outlook from Australia's payments reforms than business-oriented rivals, Citi analysts warn. From next month, Australian card surcharges will end and interchange fee caps will be lowered to 30 basis points from 80 basis points. Citi's analysts observe that cards and payments remain important fee pools for the country's banks, accounting for 12% of industry fees through household credit cards. They warn in a note that extra pricing transparency may lead consumers to increasingly weigh fees against benefits, which may support challengers. The analysts think banks with greater reliance on retail fees, particularly Commonwealth, may face extra headwinds at a time when mortgage margins are already compressed. (stuart.condie@wsj.com)

2124 ET - Brent crude prices are expected to remain elevated in 4Q, supported by persistent disruptions around the Strait of Hormuz, rising risks at Bab el-Mandeb and constrained Middle East exports, Hong Leong IB analyst Thye May Ting says in a note. Global oil supply deficits have widened as regional production and exports were disrupted, while recovering Chinese crude imports add further upside risk for Brent prices, she says. She expects Brent to be at $95/bbl-$100/bbl toward end-2026, and raises her 2026 average price assumption to $90/bbl from $80/bbl. Hong Leong maintains an overweight rating on Malaysian oil and gas sector, pegging Dialog as its top pick on its stronger earnings visibility. (yingxian.wong@wsj.com)

2105 ET - Lovisa gets a new bull at UBS on the stock's underperformance since last month's annual result announcement. Shares in the fashion jewelry retailer jumped 13% on the Aug. 26 announcement, but retreated 22% across the next 12 sessions. Raising his recommendation to buy from neutral, UBS analyst Shaun Cousins tells clients in a note that risk reward now looks attractive. He points out that the consensus price-to-earnings multiple has fallen to 20.3X from 27.8X at the start of the year, even as store network expansion and improved operations support sales growth and mitigate competition threats. UBS maintains a target price of 28.00 Australian dollars. Shares are up 3.1% at A$22.30. (stuart.condie@wsj.com)

2101 ET - Malaysian consumer sector could see seasonally softer 3Q sales, as cautious spending and persistent inflationary pressures weigh on demand, CIMB Securities analyst Walter Aw Lik Hsin says in a note. Consumers are expected to prioritize essentials and value-for-money purchases, while discretionary spending remains subdued, he says. He expects consumer spending to recover in 4Q, supported by year-end festivities, government cash assistance and potential fiscal measures, he reckons. Companies are expected to manage higher costs through selective price increases and tighter cost controls rather than broad-based price hikes, he adds. CIMB maintains a neutral rating on the Malaysian consumer sector, pegging QL Resources, Nestle (Malaysia), Empire Premium Food and Life Water as its top picks to capture defensive spending and consumer downtrading. (yingxian.wong@wsj.com)

2021 ET - Japanese stocks are lower in early trade as uncertainty over the Iran war and the Fed policy outlook continues. Chip and metals stocks are leading the declines. Kioxia Holdings is down 7.9% and Mitsui Kinzoku is 5.8% lower. The dollar is at 153.50 yen, compared with Y154.09 as of Friday's Tokyo stock market close. Investors are focusing on developments in the Middle East, crude oil prices and bond yields. The Nikkei Stock Average is down 1.6% at 62977.54. (kosaku.narioka@wsj.com; @kosakunarioka)

1944 ET - Japanese stocks may decline as uncertainty over the Middle East conflict and the Fed policy outlook continues. Nikkei futures are down 1.4% at 63130 on the SGX. The dollar is at 153.58 yen, compared with Y154.09 as of Friday's Tokyo stock market close. Investors are focusing on developments in the Iran war and crude oil prices. The Nikkei Stock Average fell 1.9% to 64011.34 on Friday. (kosaku.narioka@wsj.com)

Australian stocks look set for a modest opening rise, paring hefty losses compiled across their worst week since March. Local futures are up by 0.2% ahead of Monday's session, suggesting that the S&P/ASX 200 could snap a run of four daily declines. The benchmark index shed almost 3% last week amid rising oil prices and bond yields. Ahead of the open, Cleanaway Waste Management said private-equity suitor EQT confirmed it intends to proceed with a takeover on terms consistent with its initial approach. Gold miner Northern Star names Mark Cutifani and Peter Rozenauers as independent nonexecutive directors.