Peloton Interactive To Exit All Owned-manufacturing Operations; Expanding Rexon Partnership

Fitness equipment maker Peloton Interactive, Inc. (PTON) is reportedly planning to cut about 500 jobs or 12 percent of its remaining workforce. This will be the company's fourth round of layoffs this year as it struggles to return to profit.

The Taiwan stock market has finished higher in two straight trading days, gathering more than 550 points or 2.7 percent in that span. The Taiwan Stock Exchange now sits just above the 20,030-point plateau although it may spin its wheels on Tuesday. The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference. The TSE finished modestly higher on Monday following gains from the technology and cement stocks, while the financial and plastics sectors were mixed. For the day, the index improved 161.68 points or 0.81 percent to finish at 20,034.41 after trading between 19,972.07 and 20,073.75. Among the actives, Cathay Financial and Nan Ya Plastics both perked 0.16 percent, while Mega Financial shed 0.40 percent, Fubon Financial fell 0.25 percent, E Sun Financial collected 0.91 percent, Taiwan Semiconductor Manufacturing Company climbed 1.01 percent, United Microelectronics Corporation added 0.56 percent, Hon Hai Precision spiked 2.52 percent, Largan Precision sank 0.67 percent, Catcher Technology strengthened 1.39 percent, MediaTek stumbled 2.17 percent, Delta Electronics soared 3.03 percent, Novatek Microelectronics jumped 1.99 percent, Formosa Plastics lost 0.73 percent, Asia Cement rallied 1.59 percent and CTBC Financial and First Financial were unchanged.

The Singapore stock market has moved lower in three straight sessions, slumping more than 20 points or 0.6 percent in that span. The Straits Times Index now sits just above the 3,810-point plateau although it may stop the bleeding on Tuesday. The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference. The STI finished modestly lower on Monday following mixed performances from the financial shares, property stocks and industrial issues. For the day, the index slipped 11.98 points or 0.31 percent to finish at 3,811.80 after trading between 3,797.17 and 3,821.68. Among the actives, CapitaLand Integrated Commercial Trust rallied 1.40 percent, while CapitaLand Investment added 0.75 percent, City Developments sank 0.80 percent, Comfort DelGro shed 0.65 percent, DBS Group dipped 0.12 percent, Hongkong Land jumped 1.29 percent, Keppel DC REIT gained 0.48 percent, Keppel Ltd plunged 2.56 percent, Mapletree Pan Asia Commercial Trust dropped 0.82 percent, Oversea-Chinese Banking Corporation lost 0.44 percent, Seatrium Limited slumped 1.02 percent, Singapore Technologies Engineering spiked 1.66 percent, SingTel advanced 0.80 percent, Thai Beverage climbed 0.98 percent, Wilmar International rose 0.32 percent, Yangzijiang Financial collected 0.71 percent, Yangzijiang Shipbuilding soared 2.27 percent and Emperador, Genting Singapore, Mapletree Industrial Trust, Mapletree Logistics Trust, SembCorp Industries, SATS, DFI Retail Group and Frasers Centrepoint Trust were unchanged. The lead from Wall Street suggests little movement as the major averages opened higher on Monday, slumped mid-session but rallied to finish mixed and little changed.

The Malaysia stock market has moved higher in four straight sessions, gathering more than 35 points or 2.2 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,520-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference. The KLCI finished modestly higher on Monday as gains from the financial shares and telecoms were capped by weakness from the plantations. For the day, the index climbed 12.39 points or 0.82 percent to finish at the daily high of 1,521.59 after trading as low as 1,511.48. Among the actives, Axiata increased 0.99 percent, while Celcomdigi was up 0.27 percent, Gamuda accelerated 1.75 percent, IHH Healthcare and Tenaga Nasional both perked 0.29 percent, IOI Corporation sank 0.82 percent, Kuala Lumpur Kepong gained 0.71 percent, Maxis improved 1.10 percent, Maybank collected 1.22 percent, MISC jumped 1.66 percent, MRDIY lost 0.61 percent, Nestle Malaysia gathered 0.47 percent, Petronas Chemicals rallied 1.45 percent, Petronas Dagangan eased 0.11 percent, PPB Group slid 0.33 percent, Press Metal climbed 1.24 percent, Public Bank soared 2.06 percent, QL Resources surged 2.11 percent, RHB Bank spiked 1.84 percent, Sime Darby fell 0.48 percent, SD Guthrie shed 0.64 percent, Sunway picked up 0.22 percent, Telekom Malaysia added 0.88 percent, YTL Corporation rose 0.53 percent, YTL Power advanced 1.20 percent and 99 Speed Mart Retail, CIMB Group and Hong Leong Financial were unchanged.

The South Korea stock market has moved higher in back-to-back sessions, collecting more than 25 points or 1 percent in that span. The KOSPI now sits just beneath the 2,550-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference. The KOSPI finished slightly higher on Monday following gains from the industrial, weakness from the technology and chemical companies and a mixed picture from the financial sector. For the day, the index rose 2.56 points or 0.10 percent to finish at 2,548.86 after trading between 2,541.97 and 2,558.69. Volume was 449.07 million shares worth 7.73 trillion won. There were 519 decliners and 366 gainers. Among the actives, Shinhan Financial sank 0.80 percent, while KB Financial fell 0.35 percent, Hana Financial collected 1.31 percent, Samsung Electronics perked 0.18 percent, Samsung SDI shed 0.49 percent, LG Electronics dropped 0.84 percent, SK Hynix retreated 1.30 percent, Naver climbed 1.03 percent, LG Chem stumbled 1.56 percent, Lotte Chemical tanked 2.83 percent, SK Innovation gained 0.42 percent, POSCO advanced 0.97 percent, SK Telecom plummeted 6.75 percent, KEPCO improved 1.19 percent, Hyundai Mobis was up 0.40 percent, Hyundai Motor rose 0.11 percent and Kia Motors added 0.57 percent.

The Australian stock market is trading modestly higher on Tuesday, extending the gains in the previous three sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,000 mark, with gains across most sectors led by iron ore miners and energy stocks.

Singapore will on Tuesday release Q1 numbers for unemployment, highlighting a very light day for Asia-Pacific economic activity.

The U.S. dollar weakened against its major counterparts in the New York session on Monday, as investors focused on upcoming earnings announcements and some crucial U.S. economic data.