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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Recap: Nikkei (0.38%), Hang Seng (0.21%), Shanghai Composite (0.02%) as of 04:10 ET

Aug 19 ,2025

  • Synopsis:

    • Asia equities ended largely lower Tuesday in a quiet day's trading. Japan and Greater China's main benchmarks fell late on after a flat morning. Weakness in Australia on poor CSL results, South Korea and Taiwan underperformed. Southeast Asia mixed. Some further modest gains for India. US futures lower, Europe building on opening gains. US dollar unchanged, no movement of note in Asia currencies. Crude oil contracts lower, precious metals quiet, base metals led lower by iron ore on BHP comments. Cryptocurrencies lower.

    • Asia equities traded flat all morning only to dip noticeably in the afternoon as US futures tilted lower. A quiet session with few significant catalysts to alter the overnight handover from the US, which saw all three major benchmarks trade near to the unchanged mark all day. India stocks a standout as auto stocks continue their gains post announcement of New Delhi's GST cut over the weekend, with the Nifty 50 and Sensex benchmarks trading at three-week highs.

    • In other developments, Japan's 20Y bond auction drew weak demand, refreshing concerns over long-dated JGB sales. Australia's consumer sentiment surged in August following the RBA rate cut although index remained below the 100 optimistic level. South Korea's household debt jumped in Q2, denting hopes of a BOK rate cut next week; figures came just as the BOK Governor said the economy still faces uncertainties caused by US tariffs. Malaysia's July exports rose above market expectations as electronics shipments rose.

    • Softbank (9984.JP) is to invest $2B into Intel Corp as it ramps up it AI investment. Foxconn (Hon Hai, 2317.TT) is to manufacture data center equipment with Softbank (9984.JP) at Hon Hai's former EV factory in Ohio as part of the Stargate initiative. Country Garden (2007.HK) reached an agreement with a core group of bank creditors that holds 49% of its offshore debt in a major step towards finalizing its $14.1B debt restructuring plan. BHP (BHP.AU) posted a 26% decrease in profits over its full-year as iron ore and coking coal demand from China remained under pressure. CSL (CSL.AU) is to spin off its Seqirus vaccine business into a separately listed company and reduce its workforce by around 15%. Woodside Energy (WDS.AU) said it would take a $143M impairment charge from the exit of the H20K hydrogen project in the US, and says it wants to sell 20-30% of its Louisiana LNG holding company.

  • Digest:

    • Trump eyes Putin-Zelensky meeting following Monday's talks with European leaders:

      • Ukraine President Zelensky and European leaders met President Trump at White House on Monday (Bloomberg, FT). Talks were described as positive with discussions largely on security guarantees for Ukraine Trump confirmed openness to US involvement in any security guarantees, details of which will reportedly be worked out over coming days (FT, Reuters). Trump later said arrangements underway for meeting between Zelensky and Putin with Trump potentially involved in a trilateral summit. German and French leaders said Putin-Zelensky meeting could take place within two weeks, which Zelensky indicated would involve discussion about territory. While a big press focus lately, Ukraine diplomacy push has not provided much direction for the market, reflecting longstanding tendency to ignore geopolitical flare-ups beyond initial headline effects. Current talks have also not prompted suggestions about any imminent and significant easing of sanctions while Trump has seemingly put additional secondary tariffs on backburner to allow room for negotiations.

    • Bank of Korea Governor says domestic economy still faces high levels of uncertainty:

      • Bank of Korea's Governor Rhee said bank will have to consider range of factors before deciding on resuming monetary easing despite economy rebounding in Q2. Said economy still faces high levels of uncertainty from US trade policy while domestic financial stability risks emerging from rising delinquency rates among small businesses, regional developers. Noted housing debt growth moderated but Seoul property prices remain elevated. Rhee told parliamentary committee Tuesday inflation will likely stay close to bank's 2% target as subdued demand, stable energy prices will offset potential for higher food prices. Warned on forex volatility after noting 'significant swings' in 1,300 per dollar region. BOK set to meet 28-Aug to decide on rates; analysts polled by Bloomberg split on whether it will cut or leave base rate unchanged. Data posted Tuesday showed Q2 household lending jump by KRW24.6T or 1.3% q/q, its quickest pace since 2021, and covering a period largely before restrictions were put in place by authorities (Yonhap).

    • SoftBank to invest $2B in Intel:

      • In a joint announcement, SoftBank (9984.JP) signed an agreement to make a $2B investment in Intel (INTC) common stock for $23/sh. Intel trading up ~5% after hours. Follows a Bloomberg report indicating Trump administration in discussions to take a ~10% stake in Intel worth roughtly $10.5B that would make the US government its largest shareholder. Funding said to come from a conversion of $10.9B earmarked out of CHIPS grants to Intel for commercial and military production. SoftBank also remains in the spotlight amid a bull run in share price fueled by solid earnings and AI tailwinds. Foxconn (2317.TT) confirmed a recent Bloomberg story that SoftBank buying its EV plant in Ohio and collaborating to build AI centers in the state under the Stargate project (Nikkei). Bloomberg subsequently reported Foxconn will continue to operate the facility. Story added SoftBank scouting a number of potential data center sites to serve as a flagship for Stargate. Nikkei previously highlighted SoftBank's increasing exposure in AI, rebuilding some positions in Nvidia (NVDA), adding to stakes in Oracle (ORCL) and TSMC (2330.TT), while unloading bulk of holdings in T-Mobile (TMUS) and parent Deutsche Telekom (DTE.GR).

    • China Premier Li reaffirms pro-growth rhetoric, but nothing on fresh stimulus:

      • At a State Council plenary meeting Monday, Premier Li stressed importance of efforts to bolster China's economic recovery trajectory and achieving annual targets (Xinhua). Underscored need to take a "comprehensive and dialectical view of the economic situation," actively respond to various uncertainties and ensure the effective implementation of policymaker decisions. Urged need to "enhance the effectiveness of macroeconomic policy implementation," focus on key priorities to strengthen the domestic economy, and leverage its stability and long-term growth to cushion against global uncertainties. Continued policy push to unlock consumption potential by removing barriers and developing new markets. Also called for "solid measures" to consolidate the stabilizing trend of the property market. Remarks contrast with earlier confidence in achieving the 2025 economic goals. Recall the latest round of activity data for July marked a disappointing start to H2 as economists had been anticipating a slowdown from H1 resilience that was supported by temporary factors. Fresh stimulus widely predicted at some point as downside risks materialize amid ongoing US-China trade uncertainties, though policymakers are expected to continue monitoring developments in the near term.

    • Japan corporate earnings guidance revisions see crosswinds:

      • Nikkei highlighted the relative resilience in nonmanufacturer earnings after the latest round of FY guidance revisions. Sector share of net profits poised to grow to around 60% of the aggregate, a six-year high. Nonmanufacturers expected to mitigate weakness among manufacturers facing growing headwinds from US tariffs and yen weakness. Based on a TSE Prime Market sample, analysis showed nonmanufacturer FY net income forecasts revised to a 5% decline from 7%, partly owing to solid performance in entertainment (tariff insulation plays) and retail (inbound tourism). Tourism demand also supporting railway operators. Banks also a notable contributor, buoyed by higher rates. Marine transportation forecasts revised up mildly though remains in deep contraction due to tariff effects. In contrast, manufacturing profits projected to fall a sharper 11%, downgraded from an 8% slide. Automakers downgraded guidance to a 39% drop from 36% on higher tariff costs. Aggregate net profits estimated to decline 7%, little changed from an 8% contraction. Risk factors still concentrated in US growth outlook coupled with concerns of tariff-induced price hikes adversely impacting demand.

    • Notable Gainers:

      • +7.4% 780.HK (Tongcheng Travel Holdings): reports Q2 earnings; adjusted net income CNY775.1M vs FactSet CNY746.3M

      • +4.8% 4568.JP (Daiichi Sankyo): ifinatamab deruxtecan granted Breakthrough Therapy Designation by US FDA for treatment of adult patients with extensive-stage small cell lung cancer

      • +1.6% BHP.AU (BHP Group): reports FY results; underlying EBITDA $25.98B vs FactSet $25.93B

    • Notable Decliners:

      • -8.0% 052690.KS (KEPCO Engineering & Construction): South Korean nuclear power sector trading lower on report that KHNP have signed unequal contract with US Westinghouse for Czech nuclear plant deal

      • -4.0% 9984.JP (SoftBank Group): Intel and SoftBank Group enter into $2B definitive securities purchase agreement at $23/share

      • -2.5% 2799.HK (China CITIC Financial Asset Management Co.): guides H1 net income attributable CNY6.0-6.2M, +12.5-16.3% y/y

      • -1.6% 1357.HK (Meitu Inc): reports H1 earnings; revenue CNY1.82B vs FactSet CNY2.02B [1 est]

      • -0.4% 7532.JP (Pan Pacific International Holdings): reports FY results; operating income ¥162.30B vs FactSet ¥160.20B

  • Data:

    • Economic:

      • Australia August

        • Westpac-MI consumer sentiment 98.5 versus 93.1 in prior month

      • New Zealand Q2

        • PPI Input +0.6% versus +2.9% in prior quarter

        • PPI Output +0.6% versus +2.1% in prior quarter

    • Markets:

      • Nikkei: (168.02) or (0.38%) to 43546.29

      • Hang Seng: (53.95) or (0.21%) to 25122.90

      • Shanghai Composite: (0.74) or (0.02%) to 3727.29

      • Shenzhen Composite: 2.58 or +0.11% to 2343.74

      • ASX200: (63.10) or (0.70%) to 8896.20

      • KOSPI: (25.72) or (0.81%) to 3151.56

      • SENSEX: 402.32 or +0.50% to 81676.07

    • Currencies:

      • $-¥: (0.15) or (0.10%) to 147.7320

      • $-KRW: +0.20 or +0.01% to 1389.1000

      • A$-$: (0.00) or (0.16%) to 0.6481

      • $-INR: (0.20) or (0.23%) to 87.1106

      • $-CNY: (0.00) or (0.05%) to 7.1815

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
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