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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Recap: Nikkei (0.42%), Hang Seng +1.19%, Shanghai Composite (0.51%) as of 04:10 ET

Sep 09 ,2025

  • Synopsis:

    • Asian equities mixed Tuesday. Japan stocks ended lower after Nikkei 225 rose past 44,000 mark for first time earlier in the session. Greater China markets mixed with Hang Seng Index hitting near four-year high as Alibaba (9988.HK) jumped 3.4% while mainland indexes lower. Taiex touched all-time high. Kospi also sharply higher on big gains in tech firms. Australia was lower. Indonesia was worst performer in southeast Asia following political turmoil. India is trading higher. US futures were higher. Treasury yields were two to three bp higher across tenors. Yen stronger against dollar. Crude adding to earlier gain with gold topping $3,640 an ounce. Bitcoin gaining.

    • Markets grappling with political developments across Asia. Attention has turned to Japan PM Ishiba's successor with LDP set for leadership vote on 4-Oct. Press highlighted economic challenges that will confront next leader with inflation an immediate concern. Indonesia equities and rupiah tumbled following abrupt removal of country's longest-serving finance minister Sri Mulyani Indrawati, sparking concerns about Jakarta's fiscal discipline. Thailand's Supreme Court ruled ex-PM Thaksin Shinawatra must serve one year in jail to complete a prior conviction, only days after outster of his daughter Paetongtarn as PM for ethical misconduct and Thai parliament picked Anutin Charnvirakul, a political rival, as country's new leader. Thai benchmark rose for third straight session as investors welcomed Anutin's cabinet appointments, signaling focus on economic repair.

    • Elsewhere Australian consumer confidence slipped in September following upside inflation surprise while business conditions picked up in August as firms reported better profits and employment. South Korea delegation in US for talks to work out details of trade deal struck in July, with talks expected to cover investment package proposed by Seoul that includes combined $350B in US in shipbuilding, semiconductor, battery etc. Two sides will also address non-tariff measures. RBI reduced purchases of US Treasuries and ramped up gold buying as New Delhi diversifies its reserves even before Trump's 50% tariffs on India.

    • ANZ Group (ANZ.AU) to cut 3,500 jobs by Sep-2026 as part of wide-ranging restructuring under new CEO. Xpeng (9868.HK) plans to launch mass-market Mona brand in overseas market next year. CEO said company would be open to acquiring other EV companies. Dahon Technology (2543.HK), China's top maker of folding bikes, made strong debut in Hong Kong with shares jumping 15%.

  • Digest:

    • Japan LDP sets up leadership vote for 4-Oct:

      • NHK reported LDP presidential election committee set a date for the next leadership vote on 4-Oct with campaigning to commence 22-Sep. Voting format will be 'full spec' that grants equal number of votes between Diet members and regional chapters at 295 each. Outcome was consistent with Nikkei's preview. Follows some earlier attention on the format, where a 'simple' method with a lower number of prefectural votes was under consideration in order to speed up the process. Yet, this would have only saved about a week and there were internal calls for a comprehensive vote to reflect the views of all party members. While the simple method would have also been advantageous to well-known candidates, all names said to be in preparation are big wigs and the line-up is shaping up to look similar to last year's contest (minus Ishiba who declared he would not run) -- Agriculture Minister Koizumi, former economic security minister Takaichi, Chief Cabinet Secretary Hayashi, Finance Minister Kato, former Secretary-General Motegi. Limbo period already impacting economic policy as Prime Minister Ishiba, before announcing his resignation, called for the formulation of a stimulus package to cushion inflation and tariff effects. Legislative process will be suspended until a new PM is appointed. Measures require opposition party support for an FY25 supplementary budget bill for funding.

    • South Korea holding trade talks with US, differences remain over investment pledge:

      • Yonhap sources said South Korean trade delegation currently in US for talks with USTR Greer and Commerce Secretary Lutnick to work out details of trade deal struck in July. Two sides working to resolve differences over details of proposed investments, including composition of funding and profit-sharing agreements. Non-tariff measures involving agriculture and digital sectors also under discussion. Recall Politico noted last week Trump's threat to retaliate against countries imposing digital taxes was really aimed at South Korea. US side reportedly using promise of lowered auto tariffs as leverage to force South Korea into acting first on investment. South Korea's finance minister said Monday would use US-Japan trade deal as reference point, but that country would not accept same terms as Tokyo did on its $550B investment pledge (Reuters). There are differences over composition of funding with Seoul adamant investment will mostly comprise loans and credit guarantees, while US is insisting on direct investment. Meanwhile, fallout continues from US detention of Korean workers at Hyundai plant in Georgia with press discussions focused on implications for investment risk (Nikkei).

    • US proposes annual China chip supply permits for Samsung, Hynix:

      • Bloomberg sources indicated US proposing annual approvals for exports of chipmaking supplies to Samsung (005930.KS) and SK Hynix's (000660.KS) factories in China, a compromise aimed at preventing disruptions to the global electronics industry after Trump officials revoked VEU waivers days after a US-South Korea trade agreement was reached. In contrast to the VEU system that granted perpetual approval to ship estimated quantities of supplies based on up-front security and monitoring commitments to factories in China, Commerce Department last week floated a "site license" idea requiring the companies to seek Washington's approval for a year's worth of restricted gear, parts and materials at a time, spelled out in exact quantities. Washington's draft proposal left South Korean industry and government officials both relieved that a path forward exists and frustrated by the extra burden. Annual site licenses would at least provide more predictability than if companies had to apply for new US approvals on a shipment-by-shipment basis, which US officials said would amount to additional 1,000 permits each year.

    • Indonesia finance minister's departure alarms markets, new Thailand PM begins cabinet appointments:

      • Bloomberg discussed market reverberations from the sudden removal of Indonesia finance minister Sri Mulyani Indrawati Monday evening. Announcement was preceded by rumors that weighed on markets, concerned about the risk of a degradation in fiscal discipline and credibility. Surprise was compounded after Indrawati publicly came out to dispel speculation. Indrawati was viewed as a key stabilizing figure, serving as finance minister under three presidents for the bulk of the past 20 years. Despite a strong international reputation, article noted domestic support was more mixed, taking blame for tight fiscal policy at odds with President Prabowo Subianto's easing stance. Successor is a lesser known Purbaya Yudhi Sadewa, who promoted himself as pro-markets while pledging to preserve fiscal health. Separately, Reuters reported Thailand Prime Minister Anutin Charnvirakul signaled through his first cabinet appointments an intention to repair a struggling economy and calm simmering border tensions with Cambodia. Elected on Friday, Anutin has only four months in office before calling an election as per an agreement with the People's Party, the largest block in parliament. Anutin on Saturday named veteran economist with deep government experience, Ekniti Nitithanprapas, to run the finance ministry and a well-respected former diplomat to lead the foreign ministry. Analysts suggested the new administration may push short-term stimulus measures, including potentially re-packaging projects initiated by the outgoing Pheu Thai government.

    • China property stocks extend gains on Shenzhen policy support:

      • China property stocks jumped in Hong Kong with Hang Seng Mainland Properties Index 3.3% higher on Tuesday morning. Bloomberg noted its gauge of developor stocks surged as much as 5.1%, biggest single-day gain in nearly two months, led by Country Garden (2007.HK) and Shimao Group (813.HK), up by 27.5% and 19.7% respectively. Sector's stock surge extended gains from previous session following Shenzhen joined other top-tier cities in relaxing home-purchase restrictions to boost demand last Friday. Recall the tech hub will remove home-buying limits in six urban districts for local families and those without local household registration who have paid social security or individual income tax for at least one year. Banks will also no longer differentiate between first and second home purchases when pricing mortgage rates (Bloomberg). Local realtor association said second-hand home sales surged 37% w/w during first weekend after new policy in place (EastMoney). Analysts said market is betting easing would spur greater sales in top-tier cities in coming months and authorities' pledge to accelerate work in urban areas could help clear housing backlogs.

    • Notable Gainers:

      • +8% 2308.TT (Delta Electronics): reports August revenue NT$47.86B, +26.7% y/y

      • +6.4% 051910.KS (LG Chem): reportedly planning to raise up to KRW3T via price return swap backed by LG Energy Solution stake

      • +1% 207940.KS (Samsung Biologics): signs KRW1.800T production contract with US pharmaceutical company

      • +0.8% 6758.JP (Sony): obtains TSE approval to list Sony Financial Group on TSE Prime Market

    • Notable Decliners:

      • -10.3% 688981.CH (SMIC): to issue A shares at CNY74.2/share in proposed all-stock acquisition of remaining 49% stake in SMNC

      • -5.5% 7762.JP (Citizen Watch): to be removed from Nikkei 225, effective 1-Oct

      • -2.6% 603799.CH (Zhejiang Huayou Cobalt): to transfer 25% interest in LG-HY BCM to Toyota Tsusho for $121.2M (CNY861.3M)

      • -1.3% 2601.HK (China Pacific Insurance (Group)): reportedly looking to issue convertible bonds of up to $2B (CNY14.26B)

      • -0.2% ANZ.AU (ANZ Group): launches business simplification changes with 3.5K employees to depart by Sep-26; expects H2 restructuring charge of ~(A$560M) before tax

  • Data:

    • Economic:

      • Australia

        • August NAB business confidence +4 vs revised +8 in July

          • Business conditions +7 vs +5 in July

        • September Westpac-MI consumer sentiment index 95.4 vs 98.5 in August

    • Markets:

      • Nikkei: (184.52) or (0.42%) to 43459.29

      • Hang Seng: 304.22 or +1.19% to 25938.13

      • Shanghai Composite: (19.55) or (0.51%) to 3807.29

      • Shenzhen Composite: (26.84) or (1.11%) to 2400.55

      • ASX200: (46.10) or (0.52%) to 8803.50

      • KOSPI: 40.46 or +1.26% to 3260.05

      • SENSEX: 286.95 or +0.36% to 81074.24

    • Currencies:

      • $-¥: (0.23) or (0.15%) to 147.2930

      • $-KRW: +2.68 or +0.19% to 1387.9400

      • A$-$: +0.00 or +0.20% to 0.6604

      • $-INR: +0.16 or +0.18% to 88.1379

      • $-CNY: (0.00) or (0.07%) to 7.1252

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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