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StreetAccount Summary - Asian Market Recap: Nikkei +1.43%, Hang Seng (0.24%), Shanghai Composite +0.25% as of 04:10 ET

Mar 11 ,2026

• Synopsis:

  • Asia equities ended mostly higher Wednesday although most finished away from their peaks. Sharp gains from the bell in Japan, South Korea and Taiwan while Shenzhen led in Greater China. Modest advances in Australia and China's main boards; Southeast Asia also mostly higher ahead. Hang Seng finished lower as several of its AI-related tech stocks sold off, India sharply lower, Singapore also down. US futures holding on to small gains, Europe opened with declines. US dollar retreating further, notable gains for the AUD and NZD; yuan also strengthening, yuan flat, rupee at record low. Treasury yields higher across tenors but JGBs mixed. Crude contracts edging higher despite IEA reserve release plan with WTI at $85 and Brent $89 per barrel. Precious metals lower. Base metals mixed, Cryptocurrencies directionless.

  • Asia equities continuing their recovery Wednesday following strong post-market gains at Oracle, and few fresh developments from the Middle East overnight. Nevertheless, ramifications from the oil price surge still making their way through markets: the yen remains weak, India stocks selling off sharply as energy stockpiles lead to rationing, and precious metals hovering not far from record highs. Crude prices a little higher over the day despite reports the IEA was planning a record reserves release to remove stress from the oil market, and conflicting reports from the Strait of Hormuz over escort ships and attacks on ships. Dwindling supplies impacting regional markets: India has effectively rationed LNG supplies to industry while South Korea's government said it was ready to deploy 'all policy tools' including a supplementary budget to support the economy and markets, while several authorities moved to secure their ports.

  • Few other regional catalysts to change the broader market narrative. Several Hong Kong-listed AI tech stocks fell after Beijing barred its banks and state agencies from using OpenClaw technology. More economists said they expected the RBA to hike rates next week, sending the AUD higher to near four-year highs. South Korea exports for the first ten days of March were up more than 55% y/y. Japan February producer prices rose 2.0%, below consensus and the lowest annual rise in almost two years. Malaysia unemployment sank to its lowest since 2014 with participation rate at a record high.

  • NIO (9866.HK) forecasted a surge of up to 96% in new deliveries after posting first quarterly profit as the company defies the EV market slump. Cosco Shipping (1919.HK) suspended its services at its Panama Balboa port following Beijing's warning of a 'heavy price' for the country's forced takeover of CK Hutchison's (1.HK) facilities. Samsung Electronics (005930.KS) and SK Inc (034730.KS) are to cancel $14B in treasury shares to improve corporate governance and improve shareholder returns. SK Hynix (000660.KS) is to partner with Applied Materials and Micron to develop next generation AI chips, according to a Reuters report. Qantas (QAN.AU) raised fares on its international routes amid surging fuel costs; Air India said would add a fuel surcharge. IndiGo (InterGlobe Aviation, 539448.IN) CEO resigned with immediate effect after mass flight cancellations last month.

• Digest:

  • Oil swings following report IEA weighing record reserves release:

    • Oil futures experiencing downswing following media report IEA proposing largest ever release of oil reserves (Bloomberg). Release would surpass 182M barrels discharged in aftermath of Russia's invasion of Ukraine in 2022 (IEA members hold more than 1.2B barrels in publicly available reserves). Member nations expected to decide on proposal Wednesday. Follows FT report G7 nations were weighing record reserves releases. At one stage Tuesday, oil futures slid below $80 following (since deleted) X post by US Energy Secretary Wright that US navy escorted tanker through Strait of Hormuz, prompting White House to refute report. Subsequent rebound back tabbed to reports Iran began mining Hormuz, leading President Trump to warn of severe consequences. US military later said it eliminated 16 mine laying boats (Reuters). Comes as Hormuz tanker traffic remains ground to a halt and Gulf energy facilities continue to be hit, throttling production with Bloomberg sources saying UAE's largest refinery shut. Market pinning hope on quick resolution to conflict, though still no closer to ascertaining timeline for ending war. Tuesday saw heavy barrage of airstrikes and US vowed to continue until Iran decisively defeated. Tehran also rebuffing ceasefire notion while vowing to keep Hormuz closed.

  • BOJ rate hike expectations brought forward to April:

    • Nikkei QUICK BOJ Watcher survey found the mode forecast for the next BOJ rate hike was April, which attracted 11 out of 27 responses, marking a notable shift from July in the prior poll in January (now ranked third slightly behind June) and conforming to market pricing which had been more aggressive than economist consensus for some time. Yet, latest Reuters consensus remained little changed with a slight edge toward June. Both polls saw unanimous expectations for no policy change at the March 18-19 meeting amid thoughts that it was still too soon for another move as BOJ was still monitoring the impacts from the December hike. Notably, Middle East developments were mentioned as adding to near-term uncertainties, and while caution was elevated, this element was not perceived as an overwhelming reason to delay further policy normalization beyond this month. That said, Nikkei article contained a couple of anecdotal responses emphasizing a key assumption to the April scenario is that Middle East uncertainties clear up relatively quickly. Domestic signals have been broadly hawkish, noting the Summary of Opinions for the January meeting indicated numerous cautious views toward upside inflation risks. The first 2026 shunto wage hike tallies are slated for release on 23-Mar, shortly after the March meeting, while the March BOJ Tankan survey data will also be available by the April MPM. As a counterargument, Goldman Sachs is in the July camp as confirmation of the permeation of wage hikes among small firms and progress in wage cost passthrough won't be available until the July BOJ Sakura Report. With rate hike expectations brought forward, mode projection for the terminal rate was also raised to 1.50% (11 out of 27) from 1.25% in January.

  • RBA seen hiking interest rates again next week:

    • Expectations RBA will deliver second straight rate hike at Tuesday's meeting have firmed with futures pricing in 77% probability (Financial Review). Westpac and NAB became the latest banks to predict RBA will tighten next week (Bloomberg). Economists pointed to elevated inflation and an economy running ahead of trend growth, leaving demand exceeding supply capacity. Citi also predicts a March rate hike, citing an expected transmission of oil prices through the economy. Rate hike bets firmed following hawkish remarks from RBA Deputy Governor Hauser on Tuesday that there would be a genuine debate next week whether to raise cash rate (Reuters, Bloomberg). Hauser pointed to further confirmation economy operating with limited spare capacity, adding higher inflation due to Iran conflict won't help. Prior to Hauser's remarks, odds of a March rate hike stood at 39%. His comments echo those of Governor Bullock a week ago, in which she said March policy meeting is live and that board will actively debate whether to act quicker with inflation at 3.8%. Policy-sensitive Australian 3Y yield has risen to 15-year high, contribution to Aussie dollar's appreciation to highest since mid-2022.

  • China to rein in OpenClaw use at government agencies and state banks over security risks:

    • Bloomberg citing people with knowledge reported Chinese authorities have ordered government agencies and state-owned enterprises, including largest banks, against installing OpenClaw software on office devices for security reasons. Some of those who had already installed related apps were required to notify their superiors for security checks and possible removal. Sources added request stopped short of an outright ban on OpenClaw, saying only that prior approval is needed before use. Came as the open-source AI assistant has become instant hit in China's tech community with slew of big tech, from Tencent (700.HK) to JD.com (9618.HK) rushing to launch OpenClaw-compatible apps and several local government agencies have doled out subsidies for companies that use the platform. Article said apart from security risks including assess to private data and exposing computers to external attack, Beijing is also concerned about loss of control over this technology.

  • Seoul will use 'all policy tools' to counter impact of Iran conflict:

    • South Korea's finance minister Koo Yun Cheol said Seoul will implement 'all available policy measures' and considering supplementary budget to cushion economy from impact of Iran conflict (Yonhap). Authorities to ban hoarding, price gouging of petroleum products with zero-tolerance toward any collusion by oil refiners. Will introduce price subsidies on fuel used by freight trucks, buses, taxis. Koo also said government will respond quickly if economy shows signs of instability. Financial markets to be supported by expansion of already-operating stabilization program and government to coordinate measures with Bank of Korea to manage emergency buybacks, purchases of sovereign bonds. Tuesday, Yonhap reported President Lee signaled government mulling supplementary budget to support small business, vulnerable companies. Bloomberg noted around 70% of South Korea's crude imports pass through Strait of Hormuz although existing stockpiles amount to around 208 days of consumption.

  • Notable Gainers:

    • +13% 9866.HK (NIO Inc): reports Q4 adjusted EPADS CNY0.29 vs FactSet (CNY0.04)

    • +10% 2357.TT (ASUSTek Computer): reports FY EPS NT$59.99 vs FactSet NT$53.78

    • +8.9% 7974.JP (Nintendo): releases Pokemon Pokopia on Switch 2 worldwide

    • +4.0% 293.HK (Cathay Pacific Airways): reports FY net income attributable HK$10.83B vs StreetAccount HK$9.05B

    • +3.5% 004170.KS (Shinsegae): reports February standalone revenue KRW188.58B, +30.9% y/y

    • +2.4% 6181.HK (Laopu Gold): guides FY non-IFRS adjusted net income CNY5.00-5.10B, +233-240% y/y

    • +2.4% 034730.KS (SK): to cancel 14.7M treasury shares; total outstanding shares 72.5M

    • +1.0% 1211.HK (BYD Co.): reportedly seeking entry into Formula 1 and endurance racing

  • Notable Decliners:

    • -9.2% 3064.JP (MonotaRO): reports February sales ¥28.45B, +17.3% vs year-ago ¥24.26B

    • -4.3% 036570.KS (NCsoft): to acquire 70% stake in game development and reward app JustPlay for KRW301.61B

    • -4.2% J36.SP (Jardine Matheson Holdings): reports FY results; revenue $34.22B vs FactSet $34.96B

    • -3.6% 9979.HK (Greentown Management Holdings): guides FY net income attributable to decline 40-50% y/y, implying CNY400.5-480.6M vs FactSet CNY482.1M

    • -1.1% 7201.JP (Nissan Motor): CFO Jérémie Papin to step down for personal reasons; chair Yasushi Kimura to step down

    • -0.8% 539448.IN (InterGlobe Aviation): CEO Pieter Elbers resigns due to personal reasons

• Data:

  • Economic:

    • Japan February

      • CGPI y/y +2% versus +2.3% in prior month

  • Markets:

    • Nikkei: 776.98 or +1.43% to 55025.37

    • Hang Seng: (61.14) or (0.24%) to 25898.76

    • Shanghai Composite: 10.29 or +0.25% to 4133.43

    • Shenzhen Composite: 14.20 or +0.52% to 2744.02

    • ASX200: 50.90 or +0.59% to 8743.50

    • KOSPI: 77.36 or +1.40% to 5609.95

    • SENSEX: (1,030.69) or (1.32%) to 77175.29

  • Currencies:

    • $-¥: +0.20 or +0.13% to 158.2480

    • $-KRW: (1.90) or (0.13%) to 1471.3700

    • A$-$: +0.00 or +0.63% to 0.7164

    • $-INR: (0.00) or (0.00%) to 91.9700

    • $-CNY: (0.01) or (0.15%) to 6.8670