Apr 03 ,2026
Synopsis:
Asian equities mixed Friday while many markets closed for Good Friday holiday. Korea jumped after steep losses in prior session; Japan also advanced while both posted losses for the week. Mainland China extended declines with more losses in blue chips. US futures slightly lower ahead of March NFP release. Treasury yields little changed. JGB yields higher with 10Y hitting highest in 27 years and 2Y at level not seen since May 1995. Dollar pared early gains against yen while yuan and won advanced. Bitcoin drifting higher.
Relatively light trading session in Asia with some improvement in risk appetite spilled over into regional equities from overnight in US that saw Nasdaq and S&P 500 reverse opening losses to eke out small gains. Traders also digesting reports that Iran drafting proposal with Oman to monitor but not restrict ship traffic through Strait of Hormuz. Meanwhile Trump vowed to hit more Iranian infrastructure, mentioning its bridges and electric power plants. Iran and its allies have also continued to strike back at targets around Gulf with a refinery owned by Kuwait Petroleum Corporation hit by drones.
In regional developments, Japan Finance Minister Katayama said Tokyo stands ready to act against speculative moves in forex markets amid heightened volatility as yen nears 160 per dollar mark. BOJ's Nakamura said central bank will keep raising interest rates if its economic forecasts hold, reinforcing tightening bias. Japan final services PMI saw weakest growth in three months in March as business confidence down to lowest since pandemic. China RatingDog services PMI also showed services activity expanded at weaker pace last month, pointing to lackluster consumer demand after lift from long LNY holiday in February. South Korea and France agreed to work together to help reopen Strait of Hormuz as President Macron visits Seoul.
Microsoft (MSFT) to invest $10B in Japan through next four years, will work with SoftBank (9984.JP) and Sakura Internet (3778.JP) to build domestic data infrastructure network for AI. Osaka Gas (9532.JP) considering investing in or operating up to five gas-fired power plants in US.
Digest:
Notable Gainers:
+21.4% 092790.KS (Nexteel Co.): acquires patent in US for high-strength steel pipes
+16.9% 5423.JP (Tokyo Steel Manufacturing): Oasis Management discloses 6.25% stake in Tokyo Steel
+7.8% 063080.KS (Com2uS Holdings): report of Korea Investment & Securities to acquire stake in Coinone; Com2uS is the second-largest shareholder of Coinone
+6.6% 6753.JP (Sharp Corp): credit rating upgraded at R&I and S&P
+4.6% 5631.JP (The Japan Steel Works): report of defense-related equipment sales to reach ¥90B for FY29
+2.9% 6501.JP (Hitachi): to acquire Clever Devices for an undisclosed sum
Notable Decliners:
-13.5% 009420.KS (HANALL BIOPHARMA): failure in Phase 3 study results for batoclimab in Thyroid Eye Disease
-8.9% 034230.KS (Paradise Co.): reports March casino revenue KRW49.50B vs year-ago KRW81.92B
Data:
Economic:
Japan
March final services PMI 53.4 vs flash 52.8 and 53.8 in prior month (09:30 JST)
Composite PMI 53.0 vs flash 52.5 and 53.9 in prior month
China
March RatingDog Services PMI 52.1 vs consensus 53.7 and 56.7 in prior month
RatingDog Composite PMI 51.5 vs 55.4 in prior month
Markets:
Nikkei: 660.22 or +1.26% to 53123.49
Shanghai Composite: (39.19) or (1.00%) to 3880.10
Shenzhen Composite: (37.82) or (1.49%) to 2498.44
KOSPI: 143.25 or +2.74% to 5377.30
Currencies:
$-¥: +0.01 or +0.01% to 159.6020
$-KRW: (2.72) or (0.18%) to 1507.5210
A$-$: +0.00 or +0.12% to 0.6907
$-INR: (0.35) or (0.38%) to 92.6403
$-CNY: (0.01) or (0.11%) to 6.8779
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.
Please refer to "Terms Of Use".
DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE