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StreetAccount Summary - Asian Market Recap: Nikkei +1.84%, Hang Seng +0.55%, Shanghai Composite +0.51% as of 04:10 ET

Apr 10 ,2026

• Synopsis:

  • Asia equities rallied Friday to cap a positive if at times volatile week. Strongest gains seen in the tech-leaning benchmarks of the Nikkei 225, Kospi and Taiex while Shenzhen led in China. Hong Kong and Shanghai also finished positively and there were gains for Southeast Asia and India. Australia and New Zealand closed slightly lower. For the week, technology-orientated benchmarks and stocks topped the leader board with outsized gains in South Korea, Taiwan and Japan. Other national benchmarks were also higher. For Friday, US futures slightly lower for now, European bourses opened slightly higher. US dollar unchanged, Asia currencies mixed. Treasury and JGB yields higher across tenors. Crude marginally higher but steady all day. Precious metals off overnight highs. Base metals higher. Cryptocurrencies also higher.

  • Asia markets took their cue from the positive finish on Wall Street overnight as traders viewed the ceasefire optimistically and began to look beyond the war. Permanent peace talks are due to begin in Pakistan this weekend after Israel said it would suspend attacks on Lebanon and begin its own peace talks with Beirut and, while President Trump threatened Iran over it charging fees to use the Strait of Hormuz, he also said he was optimistic over coming to a deal with Tehran. Yet commodity prices still reflect riskier parts of the market remain concerned with oil hovering just below $100/bl and the dollar trading in a tight and relatively elevated range for a second day.

  • In regional developments, the Bank of Korea held its base repo rate unchanged at 2.5%, joining the RBI and RBNZ in keeping rates steady this week, saying the oil price shock has put downward risks on growth, and triggered upward risks to inflation. Separately, South Korea's parliament agreed on a KRW26.2T extra budget to mitigate the fallout from the war. China March consumer inflation rose 1.0%, missing expectations and slowing from February's reading; producer price inflation rose for the first time in 41 months but economists warned it could be temporary. Japan's March CGPI rose above expectations largely on yen weakness.

  • 7-Eleven's owner Seven & i (3382.JP) has postponed its US listing until fiscal-year 2027 at the earliest following the unit's poor recent performance. Huatai Securities (6886.HK) is considering expanding its securities business into Japan, according to press reports. Fast Retailing (9983.JPP) increased its full-year guidance after quarterly earnings beat expectations. TSMC (2330.TT) posted a 35% jump in Q1 revenue, beating estimates and calming nerves over a dip in AI demand caused by the Iran war disruption. Tata Consultancy Services (532540.IN) said new AI models and tools were not hurting business but analysts warned over growth.

• Digest:

  • Middle East headline volatility continues:

    • Israeli Prime Minister Netanyahu in a video statement said he authorized direct negotiations with Lebanon "as soon as possible" aimed at disarming Hezbollah militants and establishing relations since they have remained technically at war since Israel was established in 1948 (AP).

    • However, also stressed there was no ceasefire and strikes against Hezbollah will continue until security is restored in northern Israel.

    • In an interview with NBC, President Trump said he was "very optimistic" a peace deal with Iran was within reach. Added Iran is agreeing to all necessary conditions. Reiterated warning that it will be "very painful" if they don't make a deal.

    • Also confirmed a phone call with Netanhayu took place Wednesday and asked to pull back on Lebanon strikes to help ensure success of upcoming negotiations. Article noted language used was a "scaling back," consistent with similar rhetoric used by VP Vance, indicating a de-escalation rather than a cessation.

    • Amid ongoing contention as to whether Lebanon is covered by the ceasefire agreement, story noted European leaders pleaded for Lebanon to be included.

    • Reuters cited latest tracking data showing just seven ships pass through the strait in the past 24 hours vs the normal volume of about 140. With carriers remaining cautious, the two-week ceasefire won't be enough to clear the backlog. Concerns exacerbated by guidance from IRGC for vessels to avoid naval mines placed in established shipping lanes.

    • In latest comments on Truth Social, Trump acknowledged reports that Iran is tolling tankers going through the Strait and warned Iran had better stop if this is true. Later criticized Iran's management of oil flows through the Strait, stressing this is in violation of their agreement.

  • China CPI misses expectations while PPI turns positive after 41 months:

    • China headline CPI rose 1.0% y/y in March, missing consensus 1.2% and slowing from 1.3% rise in February, which was then a more than three-year-high. Goods increased 1.3%, up from 1.1% rise in prior month and services growth slowed to 0.8% from 1.6% in February. Core inflation slowed to 1.1% from February's 1.8%. Prices fell 0.7 % m/m, compared with consensus of a 0.2% drop and 1.0% growth in February. NBS said slower CPI growth largely due to seasonal dedcline in consumer demand following LNY holiday with much slower rises in travel-related services. Rises in food prices also slowed while pork and egg prices saw larger declines. Notably PPI rose 0.5% y/y in March, first growth since Sep-2022, ending longest deflationary streak in decades. NBS attributed increase in producer prices to factors including a rapid surge in global commodities prices as well as improved supply-demand balance in certain domestic industries. Bloomberg noted although China is considered in better position to weather oil shocks than many other countries due to its large investments in renewables and efforts to diversify energy supplies, disruption caused by war in Iran still driving up costs for producers. Recall China has already raised gasoline and diesel prices three times by roughly a quarter since end-February.

  • Bank of Korea leaves base rate unchanged, lowers GDP growth expectations:

    • Bank of Korea kept benchmark 7D repo unchanged at 2.5% Friday amid middle east uncertainty, warning GDP growth likely to decelerate from previous 2.0% forecast. Bank now expects headline inflation to rise to mid- to upper 2% range on oil price spike, expects core inflation to be 'somewhat' higher than previous 2.1% forecast. Bank said there is 'high degree of uncertainty' around middle east developments that lead to growth downside risks, heightened volatility in financial, forex markets. Said decision not a postponement of judgement, reflects need to watch developments. Noted domestic economy improved since previous meeting on strong exports, consumption recovery, increase in employment however sentiment since turned with production constraints showing up in certain sectors. Bank also noted house price increases moderated but more assessment of stability needed. Warned MPC will conduct monetary policy to stabilize CPI at target level. Incoming Governor Shin Hyun-song will preside over next meeting in May; incumbent Rhee not expected to give clear indication of bank's next move in press conference later Friday.

  • Japan CGPI elevated by weaker yen, petroleum:

    • CGPI rose 2.6% y/y in March, above consensus 2.3%. Follows revised 2.1% in the previous month, marking the fastest in four months. Yen-denominated import prices accelerated to 7.9%, strongest since Jul-24 though still a fraction of the pace seen during the post-Covid rebound. USD/JPY rose 2.3% y/y during the period, amplifying a more moderate 2.2% in underlying contract currency prices. Petroleum featured notably among the drivers to headline CGPI, accounting for just over a half of the sequential 0.8% rise. Second-biggest contributor was hydrocarbon chemicals benzene, xylene and styrene monomer. Contract-currency import prices rose 1.5% m/m, almost entirely explained by petroleum products (crude, jet fuel oil, heavy oil). Export prices so far notably stronger than imports in year ago terms; rise in contract currency basis also largely a function of petroleum and derivative products. Overall, results so far affirming concerns that yen weakness stands to compound higher oil prices, adding to inflation risk. Central banks so far monitoring developments as they assess whether current conditions will be temporary and the extent to which inflation expectations are impacted. This will be weighed against risks to growth momentum. Recall yesterday's official consumer confidence index deteriorated notably amid the surge in fuel prices. Inflation expectations rebounded sharply back toward record levels, albeit this is not closely tracked by BOJ, which focuses on their own measures.

  • TSMC Q1 revenue jumps and beats market estimates:

    • TSMC (2330.TT) posted 35% increase in Q1 revenue to NT$1.134T ($35.7B), beating FactSet estimate of NT$1.117T but inline with guidance of $34.6-35.8B given in January. Had been some concerns Iran conflict would dent AI-related demand amid rising energy costs, supply chain disruptions however analysts had raised forecast for Q2 revenue during March by 2.3%, according to Reuters data, saying constrained capacity for advanced chip production would boost earnings, offset any conflict-related effects. Analysts also said revenue beat means company likely to surpass its own guidance midpoint while appreciation of Taiwan dollar will provide additional tailwind (Bloomberg). Management call focus likely to center on any margin pressure from increased input costs, any comments over long-term demand. Full Q1 results will be published on 16-Apr. Stock rose more than 2.3% in Taipei Friday in region-wide tech rally, and before Q1 sales numbers released.

  • Notable Gainers:

    • +21.4% 6323.JP (Rorze Corp): reports FY results

    • +12.0% 9983.JP (FAST RETAILING): reports H1 results, raises FY guidance

    • +8.3% 6030.HK (CITIC Securities): reports preliminary Q1 results

    • +2.4% 6239.TT (Powertech Technology): reports March revenue NT$7.37B, +35.2% y/y

    • +1.2% 9501.JP (Tokyo Electric Power Co. Holdings): capital raising reportedly attracts Blackstone, Apollo, SoftBank; may raise over ¥1T ($6.29B)

  • Notable Decliners:

    • -14.5% 005810.KS (POONGSAN HOLDINGS): Hanwha Aerospace suspends plans to buy Poongsan's defense division, Poongsan is not pursuing any initiatives to sell ammunition business

    • -4.6% 6969.HK (Smoore International Holdings): reports Q1 profit after tax CNY262.5M, +37% vs year-ago CNY192.2M

    • -3.3% 3382.JP (Seven & I Holdings): reports Q4 results; revises target timing for 7-Eleven Inc. IPO to FY27 at the earliest

    • -1.8% 7649.JP (Sugi Holdings): reports FY results; to acquire remaining 51% stake in Seki Yakuhin; formulates mid-term management plan

    • -1.4% 2502.JP (Asahi Group Holdings): reports March beer-type beverage sales (23%) y/y

• Data:

  • Economic:

    • China March

      • CPI +1.0% y/y vs consensus +1.2% and +1.3% in prior month

        • PPI +0.5% y/y vs consensus +0.4% and (0.9%) in prior month

    • Japan March

      • CGPI +2.6% y/y vs consensus +2.3% and revised +2.1% in prior month

      • Bank lending +4.8% y/y vs +4.5% in prior month

  • Markets:

    • Nikkei: 1,028.79 or +1.84% to 56924.11

    • Hang Seng: 141.14 or +0.55% to 25893.54

    • Shanghai Composite: 20.05 or +0.51% to 3986.22

    • Shenzhen Composite: 40.29 or +1.54% to 2652.30

    • ASX200: (12.60) or (0.14%) to 8960.60

    • KOSPI: 80.86 or +1.40% to 5858.87

    • SENSEX: 760.20 or +0.99% to 77391.84

  • Currencies:

    • $-¥: +0.31 or +0.19% to 159.2760

    • $-KRW: +10.19 or +0.69% to 1484.7400

    • A$-$: (0.00) or (0.33%) to 0.7060

    • $-INR: +0.18 or +0.20% to 92.6463

    • $-CNY: +0.00 or +0.01% to 6.8327