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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Recap: Nikkei +2.43%, Hang Seng +0.82%, Shanghai Composite +0.95% as of 04:10 ET

Apr 14 ,2026

  • Synopsis:

    • Asia equities ended higher Tuesday as sentiment over a conclusion to the Iran conflict improved further. Technology-leaning benchmarks of the Nikkei 225, Kospi and Taiex performed best with more muted advances elsewhere including on the Topix, Hang Seng and ASX. Singapore gained again as MAS tightened policy. India and Thailand closed for market holidays. US futures positive, Europe seeing solid gains at the open. US dollar dipping in late afternoon trade, yen and rupee notably stronger, quiet elsewhere. Treasuries mixed, JGB yields lower across tenors following a successful 20Y auction this morning. Brent crude prices down around 1% and WTI a little more but both hovering just below $100/bl. Precious metals higher, base metals mixed. Cryptocurrencies off overnight highs.

    • Asia equities comfortably recovered lost ground from Monday with most major benchmarks now higher week to date. Singapore's STI, Taiwan's Taiex, and Shenzhen's main benchmark also now positive for the period since the outbreak of the Iran conflict from a mix of safe-haven searching and return to pre-war AI catalysts. Overnight, broader sentiment improved on reports Washington and Tehran were seeking a path to a second round of permanent peace talks despite US resolving to begin a blockade of the Strait of Hormuz from today. Tuesday Asia time, AP reported Pakistan had proposed fresh US-Iran talks with one of it sources hinting diplomatic processes were ongoing.

    • In regional developments, Singapore's monetary authority (MAS) tightened monetary policy by steepening slope of the Singapore dollar real exchange rate (S$NEER) 'slightly' and becoming the first Asia central bank to hike rates in direct response to Gulf-related inflation. Singapore's Q1 GDP grew 4.6% y/y but missed forecasts and contracted on q/q basis as its volatile biomedical sector slowed. China's March exports rose 2.5% y/y, well short of FactSet consensus 8.0% partly because of the later-than-usual LNY holidays, and amid another surge in imports. China credit data also disappointed gaining on a m/m basis to CNY2.99T ($438B) but missed economists' forecasts of CNY3.4T. Australia business confidence fell to its lowest level since the pandemic and consumer sentiment to a 2.5-year low amid fuel price increases and rate hikes.

    • Westpac (WBC.AU) said it had raised its credit provisions to build a bigger buffer from global upheavals. CATL (3750.HK) is considering a potential $5B share sale following its recent stock rally. China Evergrande's (EGRNF) founder had pled guilty in his fraud trial after he and the company was charged over embezzlement and corporate bribery. LS Electric (010120.KS) is said to have signed a KRW 170B deal with a large US tech firm, believed to be AWS, Amazon's cloud business subsidiary. Qantas (QAN.AU) said its fuel costs surged in March and will cut domestic capacity in the wake of the Iran conflict.

  • Digest:

    • US and Iran discussing holding second round of talks:

      • Bloomberg sources said US and Iran in discussions about holding second round of direct talks before expiration of ceasefire, either in Islamabad again or at different venue. Follows earlier Axios report that mediators are trying to bridge gap between US and Iranian demands. Key sticking point revolves around length of proposed moratorium on uranium enrichment after US proposed 20 years while NY Times sources said Iran countered with five-year moratorium. Fate of enriched uranium stockpiles the other main sticking point.

      • While weekend talks in Pakistan failed to produce agreement, officials left door open to resumption of talks provided the other eased off maximalist demands. Speaking on Fox News, VP Vance struck somewhat upbeat tone, saying US made a lot of progress and he anticipates Iran will make progress in opening Strait of Hormuz (Bloomberg). President Trump added Iran reached out to administration with intention of reaching agreement, and repeated his claim Iran will eventually agree to abandon its nuclear ambitions.

      • Diplomatic traction comes as US naval blockade went into effect on Monday (Reuters). Trump threatened to bomb Iranian fast attack boats that approach US ships and Iran vowed to retaliate against other ports in Persian Gulf, though thus far ceasefire holding up. Shipping activity has nonetheless receded with Bloomberg noting just four vessels transited Strait of Hormuz Monday after 19 sailed through on Sunday that were mostly tied to Iran, Pakistan and China.

    • China export growth slows in March while imports post strongest growth in 4.5 years:

      • Dollar-denominated exports rose 2.5% y/y in March, slowest since October, missing estimates 8.6% and sharply down from 21.8% surge in first two months of the year, as Chinese manufacturers grappled with rising energy costs and supply chain disruptions caused by war in Middle East. A high base effect could also be a drag as exporters rushed shipments last year to beat 2-Apr Liberation Day deadline. China's exports to ASEAN and EU, its top two trading partners, rose 6.9% and 8.6% respectively, much slower from nearly 30% growth to both regions in Jan-Feb. Shipments to US dropped 26.5%, deepening from 11% slide in first two months. Meanwhile China's imports surged 27.8%, marking strongest growth since Nov-21, far exceeding expectations of 11.2% growth and quickening from 19.8% in Jan-Feb. March's trade surplus fell to $51.13B, smallest in more than a year. Reuters noted March marks first real test of whether strong global demand for AI could offset disruptions caused by closure of Strait of Hormuz as China's exports started the year with outbound shipments far exceeding forecasts, powered by tech exports, while war in Iran clouds outlook for the trajectory as buyers' purchasing power hit by rising fuel and transport costs. Bloomberg pointed to challenges for economists to predict China's trade performances with standard deviation of estimates at highest in six years, amid several contradictory factors. Still economists see Chinese producers may gain ground again as buyers seek cheaper options and many have expected Iran war could drive higher demand for Chinese renewables products.

    • Singapore's monetary authority tightens policy, raises inflation forecasts:

      • Monetary Authority of Singapore tightened policy Tuesday, as widely expected, saying imported cost pressures set to intensify as Iran conflict disrupts global energy supplies. MAS steepened slope of Singapore dollar real exchange rate (S$NEER) 'slightly', kept width and midpoint unchanged. Becomes first Asia central bank to hike rates in direct response to inflation caused by conflict. Authority said was ready to 'curb excessive forex volatility' and analysts cited by Bloomberg noted this left door open for further tightening in July. MAS also hiked FY26 headline inflation forecast to 1.5% from 1.0%, core to 2.5% from 2.0%; said expects GDP growth to slow through year with 'considerable' risks around inflation, growth outlooks. Said disruption to energy supplies will exacerbate inflationary pressures, shortages of supplies could impact industrial production. Separate preliminary data from ministry trade and industry showed Singapore Q1 GDP grew 4.6% y/y versus FactSet consensus 4.9%; growth q/q contracted 0.3% as highly cyclical biomedical sector contracted by more than expected.

    • Australian consumer and business confidence slides amid Iran war concerns:

      • Westpac-MI Australian consumer sentiment index fell to 80.1 in April from 91.6 in March, largest monthly drop since pandemic. Surging fuel costs due to Iran war weighed heavily on respondents' assessment of family finances though near-term expectations for economy and family finances also deteriorated sharply amid uncertain prospects surrounding fuel supply. Concerns about higher interest rates added to cost-of-living concerns and weighed on purchasing intension for large household items. Survey also revealed pronounced fall in consumers' outlook for labor market (worst read on job expectations since Aug-2020).

      • Separately, NAB Australian business confidence fell to -29 in March from -1 in February, lowest since Apr-2020 and marking steepest monthly drop on record. There was markedly less pessimism on business conditions, which eased to +6 from +7. Weakness was concentered in industries where direct impact on costs was evident such as transport, construction and retail. Unsurprisingly, inflation pressures intensified with purchase cost growth more than doubling. Drop in profitability sub-index corresponded with negative turn in forward orders.

    • China navigates implications of US naval blockade:

      • China, being Iran's largest oil buyer, was seen most at risk from US naval blockade of ships entering and exiting Iranian ports through Strait of Hormuz. China's dependence on the Strait also encouraged skepticism whether full blockade will be fully enforced and there are signs blockade is being tested after China-linked tanker sanctioned by US, Rick Starry, sailed through the waterway (Bloomberg, Reuters). Rick Starry medium-sized tanker carrying ~250K barrels of methanol, though unclear whether it was carrying cargo at the time or docked at an Iranian port.

      • Another Bloomberg article cited Kpler-compiled data showing some 38M barrels of Iranian crude already on ships in Asia, up from 23M in late March. More than third anchored off China's coast, providing degree of cushion for China's teapot refiners, which hold estimated 2.5 months of inventory. US sanction waivers on Iranian and Russian crude recently eroded discounts China's teapots have long enjoyed, forcing them to buy Iranian oil at premium to Brent for first time since 2022. China factory-gate prices also rose for first time since Sep-2022 amid surge in oil.

      • With China feeling economic impact of war, there are thoughts US blockade aimed in part at prodding Beijing to exert more pressure on Iran to reach agreement. China responded to announcement by reiterating its desire for unobstructed flows through Strait of Hormuz while warning US against impeding its trade with Iran and dismissing reports it is helping to arm Iran. China officials have pushed for diplomacy with President Xi on Tuesday saying country would continue to play constructive role by promoting dialogue (Bloomberg).

    • Notable Gainers:

      • +4.4% 6952.JP (Casio Computer): aims to raise ROE to 10% or more by FY ending Mar 29

      • +3.6% 010120.KS (LS Electric): reportedly signs KRW170B deal to supply switchgear to a US big tech firm, presumed to be AWS

      • +3.1% 003490.KS (KOREAN AIR LINES Co.): reports Q1 standalone results; operating profit +47% year-on-year

      • +2.5% 4684.JP (OBIC Co.): reportedly expected to report FY operating profit ¥88.0B vs guidance ¥86.2B; FactSet operating profit estimate is ¥87.90B

      • +2.0% 068270.KS (Celltrion): confident of record-breaking revenue and operating profit again this year

      • +1.9% 3349.JP (COSMOS Pharmaceutical): reports 9M results; March existing store sales +6.3% y/y

    • Notable Decliners:

      • -4.7% 9948.JP (Arcs Co.): reports FY results, March sales

      • -0.6% 5076.JP (INFRONEER Holdings): confirms it is in discussions regarding acquisition of Swing Corp

  • Data:

    • Economic:

      • China March

        • Trade balance $51.13B vs consensus $108B and $213.6B in Jan-Feb

          • Exports +2.5% y/y vs consensus +8.6% and +21.8% in Jan-Feb

          • Imports +27.8% y/y vs consensus +11.2% and 19.8% in Jan-Feb

      • Australia

        • April Westpac-MI consumer sentiment index 80.1 vs 91.6 in March

        • March NAB business confidence -29 vs -1 in February

          • Business conditions +6 vs +7 in February

      • Singapore Q1

        • GDP +4.6% y/y vs consensus +5.4% and revised +5.7% in prior quarter

          • GDP (0.3%) q/q vs consensus (0.5%) and revised +1.3% in prior quarter

    • Markets:

      • Nikkei: 1,374.62 or +2.43% to 57877.39

      • Hang Seng: 211.47 or +0.82% to 25872.32

      • Shanghai Composite: 38.07 or +0.95% to 4026.63

      • Shenzhen Composite: 37.88 or +1.42% to 2704.43

      • ASX200: 44.80 or +0.50% to 8970.80

      • KOSPI: 159.13 or +2.74% to 5967.75

      • SENSEX: Closed

    • Currencies:

      • $-¥: (0.35) or (0.22%) to 159.1040

      • $-KRW: (2.05) or (0.14%) to 1477.0900

      • A$-$: +0.00 or +0.01% to 0.7095

      • $-INR: (1.25) or (1.32%) to 93.2059

      • $-CNY: (0.01) or (0.22%) to 6.8157

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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