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Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Recap: Nikkei +0.44%, Hang Seng +0.29%, Shanghai Composite +0.01% as of 04:10 ET

Apr 15 ,2026

  • Synopsis:

    • Asia equities traded mostly higher Wednesday. Technology-leaning boards again outperformed with strong gains in South Korea and Japan while the Taiex hit a fresh record high for the second consecutive day. India also trading higher after returning from a holiday. Australia, Hong Kong and Southeast Asia all saw modest gains. Mainland China benchmarks mixed as investors took profit in Shenzhen. US futures near unchanged, Europe mixed in the opening hour. US dollar unchanged, AUD and won slightly stronger but close to unchanged elsewhere. Treasuries and JGBs quiet. Crude futures flat with WTI and Brent still below $100/bl. Precious metals under some pressure, base metals well bid. Cryptocurrencies continuing their recent run higher.

    • Asia equities ended mostly higher Wednesday as the risk-on mood continued. Most boards gapped higher at the open on the overnight oil price declines which came after several sources said talks between the US and Iran would restart in the coming days. Meanwhile, the US embargo of the Strait of Hormuz bedded down with several tankers turning around or aborting transit attempts , keeping Brent crude prices elevated but at least stable. Other markets also seeing degree of calmness return with little movement of note in commodity and forex markets. Bond markets also quiet although directionally JGB and Singapore sovereigns still showing signs of haven demand while IGB yields falling on hopes of contained inflation. Beijing also announced it would issue the largest batch of dim sum bonds in Hong Kong in three years, taking advantage of haven demand and a stronger currency.

    • In other regional developments, the Bank of Korea's incoming governor indicated he wouldn't hesitate to seek a hawkish pivot in the bank's monetary policy should domestic inflation continue to rise; comments came just as import prices surged on the high oil price. South Korea's unemployment level also declined in March although new job gains were less than in February. Japan's Tankan survey showed manufacturer confidence declined the most in three years this month while Bloomberg reported the BOJ is likely to sharply raise CPI forecasts this month on the oil price surge.

    • Suntory's HD unit is to buy Daiichi Sankyo's (4568.JP) healthcare unit through a stock transfer. SoftBank (9984.JP) lenders have asked more banks to join as sub-underwriters their $40B loan backing the company's investment into OpenAI. Hengyi Petrochemical (000703.CH) Q1 profit jumps almost 40-fold on the sharp increase in oil prices in March. Huaqin (603296.CH, 3296.HK) launched a $581M IPO in Hong Kong despite market volatility as listings in the city continue to grow. Funds managed by KKR are to acquire Samsung SDS (018260.KS) KRW 1.22T ($820M) in convertible bonds as the two companies launch a strategic partnership. Malaysia's largest solar company Solarvest Holdings (0215.MK) says demand for renewables has jumped during Iran conflict, seeks regulatory change to speed up delivery.

  • Digest:

    • Trump says US-Iran talks could resume in next two days:

      • Markets welcoming renewed diplomatic traction following weekend breakdown in US-Iran talks (Bloomberg). President Trump told NY Post second round of talks could happen in next two days, likely in Islamabad again. CNN sources said VP Vance expected to lead next round of talks along with Kushner and Witkoff, with all three having engaged with Iranians since Saturday's meeting. Vance maintained somewhat upbeat tone Tuesday about Iranian willingness to reach agreement.

      • Unclear whether talks can bridge large gap on nuclear issue (that ultimately precipitated failure of weekend talks). Trump voiced displeasure at reports US offered Iran 20-year moratorium on uranium enrichment, though Iran's counteroffer was reportedly only for a five-year suspension. Fate of enriched uranium stockpiles has also been a major sticking point. Reuters source said backchannel talks since Saturday have produced progress in narrowing gaps.

      • More than 24 hours into US naval blockade of Strait of Hormuz, there appear to have been no ships from Iranian ports that have attempted to sail through the waterway (FT, Bloomberg). Bloomberg sources said Iran weighing short-term pause on shipments through Hormuz to avoid challenging US navy and to keep diplomacy alive. US has allowed several other ships to pass into the Persian Gulf.

    • Sense of calm returns to markets:

      • Markets increasingly looking past Iran war headlines with ceasefire holding up and diplomatic traction raising hopes for deal to end conflict, helping to price out risk premiums and allowing focus to shift back to corporate fundamentals.

      • Energy markets have calmed with WTI and Brent down ~20% from March highs while US and European gas futures back to pre-war levels. Concerns about disruption to Iranian oil supply from US naval blockade have yet to materialize. While Strait of Hormuz flows remain well below pre-war levels, reports have highlighted recent uptick in shipping activity. Saudi Arabia fully restored east-west pipeline following attacks. Headline effects from recent Iranian strikes against Middle East energy facilities have also waned.

      • Equities seeing strong run with tech-heavy benchmarks biggest gainers so far in April. South Korea (+21% mtd), Taiwan (+16%) and Japan (+14%) headlining Asia while Nasdaq (+9%) on longest winning streak since late 2021. Bullish AI narrative remains intact, overshadowing geopolitical concerns in a week featuring deals to facilitate compute demand (Oracle-Bloom Energy, Meta-Broadcom), positive fundraising headlines (Anthropic valuation reportedly above $800B), model releases (OpenAI GPT-5.4-Cyber), and earnings optimism going into TSMC on 16-Apr and SK Hynix's results.

      • Bond yields backing down with latest selloff in oil tempering (for now) concerns about sustained elevation in inflation expectations. Corresponding with sharp decline in bond market volatility with MOVE index down 35% from recent high to lowest since early March. Dollar index trading back down to early March lows, providing reprieve for Asian currencies that recently fell to multi-decade lows and prompted stepped up verbal warnings from financial authorities.

    • China activity data seen moderately positive as Q1 GDP growth strengthened:

      • Ahead of tomorrow's data, Bloomberg consensus looks for China Q1 GDP growth of 4.8% y/y, picking up from 4.5% in Q4 and consistent with the previously noted Reuters average. In light of the recent Middle East driven volatility, Q1 data seen as generally dated though still provides the final snapshot before the outbreak of the Iran war. Bloomberg echoed potential implications that a solid result would reduce the urgency for additional stimulus especially after lowering the official growth target to 4.5-5.0% representing the lowest bar since 1991. Similarly noted more economists taking out PBOC rate cut forecasts this year amid implications for inflation expectations from oil prices. Accompanying activity data anticipated to be positive, though still demonstrating supply-demand imbalances. Industrial production expected to rise 5.3% y/y in March. While softer than 6.3% in Jan-Feb, such a result will likely be seen as solid considering the lull in activity over the LNY holiday. Momentum underpinned by surprising strength in exports. Retail sales projected to moderate to 2.4% from 2.8% in Jan-Feb. Waning car demand noted as a drag. Fixed asset investment seen edging up to 1.9% in Jan-Mar from 1.8% in Jan-Feb and an unprecedented contraction last year. Yet, real estate remained weak.

    • Bank of Korea incoming Governor signals potential for hawkish pivot:

      • Bank of Korea governor nominee Shin Hyun-song said Wednesday country's inflation will likely accelerate from this point and place downward pressure on economy. Hinted bank will have to act on monetary policy if there are prolonged supply-side inflationary pressures from Iran conflict adding 'significant test is coming' (Reuters). Shin likely to be formally installed as governor on 20-Apr before next policy decision on 28-May. Also signaled forex u-turn: warned against sharp won weakening, added he would support intervention if volatility became excessive. Shin's warning comes just as data showed country's import prices rose at sharpest pace in 28 years in March amid oil price surge (KoreaHerald). Bank's import price index rose 18.4% y/y (in won terms), 16.1% m/m, as Dubai crude oil costs rose 87.9% to $128.5/bl; other raw material costs rose 40.2%, intermediate goods rose 8.8%. BoK acknowledged weaker won contributed to overall import cost increase while export prices rose 16.3%.

    • Japan Reuters Tankan echoes sharp deterioration in sentiment indicators:

      • Reuters Tankan manufacturers sentiment index was +7 in April vs +18 in the previous month. Marks the first decline in three months and the sharpest since Jan-23. Surging oil prices and supply chain disruptions were cited as the main factors, overshadowing recent optimism underpinned by strong chip-led demand. Highlighted materials sectors bearing the brunt of the downswing as chemicals dropped to -8 from +21. Downstream sectors saw relatively moderate weakening as autos fell to +20 from +36. In contrast, nonmanufacturers improved to +31 from +25, supported by steady demand in construction, real estate and information services despite rising costs. Recall the prior 6-pt improvement in the manufacturing index in March was discounted given the survey period falls in the early part of the month and was too soon to capture the fallout since the Iran war began. More widely watched BOJ Tankan was given similar treatment. Subsequent sentiment indicators covering the latter part of March have been notably weak, namely consumer confidence and Economy Watchers Survey current conditions indexes fell at the fastest pace since the Covid pandemic. April BOJ rate hike expectations fading rapidly since Governor Ueda's speech flagged potential Middle East risks. OIS pricing has reportedly dropped into the low 30% range from around 55% at the end of last week.

    • Notable Gainers:

      • +18.1% 3994.JP (Money Forward): reports Q1 results; confirms FY guidance

      • +17.9% 018260.KS (SAMSUNG SDS CO.): to issue KRW1.220T 2.5% convertible bonds due 2032; funds managed by KKR to acquire KRW1.22T($820M) of newly issued bonds; KKR and Samsung SDS announce strategic partnership

      • +14.3% 6532.JP (BayCurrent Inc): reports FY; announces guidance for next fiscal year

      • +5.7% 9842.JP (Arclands): reports FY results; Arclands, Joyful Honda to merge via joint share transfer at 1:1.15 ratio

      • +3.6% 4568.JP (Daiichi Sankyo): Suntory Holdings reportedly to buy Daiichi Sankyo's OTC unit for around ¥200B

      • +1.7% 1055.HK (China Southern Airlines): reports March traffic +13.76% y/y

    • Notable Decliners:

      • -3.9% 9602.JP (Toho Co): reports FY results with headline figures below FactSet estimates; announces guidance for next fiscal year

      • -2.1% 3086.JP (J. FRONT RETAILING): reports FY results; revenue below FactSet estimates

      • -1.4% 000938.CH (Unisplendour Corp.): reports FY results; headline figures below FactSet estimates

      • -1.3% 1798.HK (China Datang Corp. Renewable Power): reports March power generation 2,756 GWh, (20.9%) y/y

  • Data:

    • Economic:

      • Japan April

        • Reuters Tankan manufacturers sentiment index +7 vs +18 in prior month

          • Nonmanufacturers index +31 vs +25 in prior month

      • South Korea March

        • Unemployment rate 2.7% vs FactSet consensus 2.7% and 2.9% in prior month

    • Markets:

      • Nikkei: 256.85 or +0.44% to 58134.24

      • Hang Seng: 75.00 or +0.29% to 25947.32

      • Shanghai Composite: 0.58 or +0.01% to 4027.21

      • Shenzhen Composite: (19.13) or (0.71%) to 2685.30

      • ASX200: 7.90 or +0.09% to 8978.70

      • KOSPI: 123.64 or +2.07% to 6091.39

      • SENSEX: 1,144.88 or +1.49% to 77992.45

    • Currencies:

      • $-¥: +0.05 or +0.03% to 158.8370

      • $-KRW: +1.47 or +0.10% to 1473.7600

      • A$-$: +0.00 or +0.25% to 0.7143

      • $-INR: +0.21 or +0.23% to 93.3759

      • $-CNY: +0.00 or +0.02% to 6.8169

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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