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StreetAccount Summary - Asian Market Recap: Nikkei (4.03%), Hang Seng (1.78%), Shanghai Composite (3.05%) as of 04:10 ET

Jul 17 ,2026

  • Synopsis:

    • Asia equities fell sharply Friday although many benchmarks finished off their lows. The Nikkei 225 and Taiwan's Taiex fell the most while Shenzhen led mainland China benchmarks lower. The Hang Seng and Shanghai's main benchmarks also lost ground but were off their troughs. Australia and Singapore fell but emerging Southeast Asia gained slightly and India is trading higher. South Korea closed for a holiday. US futures lower, Europe opened down. US dollar flat, little movement of note in Asia currencies. Treasury and JGB yields mixed. Precious metals mixed, Brent crude flat having traded higher earlier. Cryptocurrencies under pressure. For the week, the regional MSCI Asia Pac ex-Japan index fell around 3% with outsized declines in South Korea, Taiwan, and mainland China benchmarks; and outperformance in Australia, Southeast Asia, and the Hang Seng. Japan's main boards underperformed noticeably.

    • Asia equities fell sharply from the bell Friday amid further selling in chipmakers in Taiwan and Japan, with Seoul closed for a market holiday probably sparing the Kospi for today from more losses. The declines were underscored by Kioxia (285A.JP) falling by its daily limit of 16%, and TSMC (2330.TT) down more than 7% but AI-related and chip stocks throughout Asia fell sharply. No particular catalyst for the weakness but it followed a poor Nasdaq performance overnight and was followed by some sharp selling in ASML in Europe early on, all as concerns build over stock valuations vis-a-vis the cluster's massive investments.

    • Investors also eying crude prices, which have remained steady for three days, and broader developments in the Gulf with few signs of a breakthrough in ceasefire or long-term peace talks. More warnings today from the IEA over pending fuel shortages while Tehran reiterated threats over the Red Sea if the US strikes its power infrastructure.

    • SoftBank (9984.JP), Sony Group (6758.JP) and Honda Motor (7267.JP) are to lead work on Japan AI using Nvidia Rubin chips. Baidu (9888.HK) is looking to upgrade its Hong Kong listing to tap mainland China investors. DeepSeek's (+DEEPSEEK) IPO filing shows company is looking for a market valuation of around $52B. Moonshot (+Moonshot.HK) is set to launch an AI model that challenges Anthropic's top position, according to a FT report. SBI Funds Management (+SBIFM.IN) has attracted bids worth $31B in India's fourth biggest IPO ever.

  • Digest:

    • Notable Gainers:

      • +6.6% 1836.HK (Stella International Holdings): reports Q2 revenue $449.3M vs year-ago $444.0M

      • +5.4% 2871.JP (Nichirei): reportedly resumes operations at some warehouses and factories after system failure

      • +3.6% 3382.JP (Seven & I Holdings): confirms discussions over potential investment in Zabka following report of advanced talks for stake worth several hundred billion yen; says no decisions made

      • +0.4% 2285.HK (Chervon Holdings): guides H1 net income $100-110M vs year-ago $95.3M

    • Notable Decliners:

      • -28.5% 2513.HK (Z.AI): Chinese AI company Moonshot launches world's largest open-weight AI model

      • -16.1% 285A.JP (Kioxia Holdings): to award $229M (¥37.1B) in damages to Viasat by verdict

      • -7.3% 2330.TT (TSMC): strong beat and raise but raised capex, gross margin guide imply some cost inflation

      • -5.4% 358.HK (Jiangxi Copper): plans spin-off listing of subsidiary Jiangxi JCC Copper Foil Technology in Hong Kong

      • -4.2% 600879.CH (China Aerospace Times Electronics): space-related stocks selling off following last minute abort of SpaceX's Starship rocket launch

      • -3.4% 9888.HK (Baidu): to seek dual-primary listing in Hong Kong; Hong Kong IT sector move

  • Data:

    • Economic:

      • Singapore June

        • Non-oil exports +20.7% y/y vs consensus +30.2% and revised +38.4% in prior month

    • Markets:

      • Nikkei: (2,694.42) or (4.03%) to 64141.12

      • Hang Seng: (446.36) or (1.78%) to 24562.24

      • Shanghai Composite: (118.26) or (3.05%) to 3764.15

      • Shenzhen Composite: (134.75) or (5.25%) to 2434.08

      • ASX200: (44.00) or (0.50%) to 8796.70

      • KOSPI: 0.00 or 0.00% to 6820.60

      • SENSEX: 769.89 or +1.00% to 77956.76

    • Currencies:

      • $-¥: (0.07) or (0.04%) to 162.3110

      • $-KRW: +2.33 or +0.16% to 1482.4000

      • A$-$: (0.00) or (0.18%) to 0.6985

      • $-INR: (0.00) or (0.00%) to 96.3146

      • $-CNY: +0.00 or +0.02% to 6.7743

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