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StreetAccount Summary - Asian Market Recap: Nikkei (3.95%), Hang Seng +0.41%, Shanghai Composite (1.16%) as of 04:10 ET

Jul 28 ,2026

  • Synopsis:

    • Asia technology stocks under considerable pressure Tuesday. Kospi down more than 10%, Nikkei 225 lost 4.0%, and the Taiex was down 4.6% with the rout extending to Shenzhen. Shanghai and Southeast Asia ended lower but were relative outperformers. Australia's ASX and the Hang Seng ended higher, India is flat. US futures mixed, Europe opened with modest gains. US dollar DXY index hovering at overnight highs at 101, some pressure on Asia currencies. Treasury and JGBs mixed. Crude lower with Brent below $84/bl as a fragile middle east ceasefire holds. Precious metals sinking, base metals mixed. Cryptocurrencies lower.

    • Asia equity benchmarks with a clear split Tuesday between the technology-heavy boards in South Korea, Taiwan and Japan, and those less exposed to the AI cluster in Southeast Asia, India and even Hong Kong. The trigger for the selloff was a poor overnight session on Wall Street amid skepticism over AI spending and circular financing within the sector. The SOX semiconductor index fell more than 2% with negative signals from several corporate bonds linked to the AI chain adding to the angst. Further, reports a Chinese company had started mass production of advanced chip-making machines (DUVs) deepened concerns over competition from China, following on just a day from CXMT's successful IPO.

    • In Asia, SK Hynix (000660.KS) fell 11.9%, Samsung Electronics (005930.KS) lost 13.4%, Kioxia (285A.JP) 18.3% and Advantest (6857.JP) 10.1%. In Taiwan, TSMC (2330.TT) was a relative outperformer but Nanya Tech (2408.TT) and MediaTek (2454.TT) were notable decliners. Broader indexes outperformed on the lower oil price after President Trump said once again there was a "good chance" of an agreement between the US and Iran. In other developments, RBA Governor Bullock said the bank was prepared to raise base interest rates again if it was needed; South Korea consumer confidence improved for June; Japan's PM Takaichi said to be ready to publish details of a reduction to consumption tax this week.

    • SK Hynix's ADR (SKHY) fell below its US IPO price overnight as investors sold semiconductor stocks on concerns over leveraged-fueled volatility. SoftBank (9434.JP) is said to be the preferred bidder for Blackstone 80% share of payment firm SP Links, with Sony Financial Group's (8729.JP) ready to sell the other 20%. BHP Group (BHP.AU) said talks with a Port Hedland union ended without a deal but more talks are planned over the coming weeks.

  • Digest:

    • Notable Gainers:

      • +6.8% 300765.CH (CSPC Innovation Pharmaceutical): guides H1 net income attributable CNY1.18-1.36B vs year-ago (CNY2.7M)

      • +3.8% 3038.JP (Kobe Bussan): Japan PM Takaichi reportedly to unveil consumption tax plan this week, based around 1% on food items (currently 8%) effective April next year

      • +1.1% 9434.JP (SoftBank Corp): reportedly preferred bidder for acquisition of payment firm SP.LINKS

      • +0.2% 002230.CH (Iflytek): launches CNY100-200M buyback

    • Notable Decliners:

      • -12.2% 4516.JP (Nippon Shinyaku): FDA releases briefing documents ahead of Adcom meeting for deramiocel

      • -5.7% 7751.JP (Canon): reports Q2 earnings boosted by tariff refund; underlying operating profit below StreetAccount estimates

      • -5.6% 934.HK (Sinopec Kantons Holdings): guides H1 net income attributable (25-35%) y/y

      • -4.1% 3635.JP (Koei Tecmo Holdings): reports Q1 results; revenue and operating income miss FactSet estimates

  • Data:

    • Economic:

      • No economic data today

    • Markets:

      • Nikkei: (2,566.27) or (3.95%) to 62364.92

      • Hang Seng: 103.67 or +0.41% to 25310.85

      • Shanghai Composite: (44.93) or (1.16%) to 3813.31

      • Shenzhen Composite: (79.69) or (3.20%) to 2410.42

      • ASX200: 53.80 or +0.60% to 8947.80

      • KOSPI: (732.09) or (10.84%) to 6023.66

      • SENSEX: (31.25) or (0.04%) to 76804.53

    • Currencies:

      • $-¥: +0.02 or +0.01% to 163.7710

      • $-KRW: (5.26) or (0.36%) to 1459.8000

      • A$-$: (0.00) or (0.34%) to 0.6967

      • $-INR: +0.00 or +0.00% to 95.7947

      • $-CNY: +0.00 or +0.01% to 6.7662

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