Aug 25 ,2026
Synopsis:
Asia equities finished mostly higher after recovering from a weak open. The Nikkei, Topix, Kospi and Taiex all posted solid gains while Australia's ASX also outperformed. The Hang Seng also pared early losses to finish unchanged, Shenzhen closed slightly lower. India also trading marginally lower. US futures mixed, Europe opened with small gains. US dollar inching higher, yen weaker again, little movement of note elsewhere. Treasury and JGB yields higher. Crude blends marginally lower, precious metals also trading away from recent highs. Base metals lower. Cryptocurrencies higher as bitcoin crossed $80K.
Asia equities back on the front foot Tuesday with many benchmarks paring early losses and the MSCI Asia Pac ex Japan index closing a few points higher. But investors still eying this week's main catalysts that include Nvidia results and Fed Chair Warsh's speech on Friday. Overnight, US Treasury Secretary's Bessent's economic sanction program against Iran sent Brent crude prices below $90/bl for the first time in a week to boost regional equity sentiment, while pushing in the opposite direction was Washington's threat for a fresh 7.5% tariff over on China over excess industrial capacity.
In regional developments, RBA minutes showed the board held its OCR steady this month as it saw inflation easing and the jobs market loosening slightly, but still judged inflation to be too high. The PBOC set its yuan fixing at a significantly weaker point this morning as it moved to reign in recent relative strengthening. Taiwan July industrial output expanded almost 27% y/y but retail sales increased just 7.7%. South Korea investor focus remains on chip sector outlook but ahead Thursday is the BOK rate decision with a no change only marginally favored by economists.
Hyundai Motor (005380.KS) and its trade union reached a tentative wage agreement to potentially end a months-long dispute but SK Hynix's (000660.KS) union rejected a preliminary wage hike deal. Singtel (Z74.SP) is considering a move to begin satellite communication services in India. The South Korea government denied Washington had suggested Korea Electric Power (015760.KS) acquire a stake in nuclear power company Westinghouse. Tata Consultancy Services (532540.IN) is to purchase Porsche's automotive and consulting unit MHP for around €320M. Woodside Energy (WDS.AU) H1 net revenue beat consensus estimates on higher oil and LNG prices that offset lower output and a project cost run up.
Digest:
Notable Gainers:
+20% 688169.CH (Beijing Roborock Technology): reports H1 net income attributable CNY986.4M, +46% vs year-ago CNY677.5M
+14.8% 2268.HK (WuXi XDC Cayman): reports H1 adjusted net income CNY1.03B, +37% vs year-ago CNY747.5M
+5.3% 300124.CH (Shenzhen Inovance Technology): reports preliminary H1; revenue CNY24.68B, +20% vs year-ago CNY20.51B
+3.8% 015760.KS (Korea Electric Power): US government reportedly proposes Korea Electric Power acquire stake in nuclear power company Westinghouse; South Korean Ministry of Trade, Industry and Energy denies the report
+3.1% 501.HK (OmniVision Integrated Circuits Group): reports H1 net income attributable CNY1.22B, (40%) vs year-ago CNY2.03B; guides Q3 revenue CNY7.58-8.13B, (3.2%) to +3.9% y/y
+2.1% 9706.JP (Japan Airport Terminal): to launch up to 3.5M-share buyback for up to ¥15B; to conduct secondary offer (for holders) of 10.0M shares
+2.0% 8766.JP (Tokio Marine Holdings): reportedly willing to spend billions of dollars on M&A
+0.9% 2475.HK (Luxshare Precision Industry): reports H1 net income attributable CNY7.84B vs guidance CNY7.84-8.10B; guides 9M
Notable Decliners:
-9.2% 9868.HK (XPeng, Inc.): reports Q2 non-GAAP EPADS (CNY1.29) vs FactSet (CNY0.91); robotics business raises $900M (CNY6.05B) at $6.3B post-money valuation
-6.7% 780.HK (Tongcheng Travel Holdings): reports Q2 results; adjusted EBITDA CNY1.27B vs FactSet CNY1.29B
-5.7% 9863.HK (Zhejiang Leapmotor Technology): reports H1 results
-3.8% 002812.CH (Yunnan Energy New Material): reports H1 net income attributable CNY820.3M vs guidance CNY736.0-900.0M
Data:
Economic:
No economic data today
Markets:
Nikkei: 328.34 or +0.50% to 65856.43
Hang Seng: (6.23) or (0.02%) to 25511.10
Shanghai Composite: 7.44 or +0.19% to 3889.44
Shenzhen Composite: 8.22 or +0.33% to 2505.41
ASX200: 61.50 or +0.68% to 9164.60
KOSPI: 45.78 or +0.68% to 6742.74
SENSEX: (226.84) or (0.29%) to 77142.27
Currencies:
$-¥: +0.37 or +0.24% to 159.4740
$-KRW: +1.63 or +0.12% to 1384.7700
A$-$: (0.00) or (0.15%) to 0.7140
$-INR: (0.04) or (0.04%) to 95.6921
$-CNY: (0.00) or (0.01%) to 6.7219
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