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StreetAccount Summary - Asian Market Recap: Nikkei (2.85%), Hang Seng (0.07%), Shanghai Composite (0.97%) as of 04:10 ET

Sep 02 ,2026

  • Synopsis:

    • Asia equities ended sharply lower Wednesday. The technology-dominated Kospi, Taiex and Nikkei 225 were all steeply lower, Shenzhen also saw losses alongside the main China benchmarks. The Hang Seng was also weighed by its internet & IT stocks. India and Southeast Asia mostly down, New Zealand an exception, seeing a small gain after the RBNZ decision. US futures mixed, Europe opened lower. US dollar a little off overnight highs, NZD sharply weaker post RBNZ decision, yen notably stronger. Treasury and JGB yields higher. Crude blends higher with Brent just below $95/bl. Precious metals lower, base metals also down.

    • Asia markets fell almost everywhere Wednesday amid another step higher in crude prices post renewed strikes by the US on Iranian targets. This triggered the 10Y Treasury yield to rise to its highest in three years at 4.81% while the 10Y JGB yield stayed above 3.0% with other regional sovereign yields also higher. Brent edged near to $96/bl at one point post the US attacks before settling back, while LNG, diesel and gasoline futures all built on overnight gains. Stocks exposed to the AI chain suffered most with drops of around 4-5% at Samsung Electronics (005930.KS) and SK Hynix (000660.KS), and more declines at Advantest (6857.JP) and Tokyo Electron (8035.JP) too.

    • Elsewhere, the RBNZ hiked its base interest rate by 25 bps, as widely expected, however its commentary leant dovish to weigh on the New Zealand dollar and local sovereign yields. Australia Q2 GDP was higher than forecast at 0.4% q/q or 2.1% y/y but was seen as strengthening the case for a RBA rate hike. The yen strengthened sharply after hawkish BOJ board member Takata hinted at either back-to-back rate hikes or a 50 bps increase this month. Comments came after US Treasury Secretary Bessent overnight reiterated the need for the BOJ to tighten policy. South Korea August inflation rose to 3.1% although much of spike was down to one-off mobile phone fees and fuel costs.

    • Cathay Pacific's (293.HK) owner Swire Pacific is considering the repurchase of HK$4.7B in convertible bonds alongside a placement of Cathay Pacific shares. Honda Motor (7267.JP) has told its suppliers to cut costs as it seeks $9B in savings to ward off China competition. BYD (1211.HK) August car sales rose by 18% y/y on an export surge that countered poor domestic demand. Yamaguchi Financial (8418.JP) said it will sell more JGBs as interest rates spike despite taking a $400M hit from a similar move last year. Bloomberg reported HDFC Bank's (500180.IN) CEO refusal to institute changes at the bank requested by chair accelerated his departure.

  • Digest:

    • Notable Gainers:

      • +15.3% 1686.HK (SUNeVision Holdings): Earnings

      • +8.7% 2593.JP (ITO EN): Earnings

      • +7.6% 2096.HK (Simcere Pharmaceutical Group): Licenses SIM0660 to Roche

      • +7.2% 180640.KS (HANJIN KAL): Reports on management rights dispute with Korea Zinc

    • Notable Decliners:

      • -3.3% 9866.HK (NIO Inc): Earnings

      • -1.6% 293.HK (Cathay Pacific Airways): Swire Pacific seeks to repurchase HK$4.7B exchangeable bonds alongside a concurrent placement of Cathay Pacific Airways shares

  • Data:

    • Economic:

      • Australia Q2

        • GDP +0.4% q/q vs consensus +0.3% and +0.3% in Q1

          • GDP +2.1% y/y vs consensus +1.8% and +2.5% in Q1

      • South Korea August

        • CPI +3.1% y/y vs consensus +3.2% and +2.8% in prior month

          • CPI ex-food & energy +3.4% vs +2.6% in prior month

      • New Zealand July

        • Building permits m/m (4.2%) versus (3.7%) in prior month

    • Markets:

      • Nikkei: (1,889.70) or (2.85%) to 64325.64

      • Hang Seng: (18.52) or (0.07%) to 25311.21

      • Shanghai Composite: (38.50) or (0.97%) to 3941.39

      • Shenzhen Composite: (36.85) or (1.45%) to 2511.52

      • ASX200: (88.30) or (0.97%) to 8978.40

      • KOSPI: (273.08) or (3.99%) to 6562.72

      • SENSEX: (495.59) or (0.64%) to 76448.69

    • Currencies:

      • $-¥: (0.50) or (0.31%) to 159.6800

      • $-KRW: (10.97) or (0.80%) to 1362.7700

      • A$-$: (0.00) or (0.03%) to 0.7143

      • $-INR: (0.04) or (0.04%) to 94.9409

      • $-CNY: (0.00) or (0.00%) to 6.7208

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