Sep 30 ,2026
Synopsis:
Asia markets traded mostly higher Wednesday. Some strong gains for the Nikkei 225 and Topix while the Hang Seng pared early losses to close higher. Shanghai was also higher while Taiwan closed on a fresh record high. South Korea was flat, India is slightly higher, and Southeast Asia largely lower. The Kospi and Shenzhen both declined a little. US futures higher, Europe opened with gains. US dollar unchanged, yen stronger, AUD weaker. JGB yields lower; Treasury yields higher at the short end, lower at the long end. Crude futures flat with Brent at $96/bl. Precious metals finding support after several down days. Base metals higher.
Asia stocks ended the month and quarter on a high as sentiment improved overnight in the US and sovereign bond yields dipped slightly. A modest decline in crude prices also helped improve the mood. For the month, the main MSCI regional index for Asia showed a small decline but there were some strong moves on a national and sector basis: Taiwan led, South Korea saw a small gain but there were some sharp corrections in Greater China, Australia, Southeast Asia and India. For the quarter, the MSCI Asia Pac Index was similarly down only around 0.6% but the mix was different; Singapore outperformed alongside Hong Kong and Taiwan but South Korea saw a steep decline amid strong volatility while there were other notable losses for India, Shenzhen and Hong Kong. Japan's Nikkei 225 outperformed the Topix for September but underperformed over the quarter.
In regional developments today, the PBOC said it would cut its pledged supplementary lending (PSL) rate by 25 bps to 1.5% and introduce subsidies for first time buyers but property stocks in Hong Kong fell on disappointment the stimulus was not broader in scope. China PMIs for September showed marginal expansion as the official reading returned to above 50 while the private RatingDog survey also showed accelerated expansion. Japan industrial production for August contracted against expectations for an expansion while retail sales growth also missed expectations. South Korea August industrial output also surprisingly fell and retail sales declined again. Australia August inflation rose 4.0% from 3.5% but was below expectations.
SoftBank (9984.JP) shares gained on reports OpenAI was seeking to raise more than $30B in a new funding round that would value the company at around $1.4T. Nidec (6594.JP) confirmed early reports this week that its president and CEO Kishida had resigned and its CTO replaced; is considering selling its Components unit, revealed impairment charge. DeepSeek (+DEEPSEEK) has released software it created using Huawei (+HUAWEI) chips, reflecting deepening ties between the two companies.
Digest:
Notable Gainers:
+6.5% 9984.JP (SoftBank Group): OpenAI reportedly seeking to raise $30B+ in new funding round at pre-money valuation of $1.4T
+4.8% 030000.KS (Cheil Worldwide): to launch KRW40.00B buyback; guides KRW140.00B buyback plan
+4.7% 6594.JP (Nidec): confirms resignation of president and CEO Mitsuya Kishida; CTO Michio Kaida has been replacement; also confirms considering selling subsidiary Nidec Components following report
+3.1% 600547.CH (Shandong Gold Mining): chairman proposes CNY300-400M on-market buyback
+2.9% 7269.JP (Suzuki Motor): reports Aug global vehicle production +22.1% y/y to 295,249
+2.6% 5016.JP (JX Advanced Metals): JX Advanced Metals, Tronox conduct joint study for rare earth business
+2.1% 2002.TT (China Steel): president Chen Shou-Tao retires
+1.6% 7004.JP (Kanadevia): Kanadevia, Nippon Steel Engineering terminate business integration plan
+0.4% 7532.JP (Pan Pacific International Holdings): reportedly to acquire Toys R Us Japan business as toy retailer exits country
Notable Decliners:
-3.0% 3050.JP (DCM Holdings): reports Q2 earnings; operating income ¥9.78B vs FactSet ¥10.80B
-1.8% 9044.JP (Nankai): reports August revenue from all passengers on all lines ¥5.91B, (1.6%) y/y
Data:
Economic:'
China September
Official manufacturing PMI 50.1 vs consensus 50.1 and 49.8 in prior month
Non-manufacturing PMI 50.2 vs consensus 49.2 and 49.0 in prior month
Composite PMI 50.7 vs 49.5 in prior month
RatingDog Manufacturing PMI 52.1 vs consensus 51.6 and 51.5 in prior month
Services PMI 51.6 vs consensus 51.1 and 51.4 in prior month
Composite PMI 52.4 vs 52.1 in prior month
Japan August
Retail sales +2.7% y/y vs consensus +3.2% and revised +3.7% in prior month
Retail sales (1.2%) m/m vs consensus (1.1%) and revised +2.1% in prior month
Industrial production (1.7%) m/m vs consensus +1.3% and (0.2%) in prior month
METI survey projections +3.2% in Sep, +3.1% in Oct
South Korea
August industrial production (4.8%) m/m vs FactSet consensus (7.5%) and revised +0.5% in prior month
Industrial production (2.2%) y/y vs FactSet consensus +0.8% and revised +4.0% in prior month
Australia August
CPI +4.0% y/y vs consensus +4.1% and +3.5% in July
CPI +0.4% m/m vs consensus +0.5% and +1.0% in July
Trimmed mean CPI +0.2% m/m vs consensus +0.3% and +0.5% in July
Trimmed mean CPI +3.6% y/y vs consensus +3.6% and +3.6% in July
Building approvals (6.1%) m/m vs consensus (1.0%) and (3.6%) in July
Private sector credit +0.6% m/m vs consensus +0.5% and +0.6% in July
New Zealand
September ANZ Business Confidence +51.9 vs +53.7 in August
Markets:
Nikkei: 1,272.45 or +1.94% to 66753.72
Hang Seng: 89.70 or +0.37% to 24613.27
Shanghai Composite: 11.74 or +0.31% to 3842.19
Shenzhen Composite: (5.57) or (0.23%) to 2404.48
ASX200: 80.00 or +0.92% to 8789.30
KOSPI: (32.77) or (0.48%) to 6838.04
SENSEX: 442.38 or +0.61% to 72971.45
Currencies:
$-¥: (0.37) or (0.23%) to 156.9260
$-KRW: +1.25 or +0.09% to 1352.5500
A$-$: (0.00) or (0.15%) to 0.6976
$-INR: (0.06) or (0.07%) to 95.8364
$-CNY: (0.00) or (0.01%) to 6.7032
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.
Please refer to "Terms Of Use".
DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE