Oct 09 ,2026
Synopsis:
Asia equities ended mostly higher Friday. The Hang Seng saw the best of the gains while there were solid advances in Australia, India and Japan's Topix. The Nikkei was flat. Mainland China benchmarks rose following a poor open, Southeast Asia was mixed, Singapore flat after two sharply lower days. South Korea and Taiwan closed for a holiday. US futures higher, Europe opened with gains. US dollar lower as the DXY index fell below 102 for a time; AUD stronger but little movement of note elsewhere. Treasury yields mixed, JGB yields lower across tenors. Oil futures down sharply although Brent still well above $102/bl. Precious metals rallying from recent losses, industrial metals mixed. Cryptocurrencies higher.
Asia equities rallied from a weak open to close mostly higher Friday in an otherwise directionless week for stocks. Benchmarks opened lower on read through from a tough overnight session on Wall Street but moved higher as the oil price came down a tad and sovereign bond yields edged away from their recent highs. Mainland China stocks rose in the afternoon session on reports regulators had advised funds and insurance companies to limit sell orders while 'national team' funds activity surged to their highest in weeks. Separately, the yuan rose to a four-year high after the PBOC defended its forex policy ahead of EU trade talks.
For the week, Asia equities still fell on aggregate as the MSCI Asia Pacific ex-Japan index declined around 0.8%; there were outsized falls in South Korea, Singapore and mainland China, while Taiwan, Hong Kong and Japan's Nikkei 225 all gained. In other developments Friday, Japan household spending growth contracted for a ninth consecutive month y/y but beat estimates. Tokyo launched a spending review as it seeks to cut government spending costs to pay for PM Takaichi's spending plans. Indonesia's finance minister has ordered cost-cutting measures to keep fiscal spending below the country's deficit ceiling.
Fast Retailing (9983.JP ) posted record quarterly profits as sales in western nations overtook China for the first time. Meta has banned ByteDance's (+BYTE.HK) TikTok from advertising on its apps, according to Bloomberg. Xiaomi (1810.HK) reported strong orders for its newly launched SkyNomad SUV; shares sharply higher in Hong Kong. Firmus (+FIRMUS ) scrapped its $5B Australia-based IPO on weak demand but said it will instead try and list on the Nasdaq next year.
Digest:
Notable Gainers:
+15.8% 6323.JP (Rorze Corp): reports H1 results with sharp rise in semiconductor-related equipment orders
+5.5% 2498.HK (RoboSense Technology): reports Q3 preliminary LiDAR sales volume of 595.6K units
+5.4% 688099.CH (Amlogic (Shanghai)): guides Q3 net income attributable CNY649.2-699.2M, +222.7-247.5% y/y
Notable Decliners:
-4.0% 9983.JP (FAST RETAILING): reports FY results; provides guidance for next FY
-3.9% 9984.JP (SoftBank Group): AI trade pressured after report put OpenAI annualized revenue $20B below prior indication
-2.1% 9927.HK (SERES Group): reports September total vehicle production 30,344 units, (38.4%) y/y
-1.1% 4543.JP (Terumo): to terminate supply agreement with CSL Plasma; cuts FY net income attributable guidance to ¥120.00B vs prior guidance ¥193.10B and FactSet ¥197.32B
-0.5% 2269.HK (Wuxi Biologics (Cayman)): holder WuXi Biologics Holdings reportedly launches selldown to raise up to HK$3.90B
Data:
Economic:
Japan August
Household spending (3.1%) y/y vs consensus (3.6%) and (3.6%) in prior month
Spending +0.1% m/m vs +0.5% in prior month
Markets:
Nikkei: (11.19) or (0.02%) to 69030.92
Hang Seng: 425.56 or +1.79% to 24211.35
Shanghai Composite: 1.89 or +0.05% to 3813.79
Shenzhen Composite: 4.26 or +0.18% to 2369.61
ASX200: 55.70 or +0.64% to 8716.60
KOSPI: Closed
SENSEX: 863.60 or +1.21% to 72456.84
Currencies:
$-¥: +0.47 or +0.30% to 158.3540
$-KRW: +1.29 or +0.10% to 1343.9000
A$-$: +0.00 or +0.32% to 0.6978
$-INR: (0.03) or (0.03%) to 96.7602
$-CNY: (0.01) or (0.12%) to 6.6946
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