Oct 12 ,2026
Synopsis:
Asia markets ended mixed Monday on low volumes. Very steep declines in South Korea's Kospi as it partially marks-to-market following Friday's holiday. Mainland China boards resumed their recent declines, losses in India and several Southeast Asia benchmarks. Small gains in Hong Kong, Australia and Singapore. Japan on holiday, US markets also closed today. European markets higher at the open, US futures slightly higher. US dollar flat, little movement of note in Asia forex outside the rupee, which is up 0.5% after RBI moves to provide support. Treasury futures higher, JGBs mixed. Crude oil prices pared early losses, now higher; Brent close to $105/bl. Precious metals turning lower. Base metals seeing support.
Asia markets lacked a firm direction Monday amid mixed news on energy prices, market closures and more wobbles in the technology chain. Crude prices were down sharply first thing on Trump's second claim of a partial Russia-Ukraine ceasefire on energy assets, which were reversed by escalating fighting between Houthis and Saudi Arabia and reports of another tanker strike in the Gulf. There were also doubts over the legality of Trump's deal with Russia to release diesel onto global markets. Seoul-listed technology stocks were down sharply as investors caught up with Friday's regional weakness as well as Samsung Electronics (005930.KS) poorly received quarterlies.
Few regional catalysts to offset the overarching narrative. China and EU officials agreed on a deal that will see the number of China-made hybrid vehicles to Europe halve, with most commentators agreeing it would avoid a full-scale trade war. India's rupee strengthened by around 1% following the weekend announcement from the RBI on several measures to support the currency. China's yuan ticked higher following more pledges of government stimulus and the strongest daily fixing by the PBOC in more than four years.
Luxshare Precision (2475.HK) faces a US patent investigation into its data-center power technologies. Hon Hai Precision (2317.TT) said the USITC patent investigation has not had any material impact on operations, product shipments or customer relationships. Moonshot (+MOONSHOT.HK) is said to be in talks with a shareholder who is demanding compensation ahead of its IPO scheduled for early 2027. CXMT (688825.CH) has unveiled 'key progress' on a chip structure that is also being developed by Samsung Electronics and SK Hynix. Tencent (700.HK) said its planned $5B bond offering will help finance AI-related capital infrastructure and could price the deal as early as Tuesday, according to a Bloomberg report.
Digest:
Notable Gainers:
+7.7% 9896.HK (MINISO Group Holding): reports Q3 total GMV of MINISO mainland +25-30% y/y; SSSG high single-digit
+4.4% 316.HK (Orient Overseas (International)): reports Q3 operation update for Orient Overseas Container Line; liner revenue $3.28B, +45.1% vs year-ago $2.26B
+3.4% S68.SP (Singapore Exchange): reports September total stock market turnover SG$42.19B, +27% y/y
+0.7% 2714.HK (Muyuan Foods Group): reports September commercial pig sales of 6.4M pigs, +15.2% y/y
+0.4% 068270.KS (Celltrion): reports preliminary Q3 operating profit KRW510.00B vs FactSet KRW501.50B
Notable Decliners:
-20.4% 007340.KS (DN AUTOMOTIVE): reportedly accused of giving workers heavy-metal detox shots disguised as vitamins before health checks
-20.2% 179.HK (Johnson Electric Holdings): guides H1 net income attributable $50-58M vs year-ago $133M
-20.1% 3182.MK (Genting): proposes MYR1.25B renounceable rights issue; price to be set at 25-30% discount to TERP
-1.8% 001979.CH (China Merchants Shekou Industrial Zone Holdings): reports September contracted sales CNY14.32B; StreetAccount notes the year-ago figure was CNY16.70B
-1.7% 688.HK (China Overseas Land & Investment): reports September contracted property sales CNY15.58B, (22.8%) y/y
Data:
Economic:
No economic data today
Markets:
Nikkei: Closed
Hang Seng: 59.85 or +0.25% to 24271.20
Shanghai Composite: (16.55) or (0.43%) to 3797.24
Shenzhen Composite: (42.32) or (1.79%) to 2327.29
ASX200: 66.60 or +0.76% to 8783.20
KOSPI: (241.69) or (3.65%) to 6384.24
SENSEX: (584.85) or (0.81%) to 71887.48
Currencies:
$-¥: +0.17 or +0.11% to 158.4600
$-KRW: (9.85) or (0.73%) to 1330.6900
A$-$: (0.00) or (0.16%) to 0.6974
$-INR: (0.80) or (0.83%) to 95.7174
$-CNY: (0.00) or (0.01%) to 6.6920
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