Oct 13 ,2026
Synopsis:
Asia markets pared early losses to finish mixed. The Kospi and Nikkei 225 still ended sharply lower but well off their respective troughs; Taiex also down by around 2%, Shenzhen also finished lower. Gains for Shanghai, Hong Kong, India and Singapore. Australia's ASX back at the flatline. US futures mixed with the Nasdaq lower but S&P 500 higher; EU mixed in the first hour but also turning higher. US dollar lower, yen rallying, won stronger on hawkish comments from South Korea's President. Treasury yields mixed, JGB yields edged higher. Precious metals higher, base metals pared some overnight losses. Cryptocurrencies higher.
Technology stocks back under pressure in Asia Tuesday. The selloff began in Seoul, where Samsung Electronics (005930.KS) and SK Hynix (000660.KS) both gapped lower from the open while Kioxia (285A.JP) fell sharply in Japan on reports late Monday that China's CXMT (688825.CH) was near to perfecting a server-memory product that could challenge its South Korean rivals. Comments overnight from Broadcom CEO Hock Tan who said some investors did not know what they were investing in only to find out there were 'in a casino' also dented sentiment. However, stocks rallied in the afternoon as US futures turned upward and European bourses opened mostly higher, and long-dated Treasury yields eased on the tick lower in crude prices.
In regional developments, Japan PM Takaichi said Tokyo will continue to communicate with the US to maintain stable forex; BOJ governor Ueda said inflation is very close to target 2% and it was important to keep it there. Australia business sentiment fell again in September just as RBA meeting minutes revealed members indicated further rate hikes were possible if inflation persisted. Late Monday, India inflation rose again to reinforce the RBI's hawkish tone last week.
Omron (6645.JP) is to buy US-based industrial PC firm Onlogic (0TC2LL-E) and its parent company Interlogic for $675M. NTT's (9432.JP) data unit is said to be in the final stages of talks to build a data center in Osaka for Anthropic, according to a Nikkei report. Xpeng (9868.HK) said it will expand its Europe-based production to comply with new EU local content rules. Shanghai International Port Group (600018.CH) is in talks to buy an LME-approved warehouse firm H&M Metal Warehousing. Data center operator AirTrunk (+AIRTRUNK) is to delay its IPO in Singapore until next year amid market volatility, higher interest rates. Air New Zealand (AIR.NZ) has applied to various regulators to extend its codeshare partnership with Virgin Australia (VGN.AU) into a broader reciprocal relationship.
Digest:
Notable Gainers:
+9.7% 6505.TT (Formosa Petrochemical): reports September revenue NT$86.93B, +6.1% m/m and +65.6% y/y
+7.8% 8129.JP (Toho Holdings): terminates consideration of PHC Holdings acquisition
+5.7% 6136.JP (OSG Corp): reports Q3 results; to launch up-to-¥5B buyback
+5.2% 268.HK (Kingdee International Software Group): reports subscription services ARR as of 30-Sep at CNY4.60B, +19.3% y/y
+1.6% 6645.JP (OMRON): to acquire US industrial PC maker OnLogic's parent Interlogic for $675M (¥104.6B)
+1.2% 6506.JP (YASKAWA Electric): reports H1 results
+0.2% 9432.JP (NTT, Inc.): reportedly in final talks to build data center for Anthropic in Osaka
Notable Decliners:
-14.3% 226950.KS (OliX Pharmaceuticals): IND for phase 2a trial of OLX10212 rejected by New Zealand's Northern B HDEC
-13.5% 1999.HK (Man Wah Holdings): guides H1 net income attributable (90%)-(70%) vs prior year's HK$1.15B
-9.5% 6969.HK (Smoore International Holdings): reports Q3 adjusted net income ex. inhalation therapy business CNY494.9M, (5%) vs year-ago CNY518.7M
-8.7% 4443.JP (Sansan): reports Q1 results; adjusted operating income misses FactSet estimates
-7.4% 005930.KS (Samsung Electronics): CXMT competition threat, foreign outflows drag Kospi to lowest since late July
-0.8% 055550.KS (Shinhan Financial): to acquire 77.0% stake in Lotte Non-Life Insurance for KRW693.34B in cash
Data:
Economic:
Japan September
CGPI +6.8% y/y vs consensus +7.6% and +7.6% in prior month
Bank lending +5.3% y/y vs revised +5.3% in prior month
Australia September
NAB Business Conditions (0.7) versus (0.9) in prior month
NAB Business Confidence (13.2) versus (9.4) in prior month
Markets:
Nikkei: (1,253.40) or (1.82%) to 67777.52
Hang Seng: 74.02 or +0.30% to 24345.22
Shanghai Composite: 3.62 or +0.10% to 3800.86
Shenzhen Composite: 1.82 or +0.08% to 2329.11
ASX200: 0.70 or +0.01% to 8783.90
KOSPI: (348.89) or (5.46%) to 6035.35
SENSEX: 558.37 or +0.78% to 72483.05
Currencies:
$-¥: (0.41) or (0.26%) to 158.2170
$-KRW: +6.32 or +0.47% to 1341.3000
A$-$: +0.00 or +0.13% to 0.6964
$-INR: (0.44) or (0.46%) to 95.2092
$-CNY: +0.00 or +0.01% to 6.6931
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