Oct 15 ,2026
Synopsis:
Asia equities fell almost everywhere Thursday with technology-led benchmarks underperforming substantially. The MSCI Asia Pac ex Japan index fell around 3.7% while the Nikkei fell almost 5.0%, the Kospi lost 7.6% after another circuit breaker was called, and the Taiex fell 3.4%; Shenzhen led Greater China benchmarks lower while there were significant declines on the Topix. Australia opened lower but rallied to the flatline; India surging as its IT stocks rally. US futures lower, Europe opened with declines. US dollar weaker but off its lows, yen stronger, NZD stronger on hawkish-leaning RBNZ comments, won and Taiwan dollar notably weaker. Treasury yields lower across tenors, JGB yields also down. Crude oil lower with Brent below $105. Precious metals rallying on the dollar weakness, base metals lower. Cryptocurrencies sharply down.
Asia technology stocks fell from the bell Thursday as concerns over the AI build out remained, exacerbated by growing concerns over inflation after a strong-than-expected print US CPI print last night drew worries over central bank responses. The Asia AI trade now under severe medium-term pressure as debt loads trigger balance sheet examination amid higher borrowing costs and expanding CDS spreads. Among the stock decliners, Samsung Electronics (005930.KS) lost more than 9%, SK Hynix (000660.KS) 11%, Kioxia (285A.JP) 12%, Advantest (6857.JP) 15%, and Tokyo Electron (8035.JP) almost 8%; TSMC (2330.TT) declined 2% before Q3 numbers after the close showed beats across almost every line except in some of the more bullish margin estimates.
Elsewhere, BOJ board member Koeda said there was no need to be over cautious with rate hikes amid ongoing risks to inflation. Australia's unemployment rate rose to its highest in nearly four years with employment levels shrinking. The IMF upgraded FY GDP growth forecasts for several nations linked to the AI supply chain. Separately, it also warned China the yuan was undervalued by double-digit percentage points that reflect domestic economic imbalances. China's lending data improved but on seasonal issues and stimulus. The RBNZ chief economist said the bank's next interest rate decision was 'wide open', but the direction was 'most likely up'.
Oasis Capital (0C7J5X-E) has increased its stake in Nidec (6594.JP) to 9.0% to become the company's single largest shareholder. MUFG (8306.JP) said it is 'tentatively' re-engaging with Japan government bonds despite ongoing concerns over elevated yields. Jio Platforms (0M8TM9-E) is to begin taking orders from next week in what will be India's largest ever IPO. TSMC (2330.TT) posted better-than-expected Q3 results with revenue and profits both surging to record highs; said it is considering expansion in the US beyond Arizona and possibly into Texas. ByteDance (BYTE.HK) is in talks with MediaTek (2454.TT) over securing AI chips to be used in its datacenter buildout, according to a Bloomberg report.
Digest:
Notable Gainers:
+13.9% 012750.KS (S-1 Corp. (Korea)): reports Q3 results with operating profit ahead of FactSet estimates; provides value-up plan; targets 13-15% of ROE
+9.8% 2768.HK (Qingdao Gon Technology): guides 9M net income attributable CNY950.0M-1.10B vs year-ago CNY615.1M
+9.5% 7453.JP (Ryohin Keikaku): reports FY results; revenue and operating income ahead of FactSet estimates
+7.6% 7581.JP (Saizeriya): reports FY results; revenue ahead of FactSet estimates
+3.3% 3391.JP (TSURUHA Holdings): reports September same-store sales +1.0% y/y
Notable Decliners:
-20.1% 7599.JP (IDOM Inc): reports H1 results; lowers operating profit guidance
-12.3% 285A.JP (Kioxia Holdings): AI-related companies sink on US CPI, AI-funding fears
-11.1% 000660.KS (SK Hynix): AI-related companies sink on US CPI, AI-funding fears
-6.4% 1208.HK (MMG Ltd): reports Q3 copper production 111,780 tonnes, unchanged y/y
-6.2% 6594.JP (Nidec): Oasis has reportedly increased its shareholding in Nidec and become Nidec's biggest shareholder
-3.2% 902.HK (Huaneng Power International): reports Q3 total electricity sold (within China) 113.32B kWh, (9.9%) y/y
-0.3% 9418.JP (U-NEXT HOLDINGS Co.): reports FY results; operating profit misses FactSet estimate
Data:
Economic:
China September
New loans +CNY1060B versus +CNY270B in prior month
Japan
August core machinery orders +5.2% m/m vs consensus +2.3% and (3.7%) in prior month
Australia
September employment (39.3K) m/m vs consensus +20K and +39.5K in August
Unemployment rate 4.7% vs consensus 4.6% and 4.6% in August
Participation rate 66.8% vs consensus 67.0% and 67.1% in August
Markets:
Nikkei: (3,318.34) or (4.90%) to 64425.95
Hang Seng: (251.45) or (1.03%) to 24062.72
Shanghai Composite: (59.75) or (1.59%) to 3707.48
Shenzhen Composite: (60.39) or (2.64%) to 2226.48
ASX200: (8.20) or (0.09%) to 8719.70
KOSPI: (454.59) or (7.57%) to 5554.22
SENSEX: 1,383.57 or +1.90% to 74165.46
Currencies:
$-¥: (0.57) or (0.36%) to 157.7570
$-KRW: +1.61 or +0.12% to 1342.1000
A$-$: (0.00) or (0.59%) to 0.6931
$-INR: (0.21) or (0.22%) to 94.9030
$-CNY: (0.00) or (0.03%) to 6.6911
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