Oct 29 ,2026
Synopsis:
Asia equities ended mixed Thursday. Japan's Nikkei 225 ended with a strong gain but South Korea's Kospi and Taiwan's Taiex both ended lower. Mainland China benchmarks were led down by tech stocks and Shenzhen's main board; Hang Seng dipped sharply into the close. Australia, India and Singapore with small gains. Emerging Southeast Asia benchmarks were mixed. US futures mixed with the Nasdaq sharply lower but the Dow is higher, Europe seeing modest gains in early trades. US dollar flat, Asia forex mostly lower. Treasury mixed, JGB yields higher. Crude futures lower, Brent hovering just below $111/bl. Precious metals back under pressure. Base metals mixed with iron ore recovering after hitting a more than two-year low on Wednesday. Cryptocurrencies lower.
Asia benchmarks continue to be driven by technology stocks although today was mixed even within regional names: Advantest (6857.JP) earnings last night were well received and supported Kioxia (285A.JP) and Tokyo Electron (8035.JP) in a chip-based Japan rally. Meanwhile South Korea's Kospi back under pressure despite a bright open on Samsung Electronics Q3 results that missed on the net profit line, and which offset a strong outlook statement and a higher-than-expected capex forecast. The lack of a fresh shareholder return program also disappointed. The sector also pulled around by mixed earnings and an overnight post-close decline in Alphabet stock as its quarterly sales disappointed. China tech stocks also under severe pressure with its STAR market losing 4.7% with analysts saying growing competition is adding to valuation concerns.
Elsewhere, South Korea October manufacturing sentiment weakened marginally despite improvements in new order and production components. The RBNZ governor said the chances of a rate hike in December are 'high' just as domestic business confidence improved in October and despite volatility in fuel prices. Ahead Friday, BOJ rate decision with consensus expecting no change, and weekend of politicking ahead of US mid-term elections next week.
Toyota Motor (7203.JP) September car sales fell as the slump in China sales continued, exacerbated by high fuel prices pressing on non EV sales. Bankers in the failed Firmus (+FIRMUS) IPO are to be investigated by the Australia corporate regulator, according to The Australian. Star Entertainment (SGR.AU) has accepted a A$260M anti-money laundering fine but said it won't impact ongoing operations. Samsung Electronics (005930.KS) posted record Q3 profits and gave a strong outlook statement but its chip division missed forecasts. Siam Cement (SCC.TB) and PTT Global (PTTGC.TB) are to merge their petrochemical units in a $5.5B deal.
Digest:
Notable Gainers:
+11.7% 6110.HK (Topsports International Holdings): reports H1 results; revenue ahead of FactSet estimates
+6.0% 6857.JP (Advantest): reports Q2 results with revenue and operating income ahead of StreetAccount estimates; raises FY guidance
+3.5% 1816.HK (CGN Power): reports Q3 results; revenue +17% vs restated year-ago
+2.9% 857.HK (PetroChina): reports Q3 results
+0.9% 7203.JP (Toyota Motor): reports September domestic production +5.8% y/y to 319,195
Notable Decliners:
-18.6% 047040.KS (Daewoo Engineering & Construction): KHNP and Daewoo E&C consortium's talks on Czech Dukovany construction reportedly contract collapse
-14.0% 9901.HK (New Oriental Education & Technology Group): reports Q1 resutls; non-GAAP operating income misses FactSet estimates
-9.8% 6501.JP (Hitachi): reports Q2 results with revenue and adjusted operating income below FactSet estimates
-9.8% 2303.TT (United Microelectronics): reports Q3 results; EPS misses FactSet estimates
-6.4% 6701.JP (NEC Corp): reports Q2 results; headline revenue guidance below FactSet estimates
-4.1% 005930.KS (Samsung Electronics): reports Q3 operating profit KRW107.441T vs preliminary KRW107.40T and StreetAccount KRW109.181T
Data:
Economic:
Australia Q3
Export price Index q/q +1.4% versus consensus +1% and +1.07% in prior quarter
Import price Index q/q (1.1%) versus +5.7% in prior quarter
Markets:
Nikkei: 705.28 or +1.10% to 64659.47
Hang Seng: (136.18) or (0.59%) to 22958.65
Shanghai Composite: (30.04) or (0.82%) to 3651.43
Shenzhen Composite: (60.85) or (2.80%) to 2113.30
ASX200: 44.50 or +0.50% to 8891.80
KOSPI: (74.78) or (1.24%) to 5937.66
SENSEX: 601.17 or +0.82% to 73847.20
Currencies:
$-¥: (0.03) or (0.02%) to 157.8100
$-KRW: (7.02) or (0.52%) to 1334.8800
A$-$: (0.00) or (0.16%) to 0.7044
$-INR: +0.09 or +0.10% to 95.2863
$-CNY: (0.01) or (0.09%) to 6.6604
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