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StreetAccount Summary - Asian Market Recap: Nikkei (5.96%), Hang Seng (1.27%), Shanghai Composite (1.10%) as of 03:10 ET

Nov 06 ,2026

  • Synopsis:

    • Asia equities ended sharply lower Friday although benchmarks largely closed away from their lows. There were steep declines in South Korea, Taiwan and Japan's two main boards with all three nearing a 10% decline at one point in early trading before recovering. Greater China stocks were lower but again off their troughs. Shallower declines for Australia, Singapore and Southeast Asia. India stocks bucking the trend again to trade higher. Nasdaq and S&P500 futures higher, Dow still lower; Europe sharply lower in opening trades. US dollar higher, AUD and NZD back under pressure, yen and won also weaker, and the Taiwan dollar fell sharply. Treasury and JGB yields lower. Crude futures higher with Brent just below $99/bl. Precious metals losing yesterday's gains. Base metals mixed. Cryptocurrencies opened sharply lower but now positive.

    • Asia's technology selloff deepened Friday with many benchmarks seeing years-long record declines in the morning session before a modest recovery in the afternoon. A poor handover from the US was the principal catalyst, itself caused by fresh doubts over the AI build out following the sweeping win by Democrats in this week's mid-term elections. The Kospi, Taiex and Nikkei 225 indexes were down near 10% at one point, triggering a trading halt in Seoul before authorities announced they would suspend some margin rules to stop the slide. There were substantial declines in several large-cap tech names although again many closed away from their lows: Samsung Electronics (005930.KS), SK Hynix (000660.KS), TSMC (2330.TT), Advantest (6857.JP), SoftBank (9984.JP) and Kioxia (285A.JP) were among the day's underperformers. Currencies also came under pressure with the won and Taiwan dollar under pressure as overseas investors exited while the yen initially strengthened before paring gains.

    • In contrast defensive and value names outperformed including Australia financials and utilities, Hong Kong oil & gas and bank names, and China financials. And India's two main benchmarks outperformed again by posting more gains. Other safe-haven assets outperformed as sovereign bond yields fell, including CGBs which touched a record low briefly and, while gold initially spiked, it too sold off eventually. Weekly performance largely mirrored Friday's trajectory ex China: there were double-digit percent losses for the Kospi and Taiex, a 9% decline for the Nikkei, small gains for mainland China and outperformance in Hong Kong; Australia, emerging Southeast Asia and especially India also all outperformed.

    • Qantas (QAN.AU) has increased fares and made more schedule cuts in response to higher fuel prices. Macquarie Group (MQG.AU ) H1 profits rose on a surge in commodity trading but a regulatory breach from 2019 and likely fine still hangs over the bank. Adani Ports (532921.IN ) is to purchase the Netherlands-based storage operator Evos in a deal worth $2.88B. Nippon Steel (5401.JP ) raised its FY26 profit forecast by more than 50% on US Steel earnings.

  • Digest:

    • Notable Gainers:

      • +6.9% S08.SP (Singapore Post): reports H1 adjusted net income SG$11.5M vs year-ago SG$5.5M

      • +5.2% 2331.HK (Li Ning): declares special dividend CNY2.32/share

      • +4.3% 1347.HK (Hua Hong Grace Semiconductor): reports Q3 results; revenue and net income ahead of FactSet estimates

      • +2.0% 7956.JP (Pigeon): reports H1 results; raises FY operating profit guidance

      • +1.5% 6367.JP (DAIKIN INDUSTRIES): reports H1 results ahead of guidance; raises FY outlook

    • Notable Decliners:

      • -19.3% 2914.JP (Japan Tobacco): confirms four Russian manufacturing entities have been placed under temporary administration

      • -17.3% 071050.KS (Korea Investment Holdings Co.): reports Q3 results; operating profit misses FactSet estimates

      • -11.4% 4902.JP (Konica Minolta): reports H1 results; net income (21%) y/y

      • -10.2% 161890.KS (Kolmar Korea): reports Q3 results; revenue and operating profit miss StreetAccount estimates

      • -7.9% 7974.JP (Nintendo): reports H1 results; revenue (12%) y/y

      • -3.8% 6880.HK (Momenta Global): to form CNY300M intelligent driving JV with SAIC Motor, Yandian Technology, taking 51% stake

  • Data:

    • Economic:

      • Japan September

        • Average nominal wages +4.6% y/y vs consensus +3.8% and revised +3.9% in prior month

          • Real wages +2.2% y/y vs consensus +1.3% and revised +1.6% in prior month

    • Markets:

      • Nikkei: (3,643.13) or (5.96%) to 57434.77

      • Hang Seng: (315.12) or (1.27%) to 24481.86

      • Shanghai Composite: (40.73) or (1.10%) to 3649.18

      • Shenzhen Composite: (49.22) or (2.25%) to 2134.88

      • ASX200: (44.30) or (0.49%) to 9020.80

      • KOSPI: (324.11) or (6.02%) to 5059.69

      • SENSEX: 907.79 or +1.14% to 80217.80

    • Currencies:

      • $-¥: +0.19 or +0.12% to 157.8700

      • $-KRW: (4.29) or (0.32%) to 1353.9100

      • A$-$: (0.01) or (0.87%) to 0.6870

      • $-INR: (0.44) or (0.47%) to 94.0170

      • $-CNY: (0.01) or (0.07%) to 6.6732

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