Finance Morning | Tech Stocks Lift Japan, Korea and Taiwan Markets as Global Bonds Come Under Pressure

📊 Asian Markets Today

Note: Mainland China and Hong Kong markets were closed on October 1 for the National Day holiday; the Shanghai, Shenzhen, ChiNext and Hang Seng figures above are closing data from the most recent trading day (September 30).

---

1. Tech stocks lift Japan, Korea and Taiwan markets; STI slips 0.14% on Thursday

Source: Lianhe Zaobao

Chip and artificial-intelligence-related shares pushed Tokyo, Seoul and Taiwan markets higher on Thursday (October 1), but sentiment stayed cautious as bond yields remained elevated, leaving Asia-Pacific markets mixed. Singapore's Straits Times Index slipped 0.14%, or 8.21 points, to close at 5,667.67.

As of about 5:30 pm on Thursday, the MSCI Asia-Pacific index was up 0.10%; Brent crude futures rebounded 2.64% to US$100.62 a barrel. Tokyo, Seoul and Taiwan rose 3.30%, 1.95% and 0.86% respectively, while Hong Kong, Shanghai and Shenzhen were closed for the holiday and most Southeast Asian markets declined.

Phillip Securities stockbroker Teo Chuek Heng noted that Japanese equities rose more than 3% on the back of semiconductor and AI names, with Seoul and Taiwan also gaining, showing investors remain willing to chase tech and AI themes. Still, high bond yields, oil prices and geopolitical tensions are making investors more cautious. US August PCE inflation came in below expectations and the odds of another Fed rate hike in October fell sharply, yet the US 10-year Treasury yield still broke above 5.3%, the highest since 2002.

Source

2. Shares surge over 500%! Memory chip giant posts earnings blowout

Source: 21jingji (21st Century Business Herald)

On September 30 local time, global memory chip giant Micron Technology released its latest fiscal 2026 results, with fourth-quarter revenue beating market expectations. After the report, Micron's shares moved modestly in after-hours trading.

The results showed Micron's fourth-quarter revenue reached US$54.23 billion, up 379% year on year and ahead of expectations; revenue growth in its high-bandwidth memory business outpaced overall revenue growth, and the company has already completed supply agreements for most of next year's high-bandwidth memory, with contracted prices rising notably from this year. For the full year, Micron's fiscal 2026 revenue reached US$133.19 billion, far above US$37.38 billion a year earlier.

Amid tight memory chip supply, Micron's shares have risen more than 270% so far this year and over 500% in the past 12 months, making it one of the standout stocks in the AI infrastructure boom. Management said fiscal 2026 delivered record results and it expects overall operating performance to keep improving in fiscal 2027.

Source

3. Nikkei briefly tops 68,000 intraday, high-tech shares in demand

Source: Kyodo News

Tokyo's Nikkei index surged more than 1,600 points intraday on October 1, at one point topping the 68,000 mark in morning trade — an intraday high not seen in about a month and a half since August 18. High-tech shares were in demand, lifting the broader market, after strong earnings from a major US semiconductor company.

By the end of the morning session, the Nikkei was up 1,602.09 points from the previous close at 68,355.81, while the TOPIX rose 5.32 points to 4,113.97.

US semiconductor giant Micron Technology reported earnings on the morning of October 1 Japan time, indicating expanding AI-driven demand. Expectations of sustained strong results drew buying into related Japanese shares. Overnight gains in US high-tech indexes also supported the Nikkei.

Source

4. Korean stocks stay range-bound; fourth-quarter path in focus

Source: Sina Finance

Citing the Korea Exchange and Yonhap Infomax on October 1, on the last trading day of the third quarter (September 30), the KOSPI closed at 6,838.04, down 32.77 points, or 0.48%, from the previous session. Compared with the year's high of 9,114.55 set on June 22, the KOSPI fell 2,276.51 points, or 25%, over roughly a quarter; yet it was still up 2,623.87 points, or 62.26%, from the end of last year.

Yonhap Infomax data showed that, as of September 30, the consensus estimate for combined third-quarter operating profit of 109 KOSPI-listed companies covered by at least three brokerages was 218.2724 trillion won, up 20.38% quarter on quarter. Electrical and electronics firms led by Samsung Electronics and SK Hynix are expected to post operating profit of 189.1471 trillion won, up 25.16% quarter on quarter.

The US midterm elections are another key variable for fourth-quarter markets. With the November 3 vote approaching, policy news from the Trump administration is having a growing influence on financial markets. Hyundai Motor Securities analyst Kim Jae-seung said fourth-quarter global markets will focus on the IPO of AI company Anthropic and the US midterms. Brokerages have adjusted KOSPI targets: Goldman Sachs maintained 12,000, Macquarie held 8,000, while Samsung Securities cut its fourth-quarter upside target from 12,600 to 8,400.

Source

5. Leapmotor's September global deliveries reach 105,656 units

Source: Sina Finance (t.cj.sina.cn)

On October 1, Leapmotor announced its September global delivery results: 105,656 units, up 59% year on year, marking three consecutive months of monthly sales above 100,000 units. It held its leading position among new-energy vehicle upstarts and ranked among China's top three and the world's top four new-energy brands.

Globalization also accelerated: overseas exports exceeded 27,000 units in September, and cumulative overseas exports in the first nine months topped 150,000 units, meeting its 2026 export target ahead of schedule. By the end of September 2026, Leapmotor's cumulative global deliveries exceeded 1.8 million units, covering more than 45 countries and regions, with over 1,000 sales and service outlets in Europe and registrations ranking among the top three for pure EVs in core European markets such as France, Germany, Italy and Spain.

In October, Leapmotor will showcase its flagship SUV D19 and the new A05, a product of its A platform, at the 2026 Paris Motor Show.

Source

6. Huasheng Intelligent's IPO status changes to registered, one step from listing

Source: Phoenix News

According to a recent disclosure by the Beijing Stock Exchange, the IPO status of Qingdao Huasheng Intelligent Equipment Co. changed from "submitted for registration" to "registered," meaning the CSRC has formally approved its application to publicly issue shares to unspecified qualified investors, leaving the company one step from listing. It plans to raise about 401 million yuan for upgrading its automated equipment manufacturing base, building a marketing network and supplementing working capital.

Public information shows Huasheng Intelligent focuses on R&D, design, production, sales and service of intelligent logistics systems built around automated high-bay warehouses. It took less than ten months from acceptance to registration: its Beijing Stock Exchange listing application was accepted on December 4, 2025; its first public offering was approved by the exchange's listing committee on June 22, 2026; the CSRC issued the registration approval on September 18; and the registration status was updated on September 29.

In terms of performance, revenue from 2023 to 2025 was 637 million, 730 million and 1.0 billion yuan, a three-year compound growth rate of 25.34%, while net profit was 65.87 million, 82.87 million and 119 million yuan, nearly doubling. However, its debt-to-asset ratio remains high, at 79.80%, 84.74% and 81.52% on a consolidated basis from 2023 to 2025, with relatively high industry and customer concentration.

Source

7. Finance Minister: strictly investigate violations of fiscal discipline

Source: Phoenix News

Finance Minister Lan Fo'an said in an article published on October 1 that China will pay more attention to advancing scientific fiscal management and continuously improving the efficiency of fiscal fund use, extending such management from individual points to wider areas and further, and building a management system that reaches every level and every corner.

The article called for strengthening the pooling of fiscal resources and budgets, guiding local governments to orderly revitalize existing assets and resources to concentrate fiscal resources on major tasks, and deepening zero-based budgeting reform by further expanding central government department pilots and guiding local exploration, to establish a budget allocation mechanism that is flexible, dynamic and adjustable.

The article also required strict implementation of the requirement that Party and government organs get used to tightening their belts, saving wherever possible during budget execution, managing official overseas travel, domestic inspections, official receptions and meetings in a strict and tight manner to reduce administrative operating costs and eliminate extravagance and waste, and deepening a three-year action to improve the quality of accounting oversight, strictly investigating violations of fiscal discipline.

Source

8. Systemic reset of overseas interest-rate anchors; China and US bond cycles diverge sharply

Source: Sina Finance

Xinhua Finance, Shanghai, October 1. US and Japanese long-term bond yields continue to rise, with debt-service pressure on developed economies breaking through thresholds, making the "overseas bond market fire" a focus of market concern. This round of overseas bond adjustment is not a localized move driven by a one-sided US Treasury sell-off, but a synchronized repricing of long-end rates across multiple countries, essentially driven by the resonance of inflation expectations, policy-rate expectations and term premia.

Data showed US and Japanese long-term yields continued to rise this week, with the 10-year US Treasury yield breaking above 5.2% intraday on Monday and the 10-year Japanese government bond yield up 1 basis point to 3.085%. Over the past year, the 10-year US Treasury yield has risen about 97 basis points, while Korean yields rose 178 basis points, Japan 145, and Australia and France 114 and 102 respectively. The ICE BofA MOVE index rose to its highest since March, signaling rising bond-market jitters.

In sharp contrast, China's bond market has decoupled. The domestic 10-year government bond yield is running near 1.68%, historically low, diverging sharply from the surge in overseas long-term yields. Industry participants said the core reason for the divergence is the mismatch in internal and external cycles: sticky inflation and high fiscal deficits abroad keep monetary policy tight, while China's economy is recovering moderately with mild inflation pressures and monetary policy stays "self-centered," anchored mainly to domestic fundamentals, real financing demand and interbank liquidity.

Source

9. UK 30-year gilt yield breaks above 6%

Source: Sina Finance

Xinhua Finance, London, October 1. Under the impact of soaring US Treasury yields, UK gilt yields also rose sharply.

On October 1, the UK 30-year gilt yield reached 6.02%, the highest since 1998; the 10-year gilt yield reached 5.48%, the highest since 2007; and the 5-year gilt yield reached 5.03%, the highest since 2008.

The rise in gilt yields is linked internationally to the US Treasury sell-off and domestically to surging living costs driven by higher energy prices. UK inflation has kept rising since July. Although the Bank of England did not raise rates this month, several officials have recently signaled that a hike is imminent. As a result, UK gilt yields rose to their highest in 28 years.

Source

10. New York gold edges up on September 30

Source: Sina Finance

Xinhua Finance, New York, October 1. The most actively traded December 2026 gold futures on the COMEX rose US$9.4 on September 30 to close at US$4,189.1 an ounce, up 0.22%. Silver fell, with December silver futures down 39.8 cents to close at US$60.755 an ounce, a drop of 0.65%.

Soft US inflation data eased pressure on the Fed to tighten policy in the near term. US Commerce Department data showed the core personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge, rose 3.0% year on year in August, unchanged from July and below the expected 3.3%; headline inflation was 3.4%, also below the expected 3.7%. With the inflation report below expectations, the implied probability of a Fed rate hike in October fell to about 40% from about 70% earlier in the week.

Still, high Treasury yields and a firm dollar capped the rebound in gold and silver. The 30-year US Treasury yield jumped 8 basis points to 5.647%, and the 10-year yield rose nearly 7 basis points to 5.302%. Morgan Stanley's metals and mining analysts said gold faces pressure now, but ETF and central bank demand remain strong, and they expect gold to rebound above US$5,000 an ounce within a year.

Source