[MARKET ANALYSIS] Asia-Pac equities entirely in the green, SK Hynix prepares for US IPO

Newsquawk Staff · 10 Jul 2026, 03:18 UTC

Asia-Pac stocks trade entirely in the green, following the tech-led gains seen stateside. Strikes continued on Thursday, but energy prices and equity markets seemed to have brushed it aside and instead took a stronger liking to President Trump’s comments, in which he said Iran had reached out to the US and wanted to make a deal, easing concerns over a further escalation that could threaten energy infrastructure. To note, the Taiwan markets are closed due to the typhoon.
ASX 200 initially opened with modest losses but has since reversed and prints modest gains. Metals & Mining tops the sector pile, cutting 4 consecutive days of losses, while Health Care is the sector laggard.
Nikkei 225 gains, with SUMCO leading the way as it benefits from the semiconductor strength stateside. On the earnings front, Seven & I and Fast Retailing both posted strong earnings and raised their FY guidance; however, shares are lower after highlighting the effects of a weaker yen.
KOSPI surges, helped by gains in Samsung Electronics while SK Hynix shares trades choppy ahead of its US ADR listing today. The choppiness in SK Hynix comes as investors position themselves for the ADR, with analysts stating that the US ADR may be preferred over its domestic listing. It is common that US ADRs of Asian companies trade at a premium, typically at a 5-15% premium. Additionally, SK Hynix trades at a discount in comparison to Micron (12-month forward P/E of 5.5 vs Micron’s 6.6).
Shanghai Comp. and Hang Seng. are firmer, with another set of IPOs in Hong Kong, resulting in 15 listings this week. Today, markets focused on Nexchip Semiconductor. The IPO price was set at HKD 32.30/shr, and shares rose at the open and briefly topped HKD 36/shr but have since come off.
US equity futures are softer across the board, albeit very modestly. Thursday’s session was another big day of tech announcements; Micron revealed a USD 3bln investment to strengthen US semiconductor supply chains, while Meta unveiled a paid AI developer model.
European equity futures are indicative of a mixed open with the Euro Stoxx 50 future -0.1% after cash closed +1.3% on Thursday.

What our latest note said

US Market Open, 21 Oct, 10:29 UTC · what it led with

Pakistan Army Chief Munir brought the "final warning" from the United States to Iranian officials, which called on Iran to submit to the US demands for concessions on the nuclear issue before taking any other steps.
The UK government has approved the Jackdaw North Sea gas field.

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