Market Overview
Asian equity markets displayed a mixed performance on 30 June 2026. The Australian S&P/ASX 200 was flat (+0.04%), Japan’s Nikkei 225 rose 1.39%, Hong Kong’s Hang Seng fell 1.29%, Indonesia’s Jakarta Composite dropped 2.67%, South Korea’s KOSPI gained 1.71%, Thailand’s SET Index edged up 0.25%, China’s Shanghai Composite was unchanged (+0.20%) and the CSI 300 advanced 1.12%. Individual semiconductor stocks also moved, with SK Hynix (000660) up 0.84% and Samsung Electronics (005930) up 3.41% in the session.
Chinese Economic Data
China’s official manufacturing Purchasing Managers’ Index (PMI) for June unexpectedly returned to expansion at 50.3, while the non‑manufacturing PMI rose to 50.2 and the composite PMI climbed to 50.6, signalling continued strength in high‑tech exports. The Shanghai‑Shenzhen CSI 300 index rose more than 1% on the day, whereas the broader Shanghai Composite index was largely unchanged.
Semiconductor‑Driven Quarterly Rally
The quarter closed with an AI‑driven rally in semiconductor equities that powered some of Asia’s strongest quarterly gains in years. Japan’s Nikkei 225 posted a gain of over 1% and is on track for a quarterly increase exceeding 36%. South Korea’s KOSPI, after hitting record highs, is still positioned for an almost 65% quarterly rise after more than doubling year‑to‑date. The MSCI Asia ex‑Japan Net USD index has risen roughly 21% over the past three months, led by South Korea, now the world’s best‑performing major equity market for the year. Samsung Electronics surged nearly 98% during the quarter, while SK Hynix rallied about 225% on robust demand for AI‑focused memory chips. By contrast, Hong Kong’s Hang Seng posted a quarterly decline of about 7.5%, and China’s CSI 300 is up roughly 10% for the quarter.
Regional Highlights
Australia’s ASX 200 remained little changed after the Reserve Bank of Australia’s June meeting minutes reiterated a cautious stance on inflation and signalled that policy adjustments would depend on incoming data. Indonesia’s Jakarta Composite fell about 2.7%, extending its underperformance as foreign investors withdrew capital amid concerns over policy credibility, market transparency, and a potential MSCI downgrade; the index is now the worst‑performing major Asian equity index this year. In Japan, industrial production in May rose less than expected and unemployment held steady, indicating a gradual economic normalisation. The Philippines saw trade and inflation data released, with oil price volatility highlighted as a key risk for its import‑dependent economy. Thailand’s industrial production data pointed to continued softness, leaving the SET Index largely unchanged, while the Philippines’ PSEi Composite slipped 0.9%.
Upcoming Catalysts
Investors will turn attention later in the day to European inflation releases, U.S. consumer confidence, and JOLTS job openings data, ahead of Thursday’s U.S. non‑farm payrolls report. Market participants will also monitor remarks from Federal Reserve Chair Kevin Warsh on Wednesday, further developments in U.S.–Iran negotiations, and India’s trade‑balance figures and RBI credit‑review outcomes as the third quarter approaches.
Reporting by Roushni Nair