The Market ThesisDaily Summary
Asia & Pacific Edition
October 28, 2026 at 5:30 AM ET
By MacroGlide's Analysts
Markets Recap for October 27, 2026
Nikkei Rises on Strong Earnings; Pop Mart Sales Plunge
What's in the markets today?
The Nikkei 225 climbed 1.73% today, driven by strong earnings from major companies. Canon reported an EPS of $0.568. In contrast, Pop Mart saw its sales drop by up to 50% as demand for its Labubu dolls wanes. Meanwhile, the Hang Seng Index fell 0.73% amid broader market pressures. Investors are closely watching upcoming central bank meetings for further direction.
Benchmark Moves
Japan’s Nikkei 225 climbed 1.73% to 63,268.15, while WTI crude oil fell 1.83% to $99.90. Lower oil prices help reduce input costs for exporters, which can lift margins for manufacturing-heavy indexes like the Nikkei. Hong Kong’s Hang Seng Index slipped 0.73% to 23,041.32, receiving less benefit from cheaper oil as financials and tech firms are less directly exposed to energy costs. This keeps broad market outperformance tilted toward regional indexes with greater exposure to export manufacturing when oil declines.
Market data as of Oct 27, 2026 at 4:00 PM ET.
Market data as of Oct 27, 2026 at 4:00 PM ET.
Market data as of Oct 27, 2026 at 5:00 PM ET.
Key Financial Reports
Asia's earnings reports showed a mix of modest profits and continued losses. Canon (CAJPY) posted an EPS of 0.568, while Nitto Denko (NDEKY) and Capcom (CCOEY) saw EPS of 0.409 and 0.105, respectively. Wave Life Sciences (WVE) reported an EPS loss of -0.3, but highlighted progress in trials, growing collaboration revenue, and an extended cash runway, even as higher expenses weighed on results. This mix of improving fundamentals for some and persistent costs for others indicates that regional earnings momentum depends on companies holding cost discipline and advancing key business milestones.
EPS reported on October 27, 2026 ET. Figures use each company's reported basis.
Key Macroeconomic Reports
Recent economic indicators suggest resilience in Japan's economy. The Services Producer Price Index rose to 3.7%, indicating stable pricing pressures. Meanwhile, China's industrial profits increased by 15.5%, reflecting ongoing growth despite economic divergence. These trends point to a complex economic landscape that may influence future monetary policy.
Macroeconomic data released on October 26, 2026 ET.
Top Stories
A quick look at the five stories that shaped today's market sentiment. Explained with brief context highlighting why each story mattered today.
Source: CNBC — Asia Pacific
Bank of Japan is expected to hold rates this week — but stay hawkish: CNBC survey
The Bank of Japan is expected to keep its policy rate at 1.25% during its upcoming meeting, according to a CNBC survey of 16 economists. All respondents anticipate the BOJ will prepare for a potential rate hike in December or January as inflation and wages rise. Japan's core inflation reached 2.1% in September, the highest this year, while inflation-adjusted wages increased by 1.5% in August. Analysts suggest that while the BOJ may meet its 2% inflation target, there may not be enough consensus for consecutive rate hikes.
Source: CNBC — Asia Pacific
China industrial profits post strongest growth in three months as tech boom widens economic divide
China's industrial profits rose by 14.4% in September from a year earlier, marking the strongest growth since June. For the first nine months of 2026, profits increased by 15.5%, slightly below the previous period's 15.7% rise. This growth is attributed to a boom in AI-related manufacturing despite weak domestic demand. High-tech sectors, particularly electronics, saw significant profit increases, while consumer-related industries faced challenges amid a consumption slump.
Source: Nikkei Asia
Microsoft offers buyouts to 60,000 employees as AI spending mounts
Microsoft is offering voluntary buyouts to about 60,000 employees, which represents over a quarter of its global workforce. This move is part of the company's strategy to manage costs while investing heavily in artificial intelligence. The tech giant is facing scrutiny from investors regarding its substantial financial commitments towards AI data centers and chips. The buyout offer reflects Microsoft's efforts to streamline operations amid its significant spending on AI initiatives.
Source: CNBC — Asia Pacific
The 'stablecoin sandwich': Why speeding up payments isn't so simple, according to Mastercard
Mastercard highlights the challenges of using stablecoins for faster payments, emphasizing the need for improved infrastructure. Stablecoins, pegged to assets like the U.S. dollar, could enhance payment efficiency, but a connection between payment systems and stablecoin exchanges is necessary. Matthew Driver, Mastercard's executive vice president for Asia Pacific, noted that stablecoins may have limited applications in consumer transactions but could benefit corporate payments. Mastercard is also expanding its digital asset involvement, including the Global Money Platform.
Source: Australian Financial Review
Octopus buys Victorian wind farm in $2b-plus deal
Octopus, a renewables developer backed by Japan’s Government Pension Investment Fund and Dutch pensions giant APG, has agreed to acquire the Golden Plains Wind Farm 2 in Victoria for over $2 billion. This wind farm is recognized as the largest of its kind in the southern hemisphere, having begun construction two years ago. The acquisition will give Octopus full ownership of the project, furthering its investment in renewable energy. The deal reflects the growing interest in sustainable energy solutions.
Other Headlines
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Asia & Pacific Edition
October 28, 2026 at 5:30 AM ET
Markets Recap for October 27, 2026
Nikkei Rises on Strong Earnings; Pop Mart Sales Plunge
What's in the markets today?
The Nikkei 225 climbed 1.73% today, driven by strong earnings from major companies. Canon reported an EPS of $0.568. In contrast, Pop Mart saw its sales drop by up to 50% as demand for its Labubu dolls wanes. Meanwhile, the Hang Seng Index fell 0.73% amid broader market pressures. Investors are closely watching upcoming central bank meetings for further direction.
Benchmark Moves
Japan’s Nikkei 225 climbed 1.73% to 63,268.15, while WTI crude oil fell 1.83% to $99.90. Lower oil prices help reduce input costs for exporters, which can lift margins for manufacturing-heavy indexes like the Nikkei. Hong Kong’s Hang Seng Index slipped 0.73% to 23,041.32, receiving less benefit from cheaper oil as financials and tech firms are less directly exposed to energy costs. This keeps broad market outperformance tilted toward regional indexes with greater exposure to export manufacturing when oil declines.
Indexes
Detailed View →Market data as of Oct 27, 2026 at 4:00 PM ET.
Stocks
Detailed View →Market data as of Oct 27, 2026 at 4:00 PM ET.
Commodities & Crypto
Detailed View →Market data as of Oct 27, 2026 at 5:00 PM ET.
Key Financial Reports
Asia's earnings reports showed a mix of modest profits and continued losses. Canon (CAJPY) posted an EPS of 0.568, while Nitto Denko (NDEKY) and Capcom (CCOEY) saw EPS of 0.409 and 0.105, respectively. Wave Life Sciences (WVE) reported an EPS loss of -0.3, but highlighted progress in trials, growing collaboration revenue, and an extended cash runway, even as higher expenses weighed on results. This mix of improving fundamentals for some and persistent costs for others indicates that regional earnings momentum depends on companies holding cost discipline and advancing key business milestones.
Earnings Per Share (EPS)
Detailed View →EPS reported on October 27, 2026 ET. Figures use each company's reported basis.
Key Macroeconomic Reports
Recent economic indicators suggest resilience in Japan's economy. The Services Producer Price Index rose to 3.7%, indicating stable pricing pressures. Meanwhile, China's industrial profits increased by 15.5%, reflecting ongoing growth despite economic divergence. These trends point to a complex economic landscape that may influence future monetary policy.
Macroeconomic Data
Detailed View →Macroeconomic data released on October 26, 2026 ET.
Top Stories
A quick look at the five stories that shaped today's market sentiment. Explained with brief context highlighting why each story mattered today.
Bank of Japan is expected to hold rates this week — but stay hawkish: CNBC survey
The Bank of Japan is expected to keep its policy rate at 1.25% during its upcoming meeting, according to a CNBC survey of 16 economists. All respondents anticipate the BOJ will prepare for a potential rate hike in December or January as inflation and wages rise. Japan's core inflation reached 2.1% in September, the highest this year, while inflation-adjusted wages increased by 1.5% in August. Analysts suggest that while the BOJ may meet its 2% inflation target, there may not be enough consensus for consecutive rate hikes.
Source: CNBC — Asia Pacific
China industrial profits post strongest growth in three months as tech boom widens economic divide
China's industrial profits rose by 14.4% in September from a year earlier, marking the strongest growth since June. For the first nine months of 2026, profits increased by 15.5%, slightly below the previous period's 15.7% rise. This growth is attributed to a boom in AI-related manufacturing despite weak domestic demand. High-tech sectors, particularly electronics, saw significant profit increases, while consumer-related industries faced challenges amid a consumption slump.
Source: CNBC — Asia Pacific
Microsoft offers buyouts to 60,000 employees as AI spending mounts
Microsoft is offering voluntary buyouts to about 60,000 employees, which represents over a quarter of its global workforce. This move is part of the company's strategy to manage costs while investing heavily in artificial intelligence. The tech giant is facing scrutiny from investors regarding its substantial financial commitments towards AI data centers and chips. The buyout offer reflects Microsoft's efforts to streamline operations amid its significant spending on AI initiatives.
Source: Nikkei Asia
The 'stablecoin sandwich': Why speeding up payments isn't so simple, according to Mastercard
Mastercard highlights the challenges of using stablecoins for faster payments, emphasizing the need for improved infrastructure. Stablecoins, pegged to assets like the U.S. dollar, could enhance payment efficiency, but a connection between payment systems and stablecoin exchanges is necessary. Matthew Driver, Mastercard's executive vice president for Asia Pacific, noted that stablecoins may have limited applications in consumer transactions but could benefit corporate payments. Mastercard is also expanding its digital asset involvement, including the Global Money Platform.
Source: CNBC — Asia Pacific
Octopus buys Victorian wind farm in $2b-plus deal
Octopus, a renewables developer backed by Japan’s Government Pension Investment Fund and Dutch pensions giant APG, has agreed to acquire the Golden Plains Wind Farm 2 in Victoria for over $2 billion. This wind farm is recognized as the largest of its kind in the southern hemisphere, having begun construction two years ago. The acquisition will give Octopus full ownership of the project, furthering its investment in renewable energy. The deal reflects the growing interest in sustainable energy solutions.
Source: Australian Financial Review
Other Headlines
Victorian Labor promises stamp duty waiver in pitch to small business
Nidec to sue founder for role in Japan’s biggest accounting fraud in a decade
Business warns Cook’s 75pc green grid target leaves industry exposed
India’s outsourcers defy AI threat
Funding the infrastructure that drives the AI economy
Pop Mart sales fall up to 50% as Labubu fever ebbs
Victoria ranked the worst state to do business for third year running
Pop Mart's revenue halves in Q3 as Labubu craze cools
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