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WEEKLY MARKET PULSE

Jakota Markets: Past Week in Review

Japan
South Korea
Taiwan
t 2330.TW n 5401.TSE n 6594.TSE
Blue Chip 150
OM 60
Semicon 75
Tech 350
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Last week’s Jakota markets:

  • Japan’s Nikkei 225 gained 0.7% as the auto sector rallied on trade deal clarity with Washington, while accelerating wage growth to 4.1% supported the case for BoJ rate increases
  • South Korea’s KOSPI added 0.6% on Federal Reserve rate cut expectations, with GDP growth revised upward to 0.7% quarterly as the government announced plans to dissolve the Financial Services Commission
  • Taiwan’s TAIEX outperformed with a 1.1% rise led by technology heavyweight Taiwan Semiconductor’s pricing strategy update, against a backdrop of contained inflationary pressures
  • The JAKOTA Blue Chip 150 Index advanced 0.5% with Nippon Steel surging 8.7% after resolving legal disputes over its U.S. Steel acquisition and Nidec plunging on accounting probe concerns

Japan

Japan’s stock market gained ground this week, with the Nikkei 225 climbing 0.7% as automakers drove the advance. The sector rallied after the U.S. finalised a July trade agreement with Japan that caps tariffs on most Japanese exports, including automobiles, at 15%. Under the deal, Tokyo committed to $550 billion in U.S. investments and agreed to expand market access for American producers, particularly in rice and other agricultural products.

Jakota Markets: Past Week in Review: image 1

Investors continued to weigh the Bank of Japan (BoJ)’s next policy move after robust wage data strengthened the case for a rate increase, potentially as early as October. Nominal wages surged 4.1% in July from a year earlier, exceeding forecasts of 3% and accelerating from June’s 3.1% gain. Real wages turned positive for the first time this year.

Jakota Markets: Past Week in Review: image 2

Deputy Governor Ryozo Himino reiterated that the BoJ will lift rates if economic and price trends align with its outlook, noting that while underlying inflation remains below the 2% target, wage gains are expected to maintain momentum and eventually drive inflation to the central bank’s goal.

South Korea

South Korean stocks rose this week, with the KOSPI Index adding 0.6% amid expectations for a Federal Reserve rate cut next month. The Bank of Korea (BOK) reported that the nation’s economy expanded faster than initially estimated in the second quarter, buoyed by stronger exports and higher construction investment. Gross domestic product grew 0.7% from the previous quarter, surpassing July’s preliminary estimate of 0.6%.

Jakota Markets: Past Week in Review: image 3

Meanwhile, South Korea plans to dissolve the Financial Services Commission (FSC) after 17 years as part of a comprehensive restructuring of state agencies and financial regulators. The ruling Democratic Party will propose merging the FSC with the Financial Supervisory Service (FSS), the country’s financial watchdog. Under the plan, the commission would transfer its policy functions to the Ministry of Economy and Finance and be reconstituted as a supervisory body under a new name, the Financial Supervisory Commission.

The FSS would retain responsibility for day-to-day oversight, while its consumer protection unit would be spun off into an independent watchdog with authority to enforce disciplinary actions. The reform is part of the government’s broader effort to strengthen financial oversight.

Taiwan

Taiwan’s stock market advanced this week, with the TAIEX rising 1.1%, driven primarily by gains in key technology stocks. Taiwan Semiconductor led the sector higher after announcing significant price increases for its advanced semiconductor nodes starting in 2026, fuelling optimism in the tech sector.

Jakota Markets: Past Week in Review: image 4

On the economic front, Taiwan’s consumer price index (CPI) rose 1.6% in August, staying below the 2% alert level for the fourth consecutive month.

Jakota Markets: Past Week in Review: image 5

JAKOTA Blue Chip 150 Index

The JAKOTA Blue Chip 150 Index rose 0.5% this week, with 109 of 150 constituents posting gains.

Nippon Steel, Japan’s largest steelmaker and the world’s third largest steel producer, emerged as the top performer with shares jumping 8.7%. The company announced it had resolved all legal disputes with the United Steelworkers union and Cleveland-Cliffs related to its $14.9 billion acquisition of U.S. Steel, which was completed in June.

The settlement covers the dismissal of a lawsuit filed by Nippon Steel, its North America unit and U.S. Steel against USW President David McCall, and the withdrawal of an unfair labour practice charge the union had filed with the National Labor Relations Board.

Jakota Markets: Past Week in Review: image 6

Nidec, a Japanese manufacturer of electric motors, was the worst performer among JAKOTA Blue Chip 150 constituents this week after announcing on Wednesday a probe into allegations of improper accounting within its group. The following day, Nidec’s shares tumbled as much as 22.4%, marking the largest single day decline in the company’s history.

Nidec announced the formation of an independent third party committee following an internal investigation of its Chinese subsidiary, Nidec Techno Motor, which uncovered evidence suggesting the alleged malpractice may be connected to the unit’s management. The company said no financial compensation was exchanged as part of the settlements.

Jakota Markets: Past Week in Review: image 7

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