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Informist, Tuesday, Feb. 17, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Most Asian mkts closed for Lunar New Year; Japan indices down

 

MUMBAI--0745 IST--Most Asian stock markets such as in Mainland China, Hong Kong, Taiwan, Singapore, and South Korea were closed Tuesday on account of Lunar New Year. The US markets were closed Monday on account of President's Day. The Australian S&P/ASX 200 Index was higher but indices in Japan were down.

 

Indices in Japan were under pressure coming off a session marred by unsatisfactory GDP numbers for the country. The country's economy grew 0.2% on year in the December quarter and was far below the 1.6% growth forecast. The economy barely recovered from the 2.6% contraction seen in the previous quarter, Reuters reported. The Bank of Japan has scheduled its next meeting in March as traders forecast a slim possibility of a rate hike. The central bank is expected to wait until July before it tightens its policy again, according to Economists polled by Reuters.

 

"It shows that the economy's recovery momentum is not very strong," Meiji Yasuda Research Institute economist Kazutaka Maeda was quoted as saying. "Consumption, capital expenditure and exports - areas we hoped would drive the economy - just haven't been as strong as we expected," Maeda added. "The market has likely assumed that softer GDP data in the fourth quarter will encourage PM Takaichi's plans to offer additional fiscal support and reduce the sales tax on food," analysts from National Australia Bank were reported as saying in a note. 

 

In Australia, the country's central bank said inflation would stay persistently high had it not hiked interest rates this month, Reuters reported. The bank also said it was not sure if further tightening would be required.

 

Crude oil prices rose ahead of talks between the US and Iran to de-escalate tensions. Iran's Revolutionary Guards performed a drill in the Hormuz Strait Monday, a day before the nuclear negotiations. The Hormuz Strait accounts for 20% of global oil shipments. Global uncertainties have left markets unsure as investors adopt a cautious approach due to the pending talks between the US and Iran and the Ukraine negotiations this week, analysts from ANZ were reported as saying. "Speculative positions have been increasing in recent weeks. If tension in the Middle East eases or meaningful progress is made on the Ukraine war, the risk premium currently built into oil prices could swiftly unwind," they added.

 

Following are the levels of key Asian indices at 0746 IST:

 

INDEX	LEVEL	CHANGE IN %
Nikkei 225 Day	56376.77	(-)0.76
TOPIX FIRST SECTION	3759.98	(-)0.72
S&P/ASX 200 Index	8966.20	0.33

 

(Akshat Saksena)

 

US$1 = INR 90.65

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Vandana Hingorani

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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