Asia markets trade unevenly, led by gains in defense stocks

January 09, 2026 (MLN):  Asian markets traded mixed on Friday, with defense stocks surging across the region amid heightened geopolitical tensions and shifting global policy signals.

In South Korea, defense names led gains. Hanwha Aerospace surged as much as 11%, while Poongsan climbed over 6% and Korea Aerospace Industries rose around 5%. Japanese defense-linked shares also advanced, with Kawasaki Heavy Industries up 2.29% and IHI adding 2.14%, CNBC reported.

Broader markets were uneven. China’s CSI 300 edged 0.1% higher after official data showed consumer prices rose 0.8% year on year in December, slightly faster than November’s 0.7% increase.

Producer prices continued to fall, down 1.9% from a year earlier, though the decline was less severe than forecast. Hong Kong’s Hang Seng Index ended flat.

Japanese equities outperformed, with the Nikkei 225 climbing 1.24% and the Topix gaining 0.62%.

Fast Retailing shares jumped more than 7% after the Uniqlo operator reported a roughly one-third increase in quarterly operating profit and raised its full-year outlook.

The company pointed to strong global demand that offset the impact of U.S. tariffs, highlighting solid sales in China and rapid expansion in North America and Europe.

South Korea’s Kospi rose 0.67%, while the tech-heavy Kosdaq was little changed. In Australia, the S&P/ASX 200 hovered just below flat.

Rio Tinto shares fell more than 5% after the miner confirmed early-stage takeover discussions with Glencore, a deal that would create a mining group valued at nearly $207 billion.

U.S. equity futures were steady in early Asian trading as investors awaited a key December jobs report and a possible Supreme Court decision on the legality of President Donald Trump’s tariffs, a ruling that could influence trade policy and fiscal conditions.

Overnight on Wall Street, the Dow Jones Industrial Average gained 0.55%, while investors pared exposure to technology stocks, pushing the Nasdaq Composite down 0.44%. The S&P 500 finished marginally higher, with information technology the weakest-performing sector.

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