October 14, 2024 03:16 GMT
ASIA: Asian Equities Edge Higher, Focus On China
ASIA
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- Equity markets are mostly higher today with Taiwan, South Korea & Australian benchmarks all trading higher, while NZ, China & Hong Kong equities struggle. Japan is out for a public holiday while China equities have seen increased volatility as China briefing kicks off.
- South Korean equities have seen mixed flows from foreign investors, there has been better buying seen in tech & banking stocks while healthcare, Services & Transport names seeing outflows. The large-cap KOSPI is trading +0.65%, while the small-cap KOSDAQ is down 0.65%.
- Australian equities are higher today with the ASX200 up 0.55%. Mining stocks led gains, with Fortescue up 2.3% and BHP adding 0.9%, while the big four banks also traded higher. Web travel group has plummeted 33% following weak guidance.
- New Zealand equities are lower today after Fisher & Pykel & Infratil both fell over 1%, offsetting gains in WBC & ANZ. The NZ50 is 0.60% lower.
- The local APAC calendar is light on today, with focus largely just on China. The US will be out today for Columbus day which is having an impact on trading ranges, investors also remain cautious surrounding escalations in the middle east.
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