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ASIA: Asian Equities, Tracking Gains In The US, China Returns Tomorrow

ASIA
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Asian stocks advanced broadly on Monday, buoyed by optimism following stronger-than-expected U.S. job data. The U.S. labor market's resilience has raised hopes for a soft landing and fueled Wall Street's rally, which spilled over into Asian markets.

  • Goldman Sachs upgraded Chinese equities to "overweight," projecting an additional 15%-20% rise in key indices like the MSCI China and CSI 300, assuming Beijing follows through on its stimulus policies. With mainland Chinese markets reopening on Tuesday, foreign investors are expected to increase buying through the stock connect program.
  • Japanese equities have jumped higher driven by gains exporters and financials. The yen hit a lows of 149.13 vs USD before comments from the Currency Chief saw some support for the currency, it currently trades 0.16% at 148.46. Financials rallied after Japan's 10-year bond yield hit a one-month high following Rinban operations and comments from Japan's FinMin where he said monetary policy specifics should be left to the BOJ. The Nikkei is +2.15%, slightly outperforming the TOPIX +1.90%
  • HSI is +1.15%, with equity turnover elevated due to expectations of strong inflows when mainland China markets reopen. Property stocks have struggled today with the Mainland Property Index -1.30%, while most other sectors trade higher.
  • SK & Taiwan equities both trade higher with their respective Large-cap tech stocks outperforming, led by SK Hynix +5.20% although Foreign investors have again been better sellers of SK equities in particular Tech stocks.
  • Elsewhere, Australia's ASX 200 +0.65% and Philippines PSEi +1.80% are the top performers.
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Asian stocks advanced broadly on Monday, buoyed by optimism following stronger-than-expected U.S. job data. The U.S. labor market's resilience has raised hopes for a soft landing and fueled Wall Street's rally, which spilled over into Asian markets.

  • Goldman Sachs upgraded Chinese equities to "overweight," projecting an additional 15%-20% rise in key indices like the MSCI China and CSI 300, assuming Beijing follows through on its stimulus policies. With mainland Chinese markets reopening on Tuesday, foreign investors are expected to increase buying through the stock connect program.
  • Japanese equities have jumped higher driven by gains exporters and financials. The yen hit a lows of 149.13 vs USD before comments from the Currency Chief saw some support for the currency, it currently trades 0.16% at 148.46. Financials rallied after Japan's 10-year bond yield hit a one-month high following Rinban operations and comments from Japan's FinMin where he said monetary policy specifics should be left to the BOJ. The Nikkei is +2.15%, slightly outperforming the TOPIX +1.90%
  • HSI is +1.15%, with equity turnover elevated due to expectations of strong inflows when mainland China markets reopen. Property stocks have struggled today with the Mainland Property Index -1.30%, while most other sectors trade higher.
  • SK & Taiwan equities both trade higher with their respective Large-cap tech stocks outperforming, led by SK Hynix +5.20% although Foreign investors have again been better sellers of SK equities in particular Tech stocks.
  • Elsewhere, Australia's ASX 200 +0.65% and Philippines PSEi +1.80% are the top performers.