Asia Equities Mixed, Japan Banks Out-Perform As 2y JGBs Hit Highs

Regional Asian Equities have opened mostly lower to start the week, Japan are again the out-performer in the region.

• Japan equities are higher again today led higher by Bank stocks, Warren Buffet commentary around strong corporate governance and shareholder friendly policies has been seen to be boosting the sector, while the 2Y JGBs hit their highest levels since 2011, boosting expectations for higher profitability, the Topix Bank index is up 2.30% today and 11% for the past month. The Nikkei 225 continues to make new fresh highs up 0.20%.
• South Korean equities slightly lower today, investors remain cautious after the "Corporate Value-up" program fell short of expectations yesterday. Foreign equity inflows are slowly with the 5-day average is now at $65m Vs $322m a week ago, while the 20-day sits at $302m
• Taiwan Equities are lower today, after initial opening higher and making fresh All-time highs. Investors may be looking to book profit ahead of a busy end to the week for global data. Equity inflows are slowing, although still comfortably in positive territory as the 5-day average is now at $242m while the 20-day sits at $482m
• Australian equities also lower today being dragged down by mining and real estate names. Iron Ore prices now down 20% for the year are weighing on the mining sector, the ASX200 is down 0.25% today.
• Elsewhere in SEA, Malaysia equities are the out-performer as the weaker MYR is seen to be supportive to equities, NZ equities down 0.55%, Indonesia down 0.16% while Singapore equities are 0.40% lower.