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Asia Equities Trade Higher, As Yields Trend Lower

EQUITIES

Regional Asia Equities are mostly higher this afternoon, following on from the US trading session as yields moved lower and continued that trend in Asia trading, there has been little in way on news flow today.

  • Japan equities indices opened weaker this morning as tech names weighed on the market, after SNAP missed earnings and plunged 20% in late US trading, the tech heavy Nikkei trades 0.20% lower today, recovering some of its early losses, while the Topix is 0.35% higher. In other news, Toyota's market value breaks ¥50 trillion for the first time, while Mitsubishi shares surged after they announced a monster share buy-back program to repurchase up to 10% of their shares.
  • Australia Equities are higher today, after falling for the past two days. Lower US yields are supporting the move higher so far, as the market brushed of the hawkish rate talk from the RBA yesterday. Financials and Mining names are led the move higher today, with the ASX 200 closing 0.45% better. In stock specific news the potential merger between Woodside and Santos has been called off causing Santos equity to fall over 6%.
  • South Korea stocks are higher today, snapping a two-day losing streak. Data out earlier showed SK Dec Current account surplus widen to $7.415B, currently the Kospi is trading 1.00% higher. South Korean equities have seen $220.7mn in offshore inflows in Wednesday trading to date.
  • Elsewhere in SEA, it has been a strong start to trading with most markets trading 0.25-1.00% higher.
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