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ASIA STOCKS: Asian Equities Edge Lower, Semiconductor Stocks Struggle

ASIA STOCKS
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Asian equities are mixed today, the MSCI Asia Pacific is 0.40i% lower although it has been a quiet session with ranges tight. Japan, South Korea & Australian equities have edged up slightly higher driven by expectations that the Fed may lower interest rates in December after US inflation data aligned with forecasts. China, Hong Kong & Taiwan equities continue to struggle following announcement from Trump he will be appointing people critical of China to key government positions. On the data front, the focus was on Australian employment data which came in below expectations ending 5 consecutive months of more than 30k new jobs.

  • Hong Kong shares slid amid thin volumes as the market stayed open despite signs of severe weather. Shares of Tencent Holdings rose as much as 2.8% after the Chinese tech giant posted better-than-expected earnings. Hong Kong & China Property stocks initially rose after the government announced measures including tax cut for homebuyers and developers, however pared gains with major benchmarks now lower, Mainland Property Index  -2.25%, CSI 300 Real Estate Index -0.50%, BBG China Property Developer Gauge is -1.80%.
  • Asia semiconductor shares continues to sell-off as investors concern grow on  the sector’s outlook after Trump’s win. TSMC -0.50%, SK Hynix -5%, Hon Hai -0.50%, Tokyo Electron is 3.50% lower after Wednesday jump higher following strong earnings, while Samsung is 1.20% higher after hitting four-year lows on Wednesday.
  • Foreign investors continue to sell South Korean equities, in particular Samsung which has seen -$520m of outflows. There has however been buying across Services, Transport & Machinery stocks, the KOSPI has seen net outflows of -$178m so far today.
  • Japan's TOPIX +0.40%, Nikkei +0.10%. Hong Kong's HSI -0.9%, China's CSI 300 -0.30%. South Korea's KOSPI +0.50%. Taiwan's Taiex -0.35%. Australia's ASX200 +0.50%.
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Asian equities are mixed today, the MSCI Asia Pacific is 0.40i% lower although it has been a quiet session with ranges tight. Japan, South Korea & Australian equities have edged up slightly higher driven by expectations that the Fed may lower interest rates in December after US inflation data aligned with forecasts. China, Hong Kong & Taiwan equities continue to struggle following announcement from Trump he will be appointing people critical of China to key government positions. On the data front, the focus was on Australian employment data which came in below expectations ending 5 consecutive months of more than 30k new jobs.

  • Hong Kong shares slid amid thin volumes as the market stayed open despite signs of severe weather. Shares of Tencent Holdings rose as much as 2.8% after the Chinese tech giant posted better-than-expected earnings. Hong Kong & China Property stocks initially rose after the government announced measures including tax cut for homebuyers and developers, however pared gains with major benchmarks now lower, Mainland Property Index  -2.25%, CSI 300 Real Estate Index -0.50%, BBG China Property Developer Gauge is -1.80%.
  • Asia semiconductor shares continues to sell-off as investors concern grow on  the sector’s outlook after Trump’s win. TSMC -0.50%, SK Hynix -5%, Hon Hai -0.50%, Tokyo Electron is 3.50% lower after Wednesday jump higher following strong earnings, while Samsung is 1.20% higher after hitting four-year lows on Wednesday.
  • Foreign investors continue to sell South Korean equities, in particular Samsung which has seen -$520m of outflows. There has however been buying across Services, Transport & Machinery stocks, the KOSPI has seen net outflows of -$178m so far today.
  • Japan's TOPIX +0.40%, Nikkei +0.10%. Hong Kong's HSI -0.9%, China's CSI 300 -0.30%. South Korea's KOSPI +0.50%. Taiwan's Taiex -0.35%. Australia's ASX200 +0.50%.