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ASIA STOCKS: Asian Equities Edges Higher Following Bessent Nomination

ASIA STOCKS
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Asian equity markets are broadly higher today, driven by optimism over US economic resilience and favorable policy expectations under the incoming Trump administration. Japanese stocks gained as exporters and domestic demand-related sectors, such as rail operators, advanced on strong U.S. business activity data and activist fund interest. In China, modest gains reflect relief over a measured Treasury Secretary nomination, though concerns linger over the need for stronger stimulus to sustain momentum after a tech-driven selloff last week. Australian shares hit a record high, led by property and mining sectors. South Korea's KOSPI climbed, supported by institutional buying and gains in tech heavyweights like Samsung Electronics. Meanwhile, renewable energy stocks across Asia rose after COP29 agreements on increased climate funding.

  • Hong Kong listed equities are slightly outperforming mainland China equities with the HSI +0.25%, while the CSI 300 trades just +0.10%. Chinese tech stocks are still struggling somewhat with the CSI 300 Tech Index -1.70%, while the HSTech Index trades flat.
  • Asia semiconductor stocks have jumped higher with the BBG Asia Semiconductor Index up 1%, led by a 3.80% jump from Tokyo Electron and a 2.50% move higher from Samsung.
  • Foreign investors were better buyers of South Korean stocks on Friday and have continued to buy although only smalls this morning, however the region has seen outflows of $2b over the past two weeks.
  • US equity futures are trading higher today, with gains coming on the back of the nomination of Scott Bessent as Treasury Secretary. Dow futures +0.57%, S&P 500 +0.45% while NASDAQ 100 futures are +0.53%
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Asian equity markets are broadly higher today, driven by optimism over US economic resilience and favorable policy expectations under the incoming Trump administration. Japanese stocks gained as exporters and domestic demand-related sectors, such as rail operators, advanced on strong U.S. business activity data and activist fund interest. In China, modest gains reflect relief over a measured Treasury Secretary nomination, though concerns linger over the need for stronger stimulus to sustain momentum after a tech-driven selloff last week. Australian shares hit a record high, led by property and mining sectors. South Korea's KOSPI climbed, supported by institutional buying and gains in tech heavyweights like Samsung Electronics. Meanwhile, renewable energy stocks across Asia rose after COP29 agreements on increased climate funding.

  • Hong Kong listed equities are slightly outperforming mainland China equities with the HSI +0.25%, while the CSI 300 trades just +0.10%. Chinese tech stocks are still struggling somewhat with the CSI 300 Tech Index -1.70%, while the HSTech Index trades flat.
  • Asia semiconductor stocks have jumped higher with the BBG Asia Semiconductor Index up 1%, led by a 3.80% jump from Tokyo Electron and a 2.50% move higher from Samsung.
  • Foreign investors were better buyers of South Korean stocks on Friday and have continued to buy although only smalls this morning, however the region has seen outflows of $2b over the past two weeks.
  • US equity futures are trading higher today, with gains coming on the back of the nomination of Scott Bessent as Treasury Secretary. Dow futures +0.57%, S&P 500 +0.45% while NASDAQ 100 futures are +0.53%