MNI: BANXICO CUTS RATES BY 25BPS TO 10.0% AS EXPECTED

NEW CANADA FINANCE MIN SAYS TRUDEAU HAS CABINET'S FULL SUPPORT

MNI BRIEF: Fed To Expand SRF Around Year-End Market Pressures

MNI CNB WATCH: Rate Held At 4.0%; Inflation Rise 'Temporary'

MNI BRIEF: High Bar For Changing 100BP Guidance-BCB's Galipolo

MNI BRIEF: US Nov Existing Home Sales Jumps 4.8% To 4.15M

MNI: US TSY TICS NET FLOWS IN OCT +$203.6B

EZ/UK Bond Supply Calendar: AS, UK, DE Auction on Jan 7

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ASIA STOCKS: Asian Equities Mixed, Yen Falls Supporting Japanese Export Name

ASIA STOCKS
EM BulletAPACEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Asian markets are mixed today driven by multiple global and regional factors. Japanese equities are the top performing market with major benchmarks trading about 1% higher buoyed by a weaker yen, which is supporting exporters. The broader Asia-Pacific region was cautious following hawkish comments from Federal Reserve Chair Jerome Powell, as investors pared back expectations for near-term rate cuts. This led to another move higher in both the USD and front-end tsys yields.

  • China & Hong Kong equities are mixed today. HK listed equities are slightly higher
  • Japanese equities are higher primarily supported by a weaker yen. The yen’s drop came after Japan’s third-quarter GDP data showed economic growth had slowed. Exporters, especially in the automobile and electronics sectors, saw gains as a result, with Toyota contributing significantly to the Topix index’s rise. Additionally, Japan's major banks, including Mitsubishi UFJ and Sumitomo Mitsui, raised their profit forecasts to record levels, further lifting market sentiment.
  • In South Korea, stocks fell, with battery makers leading the decline due to concerns over a potential removal of the US tax credit for electric vehicles under Trump. Samsung has surged and last trades up over 6%, the company did tentatively agree with the union over pay increases. Foreign investors have continued to sell local shares, with a total outflow of $111m so far today. The KOSPI is 0.45% lower, while the KOSDAQ trades down 1.10%.
  • Australian equities edged higher, with the ASX 200 index rising 0.3%, driven by gains in bank and property stocks. Strong domestic banking performance helped lift the index, reflecting confidence in financials despite global uncertainties. New Zealand's NZX50 is 0.30% higher.
267 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Asian markets are mixed today driven by multiple global and regional factors. Japanese equities are the top performing market with major benchmarks trading about 1% higher buoyed by a weaker yen, which is supporting exporters. The broader Asia-Pacific region was cautious following hawkish comments from Federal Reserve Chair Jerome Powell, as investors pared back expectations for near-term rate cuts. This led to another move higher in both the USD and front-end tsys yields.

  • China & Hong Kong equities are mixed today. HK listed equities are slightly higher
  • Japanese equities are higher primarily supported by a weaker yen. The yen’s drop came after Japan’s third-quarter GDP data showed economic growth had slowed. Exporters, especially in the automobile and electronics sectors, saw gains as a result, with Toyota contributing significantly to the Topix index’s rise. Additionally, Japan's major banks, including Mitsubishi UFJ and Sumitomo Mitsui, raised their profit forecasts to record levels, further lifting market sentiment.
  • In South Korea, stocks fell, with battery makers leading the decline due to concerns over a potential removal of the US tax credit for electric vehicles under Trump. Samsung has surged and last trades up over 6%, the company did tentatively agree with the union over pay increases. Foreign investors have continued to sell local shares, with a total outflow of $111m so far today. The KOSPI is 0.45% lower, while the KOSDAQ trades down 1.10%.
  • Australian equities edged higher, with the ASX 200 index rising 0.3%, driven by gains in bank and property stocks. Strong domestic banking performance helped lift the index, reflecting confidence in financials despite global uncertainties. New Zealand's NZX50 is 0.30% higher.