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

ASIA STOCKS
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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.
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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.