September 17, 2024 03:19 GMT
ASIA STOCKS: Asian Equities Mixed, Yen Weighs On Japanese Stocks
ASIA STOCKS
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- Markets are trading mixed today as investors focus on upcoming monetary policy decisions from the Fed and BoJ. In Japan, the Nikkei 225 fell 2%, driven by a sell-off in semiconductor and tech stocks following the decline in the Nasdaq, while the stronger yen continues to weigh on export-oriented companies like automakers and electronics firms.
- In Hong Kong, the debut of Midea Group shares saw a strong surge, reflecting revived hopes for the city’s stock market. Property stocks have seen a bit of a bounce, although we still trade near all time lows (Mainland Property Index +1.25%, HS Property Index +2.50%) with investors hoping lower US rates will spur a rebound in the struggling sector, the HS Tech Index trades +1.25%, HS Mainland Banks Index is +1.90% while the HSI is +1.40% and the China Enterprise Index is also +1.40%
- Australia Equities are slightly higher today, Real Estate names are the top performing. The ASX200 is 0.30% higher.
- China, South Korea & Taiwan all have public Holidays today with equity markets closed.
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