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ASIA STOCKS: Asian Equities Mostly Higher, Buoyed By Fed Cut, BoJ Holds

ASIA STOCKS
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Asian stocks are set for their best week in a month, buoyed by the Fed's larger-than-expected rate cut and hopes for China’s stimulus. The MSCI Asia Pacific Index rose 1.3%, with a weekly gain of 2.6%, as markets rallied across the region. The HS China Enterprises Index advanced for a sixth session, while Japanese shares gained as the BoJ maintained its steady policy. 

  • China equities are mostly lower, property names are higher after reports that China is considering the of removing home purchase restrictions which boasted property stocks, electric vehicles names were also higher following reports the European Union and China agreed to intensify discussions in a bid to avert looming tariffs ahead of a nearing deadline. HK equities are performing much better with major benchmarks all higher, the HSI is +1.20% led by tech after a rallying in semiconductor stocks overnight.
  • Japanese equities have surged higher to be the top performing market, tech stocks are the top performing sector with Tokyo Electron up 5.60%. The BOJ kept interest rates unchanged, maintaining steady monetary policy and signaling no rush for hikes as it monitors financial markets following July's increase. Meanwhile, Japan's key inflation gauge accelerated for a fourth consecutive month in August.
  • Taiwan & South Korea equities are higher today after the Philadelphia Stock Exchange Semiconductor Index rose 4.27% overnight.  TSMC is 1.77% higher, Samsung +1%, while Hon Hai has recovered some of yesterday's plunge to trade 1.45% higher today
  • Elsewhere, Australia's ASX200 is +0.25%, New Zealand's NZX 50 -0.87%, while Indonesia's JCI dropped 2% on the open after hitting ATH on Thursday.
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Asian stocks are set for their best week in a month, buoyed by the Fed's larger-than-expected rate cut and hopes for China’s stimulus. The MSCI Asia Pacific Index rose 1.3%, with a weekly gain of 2.6%, as markets rallied across the region. The HS China Enterprises Index advanced for a sixth session, while Japanese shares gained as the BoJ maintained its steady policy. 

  • China equities are mostly lower, property names are higher after reports that China is considering the of removing home purchase restrictions which boasted property stocks, electric vehicles names were also higher following reports the European Union and China agreed to intensify discussions in a bid to avert looming tariffs ahead of a nearing deadline. HK equities are performing much better with major benchmarks all higher, the HSI is +1.20% led by tech after a rallying in semiconductor stocks overnight.
  • Japanese equities have surged higher to be the top performing market, tech stocks are the top performing sector with Tokyo Electron up 5.60%. The BOJ kept interest rates unchanged, maintaining steady monetary policy and signaling no rush for hikes as it monitors financial markets following July's increase. Meanwhile, Japan's key inflation gauge accelerated for a fourth consecutive month in August.
  • Taiwan & South Korea equities are higher today after the Philadelphia Stock Exchange Semiconductor Index rose 4.27% overnight.  TSMC is 1.77% higher, Samsung +1%, while Hon Hai has recovered some of yesterday's plunge to trade 1.45% higher today
  • Elsewhere, Australia's ASX200 is +0.25%, New Zealand's NZX 50 -0.87%, while Indonesia's JCI dropped 2% on the open after hitting ATH on Thursday.