TRUDEAU SAYS `WE HAVE A LOT OF WORK TO DO'

MNI BRIEF: Canada NDP Will Bring Nonconfidence Motion In Jan.

CANADA NDP SAYS WILL INTRODUCE NONCONFIDENCE MOTION

MNI China Daily Summary: Friday, December 20

MNI: PBOC Net Drains CNY103.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1901 Fri; -2.13% Y/Y

EZ/UK T-Bill Calendar: Greece to Sell Bills Monday

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI: BELGIUM DEC BNB BUSINESS CONFIDENCE -13.8

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 Mostly Higher, China Stocks Struggle

ASIA STOCKS
EM BulletFixed Income BulletsBulletAPACEmerging Market NewsForeign Exchange BulletsMarkets

Asian equities are mostly higher today, tracking gains made overnight in the US following renewed optimism about Nvidia’s growth prospects, while crypto continues to tick higher with bitcoin now eyeing $100,000. China 7 Hong Kong equities have struggled following poor results from Baidu.

  • Japan did report CPI at 2.3% y/y for October, Jibun Bank PMI was mixed with Mfg dropping to 49.0 from 49.2, although services PMI rose to 50.2 from 49.7, while equities pushed higher ahead of a $140b government stimulus announcement, and a slight strengthening of the yen following comments from Bank of Japan Governor Kazuo Ueda limited further gains. The TOPIX is 0.65% higher, while the Nikkei trades up 0.90%.
  • China & Hong Kong equities have struggled today, with property the worst performing sector, the Mainland Property Index is down 2.30%, while tech stocks struggle following Baidu's shares dropping sharply following a revenue decline, adding to weakness in the sector following on from Alibaba’s lackluster performance after its recent earnings report. The CSI 300 is 1% lower, while the HSI is trading 1.30% lower.
  • South Korean equities are higher as, SK Hynix surges 5% benefitting from the Philadelphia SE Semiconductor Index trading 1.60% higher overnight, Samsung which is trading just off four-year lows is trading unchanged. The KOSPI is 1% higher, while the KOSDAQ is 0.50% lower. Taiwan equities have also benefitted from higher global semiconductor prices with TSMC jumping 3%, which has helped the TAIEX rise 1.70%.
  • Australia's ASX 200 is trading 0.95% higher, with Financials contributing the most to the index gains, tech stocks in Australia are struggling following Wisetech dropping 12% following disappointing earnings guidance. In New Zealand, the NZX50 jumped 2.20%, following Fisher & Paykel jumping 4.30% and A2Milk jumping 18%.
  • Asian EM equities are mostly higher, India is up 1% however trades 10% off cycle highs following consistent selling from foreign investors recently, elsewhere Indonesia's JCI is up 0.80%, while Philippines PSEi is the worst performing with the index down 0.95%.
324 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 equities are mostly higher today, tracking gains made overnight in the US following renewed optimism about Nvidia’s growth prospects, while crypto continues to tick higher with bitcoin now eyeing $100,000. China 7 Hong Kong equities have struggled following poor results from Baidu.

  • Japan did report CPI at 2.3% y/y for October, Jibun Bank PMI was mixed with Mfg dropping to 49.0 from 49.2, although services PMI rose to 50.2 from 49.7, while equities pushed higher ahead of a $140b government stimulus announcement, and a slight strengthening of the yen following comments from Bank of Japan Governor Kazuo Ueda limited further gains. The TOPIX is 0.65% higher, while the Nikkei trades up 0.90%.
  • China & Hong Kong equities have struggled today, with property the worst performing sector, the Mainland Property Index is down 2.30%, while tech stocks struggle following Baidu's shares dropping sharply following a revenue decline, adding to weakness in the sector following on from Alibaba’s lackluster performance after its recent earnings report. The CSI 300 is 1% lower, while the HSI is trading 1.30% lower.
  • South Korean equities are higher as, SK Hynix surges 5% benefitting from the Philadelphia SE Semiconductor Index trading 1.60% higher overnight, Samsung which is trading just off four-year lows is trading unchanged. The KOSPI is 1% higher, while the KOSDAQ is 0.50% lower. Taiwan equities have also benefitted from higher global semiconductor prices with TSMC jumping 3%, which has helped the TAIEX rise 1.70%.
  • Australia's ASX 200 is trading 0.95% higher, with Financials contributing the most to the index gains, tech stocks in Australia are struggling following Wisetech dropping 12% following disappointing earnings guidance. In New Zealand, the NZX50 jumped 2.20%, following Fisher & Paykel jumping 4.30% and A2Milk jumping 18%.
  • Asian EM equities are mostly higher, India is up 1% however trades 10% off cycle highs following consistent selling from foreign investors recently, elsewhere Indonesia's JCI is up 0.80%, while Philippines PSEi is the worst performing with the index down 0.95%.