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ASIA STOCKS: Asian Equities Track US Markets Higher

ASIA STOCKS
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Asian equities are tracking gains on overnight, boosted by strong performances from US tech stocks and expectations of easing inflation data. Chinese equities stabilized after volatile swings earlier in the week, supported by the PBoC new liquidity tool aimed at major stock buyers. Japanese equities rose as the yen weakened, while South Korea and Australia also advanced on positive sentiment from the US markets and declining oil prices.

  • Japanese equities are higher driven by a weaker yen. The USD/JPY is 149.18 at 2 month highs, supported by FOMC minutes showing a split among policymakers on the size of recent rate cuts. This has diminished expectations for aggressive future rate cuts. The yen’s depreciation continues to bolster corporate earnings for export-driven companies, providing strong support for the Nikkei 225 (+0.30%) & Topix (+0.25%). Inflation remains a challenge, particularly for small businesses, but the weakening yen is likely to sustain positive momentum for the stock market.
  • South Korean are higher with the KOSPI +0.65%, benefiting from overnight gains in US tech stocks and easing oil prices. The inclusion of South Korea in FTSE Russell’s World Government Bond Index also supported local bond futures. Automotive and biotech shares led the charge, with Hyundai +0.81% and Celltrion +2.3%. Semiconductor stocks were mixed, as SK Hynix surged 5.45% while larger rival Samsung Electronics slipped 1.33%.
  • Australia's ASX 200 is +0.45% with mining stocks, particularly lithium companies, performing strongly. Arcadium Lithium soared 38.8% after Rio Tinto’s $10 billion takeover offer, and Liontown gained over 8%, driven by speculation of further consolidation in the lithium sector.
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Asian equities are tracking gains on overnight, boosted by strong performances from US tech stocks and expectations of easing inflation data. Chinese equities stabilized after volatile swings earlier in the week, supported by the PBoC new liquidity tool aimed at major stock buyers. Japanese equities rose as the yen weakened, while South Korea and Australia also advanced on positive sentiment from the US markets and declining oil prices.

  • Japanese equities are higher driven by a weaker yen. The USD/JPY is 149.18 at 2 month highs, supported by FOMC minutes showing a split among policymakers on the size of recent rate cuts. This has diminished expectations for aggressive future rate cuts. The yen’s depreciation continues to bolster corporate earnings for export-driven companies, providing strong support for the Nikkei 225 (+0.30%) & Topix (+0.25%). Inflation remains a challenge, particularly for small businesses, but the weakening yen is likely to sustain positive momentum for the stock market.
  • South Korean are higher with the KOSPI +0.65%, benefiting from overnight gains in US tech stocks and easing oil prices. The inclusion of South Korea in FTSE Russell’s World Government Bond Index also supported local bond futures. Automotive and biotech shares led the charge, with Hyundai +0.81% and Celltrion +2.3%. Semiconductor stocks were mixed, as SK Hynix surged 5.45% while larger rival Samsung Electronics slipped 1.33%.
  • Australia's ASX 200 is +0.45% with mining stocks, particularly lithium companies, performing strongly. Arcadium Lithium soared 38.8% after Rio Tinto’s $10 billion takeover offer, and Liontown gained over 8%, driven by speculation of further consolidation in the lithium sector.