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ASIA STOCKS: Asian Equities Trade In Tight Ranges Ahead Of FOMC

ASIA STOCKS
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Asian stocks traded in a narrow range as investors awaited the Fed's rate decision, with the market now favoring a 50bps cut slightly. The MSCI Asia Pacific Index rose in early morning trading led higher by Japanese exports as the yen fell, however as the day progressed the yen and recovered with exporters paring gains, while Asia tech stocks trade slightly lower. China markets have returned from their break and trade mixed, with gains in consumer discretionary & Utilities offset by losses in Consumer Staples & Tech stocks. Hong Kong & South Korea are out for public holidays today.

  • Chinese chip-related stocks surged following the nation's announcement of a breakthrough in developing homegrown semiconductor-making equipment, signaling progress in overcoming US sanctions. Companies like Changchun UP Optotech and Sai Micro Electronics saw significant gains.
  • Japanese equities are trading in tight ranges, the Nikkei 225 is unchanged, while the TOPIX trade 0.30% as the yen recovers from Tuesday's sell-off.
  • Taiwan's Taiex is trading 0.70% lower, after TSMC fell 0.75% while Hon Hai is down 3.60%. Taiwan's central bank meets tomorrow, where they are expected to keep rates on hold.
  • Australia's ASX 200 is trading down 0.15% with Metals & Mining and Health care stocks weighing on the market. New Zealand's NZX 50 is down 0.45% after A2 milk fell over 2%.
  • Eyes are all on the Fed tonight, there has been a surge in activity in October fed funds futures with the bulk of new bets targeting an 50bps cut.

 

 

 

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Asian stocks traded in a narrow range as investors awaited the Fed's rate decision, with the market now favoring a 50bps cut slightly. The MSCI Asia Pacific Index rose in early morning trading led higher by Japanese exports as the yen fell, however as the day progressed the yen and recovered with exporters paring gains, while Asia tech stocks trade slightly lower. China markets have returned from their break and trade mixed, with gains in consumer discretionary & Utilities offset by losses in Consumer Staples & Tech stocks. Hong Kong & South Korea are out for public holidays today.

  • Chinese chip-related stocks surged following the nation's announcement of a breakthrough in developing homegrown semiconductor-making equipment, signaling progress in overcoming US sanctions. Companies like Changchun UP Optotech and Sai Micro Electronics saw significant gains.
  • Japanese equities are trading in tight ranges, the Nikkei 225 is unchanged, while the TOPIX trade 0.30% as the yen recovers from Tuesday's sell-off.
  • Taiwan's Taiex is trading 0.70% lower, after TSMC fell 0.75% while Hon Hai is down 3.60%. Taiwan's central bank meets tomorrow, where they are expected to keep rates on hold.
  • Australia's ASX 200 is trading down 0.15% with Metals & Mining and Health care stocks weighing on the market. New Zealand's NZX 50 is down 0.45% after A2 milk fell over 2%.
  • Eyes are all on the Fed tonight, there has been a surge in activity in October fed funds futures with the bulk of new bets targeting an 50bps cut.