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: China & HK Equities Jump, Samsung Surges On Buyback News

ASIA STOCKS
EM BulletAPACEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Asian equities are mixed today. Japan's stocks fell as disappointing corporate earnings and caution ahead of the BoJ Governor's speech weighed on sentiment, alongside US Fed rate uncertainty. South Korea's Samsung surged on a surprise stock buyback, offsetting broader weakness in semiconductor stocks following concerns about Nvidia’s chip issues. Chinese and Hong Kong markets saw earlier losses however have seen traded higher, lingering concerns surrounding geopolitical tensions, deflation worries, and reduced optimism over Beijing's stimulus clouding sentiment have limited further upside so far though. In Australia, miners and gold stocks rose, supported by strong commodity prices, but banking sector losses capped gains.

  • Japanese tech stocks are struggling today with Tokyo Electron down 2.25%, following concerns around Nvidia's chip issues, the Nikkei is 0.80% lower, while the broader TOPIX is 0.50% lower. Earlier, BoJ's Ueda spoke, he maintained a cautious, data-dependent stance on monetary policy, avoiding clear signals of a December rate hike, he emphasized that the timing of policy adjustments will depend on economic and price developments, as well as financial conditions.
  • Chinese and Hong Kong stocks have rebounded following last week’s sharp declines, as optimism grew around China’s earnings and stimulus prospects. The HS China Enterprises Index is up 2%, led by gains in ENN Energy and JD.com, while the HSI advanced 1.7%, driven by Tencent, China Construction Bank, and HSBC. China onshore equities saw the CSI 300 Index climbed 1.6%, snapping a two-day loss after its worst weekly drop since July. The improvements in retail sales and property data, along with strong tech earnings look to be the major drivers for the moves, though continued concerns surrounding Trump's nominations could be limiting further upside.
  • Foreign investors have been slightly better buyers of South Korea stocks this morning, however have been net sellers of tech stocks. The majority of inflows have been focused on financial stocks. The KOSPI is 2.10% higher, largely due to the jump higher from Samsung, which last trades up 5%. Taiwan equities are lower, as TSMC & Hon Hai trade lower following the 3.42% drop in the Philadelphia SE Semiconductor Index on Friday.
347 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 mixed today. Japan's stocks fell as disappointing corporate earnings and caution ahead of the BoJ Governor's speech weighed on sentiment, alongside US Fed rate uncertainty. South Korea's Samsung surged on a surprise stock buyback, offsetting broader weakness in semiconductor stocks following concerns about Nvidia’s chip issues. Chinese and Hong Kong markets saw earlier losses however have seen traded higher, lingering concerns surrounding geopolitical tensions, deflation worries, and reduced optimism over Beijing's stimulus clouding sentiment have limited further upside so far though. In Australia, miners and gold stocks rose, supported by strong commodity prices, but banking sector losses capped gains.

  • Japanese tech stocks are struggling today with Tokyo Electron down 2.25%, following concerns around Nvidia's chip issues, the Nikkei is 0.80% lower, while the broader TOPIX is 0.50% lower. Earlier, BoJ's Ueda spoke, he maintained a cautious, data-dependent stance on monetary policy, avoiding clear signals of a December rate hike, he emphasized that the timing of policy adjustments will depend on economic and price developments, as well as financial conditions.
  • Chinese and Hong Kong stocks have rebounded following last week’s sharp declines, as optimism grew around China’s earnings and stimulus prospects. The HS China Enterprises Index is up 2%, led by gains in ENN Energy and JD.com, while the HSI advanced 1.7%, driven by Tencent, China Construction Bank, and HSBC. China onshore equities saw the CSI 300 Index climbed 1.6%, snapping a two-day loss after its worst weekly drop since July. The improvements in retail sales and property data, along with strong tech earnings look to be the major drivers for the moves, though continued concerns surrounding Trump's nominations could be limiting further upside.
  • Foreign investors have been slightly better buyers of South Korea stocks this morning, however have been net sellers of tech stocks. The majority of inflows have been focused on financial stocks. The KOSPI is 2.10% higher, largely due to the jump higher from Samsung, which last trades up 5%. Taiwan equities are lower, as TSMC & Hon Hai trade lower following the 3.42% drop in the Philadelphia SE Semiconductor Index on Friday.