MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ASIA STOCKS: Equities Mixed Ahead Of Key Data & US Elections

ASIA STOCKS
EM BulletAPACEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Asian equities traded in a narrow range as investors focused on the upcoming US election, economic data, and Fed decision. While stocks rose in Tokyo and Australia, equities in China, Hong Kong, Taiwa and South Korea fell. US futures dipped, yield are steady as the market prepared for corporate earnings from major companies like Apple and Microsoft. Meanwhile, the Biden administration finalized restrictions on US investments in advanced technology in China, and Chinese ETFs saw outflows as recent stimulus measures underwhelmed. 

  • Japanese equities are the top performing in the region today, following on from Monday's bounce. The yen has recovered somewhat today, however still trades 0.60% off recent lows. The TOPIX is up 0.85%, with banking stocks outperforming (TOPIX Banks Index +2.63%), while the Nikkei is 0.55% higher, with Softbank 2.50% higher. Earlier, the Jobless rate missed estimates coming in a 2.4% vs 2.5% expected, and down from 2.5% in August.
  • Hong Kong equities have erased earlier gains with the HSI now down 0.15%. Property is the worst performing with the Mainland Property Index falling 1.85%, the HSTech Index was up over 2% earlier, before paring some gains to now trade 1% higher for the session. China mainland equities are performing slightly worse today, with the CSI 300 down 0.60%.
  • Large-cap Asian tech stocks are mostly lower today, which have dragged on both Taiwan & South Korean equities. South Korea's KOSPI is 0.30% lower after SK Hynix dropped 3.30%, while Taiwan's Taiex is 1.86% lower after TSMC dropped 2.40% & Hon Hai fell 2.80%.
  • Foreign investors have been selling South Korean equities today, with a net outflow of $200m, with tech and chemicals seeing the majority of those outflows.
  • Australia equities are 0.40% higher, with Financials contributing the most to index gains. Premium Investments have surged followed reports it has signed signed a binding share sale and implementation agreement with Myer. New Zealand equities have returned from a long weekend to closed 00.10% higher.
  • US equities futures are slightly lower today, traders are positioning for a downside move heading into the US Election in the SPX. SPX Index which is currently trading at $5,823 shows the $4,700 strike puts have the most open interest for the Nov 8th maturity followed by the $5,000 puts while there is a 1.10 put/call ratio for the maturity.
380 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 traded in a narrow range as investors focused on the upcoming US election, economic data, and Fed decision. While stocks rose in Tokyo and Australia, equities in China, Hong Kong, Taiwa and South Korea fell. US futures dipped, yield are steady as the market prepared for corporate earnings from major companies like Apple and Microsoft. Meanwhile, the Biden administration finalized restrictions on US investments in advanced technology in China, and Chinese ETFs saw outflows as recent stimulus measures underwhelmed. 

  • Japanese equities are the top performing in the region today, following on from Monday's bounce. The yen has recovered somewhat today, however still trades 0.60% off recent lows. The TOPIX is up 0.85%, with banking stocks outperforming (TOPIX Banks Index +2.63%), while the Nikkei is 0.55% higher, with Softbank 2.50% higher. Earlier, the Jobless rate missed estimates coming in a 2.4% vs 2.5% expected, and down from 2.5% in August.
  • Hong Kong equities have erased earlier gains with the HSI now down 0.15%. Property is the worst performing with the Mainland Property Index falling 1.85%, the HSTech Index was up over 2% earlier, before paring some gains to now trade 1% higher for the session. China mainland equities are performing slightly worse today, with the CSI 300 down 0.60%.
  • Large-cap Asian tech stocks are mostly lower today, which have dragged on both Taiwan & South Korean equities. South Korea's KOSPI is 0.30% lower after SK Hynix dropped 3.30%, while Taiwan's Taiex is 1.86% lower after TSMC dropped 2.40% & Hon Hai fell 2.80%.
  • Foreign investors have been selling South Korean equities today, with a net outflow of $200m, with tech and chemicals seeing the majority of those outflows.
  • Australia equities are 0.40% higher, with Financials contributing the most to index gains. Premium Investments have surged followed reports it has signed signed a binding share sale and implementation agreement with Myer. New Zealand equities have returned from a long weekend to closed 00.10% higher.
  • US equities futures are slightly lower today, traders are positioning for a downside move heading into the US Election in the SPX. SPX Index which is currently trading at $5,823 shows the $4,700 strike puts have the most open interest for the Nov 8th maturity followed by the $5,000 puts while there is a 1.10 put/call ratio for the maturity.