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

ASIA STOCKS
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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.
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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.