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ASIA STOCKS: Equities Mixed, As US Curbs On China Weigh On Stocks

ASIA STOCKS
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Asian stocks traded in a narrow range as investors weighed potential new US curbs on chip sales to China and awaited possible stimulus measures from Beijing. Mainland China and Hong Kong equities declined after a recent rally, while Japanese stocks rose on gains in chip-related shares and a weaker yen. Korean shares fluctuated following a surprise interest rate cut by the central bank. Meanwhile, US equities slipped overnight as an acceleration in the Fed's preferred inflation measure supported a cautious stance on rate cuts,  the NASDAQ led losses overnight with Dell and HP plunging nearly 12% after reporting disappointing sales

  • Japanese stocks fluctuated as tech-heavy Nikkei trading down 0.3% at one point before rallying on the new of US curbs on China, Tokyo Electron was up as much as 10% at one point, while Kokusai jumped over 20%. The wider TOPIX is 0.90% higher while the Nikkei trades 0.80% higher.
  • Australian equities are on track for another day of gains, with healthcare & Financials trading higher, the ASX is currently up 0.65%
  • South Korea's KOSPI opened lower this morning before rallying following a surprise BOK rate cut, however we now trades unchanged for the day. Economists overwhelming expected the bank to hold, however the BOK cut citing slowing growth forecasts and external risks such as potential US trade tariffs, while many also expected the bank to protect the currency, bank officials stated most of the recent weakness in the KRW was largely due to USD strength. Foreign investors have so far this morning continued selling local stocks with a net outflow of $100m, $75m of that from tech stocks
  • Taiwan's TAIEX has erased earlier gains and now trades 0.4% lower. There have been some heavy outflows in the region recently with $2b leaving the market in the past two sessions, taking yearly outflows to -$18b.
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Asian stocks traded in a narrow range as investors weighed potential new US curbs on chip sales to China and awaited possible stimulus measures from Beijing. Mainland China and Hong Kong equities declined after a recent rally, while Japanese stocks rose on gains in chip-related shares and a weaker yen. Korean shares fluctuated following a surprise interest rate cut by the central bank. Meanwhile, US equities slipped overnight as an acceleration in the Fed's preferred inflation measure supported a cautious stance on rate cuts,  the NASDAQ led losses overnight with Dell and HP plunging nearly 12% after reporting disappointing sales

  • Japanese stocks fluctuated as tech-heavy Nikkei trading down 0.3% at one point before rallying on the new of US curbs on China, Tokyo Electron was up as much as 10% at one point, while Kokusai jumped over 20%. The wider TOPIX is 0.90% higher while the Nikkei trades 0.80% higher.
  • Australian equities are on track for another day of gains, with healthcare & Financials trading higher, the ASX is currently up 0.65%
  • South Korea's KOSPI opened lower this morning before rallying following a surprise BOK rate cut, however we now trades unchanged for the day. Economists overwhelming expected the bank to hold, however the BOK cut citing slowing growth forecasts and external risks such as potential US trade tariffs, while many also expected the bank to protect the currency, bank officials stated most of the recent weakness in the KRW was largely due to USD strength. Foreign investors have so far this morning continued selling local stocks with a net outflow of $100m, $75m of that from tech stocks
  • Taiwan's TAIEX has erased earlier gains and now trades 0.4% lower. There have been some heavy outflows in the region recently with $2b leaving the market in the past two sessions, taking yearly outflows to -$18b.