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ASIA STOCKS:  Stocks Perform Well on Less US Restrictions. 

ASIA STOCKS
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  • A generally good day across Asian equity markets with the KOSPI the outperformer as the new restrictions from the Biden administration on tech exports were not as punitive as feared.
  • The tech heavy KOSPI rose 1.60% as a weak CPI release suggested that the BOK may be forced to cut rates more than many expected.
  • China equities were weaker as the Yuan fixing was at the weakest level in over a year, suggesting the economy is weaker than expected. 
  • China Equity markets were mixed today despite the supportive words from the PBOC Governor. CSI 300 flat, Hang Seng +0.36%, Shanghai +0.20% and Shenzhen -0.02%.
  • Indonesia’s Jakarta Composite shrugged off four straight days of losses to bounce up by +1.35% today following comments by the BI governor that pointed to rates being stable.
  • In Malaysia, following on from yesterday’s directionless day, the FTSE Bursa Malaysia KLCI faired only marginally better today up +0.22%.
  • India’s NIFTY 50 is putting in a second day of performance up +0.60% following solid PMI data. 
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  • A generally good day across Asian equity markets with the KOSPI the outperformer as the new restrictions from the Biden administration on tech exports were not as punitive as feared.
  • The tech heavy KOSPI rose 1.60% as a weak CPI release suggested that the BOK may be forced to cut rates more than many expected.
  • China equities were weaker as the Yuan fixing was at the weakest level in over a year, suggesting the economy is weaker than expected. 
  • China Equity markets were mixed today despite the supportive words from the PBOC Governor. CSI 300 flat, Hang Seng +0.36%, Shanghai +0.20% and Shenzhen -0.02%.
  • Indonesia’s Jakarta Composite shrugged off four straight days of losses to bounce up by +1.35% today following comments by the BI governor that pointed to rates being stable.
  • In Malaysia, following on from yesterday’s directionless day, the FTSE Bursa Malaysia KLCI faired only marginally better today up +0.22%.
  • India’s NIFTY 50 is putting in a second day of performance up +0.60% following solid PMI data.