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Asian Equities Are Mixed Ahead Of CB Decisions & Jackson Hole

ASIA STOCKS

Asian markets had a mixed start to the week as investors remained cautious ahead of key central bank decisions and the upcoming Jackson Hole symposium. Japanese stocks fell, halting a five-day advance, with benchmark indices down about 0.20%, weighed by the yen's strength against the dollar. In South Korea, the KOSPI opened nearly flat as investors took profits following recent gains. Meanwhile, Australian shares were little changed, and New Zealand's S&P/NZX 50 index declined by 1.3%. The region's focus remains on central bank meetings in Indonesia, South Korea, and Japan, as well as U.S. Fed Chair Jerome Powell's upcoming remarks.

  • Japanese stocks are slightly lower today, after strong returns since the August 5 sell-off. In June, Japanese machinery orders fell by 6%, but rose 7.4% in the April-June quarter, with private-sector orders slightly up by 2.1% in June but marginally down by 0.1% for the quarter, while a 3.8% decline is forecast for total orders in the July-September quarter. The Topix & Nikkei are trading about 0.20% lower today,
  • South Korean equities are a touch lower today, the market has seen gradual recovery since the sharp 8.77% drop on August 5, driven by easing recession fears in the U.S. Technology stocks like Samsung Electronics and SK hynix weighed on the market, while automotive and financial stocks, such as Hyundai Motors and KB Financial have seen gains. The KOSPI is 0.25% lower, while the KOSDAQ is down 0.35%.
  • Taiwan equities are higher this morning, following strong inflows into the region to end last week. TSMC is unchanged this morning, while the Taiex is up 0.30%.
  • Australian equities are unchanged today with losses in Consumer Staples & Discretionary offset gains in Utilities and Healthcare stocks. New Zealand equities are the worst performing in the region today with the NZX50 down 1% after A2 Milk dropped 18% on the back soft guidance.
  • Asia EM is mixed today, with Asian FX rallying, Indonesian's JCI is unchanged, Singapore's Strait Times is 0.15% lower, Philippines PSEi is 1% higher & Malaysia's KLCI is 0.50% higher,

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