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Asian Equities Are Mixed As FOMC Minutes Weigh On Sentiment

ASIA STOCKS
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Asia markets have opened mixed today after hawkish fed minutes weighed on sentiment, chip and AI-related stocks are higher after Nvidia had another good sales forecast, while Asian mining stocks are lower after copper prices fell 6% and Oil fell over 2%. Earlier NZ Retail Sales best estimates, AU Judo Bank PMI and Consumer Inflation Expectations both fell in May, JP Jibun Bank May PMI was mixed.

  • Japanese equities have opened mixed today, hawkish fed minutes have weighed on market sentiment, while lower commodity prices have dragging mining names lower. Technology stocks are the top performing in the region today. Earlier, Jiban Bank PMI Mfg was 50.5 vs 49.6, Services were 53.6 vs 54.3 while the Composite came in at 52.4 vs 52.3 prior. The Topix is up 0.23%, while the Topix Oil & coal index is down about 2.10%, the Nikkei 225 is up 0.67%.
  • Taiwan equities opened higher this morning, but have pared gains. The BBG Asia-Pacific Semiconductor Index opened higher after Nvidia's strong sales forecast, although we are off highs, the local markets surged higher yesterday in anticipation of earnings and on the balance we still trade higher over the past 24hr than other local markets. Today, April Industrial Production data is expected to show an increase from 3.99% to 11.25%. The Taiex is currently up 0.10%.
  • South Korean equities are mixed today, sentiment around the hawkish fed minutes are weighing on prices. The BOK left rates unchanged at 3.5% as expected with a restrictive stance expected for a sufficient period of time. The large-cap Kospi is down 0.32%, while the small-cap Kosdaq is up 0.31%
  • Australian equities are lower today are the FOMC minutes signaling they are in no rush to cuts rates, which pushed commodity prices lower. Miners and real estate sectors are the worst performing, while health care and tech stocks gain. Judo Bank PMI composite fell in May to 52.6 from 53.0. The ASX200 is down 0.75%
  • Elsewhere in SEA, New Zealand equities are up 0.14%, earlier retail sales ex inflation beat estimates coming in at 0.5% vs -0.3%, Singapore returned from a break on Wednesday with equities trading up about 0.20%, Malaysian equities continue to march higher as foriegn investors continuing their buying streak, the KLCI is up 0.60%, while the Philippines PSEi is up 0.10%
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Asia markets have opened mixed today after hawkish fed minutes weighed on sentiment, chip and AI-related stocks are higher after Nvidia had another good sales forecast, while Asian mining stocks are lower after copper prices fell 6% and Oil fell over 2%. Earlier NZ Retail Sales best estimates, AU Judo Bank PMI and Consumer Inflation Expectations both fell in May, JP Jibun Bank May PMI was mixed.

  • Japanese equities have opened mixed today, hawkish fed minutes have weighed on market sentiment, while lower commodity prices have dragging mining names lower. Technology stocks are the top performing in the region today. Earlier, Jiban Bank PMI Mfg was 50.5 vs 49.6, Services were 53.6 vs 54.3 while the Composite came in at 52.4 vs 52.3 prior. The Topix is up 0.23%, while the Topix Oil & coal index is down about 2.10%, the Nikkei 225 is up 0.67%.
  • Taiwan equities opened higher this morning, but have pared gains. The BBG Asia-Pacific Semiconductor Index opened higher after Nvidia's strong sales forecast, although we are off highs, the local markets surged higher yesterday in anticipation of earnings and on the balance we still trade higher over the past 24hr than other local markets. Today, April Industrial Production data is expected to show an increase from 3.99% to 11.25%. The Taiex is currently up 0.10%.
  • South Korean equities are mixed today, sentiment around the hawkish fed minutes are weighing on prices. The BOK left rates unchanged at 3.5% as expected with a restrictive stance expected for a sufficient period of time. The large-cap Kospi is down 0.32%, while the small-cap Kosdaq is up 0.31%
  • Australian equities are lower today are the FOMC minutes signaling they are in no rush to cuts rates, which pushed commodity prices lower. Miners and real estate sectors are the worst performing, while health care and tech stocks gain. Judo Bank PMI composite fell in May to 52.6 from 53.0. The ASX200 is down 0.75%
  • Elsewhere in SEA, New Zealand equities are up 0.14%, earlier retail sales ex inflation beat estimates coming in at 0.5% vs -0.3%, Singapore returned from a break on Wednesday with equities trading up about 0.20%, Malaysian equities continue to march higher as foriegn investors continuing their buying streak, the KLCI is up 0.60%, while the Philippines PSEi is up 0.10%