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Asian Equities Are Mixed, Tech Stocks Mixed

ASIA STOCKS
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Asia markets are mixed today, Japanese equity gains are driven by a tech rally that pushed the Nasdaq Composite to record highs. Nvidia shares rose over 2% due to bullish analyst forecasts and increased price targets ahead of its earnings report. Investors in Asia will watch for impacts on companies linked to Nvidia, such as TSMC, Foxconn, Samsung Electronics, and SK Hynix. There is little in the way of economic data in the region today, although the RBA has recently released minutes from their May policy meeting.

  • Japanese equities have opened slightly higher this morning, insurers are the top performing sector after positive earnings outlooks and buyback announcements, while tech shares are also up ahead of Nvidia earnings. The Nikkei 225 is up 0.30% and is closing back in on the 40,000 mark, while the Topix is up 0.20%.
  • South Korean equities are lower today as local tech stocks slide, Samsung is the largest contributed to the loss. There is little on the calendar today, with PPI and Business Survey Manufacturing due out tomorrow, while focus will be on the BOK Thursday. The Kospi is trading down 0.41%, while the small-cap Kosdaq is down 0.27%.
  • Taiwan equities are slightly lower today, regional tech prices are lower which is leading to the weakness in the local market. This week we have the unemployment rate due out tomorrow and Industrial Production on Thursday. The Taiex is down 0.10%.
  • Australian equities are lower today, focus has been on the RBA minutes where they discussed interest-rate hikes and that inflations risks had risen somewhat. Financials and Materials are the worst performing sectors, offsetting gains in Consumer Discretionary, Industrials and Tech, the ASX200 is down 0.20%
  • Elsewhere in SEA, New Zealand equities are down 0.38%, Singapore equites are down 0.25% & Malaysian equities are down 0.24%.
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Asia markets are mixed today, Japanese equity gains are driven by a tech rally that pushed the Nasdaq Composite to record highs. Nvidia shares rose over 2% due to bullish analyst forecasts and increased price targets ahead of its earnings report. Investors in Asia will watch for impacts on companies linked to Nvidia, such as TSMC, Foxconn, Samsung Electronics, and SK Hynix. There is little in the way of economic data in the region today, although the RBA has recently released minutes from their May policy meeting.

  • Japanese equities have opened slightly higher this morning, insurers are the top performing sector after positive earnings outlooks and buyback announcements, while tech shares are also up ahead of Nvidia earnings. The Nikkei 225 is up 0.30% and is closing back in on the 40,000 mark, while the Topix is up 0.20%.
  • South Korean equities are lower today as local tech stocks slide, Samsung is the largest contributed to the loss. There is little on the calendar today, with PPI and Business Survey Manufacturing due out tomorrow, while focus will be on the BOK Thursday. The Kospi is trading down 0.41%, while the small-cap Kosdaq is down 0.27%.
  • Taiwan equities are slightly lower today, regional tech prices are lower which is leading to the weakness in the local market. This week we have the unemployment rate due out tomorrow and Industrial Production on Thursday. The Taiex is down 0.10%.
  • Australian equities are lower today, focus has been on the RBA minutes where they discussed interest-rate hikes and that inflations risks had risen somewhat. Financials and Materials are the worst performing sectors, offsetting gains in Consumer Discretionary, Industrials and Tech, the ASX200 is down 0.20%
  • Elsewhere in SEA, New Zealand equities are down 0.38%, Singapore equites are down 0.25% & Malaysian equities are down 0.24%.