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Asian Equities Follow US Markets Higher, Japan & South Korea Out

ASIA STOCKS
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Asian markets are mostly higher today, Japan and South Korea are both out for Public Holidays though. Local markets are largely following moves made on Friday in the US markets after equities rallied on weaker than expected NFP. Locally, It is a quiet day in the region for economic data with Australia MI Inflation and China Caixin PMI the only releases in the region.

  • Taiwan equities are higher today, with semiconductor names the top performing sector. The Taiex is now up 6.70% from lows made the day of the Israel/Iran conflict, and now comfortably trades above all major EMA's while the 14-day RSI sits at 58 and the MACD has increasing green buyers indicating buyers are in control. Looking ahead focus will turn to CPI due out on Wednesday with expectations of 2.20% up from 2.14% in March. The Taiex is up 1.25%.
  • Australian equities are higher today with the ASX200 breaking back above the 20 & 50-day EMAs. Most sectors are in the green except for Pharmaceuticals, & Professional Services, while Macquarie Bank lags in the financials space. Earlier, we have MI Inflation for Apr at 0.1% m/m vs 0.1% prior & 3.7% y/y vs 3.8% prior, while ANZ-Indeed Job Advertisements were 2.8% in Apr vs -1.0% in March .
  • Elsewhere in SEA, New Zealand equities are down 0.88%, earlier ANZ Commodity Price increased in Apr to 0.50% from -1.3% in March. Indonesian equities are down 0.20% ahead of GDP due out later, with consensus at 5.08%, Philippines equities are up 0.50% Singapore equities are up 0.30% while Malaysian equities are up 0.20%.
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Asian markets are mostly higher today, Japan and South Korea are both out for Public Holidays though. Local markets are largely following moves made on Friday in the US markets after equities rallied on weaker than expected NFP. Locally, It is a quiet day in the region for economic data with Australia MI Inflation and China Caixin PMI the only releases in the region.

  • Taiwan equities are higher today, with semiconductor names the top performing sector. The Taiex is now up 6.70% from lows made the day of the Israel/Iran conflict, and now comfortably trades above all major EMA's while the 14-day RSI sits at 58 and the MACD has increasing green buyers indicating buyers are in control. Looking ahead focus will turn to CPI due out on Wednesday with expectations of 2.20% up from 2.14% in March. The Taiex is up 1.25%.
  • Australian equities are higher today with the ASX200 breaking back above the 20 & 50-day EMAs. Most sectors are in the green except for Pharmaceuticals, & Professional Services, while Macquarie Bank lags in the financials space. Earlier, we have MI Inflation for Apr at 0.1% m/m vs 0.1% prior & 3.7% y/y vs 3.8% prior, while ANZ-Indeed Job Advertisements were 2.8% in Apr vs -1.0% in March .
  • Elsewhere in SEA, New Zealand equities are down 0.88%, earlier ANZ Commodity Price increased in Apr to 0.50% from -1.3% in March. Indonesian equities are down 0.20% ahead of GDP due out later, with consensus at 5.08%, Philippines equities are up 0.50% Singapore equities are up 0.30% while Malaysian equities are up 0.20%.