CANADA MAY CPI +2.9% YOY VS FORECAST +2.6%, PRIOR 2.7%

MNI: Bowman Warns Of Fed Divergence With Other Central Banks

MNI BRIEF: China To Empower AI For Economic Growth - Li Qiang

MNI China Daily Summary: Tuesday, June 25

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: Lithuania Synd; UK Auction Wednesday

MNI: US CONF BOARD CONSUMER CONFIDENCE 100.4 IN JUN V MAY 101.3

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Asian Equities Head Higher Led By Tech Stocks, RBA Shortly

ASIA STOCKS
Metals bulletEM BulletHomepagemarkets-real-timeCommoditiesEmerging Market NewsEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

Asian markets are higher today as technology-driven rallies in the US lifted some regional stocks. Japanese stocks rebounded strongly, driven by tech shares and exporters, following Wall Street's record highs. South Korean markets also opened sharply higher, led by gains in major chipmakers. Australia's equities advanced, with the central bank expected to hold rates steady. Meanwhile, benchmark 10-year Treasuries remained little changed in Asia, and the dollar weakened against most G10 peers.

  • Japanese stocks rebounded strongly from Monday's slump, tracking US shares higher. The benchmark Nikkei 225 index climbed 0.92%, while the Topix index rose 0.54%. Tech shares led the gains, with Tokyo Electron up 1.94% and Fanuc gaining 1.17%. Exporters also contributed significantly, with Toyota rising 1.12% and Honda jumping 2.13%. The positive sentiment was supported by optimism over a resilient US economy and easing political concerns in France.
  • South Korean stocks opened sharply higher, reflecting overnight gains on Wall Street. The KOSPI is 0.91% higher with large caps leading the way higher, with the small-cap Kosdaq trading up just 0.10%. Samsung Electronics adding 1.79% and SK Hynix jumping 3.59%. Hyundai Motor and LG Energy Solution also posted gains of 1.62% and 1.49%, respectively, which contributed the most to index gains. Foreign investors were net buyers of equities on Monday, with that trend continuing this morning.
  • Taiwan equities is currently up 0.90% at 22,665.12, driven by gains in semiconductor stocks. TSMC contributed significantly to the index's rise, gaining as much as 3.2% after Citigroup raised its price target by 12% to NT$1,150, citing strong utilization-rate recovery and advanced node demand, while Morgan Stanley also increased TSMC’s price target to NT$1,080, highlighting potential upside from Apple Silicon and Edge AI processors.
  • Australian stocks advanced, buoyed by the rally in US technology stocks. The RBA is expected to keep its benchmark cash rate at a 12-year high of 4.35% for a fifth straight meeting. The nation's 10-year bond yield climbed one basis point to 4.12%. The ASX200 is currently up 1%
  • Elsewhere, New Zealand equities are 0.71% earlier Westpac Consumer Confidence for Q2 was 82.2 vs 93.2 prior. Singapore equities are 0.43% higher, Malaysian equities are 0.46%.
354 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Asian markets are higher today as technology-driven rallies in the US lifted some regional stocks. Japanese stocks rebounded strongly, driven by tech shares and exporters, following Wall Street's record highs. South Korean markets also opened sharply higher, led by gains in major chipmakers. Australia's equities advanced, with the central bank expected to hold rates steady. Meanwhile, benchmark 10-year Treasuries remained little changed in Asia, and the dollar weakened against most G10 peers.

  • Japanese stocks rebounded strongly from Monday's slump, tracking US shares higher. The benchmark Nikkei 225 index climbed 0.92%, while the Topix index rose 0.54%. Tech shares led the gains, with Tokyo Electron up 1.94% and Fanuc gaining 1.17%. Exporters also contributed significantly, with Toyota rising 1.12% and Honda jumping 2.13%. The positive sentiment was supported by optimism over a resilient US economy and easing political concerns in France.
  • South Korean stocks opened sharply higher, reflecting overnight gains on Wall Street. The KOSPI is 0.91% higher with large caps leading the way higher, with the small-cap Kosdaq trading up just 0.10%. Samsung Electronics adding 1.79% and SK Hynix jumping 3.59%. Hyundai Motor and LG Energy Solution also posted gains of 1.62% and 1.49%, respectively, which contributed the most to index gains. Foreign investors were net buyers of equities on Monday, with that trend continuing this morning.
  • Taiwan equities is currently up 0.90% at 22,665.12, driven by gains in semiconductor stocks. TSMC contributed significantly to the index's rise, gaining as much as 3.2% after Citigroup raised its price target by 12% to NT$1,150, citing strong utilization-rate recovery and advanced node demand, while Morgan Stanley also increased TSMC’s price target to NT$1,080, highlighting potential upside from Apple Silicon and Edge AI processors.
  • Australian stocks advanced, buoyed by the rally in US technology stocks. The RBA is expected to keep its benchmark cash rate at a 12-year high of 4.35% for a fifth straight meeting. The nation's 10-year bond yield climbed one basis point to 4.12%. The ASX200 is currently up 1%
  • Elsewhere, New Zealand equities are 0.71% earlier Westpac Consumer Confidence for Q2 was 82.2 vs 93.2 prior. Singapore equities are 0.43% higher, Malaysian equities are 0.46%.