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Asian Equities Head Lower As Yields Creep Higher, AU CPI Beats

ASIA STOCKS
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Asia markets are lower today, with mixed economic data, comments from the Fed's Kashkari and US treasury supply pushing yields higher. Elsewhere, Oil extended gains as another attack in the red sea heightened geopolitical tensions ahead of the OPEC meeting on the weekend. MSCI Asia Pacific has fallen for the second straight day, ACGBs bonds sold-off after CPI came in stronger-than-expected while JGB yields continue to make new highs with the 10Y now trading at 1.068% the highest since 2011 while the yen continues to slip.

  • Japanese equities are lower today, tech shares are the best performing sector while autos are lower. The yen continues to slid and now trades at 157.25, while JGB yields continue to move higher with the 10Y now 1.068%, the highest since 2011. May Consumer Confidence was 36.2 vs 39.5 est. The Topix is down 0.60%, Topix Auto & Transportation down 1%, while Nikkei 225 is down 0.48%
  • Taiwan equities have opened a touch higher this morning but have since pared gains and now trade lower for the day. The Taiex still trades up 13.55% from recent lows, with TSMC now up almost 27% over the same period. Thursday we have GDP data, with consensus at 6.5%. The Taiex is of 0.70%.
  • South Korean equities are lower today, with the Kospi now trading back below the 20-day EMA, the Kosdaq has underperformed recently and trades below all major moving averages. South Korea was the only market in the region to see an inflow on Tuesday, although short-term flow momentum still remains subdued and below longer term averages. Later this week we have Industrial Production. The Kospi is down 1.30%, while the Kosdaq is down 1.10%
  • Australian equities are lower today, CPI beat estimates coming in at 3.6% y/y vs 3.4% est, while total construction falls 2.9% q/q vs +0.5% est. Financials are the largest contributor to the fall today, while only energy stocks higher. The ASX200 is down 1.05%.
  • Elsewhere in SEA, New Zealand equities are up 0.25%, Singapore equities are 0.11% lower, Malaysian equities are down 0.43%, Indonesian equities are down 1.70% while Philippines equities are 1% lower.
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Asia markets are lower today, with mixed economic data, comments from the Fed's Kashkari and US treasury supply pushing yields higher. Elsewhere, Oil extended gains as another attack in the red sea heightened geopolitical tensions ahead of the OPEC meeting on the weekend. MSCI Asia Pacific has fallen for the second straight day, ACGBs bonds sold-off after CPI came in stronger-than-expected while JGB yields continue to make new highs with the 10Y now trading at 1.068% the highest since 2011 while the yen continues to slip.

  • Japanese equities are lower today, tech shares are the best performing sector while autos are lower. The yen continues to slid and now trades at 157.25, while JGB yields continue to move higher with the 10Y now 1.068%, the highest since 2011. May Consumer Confidence was 36.2 vs 39.5 est. The Topix is down 0.60%, Topix Auto & Transportation down 1%, while Nikkei 225 is down 0.48%
  • Taiwan equities have opened a touch higher this morning but have since pared gains and now trade lower for the day. The Taiex still trades up 13.55% from recent lows, with TSMC now up almost 27% over the same period. Thursday we have GDP data, with consensus at 6.5%. The Taiex is of 0.70%.
  • South Korean equities are lower today, with the Kospi now trading back below the 20-day EMA, the Kosdaq has underperformed recently and trades below all major moving averages. South Korea was the only market in the region to see an inflow on Tuesday, although short-term flow momentum still remains subdued and below longer term averages. Later this week we have Industrial Production. The Kospi is down 1.30%, while the Kosdaq is down 1.10%
  • Australian equities are lower today, CPI beat estimates coming in at 3.6% y/y vs 3.4% est, while total construction falls 2.9% q/q vs +0.5% est. Financials are the largest contributor to the fall today, while only energy stocks higher. The ASX200 is down 1.05%.
  • Elsewhere in SEA, New Zealand equities are up 0.25%, Singapore equities are 0.11% lower, Malaysian equities are down 0.43%, Indonesian equities are down 1.70% while Philippines equities are 1% lower.