Asian Equities Higher, Led By Tech As Nvidia Beat Estimates

Regional Asian Equities are higher today, with Australia the exception. Equities markets in the region traded lower yesterday as they eagerly awaited results from tech giant Nvidia earlier today, which surprised to the upside beating estimates. Tech names will benefit the most today, with inflows expected to turn positive in South Korea and Taiwan after decent outflows on Wednesday.

• Japan equities are higher today, as tech names lead the way. The Nikkei 225 up 1.60%, roughly 1% off all-time highs set back in 1987. Japanese exports are seeing support as the yen stayed weaker, currently at 150.33, while foreigners bought a net of ¥382b of Japanese stocks for the week ended Feb 16, marking the 7th straight week of net buying. The Topix is lagging the Nikkei 225 today, up about 1.00%.
• Taiwan Equities are pushing higher today mostly due to higher Tech stocks. Yesterday Taiwan saw -$466m in foreign equity outflow and -$843m for the week, expect this to change as investors look to get back into semiconductor names. Taiex is up 0.68%
• South Korean equities are also higher today, again largely due to strength in the semiconductor space. Similar to Taiwan, SK saw net selling by foreigners yesterday as -$133m left the market. Currently the Kospi trades up 0.25%
• Australian Equities are lower today marking the third day of losses, dragged down due to weakness in the financial and consumer sector and unlike other markets doesn't benefit as much on tech strength. Currently the ASX200 is 0.10% lower.
• Elsewhere in SEA, New Zealand Equities trade 1.00% higher, while Indonesia trades 0.10% lower