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Asian Equities Lower As ISM Manufacturing Misses Estimates

ASIA STOCKS
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Asian equities are lower this morning, after weaker-than-expected US manufacturing data led to concerns about a slowdown in the US economy, US yields rallied post the data release with the curve trading 6-11bps tighter. It has been a quiet session on the data front, earlier we had South Korean CPI and AU Current Account Balance & Company Profits.

  • Japanese equities are lower today, as the yen edges higher and weaker US equity market weigh on sentiment. Earlier we have May Monetary base come in at 0.9% vs 2.1% in April, while the yen edged a touch lower on comments from Suzuki. The Nikkei 225 is down 0.70%, while the broader Topix is performing slightly better down just 0.50%
  • Taiwan equities lower today, largely just tracking global peers. The largest contributor to the benchmark, TSMC is unchanged in early morning trading, underperforming moves made last night in the Philadelphia Semiconductor Index, currently the Taiex is down 0.30%, although continues holds above the 20-day EMA.
  • South Korean equities much like all other markets in the region are lower today on concerns of weaker growth in the US, while investors also look to take profit. Samsung is the largest contributor to Index moves and trades down about 0.20%. Earlier we had CPI which came in slightly below consensus at 2.7% vs 2.8% y/y, focus now turns to GDP tomorrow. The Kospi is down 0.44%, while the small cap Kosdaq is currently 0.65% higher.
  • Australian equities are little changed today, Metals and Miners are the worst performing sectors offsetting gains made in Financials and Health care stocks. Earlier, we had 1Q current account balance which sowed a deficit of A$4.9b vs A$5.2b est, while the prior month has been revised from A$11.8b to A$2.7b and Australia 1Q Company Profits was -2.5% q/q; Est. -0.9%. The ASX200 is down 0.10%.
  • Elsewhere in SEA, New Zealand Equities are 0.26% lower, Singapore equities are 0.13% lower, Philippines equities are down 0.30%, while Malaysian equities are 0.10% higher.
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Asian equities are lower this morning, after weaker-than-expected US manufacturing data led to concerns about a slowdown in the US economy, US yields rallied post the data release with the curve trading 6-11bps tighter. It has been a quiet session on the data front, earlier we had South Korean CPI and AU Current Account Balance & Company Profits.

  • Japanese equities are lower today, as the yen edges higher and weaker US equity market weigh on sentiment. Earlier we have May Monetary base come in at 0.9% vs 2.1% in April, while the yen edged a touch lower on comments from Suzuki. The Nikkei 225 is down 0.70%, while the broader Topix is performing slightly better down just 0.50%
  • Taiwan equities lower today, largely just tracking global peers. The largest contributor to the benchmark, TSMC is unchanged in early morning trading, underperforming moves made last night in the Philadelphia Semiconductor Index, currently the Taiex is down 0.30%, although continues holds above the 20-day EMA.
  • South Korean equities much like all other markets in the region are lower today on concerns of weaker growth in the US, while investors also look to take profit. Samsung is the largest contributor to Index moves and trades down about 0.20%. Earlier we had CPI which came in slightly below consensus at 2.7% vs 2.8% y/y, focus now turns to GDP tomorrow. The Kospi is down 0.44%, while the small cap Kosdaq is currently 0.65% higher.
  • Australian equities are little changed today, Metals and Miners are the worst performing sectors offsetting gains made in Financials and Health care stocks. Earlier, we had 1Q current account balance which sowed a deficit of A$4.9b vs A$5.2b est, while the prior month has been revised from A$11.8b to A$2.7b and Australia 1Q Company Profits was -2.5% q/q; Est. -0.9%. The ASX200 is down 0.10%.
  • Elsewhere in SEA, New Zealand Equities are 0.26% lower, Singapore equities are 0.13% lower, Philippines equities are down 0.30%, while Malaysian equities are 0.10% higher.