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Asian Equities Mixed, Ahead Of Chinese Tech Earnings and US CPI

ASIA STOCKS
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Asian equity markets are mostly lower today, Taiwan equities are the top performer again, although only slightly higher. It has been a relative slow day as many investors await US CPI due out on Wednesday, focus in the region today will be on corporate earnings out of China with Alibaba and Tencent reporting later today, while Australia will hand down the Federal budget post the close today. Earlier we had NZ home sales which showed an increase from the month prior, while Japan's PPI for Apr best estimates.
  • Japanese equities are little changed today, focus for the region has been on the slipping bond yields with 5yr JGBs yield hitting the highest since 2013, while the yen continues to weaken and now trades at 156.42 with the currency slipping 3% from the lows made post what was thought to be intervention from the BoJ. Earlier, PPI for April came in above estimates at 0.9% vs 0.8%, but in line with a revised 0.9% in March. The Topix and Nikkei are both unchanged.
  • South Korean equities are also unchanged today, the Kospi continues to comfortably hold above all major moving averages, while the RSI is holding above 50 and MACD indicator looks to have peak for the time being. Equity flows have been positive over the short term, with the 5-day average now $192m slightly above the longer-term average of $185m.
  • Taiwan equities are slightly higher today with semiconductor names again leading the way, the calendar is empty this week with focus turning to Chinese Tech earnings later today. Equity flows have been positive over the week with the 5-day average sitting at $158m, the Taiex is up 0.15%.
  • Australian equities are lower again today, as investors await the Federal budget that will be released after the close today. The ASX200 touched a high of 7,800 on May 8th before trending lower with the 20-day EMA now acting as support, the index is down 0.30% today.
  • Elsewhere in SEA, New Zealand equities are down 0.30%, earlier we had REINZ House Sales came in at 25.3% in Apr, Indonesian equities are little changed today however foreign investors continue to sell local equities, Philippines equities are down 0.17%, while Malaysian equities are up 0.12%
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Asian equity markets are mostly lower today, Taiwan equities are the top performer again, although only slightly higher. It has been a relative slow day as many investors await US CPI due out on Wednesday, focus in the region today will be on corporate earnings out of China with Alibaba and Tencent reporting later today, while Australia will hand down the Federal budget post the close today. Earlier we had NZ home sales which showed an increase from the month prior, while Japan's PPI for Apr best estimates.
  • Japanese equities are little changed today, focus for the region has been on the slipping bond yields with 5yr JGBs yield hitting the highest since 2013, while the yen continues to weaken and now trades at 156.42 with the currency slipping 3% from the lows made post what was thought to be intervention from the BoJ. Earlier, PPI for April came in above estimates at 0.9% vs 0.8%, but in line with a revised 0.9% in March. The Topix and Nikkei are both unchanged.
  • South Korean equities are also unchanged today, the Kospi continues to comfortably hold above all major moving averages, while the RSI is holding above 50 and MACD indicator looks to have peak for the time being. Equity flows have been positive over the short term, with the 5-day average now $192m slightly above the longer-term average of $185m.
  • Taiwan equities are slightly higher today with semiconductor names again leading the way, the calendar is empty this week with focus turning to Chinese Tech earnings later today. Equity flows have been positive over the week with the 5-day average sitting at $158m, the Taiex is up 0.15%.
  • Australian equities are lower again today, as investors await the Federal budget that will be released after the close today. The ASX200 touched a high of 7,800 on May 8th before trending lower with the 20-day EMA now acting as support, the index is down 0.30% today.
  • Elsewhere in SEA, New Zealand equities are down 0.30%, earlier we had REINZ House Sales came in at 25.3% in Apr, Indonesian equities are little changed today however foreign investors continue to sell local equities, Philippines equities are down 0.17%, while Malaysian equities are up 0.12%