Asian Equities Mixed As Markets Seek Direction

Asia markets are mixed today, it has been a very quiet session ranges have been very tight with the US and UK out on Monday as markets look for some direction. Shortly the Fed's Mester and Bowman will speak at a BoJ events, while earlier today Australian Retail sales came in below estimates, Japan April PPI Services was higher than estimates. Taiwan markets are the top performing in the region, as they continue to see the greatest inflows in the region.

• Japanese equities are mostly lower today, the yen is a touch stronger at 156.78 largely on the back of a weaker USD. Earlier we had PPI Services was 2.8% vs 2.3% est, there is little else in the way of economic data today or market headlines. Focus will turn to the BoJ-IMES Conference where Fed speakers are about to speak. The Topix is unchanged while the Nikkei 225 is down 0.15%
• Taiwan equities are slightly higher today, while Taiwan was the only market in the region to see inflows on Monday. This week focus will be on GDP data due out on Thursday. The Taiex continues to make new all time highs, and is up 0.36% today.
• South Korean equities are higher today. We just had store sales data out with department store sales were -2% y/y in Apr, vs a 8.9% rise in March, discount store sales were -6.7% y/y in April, vs a 6.2% rise in March, while retail sales were 10.8% y/y vs 10.9% in March. Equity flows continue to slow, with just $143m of inflows over the past 5 sessions. The Kospi is 0.05% higher today and now trades back above all major moving averages.
• Australian equities are lower today, earlier Retail sales missed estimates coming in at 0.1% vs 0.2% est. Financials and Health care stocks are the worst performing, offsetting gains made in Materials, with the ASX200 down 0.25%
• Elsewhere in SEA, New Zealand equities are down 0.55%, Singapore equities are 0.36% higher, Indonesian equities are 1.15% higher, Malaysian equities are down 0.15%, while the Philippines PSEi is down 0.70%