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Asian Equities Mixed, Aus & NZ Outperform, SK Attracting Investments

ASIA STOCKS
Regional Asian equities are mostly lower today, with Australia and New Zealand equities showing the strongest performance. Markets are anticipating a busy week for economic indicators, including the Fed's preferred inflation gauge. Earlier, Japan's currency chief warned of significant moves in the FX markets driven by market speculation rather than fundamentals, in relation to the weakening yen from the past week.
  • Japan's equities are lower today as investors seek to lock in profits after the Nikkei hit new all-time highs on Friday, while the Topix marked a 6-day advance on Friday. Exporters are lower today as the yen edged higher following a warning from Japan's Currency Chief to the FX market. Looking ahead, Japan has the Leading & Coincident Index and Store Sales data releasing later. The Topix is down 0.80%, while the Nikkei 225 is down 0.65%.
  • South Korean equities are slightly lower to unchanged. Tech names are the top performers. Representatives from various international financial firms are visiting Korea to explore investment opportunities and discuss corporate governance practices amid the government's Corporate Value-up Program launch, aiming to enhance transparency and attract more overseas investments. The trip organized by the Asian Corporate Governance Association aligns with efforts to improve Korea's corporate governance standards and elevate the valuation of listed companies, potentially increasing foreign investor interest in the Korean market. The Kospi is down 0.12%.
  • Taiwanese equities are slightly lower today, with very little in the way of market news and headlines out of the region. The Philadelphia SE Semiconductor Index was only slightly higher on Friday, while local semiconductor names including TSMC are lower. The Taiex is down 0.13%.
  • Australian equities are higher today, with banks leading the gains. Earlier, Fitch Ratings stated that "The ratings of the four major Australian banks have significant buffers to withstand a slowing economy and higher unemployment," while miners are also higher. The ASX200 is up 0.57%.
  • Elsewhere in SEA, New Zealand equities are higher, up 0.72%, Singapore Equities up 0.40%, Indonesian equities are unchanged while Malaysian equities are down 0.44%.

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