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Asian Equities Mixed, Focus On BoJ Next Week

ASIA STOCKS
Asian Equities are mixed today, with South Korea the top performing region. The BBG APAC Index is down 0.08%.
  • Japanese equities have opened lower on Thursday as investors continue to asses whether the BoJ will raise rates for the first time since 2007 at next weeks meeting, many Japanese companies agreed to increases wages on Wednesday above the rate from last year of 3.8%, all eyes will be on the annual tally of pay results from Rengo due out on Friday. The BoJ is contemplating discontinuing the purchase of ETFs if the central bank's inflation target becomes achievable, given the market's recent record high, while remaining committed to stabilizing the bond market and intervening in case of sharp yield rises, signaling a potential shift in its monetary policy. The Nikkei 225 is down 0.56% with tech names contributing most to the fall, while the Topix is down 0.15%.
  • South Korea is updating its stewardship code to encourage institutional investors to engage more actively with companies they invest in, aiming to boost corporate value. The revised code requires investors to assess companies' plans for enhancing their value, with plans to develop a new "Corporate Value-up Program" and index, aiming to list related ETFs later in the year. The Kospi is up 0.31%.
  • Taiwan equities have opened lower on Thursday, there has been little in the way of market headlines. The Philadelphia Semiconductor index was down 2.47% on Wednesday, which may weigh on tech names today, while the Taiex is down 0.28%
  • Australian equities are little changed today, it is a quiet couple of days in terms of economic data for Australia as we head into the RBA meeting next week. Financials are weighing on the market today, with the Big four banks down 1-3%, while miners are the top performing sector
  • Elsewhere in SEA, New Zealand equities are down 0.20% earlier house price sales picked up, Singapore equities are up 0.10%. On Tuesday Malaysian equities broke a run of 9 straight days of net outflows, equities are down 1.27% since.
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