Asian Equities Mixed, Foreign Investors Sell Tech Stocks

Asian equity markets are mixed today as markets digest the attempted assassination of Trump and US rate cut expectations grow with the market now pricing a 91% chance of a cut in September. Australian equities have hit their highest ever level, while Taiwan & South Korean equities sell off. Locally, focus will be on China when they release GDP, Industrial Production & Retail Sales and the Third Plenum policy meeting starts today.

• Japan is out today for Marine Day, Japanese equity futures are 0.20% higher today after falling 1-3% on Friday.
• South Korean stocks have opened lower this morning key tech stocks were mixed, while financial firms and carmakers opened weaker amid profit taking. The KRW falls 0.50% as foreign investors sell local stocks, later today we have May Money Supply. The Kospi is 0.05% lower, while the Kosdaq is 0.15%.
• Taiwanese stocks have opened higher today, TSMC will released earnings later this week, with analysts expecting a 30% jump in profit. Equity flows saw the largest outflow in two weeks on Friday, while the Taiex is 0.10% higher in early morning trading.
• Australian equities are higher today with the ASX200 breaking 8,000 for the first time and trades up 0.76% today.
• Elsewhere, New Zealand equities are 0.20% higher, Malaysian equities are 0.10% higher, Singapore equities are little changed, while Philippines equities are 00.10% lower.