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Asian Equities Mixed, Japan's Real Wages Continue Decline

ASIA STOCKS
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Asian equities are mixed today, following weaker US employment figures. Investors are also focused on upcoming central bank decisions and key economic data from the US and China later this week. Tech stocks are the top performing sector, especially TSMC which is trading up 3%. The data calendar is light on in the region today, with market largely focus on the French elections.

  • Japanese stocks are lower today, with the Topix falling 0.29% while the Nikkei 225 edged up by 0.2% despite a decline in real wages for the 26th consecutive month due to a weaker yen and higher import costs. The drop was influenced by softer US employment figures and profit-taking by ETF managers to secure dividends. Hitachi contributed significantly to the decline, decreasing by 2.3%. Additionally, Nippon Paint and Rakuten Group saw notable declines due to anticipated outflows following the Topix index rebalance. Investors are cautious ahead of key economic data and central bank decisions later this week.
  • South Korean equities initially opened higher this morning, however have pared gains. Hopes of a US rate cut has supported markets, tech and autos have been the top performing names while Financials have underperformed. The Kospi is unchanged, while the Kosdaq is up 1.10%.
  • Taiwanese equities are higher today, most of the index moves can be attributed to the 3% rise in TSMC. Focus will turn to Trade Balance data due out tomorrow afternoon. The Taiex is currently trading up 1.68%.
  • Australian equities are lower this today, the decline is primarily driven by weakness in iron ore miners such as BHP and Rio Tinto, as well as financial shares. A significant slump in iron ore prices has added to the pressure, setting the market further behind global peers ahead of crucial US inflation data later this week. Despite a strong lead from Wall Street, Australian equities continue to underperform due to concerns over Chinese demand and signs of oversupply in the iron ore market. The ASX200 is down 0.70%.
  • Elsewhere, New Zealand equities are 0.76% lower, Indonesian equities are unchanged Singapore equities are 0.22% lower, Malaysian equities are down 0.35%, while Philippines equities are up 0.65%.
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Asian equities are mixed today, following weaker US employment figures. Investors are also focused on upcoming central bank decisions and key economic data from the US and China later this week. Tech stocks are the top performing sector, especially TSMC which is trading up 3%. The data calendar is light on in the region today, with market largely focus on the French elections.

  • Japanese stocks are lower today, with the Topix falling 0.29% while the Nikkei 225 edged up by 0.2% despite a decline in real wages for the 26th consecutive month due to a weaker yen and higher import costs. The drop was influenced by softer US employment figures and profit-taking by ETF managers to secure dividends. Hitachi contributed significantly to the decline, decreasing by 2.3%. Additionally, Nippon Paint and Rakuten Group saw notable declines due to anticipated outflows following the Topix index rebalance. Investors are cautious ahead of key economic data and central bank decisions later this week.
  • South Korean equities initially opened higher this morning, however have pared gains. Hopes of a US rate cut has supported markets, tech and autos have been the top performing names while Financials have underperformed. The Kospi is unchanged, while the Kosdaq is up 1.10%.
  • Taiwanese equities are higher today, most of the index moves can be attributed to the 3% rise in TSMC. Focus will turn to Trade Balance data due out tomorrow afternoon. The Taiex is currently trading up 1.68%.
  • Australian equities are lower this today, the decline is primarily driven by weakness in iron ore miners such as BHP and Rio Tinto, as well as financial shares. A significant slump in iron ore prices has added to the pressure, setting the market further behind global peers ahead of crucial US inflation data later this week. Despite a strong lead from Wall Street, Australian equities continue to underperform due to concerns over Chinese demand and signs of oversupply in the iron ore market. The ASX200 is down 0.70%.
  • Elsewhere, New Zealand equities are 0.76% lower, Indonesian equities are unchanged Singapore equities are 0.22% lower, Malaysian equities are down 0.35%, while Philippines equities are up 0.65%.