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Asian Equities Mixed, Japanese Stocks Gains On Weaker Yen

ASIA STOCKS
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Asian markets showed mixed performance in early trading on Monday. The Jakarta Composite Index rose for the third consecutive day, driven by gains in renewable energy and voucher distribution stocks. Japanese stocks fluctuated within a tight range as automakers benefited from a weaker yen while chip-related stocks declined following a selloff led by Nvidia in the US. The Taiex Index in Taipei fell, led by declines in semiconductor stocks. In Seoul, shares opened lower due to caution ahead of key US data and earnings reports. The Australian S&P/ASX 200 index dipped slightly as investors awaited inflation data that could influence the Reserve Bank of Australia's monetary policy.

  • Japanese stocks are higher this morning with the Topix & Nikkei are both 0.4% higher. The weaker yen has help exporter, the yen hovered around 159.89 per dollar, nearing the intervention levels seen earlier this year. Japan's top currency official reiterated the readiness to intervene if necessary, maintaining pressure on the yen's depreciation.
  • South Korean equities are 0.75% lower this morning, as investors remained cautious ahead of key US data and corporate earnings. Samsung Electronics was flat, while SK hynix declined by 2.56%. Hyundai Motor and Kia pulled back by 0.18% and 0.23%, respectively. Battery shares also started in negative territory. On the other hand, steel giant POSCO Holdings gained 0.55%, and leading chemical producer LG Chem rose by 0.28%. The calendar is empty in the region today.
  • The Taiex is 1.60% lower today, led by declines in semiconductor stocks. TSMC decreased by 2.3%, contributing the most to the index decline. Min Aik Precision Industrial Co. had the largest drop, falling by 5.7%. Later today we have unemployment and industrial production data due out.
  • In Australia, the S&P/ASX 200 is 0.50% lower as investors await inflation reading later in the week that could influence the Reserve Bank of Australia's monetary policy. Australia's 10-year real yields rose by 1.8 basis points to 1.87%. The upcoming inflation data is expected to show an acceleration in annual inflation, which may present a policy challenge for the Reserve Bank of Australia, given the need to balance inflation control with economic growth.
  • Elsewhere, New Zealand equities are 0.40% lower, Singapore equities are 0.10% lower, while most other markets are higher, with Indonesia up 0.02%, Malaysia up 0.05%, while Philippines equities up 0.50%.
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Asian markets showed mixed performance in early trading on Monday. The Jakarta Composite Index rose for the third consecutive day, driven by gains in renewable energy and voucher distribution stocks. Japanese stocks fluctuated within a tight range as automakers benefited from a weaker yen while chip-related stocks declined following a selloff led by Nvidia in the US. The Taiex Index in Taipei fell, led by declines in semiconductor stocks. In Seoul, shares opened lower due to caution ahead of key US data and earnings reports. The Australian S&P/ASX 200 index dipped slightly as investors awaited inflation data that could influence the Reserve Bank of Australia's monetary policy.

  • Japanese stocks are higher this morning with the Topix & Nikkei are both 0.4% higher. The weaker yen has help exporter, the yen hovered around 159.89 per dollar, nearing the intervention levels seen earlier this year. Japan's top currency official reiterated the readiness to intervene if necessary, maintaining pressure on the yen's depreciation.
  • South Korean equities are 0.75% lower this morning, as investors remained cautious ahead of key US data and corporate earnings. Samsung Electronics was flat, while SK hynix declined by 2.56%. Hyundai Motor and Kia pulled back by 0.18% and 0.23%, respectively. Battery shares also started in negative territory. On the other hand, steel giant POSCO Holdings gained 0.55%, and leading chemical producer LG Chem rose by 0.28%. The calendar is empty in the region today.
  • The Taiex is 1.60% lower today, led by declines in semiconductor stocks. TSMC decreased by 2.3%, contributing the most to the index decline. Min Aik Precision Industrial Co. had the largest drop, falling by 5.7%. Later today we have unemployment and industrial production data due out.
  • In Australia, the S&P/ASX 200 is 0.50% lower as investors await inflation reading later in the week that could influence the Reserve Bank of Australia's monetary policy. Australia's 10-year real yields rose by 1.8 basis points to 1.87%. The upcoming inflation data is expected to show an acceleration in annual inflation, which may present a policy challenge for the Reserve Bank of Australia, given the need to balance inflation control with economic growth.
  • Elsewhere, New Zealand equities are 0.40% lower, Singapore equities are 0.10% lower, while most other markets are higher, with Indonesia up 0.02%, Malaysia up 0.05%, while Philippines equities up 0.50%.