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Asian Equities Mixed, Nintendo Reports Weak Outlook

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Asian markets are lower in early morning trading on Wednesday, Japanese equities are underperforming in the region after Nintendo reported weak outlook and while investors await results from Toyota later today. In the currency space, local FX is weaker vs the USD with KRW the worst performer, followed by the JPY, weaker local currency could support export names, however there has been little signs of that this morning. There is little on the calendar today in the region, markets will be focused on corporate earnings and any hints from Fed speakers later tonight.

  • Japanese equities are lower today, dragged down by weaker tech stocks as the rally in the US seems to have lost steam. Nintendo's share tumbled after the company warned of a sharp fall in profit and expects operating income to fall a bigger-than-expected 24% to ¥400 billion ($2.6 billion) on a 19% revenue decline in the year to March 2025. The JPY is down 0.32% to 155.15 after BoJ Gov Ueda said he doesn't see yen moves as having a big impact on trend inflation at the moment, while Suzuki again warned about excessive FX moves. The Nikkei and Topix are both down about 1.20%.
  • South Korean equities are little changed on Wednesday, HD Hyundai Marine jumped as much as 45% after largest Korean IPO since 2022. There has been little else in the way of headlines in the region while data remains light for the next week The Kospi is currently up 0.10%
  • Taiwan equities are slightly lower today after headline CPI inched down to 2.0% y/y in April from 2.1% prior. The print fell back within the central bank's target range of 0-2%. The outcome was meaningfully below Bloomberg consensus of 2.2%. Looking ahead, later we have Trade Balance data while the Taiex currently trades down 30%.
  • Australian equities are little changed today after the RBA kept rates on hold yesterday. The market was expected a slightly move hawkish tone from the bank, which saw the yields curve bull-flatten. The ASX200 has held onto recently gains and eyes a break of 7,800.
  • Elsewhere in SEA, New Zealand equities are down 0.10%, Singapore equities down 0.75%, Philippines equities down 0.67% while Malaysian equities trade 0.13% higher and Indonesian equities are 0.15%.
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Asian markets are lower in early morning trading on Wednesday, Japanese equities are underperforming in the region after Nintendo reported weak outlook and while investors await results from Toyota later today. In the currency space, local FX is weaker vs the USD with KRW the worst performer, followed by the JPY, weaker local currency could support export names, however there has been little signs of that this morning. There is little on the calendar today in the region, markets will be focused on corporate earnings and any hints from Fed speakers later tonight.

  • Japanese equities are lower today, dragged down by weaker tech stocks as the rally in the US seems to have lost steam. Nintendo's share tumbled after the company warned of a sharp fall in profit and expects operating income to fall a bigger-than-expected 24% to ¥400 billion ($2.6 billion) on a 19% revenue decline in the year to March 2025. The JPY is down 0.32% to 155.15 after BoJ Gov Ueda said he doesn't see yen moves as having a big impact on trend inflation at the moment, while Suzuki again warned about excessive FX moves. The Nikkei and Topix are both down about 1.20%.
  • South Korean equities are little changed on Wednesday, HD Hyundai Marine jumped as much as 45% after largest Korean IPO since 2022. There has been little else in the way of headlines in the region while data remains light for the next week The Kospi is currently up 0.10%
  • Taiwan equities are slightly lower today after headline CPI inched down to 2.0% y/y in April from 2.1% prior. The print fell back within the central bank's target range of 0-2%. The outcome was meaningfully below Bloomberg consensus of 2.2%. Looking ahead, later we have Trade Balance data while the Taiex currently trades down 30%.
  • Australian equities are little changed today after the RBA kept rates on hold yesterday. The market was expected a slightly move hawkish tone from the bank, which saw the yields curve bull-flatten. The ASX200 has held onto recently gains and eyes a break of 7,800.
  • Elsewhere in SEA, New Zealand equities are down 0.10%, Singapore equities down 0.75%, Philippines equities down 0.67% while Malaysian equities trade 0.13% higher and Indonesian equities are 0.15%.