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EQUITIES: Asian Equities Mixed, Ranges Narrow, US PCE Later

EQUITIES
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Asian equities are mixed on today as investors continue to digest the Fed's hawkish policy stance and awaited US personal consumption expenditure data for November. The US has been unable to pass the stopgap funding bill yet, but overall it has been a rather quiet session as we head into the Holidays, focus will now turn to PCE numbers later tonight.

  • The data calendar saw some tier 2 data today, nothing of which really moved markets at all. New Zealand's Trade Deficit narrowed, Japan's National CPI was largely in line with expectations, while China kept the 1 & 5yr LPRs unchanged.
  • Japanese equities are trading only slightly higher with the Nikkei +0.10% & TOPIX +0.05% exporters have been the top performing following the weakening of the JPY. Banking stocks have lagged after the BoJ left interest rates unchanged, with comments from Governor Ueda dampening expectations for a January hike.
  • Hong Kong equities are trading slightly higher, however ranges are narrow. The HS Tech Index did trade 1% earlier, before paring some of those gains, the Mainland Property Index is 1.20% lower, while the wider HSI is 0.10% higher. In China mainland equities, the CSI 300 is 0.30% higher, with Tech stocks leading the way, Industrials are the worst performing sector.
  • Australia'sASX200 fell 1.3% to a seven-week low, with a weekly decline of 2.8%, marking one of its worst performances this year. Consumer discretionary stocks led losses, with Wesfarmers down 3.4% after announcing a $770 million divestment. Major banks and miners also declined, though Fortescue managed a 1.2% gain.
  • South Korea'sKOSPI declined 1.8% as foreign and institutional investors sold heavily following the Fed's hawkish stance. The KRW hovered at a 15-year low of 1,450 per dollar. Tech giants like Samsung Electronics and SK hynix fell 1.7% and 3.4%, respectively.
  • Taiwan’s Taiex declined 1.10%, led by losses in semiconductor stocks, including TSMC, last -1.90%.
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Asian equities are mixed on today as investors continue to digest the Fed's hawkish policy stance and awaited US personal consumption expenditure data for November. The US has been unable to pass the stopgap funding bill yet, but overall it has been a rather quiet session as we head into the Holidays, focus will now turn to PCE numbers later tonight.

  • The data calendar saw some tier 2 data today, nothing of which really moved markets at all. New Zealand's Trade Deficit narrowed, Japan's National CPI was largely in line with expectations, while China kept the 1 & 5yr LPRs unchanged.
  • Japanese equities are trading only slightly higher with the Nikkei +0.10% & TOPIX +0.05% exporters have been the top performing following the weakening of the JPY. Banking stocks have lagged after the BoJ left interest rates unchanged, with comments from Governor Ueda dampening expectations for a January hike.
  • Hong Kong equities are trading slightly higher, however ranges are narrow. The HS Tech Index did trade 1% earlier, before paring some of those gains, the Mainland Property Index is 1.20% lower, while the wider HSI is 0.10% higher. In China mainland equities, the CSI 300 is 0.30% higher, with Tech stocks leading the way, Industrials are the worst performing sector.
  • Australia'sASX200 fell 1.3% to a seven-week low, with a weekly decline of 2.8%, marking one of its worst performances this year. Consumer discretionary stocks led losses, with Wesfarmers down 3.4% after announcing a $770 million divestment. Major banks and miners also declined, though Fortescue managed a 1.2% gain.
  • South Korea'sKOSPI declined 1.8% as foreign and institutional investors sold heavily following the Fed's hawkish stance. The KRW hovered at a 15-year low of 1,450 per dollar. Tech giants like Samsung Electronics and SK hynix fell 1.7% and 3.4%, respectively.
  • Taiwan’s Taiex declined 1.10%, led by losses in semiconductor stocks, including TSMC, last -1.90%.