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Asian Equities Mixed, Ranges Tight Ahead Of US CPI & FOMC Later

ASIA STOCKS
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Asian equities had a mixed performance this morning. Shares of Apple suppliers in South Korea and Japan advanced after Apple's record high on AI hopes, while Japanese stocks overall fell due to a weaker yen and cautious sentiment ahead of key US inflation data and a Federal Reserve rate decision. Conversely, Australian stocks fell, led by the mining sector, ahead of upcoming jobs data. The MSCI Asia Pacific declined as much as 0.40%.

  • Japanese stocks dare lower today, with the downturn following a slip in the US Dow overnight, despite gains in the tech-rich Nasdaq and S&P 500 driven by a surge in Apple shares. Major companies like Toyota Motor, Daiichi Sankyo, and Sony Group contributed to the losses, reflecting investor caution ahead of a busy night for US data with the FOMC and the release of US inflation data. The market's apprehension is further compounded by concerns over the Bank of Japan's potential monetary policy actions to address the weak yen. The Nikkei 225 is 0.63% lower, while the Topix is 0.70% lower.
  • South Korean stocks are slightly higher today, with shares of Apple suppliers advancing after Apple's record high on new AI features. The Kospi index saw gains as investors responded to the strong performance of Wall Street's tech sector. Morgan Stanley analysts recommended buying shares in the iPhone supply chain, suggesting that companies like Hon Hai, Largan, Luxshare, Genius, AAC, and Foxconn Industrial Internet could benefit from weak traction in Huawei’s newly launched Pura smartphone. The Kospi is 0.44% higher, while the small-cap Kosdaq is up 0.15%
  • Taiwan equities are higher today, led higher by tech names. Foreign investors have been selling local stocks recently, with a large $1b outflow on Tuesday, although domestic investors have been able to easily absorb the supply with the Taiex trading near record highs. Focus will now turn to the central bank rate decision tomorrow. The Taiex is up 1% today.
  • Australian stocks are lower today, the decline was primarily driven by weakness in the mining sector, reflecting broader concerns ahead of significant economic data releases. Investors are focused on the Federal Reserve's interest rate decision and US inflation data due tonight, while attention will shift to Australian jobs data on Thursday. The downturn in Australian equities mirrors a mixed performance across the Asia-Pacific region, with broader market volatility anticipated due to these pivotal economic developments. The ASX200 is down 0.60%
  • Elsewhere in SEA, New Zealand Equities are unchanged, Singapore equities are 0.16% higher, Malaysian equities are 0.15% higher, Indian equities are 0.50% higher, while Indonesian equities are lower at the currency hits 4 year lows and Morgan Stanley downgrades local stocks to underweight.
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Asian equities had a mixed performance this morning. Shares of Apple suppliers in South Korea and Japan advanced after Apple's record high on AI hopes, while Japanese stocks overall fell due to a weaker yen and cautious sentiment ahead of key US inflation data and a Federal Reserve rate decision. Conversely, Australian stocks fell, led by the mining sector, ahead of upcoming jobs data. The MSCI Asia Pacific declined as much as 0.40%.

  • Japanese stocks dare lower today, with the downturn following a slip in the US Dow overnight, despite gains in the tech-rich Nasdaq and S&P 500 driven by a surge in Apple shares. Major companies like Toyota Motor, Daiichi Sankyo, and Sony Group contributed to the losses, reflecting investor caution ahead of a busy night for US data with the FOMC and the release of US inflation data. The market's apprehension is further compounded by concerns over the Bank of Japan's potential monetary policy actions to address the weak yen. The Nikkei 225 is 0.63% lower, while the Topix is 0.70% lower.
  • South Korean stocks are slightly higher today, with shares of Apple suppliers advancing after Apple's record high on new AI features. The Kospi index saw gains as investors responded to the strong performance of Wall Street's tech sector. Morgan Stanley analysts recommended buying shares in the iPhone supply chain, suggesting that companies like Hon Hai, Largan, Luxshare, Genius, AAC, and Foxconn Industrial Internet could benefit from weak traction in Huawei’s newly launched Pura smartphone. The Kospi is 0.44% higher, while the small-cap Kosdaq is up 0.15%
  • Taiwan equities are higher today, led higher by tech names. Foreign investors have been selling local stocks recently, with a large $1b outflow on Tuesday, although domestic investors have been able to easily absorb the supply with the Taiex trading near record highs. Focus will now turn to the central bank rate decision tomorrow. The Taiex is up 1% today.
  • Australian stocks are lower today, the decline was primarily driven by weakness in the mining sector, reflecting broader concerns ahead of significant economic data releases. Investors are focused on the Federal Reserve's interest rate decision and US inflation data due tonight, while attention will shift to Australian jobs data on Thursday. The downturn in Australian equities mirrors a mixed performance across the Asia-Pacific region, with broader market volatility anticipated due to these pivotal economic developments. The ASX200 is down 0.60%
  • Elsewhere in SEA, New Zealand Equities are unchanged, Singapore equities are 0.16% higher, Malaysian equities are 0.15% higher, Indian equities are 0.50% higher, while Indonesian equities are lower at the currency hits 4 year lows and Morgan Stanley downgrades local stocks to underweight.