Asian Equities Mixed, South Korea Outperforms On Strong Foreign Equity Inflows

Regional Asia Equities are mixed today, as the BBG Asia Index trades up just 0.03%. South Korean equities are the top performing in the region rising to highest levels since May 2022.

• Japan equities are mostly unchanged for the day as investors raise concerns around US rate cut timing on the back of higher than expected inflation data out of the US, Japanese equities have had a stellar run of late, the Nikkei 225 is nearing all time highs. Traders have also pared back bets that the Nikkei to reach 40,000 in march from Friday. Financials are the top performers in the region today, while Tech lags. Currently the Nikkei 225 is 0.38% lower, while the the Topix trades close to unchanged just 0.05% higher.
• Taiwan is trading slightly higher today, led by Finance and Insurance names. While Spirox, who provide solutions and products to semiconductor sector is trading up 5.26% on very little news. Taiex is up 0.11%.
• South Korean equities are the top performers in the region today, hitting new highs not seen since May 2022. Foreign inflows have rebounded from a lull last week hitting $265m so far in early trading, on expectations that the government will continue to support the market and close the "Korea Discount", Kospi is up 0.75%.
• Australian Equities are slightly higher today, up 0.20% led by the mining and industrials sectors. A2 Milk is up by 13% after an earnings beat.
• Thailand released GDP earlier coming in at 1.7% vs 2.6% estimated, equities to open shortly.
• Elsewhere in SEA, New Zealand equities are down 0.40%, Malaysia & Philippines equities down ~0.20%.