Asian Equities Mostly Higher, Tech Stocks Outperform

Asian stocks are mostly higher today, with Japan's Nikkei 225 jumped over 2% after a previous decline, Hong Kong & China benchmarks slipped following the decision to keep lending rates unchanged. Australia's ASX 200 edged up 0.2% as the Reserve Bank of Australia emphasized its focus on controlling inflation, with no immediate rate cuts expected. Meanwhile, U.S. futures are slightly higher after the S&P 500 recorded its longest winning streak since November, nearing its all-time high, while Treasury yields remain steady ahead of Federal Reserve Chair Jerome Powell's upcoming speech at Jackson Hole.

• Japanese equities are higher today, tech is outperforming tracking US tech stocks. The yen's rally has ended for the moment with the USDJPY up 0.25% and is testing 147.00. The Nikkei is up 2.20%, while the Topix is up 1.30% with banks underperforming with the Topix Bank Index up just 0.05%.
• South Korean tech stocks are the top performers today, with SK Hynix (+4%) & Samsung (+1.30%). South Korea's Financial Services Commission will reduce the mortgage loan limit for homes in the greater Seoul area starting September 1, aiming to curb rising household debt amid a rebound in apartment prices. Additional measures under consideration include expanding debt service ratio rules and increasing mortgage loan risk weights for banks. The KOSPI is 0.83% higher, while the KOSDAQ is 0.90% higher.
• Hong Kong & China equities are lower today after the LPR were left unchanged and further weakness in the property market after headlines that local governments were reducing interventions. The Mainland Property Index is down 2%, HS Property is down 1.10%, CSI 300 RE Index is down 1.55%. The HSI is currently trading 0.36% lower, while the CSI 300 is 0.70% lower.
• Taiwan are underperforming today, with the TAIEX 0.10% higher, TSMC which is the largest company in the index trading down 0.10%
• Australian equities are slightly higher today, earlier the RBA released minutes and plans to keep interest rates at a 12-year high of 4.35% for an extended period to ensure inflation returns to its 2%-3% target. Despite global peers easing policies. The ASX200 is currently 0.15% higher. New Zealand equities are down 0.90% following a fall in Utility stocks.
• Asia EM equities continue to benefit from the view of a soft landing in the US, Indonesia's JCI is 0.70% higher, India's Nifty 50 0.45% higher, Singapore's Strait Times is 0.60% higher, Philippines PSEi is 0.90% higher, while Malaysia's KLCI is 0.20% lower,