Asian Equities Off Earlier Lows, ASX Hits Record Highs, Japan Out

Asian equity markets are mixed today as markets digests the attempted assassination of Trump and US rate cut expectations grow with the market now pricing a 91% chance of a cut in September. Australian equities have hit their highest ever level, while Taiwan & South Korean equities are both lower as investors look to book some profits after a stellar run of late, foreign investors have been better sellers of local tech stocks over the past few sessions.

• Japan is out today for Marine Day, Japanese equity futures are 0.20-0.30% higher today after falling 1-3% on Friday.
• South Korean stocks are lower today as foreign investors sell tech stocks, while local investors purchase tech. Elsewhere Money supply jumped 0.50% in May from -0.3% prior. The Kospi is 0.06% lower, while the Kosdaq is little changed.
• Taiwanese stocks opened higher this morning with moves from TSMC dictating index moves. TSMC will released earnings later this week, with analysts expecting a 30% jump in profit. Equity flows saw the largest outflow in two weeks on Friday, as foreign investors took profit on tech stocks. Currently the Taiex is down 0.20%
• Australian equities are higher today with the ASX200 breaking 8,000 for the first time and trades up 0.63% today.
• Elsewhere, New Zealand equities are 0.10% higher, Malaysian equities are 0.40% higher, Philippines equities are 1% higher, Indian equities are 0.30% Singapore equities are little changed while Indonesian equities are 0.60% lower.