Asian Equities Push Higher, As Tech Names Out-Perform

Regional Asian Equities have mostly followed US stocks higher today after strong month-end flows and US inflation data put investors at ease. Japan is the best performer in the region, while South Korea is out for Independence day

• Japan equities are higher today, following wider markets after the US index closed at records highs as Tech names led the move. The BoJ Governor Kazuo Ueda was out earlier saying that price goals are not yet in sight, while he will be closely watching wage data. In local markets Tokyo Electron contributed the most to the index up 1.5%, with the Topix up 1.18%, while the Nikkei 225 trades up 1.95% led by tech names.
• South Korean markets are closed today for Independence Day
• Taiwan Equities are slightly lower today, Taiex Down 0.10%, after initially trading up 0.20%. TSMC is the biggest contributor to the market after the Philadelphia Stock Exchange Semiconductor Index pushed 2.70% higher on Thursday. Foreign equity flows are slowing with just $3.1 flowing into the market on Thursday.
• Australian equities have followed US equities higher and officially enter a bull market after rallying 20% off the June 2022 lows. Strong corporate earnings have helped push the market higher with Life 360 the standout today, up 36% on expansion plans. The ASX200 closed 0.53% higher.
• Indian Equities have surged higher today and the most in almost a month after data showed the economy grew at a faster pace than expected in the last quarter, the Nifty 50 is 1% higher today.
• Elsewhere in SEA, NZ equities have reversed earlier losses to trade unchanged, while Indonesian equities continue to see outflows with another $40.75m, with equities down 0.60%.