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Asian Equities Rebound From Friday's Sell-Off

ASIA STOCKS
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Regional Asian equities opened mostly higher today recovering somewhat from Friday's losses triggered by geopolitical tensions in the Middle East eased and a broad selloff in US tech shares, caused by Nvidia's significant decline of 10%. There is little on the calendar in the region today, looking at cross assets yields have ticked up with the US 2yr now trading back above 5%, while the USD is down against most G10 currencies.

  • Japanese stocks bounced back today, recovering from last week's downturn amid easing tensions in the Middle East. The Nikkei 225 index rose by 0.57% to 37,254 and is now back above the 100-day EMA, while the broader Topix climbed 1.50% to 2,665. Toyota Motor and Bank stocks have fueled the Topix's gains. However, caution prevailed, particularly in chip-related stocks, following underwhelming orders at ASML Holdings and a cautious outlook from TSMC, which explains the underperformance by the Nikkei. Investors are also monitoring government actions to support the yen, which has been hovering near its weakest level since 1990 against the dollar.
  • South Korean equities are higher today, and now trades unchanged for the year. The Kospi traded below the 200-day EMA for the first time since Mid Jan, however has bounced back up 0.80% to 2,612 today and is now testing the 100-day EMA at 2,619. Focus this week will be on Wednesday when GDP is released.
  • Taiwan equities were hammered on Friday, they were by far the worst performing market in the region as TSMC forecast and Israel/Iran conflict were the main catalysts for the sell-off. Later today Unemployment and Export Orders are due out, while the Taiex is up 0.68% today
  • Australian equities are higher today and have erased all of Friday's sell-off, energy is the only sector lower today after being the top performing sector on Friday while Financials and Mining stocks are the top performers today. The ASX200 is up 1.15% and is now testing the 50-day EMA, looking ahead CPI is due out on Wednesday.
  • Elsewhere in SEA, New Zealand Equities are dup 0.17%, Singapore equities are 1.26% higher, Malaysian equities up 0.61% and Philippines equities are 0.33% higher.
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Regional Asian equities opened mostly higher today recovering somewhat from Friday's losses triggered by geopolitical tensions in the Middle East eased and a broad selloff in US tech shares, caused by Nvidia's significant decline of 10%. There is little on the calendar in the region today, looking at cross assets yields have ticked up with the US 2yr now trading back above 5%, while the USD is down against most G10 currencies.

  • Japanese stocks bounced back today, recovering from last week's downturn amid easing tensions in the Middle East. The Nikkei 225 index rose by 0.57% to 37,254 and is now back above the 100-day EMA, while the broader Topix climbed 1.50% to 2,665. Toyota Motor and Bank stocks have fueled the Topix's gains. However, caution prevailed, particularly in chip-related stocks, following underwhelming orders at ASML Holdings and a cautious outlook from TSMC, which explains the underperformance by the Nikkei. Investors are also monitoring government actions to support the yen, which has been hovering near its weakest level since 1990 against the dollar.
  • South Korean equities are higher today, and now trades unchanged for the year. The Kospi traded below the 200-day EMA for the first time since Mid Jan, however has bounced back up 0.80% to 2,612 today and is now testing the 100-day EMA at 2,619. Focus this week will be on Wednesday when GDP is released.
  • Taiwan equities were hammered on Friday, they were by far the worst performing market in the region as TSMC forecast and Israel/Iran conflict were the main catalysts for the sell-off. Later today Unemployment and Export Orders are due out, while the Taiex is up 0.68% today
  • Australian equities are higher today and have erased all of Friday's sell-off, energy is the only sector lower today after being the top performing sector on Friday while Financials and Mining stocks are the top performers today. The ASX200 is up 1.15% and is now testing the 50-day EMA, looking ahead CPI is due out on Wednesday.
  • Elsewhere in SEA, New Zealand Equities are dup 0.17%, Singapore equities are 1.26% higher, Malaysian equities up 0.61% and Philippines equities are 0.33% higher.