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Asian Stocks Higher, As US Tech Names Rally

ASIA STOCKS
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Asian equities are higher Today following moves made overnight after US tech names help push markets to new all time highs. Indian stocks rose after Prime Minister Narendra Modi secured crucial support from two key coalition allies, enabling him to extend his decade-long tenure in power. Global yields continue tighten as markets price in two fed rate cuts into year-end, while lower Oil prices could also help bring yields down further. Overnight, private payrolls showed hiring at companies grew at the slowest pace since the start of the year, with eyes now on the US jobs data out on Friday. Earlier, NZ ANZ commodity export prices rose, while construction work fell, AU April Trade Surplus widen, and Japan's Tokyo May Office vacancies rose.

  • Japanese equities are higher today, although well of earlier highs, sentiment around fed cuts improve follow a slowdown in private job growth have help stocks. Tech stocks are performing well, following moves made overnight. While the yen weakens a touch and JGB yields falling is helping the local market. Earlier, the Japan Tokyo may office vacancies rose to 5.48% from 5.38% prior. The tech heavy Nikkei 225 is up about 0.60%, while the Topix is 0.30%.
  • Taiwan equities have surged higher today and are now testing all time highs, the moves can be attributed to strong tech prices in the US overnight and weaker than expected US employment change which saw rate cut projections gain. The Taiex is up 2%
  • Australian equities also higher today, earlier the Trade Surplus widened to 6,548M m/m in May vs. 5,500M expected, while home loan value jumped as higher rental yields attract property investors. All sectors are in the green today, with Financials the top performing, followed by industrial names. The ASX200 is up 0.80%.
  • Elsewhere in SEA, New Zealand Equities are 0.10% lower as the NZD currency continues to tick higher. Singapore equities are 0.50% higher following weaker-than expected Retail Sales yesterday. The Indonesian JCI is 0.10% higher, earlier we broke back above 7,000 and were up over 1%. The Philippines PSEi is up 0.80% following the unemployment rate rising to 4$ from 3.9%. Indian equities are 0.70% higher after President Modi secured support.
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Asian equities are higher Today following moves made overnight after US tech names help push markets to new all time highs. Indian stocks rose after Prime Minister Narendra Modi secured crucial support from two key coalition allies, enabling him to extend his decade-long tenure in power. Global yields continue tighten as markets price in two fed rate cuts into year-end, while lower Oil prices could also help bring yields down further. Overnight, private payrolls showed hiring at companies grew at the slowest pace since the start of the year, with eyes now on the US jobs data out on Friday. Earlier, NZ ANZ commodity export prices rose, while construction work fell, AU April Trade Surplus widen, and Japan's Tokyo May Office vacancies rose.

  • Japanese equities are higher today, although well of earlier highs, sentiment around fed cuts improve follow a slowdown in private job growth have help stocks. Tech stocks are performing well, following moves made overnight. While the yen weakens a touch and JGB yields falling is helping the local market. Earlier, the Japan Tokyo may office vacancies rose to 5.48% from 5.38% prior. The tech heavy Nikkei 225 is up about 0.60%, while the Topix is 0.30%.
  • Taiwan equities have surged higher today and are now testing all time highs, the moves can be attributed to strong tech prices in the US overnight and weaker than expected US employment change which saw rate cut projections gain. The Taiex is up 2%
  • Australian equities also higher today, earlier the Trade Surplus widened to 6,548M m/m in May vs. 5,500M expected, while home loan value jumped as higher rental yields attract property investors. All sectors are in the green today, with Financials the top performing, followed by industrial names. The ASX200 is up 0.80%.
  • Elsewhere in SEA, New Zealand Equities are 0.10% lower as the NZD currency continues to tick higher. Singapore equities are 0.50% higher following weaker-than expected Retail Sales yesterday. The Indonesian JCI is 0.10% higher, earlier we broke back above 7,000 and were up over 1%. The Philippines PSEi is up 0.80% following the unemployment rate rising to 4$ from 3.9%. Indian equities are 0.70% higher after President Modi secured support.