Free Trial

China/HK Struggle, South Korea & Taiwan Higher On Better Tech Sentiment

EQUITIES

It has been a mixed bag for regional equities today. Heavyweights China/HK have struggled for upside traction, likewise for Japan shares. US futures are close to flat currently, but this follows a positive session through Tuesday. Sentiment, elsewhere in the region, has been more positive though.

  • The HSI is down slightly currently, with the tech sub index off -1.60% at this stage. China mainland stocks are a touch weaker compared to HSI, down around 0.25% at this stage.
  • Headline flow has been light, with China looking for closer ties with Taiwan, while Biden's State of The Union stressed the US doesn't want conflict with China. Fitch revised its 2023 GDP forecast for China to 5%, but this is in line with other estimates.
  • The Nikkei 225 sits -0.45% lower at this stage, with Japan looking at revising travel rules for China visitors this month.
  • The Kospi and Taiex have performed better. The Kospi up 1.23%, the Taiex +1.44%, which is line with the rebound in major tech indices through Tuesday's session.
  • Indian shares are holding up, +0.50% for the Nifty at this stage, despite a hawkish +25bps hike from the RBI earlier.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.