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ASIA STOCKS: China Markets Weaker Despite Consumer Support, Aust Mkt Up On CPI

ASIA STOCKS
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Markets in North East Asia are negative, with the exception of South Korean stocks. At this stage, China and Hong Kong markets are off the most, around 1.5-1.6% weaker for the aggregate headline CSI 300 and HSI indices. The onshore briefing around the expanded consumer trade in program for appliances and motor vehicles not shifting the sentiment needle positively. 

  • Consumer related sub indices for the CSI 300 are weaker, while the property sub index is also softer, down 2.2% at this stage. In HK the tech sub index is down 2.2% as well. Broader tech headlines from Tuesday US trade, as Nvidia pulled back, aren't helping sentiment in this space. In Taiwan, the Taiex is off around 0.80%.
  • In contrast, South Korea markets have bucked the softer trends, with the Kospi rebounding from opening weakness, last up over 1.1%. We had disappointment earning results from both Samsung and LG, but dips have been bought. All the bad news is priced in has been cited as a positive for Samsung.
  • In Australia, the ASX 200 is up close to 1%. Sentiment has been supported by the Nov CPI print, which showed the trimmed mean moderated further in y/y terms, supporting local bonds and RBA rate cut prospects.
  • For SEA markets, trends are mixed, Singapore stocks higher, but a mostly negative bias elsewhere.  
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Markets in North East Asia are negative, with the exception of South Korean stocks. At this stage, China and Hong Kong markets are off the most, around 1.5-1.6% weaker for the aggregate headline CSI 300 and HSI indices. The onshore briefing around the expanded consumer trade in program for appliances and motor vehicles not shifting the sentiment needle positively. 

  • Consumer related sub indices for the CSI 300 are weaker, while the property sub index is also softer, down 2.2% at this stage. In HK the tech sub index is down 2.2% as well. Broader tech headlines from Tuesday US trade, as Nvidia pulled back, aren't helping sentiment in this space. In Taiwan, the Taiex is off around 0.80%.
  • In contrast, South Korea markets have bucked the softer trends, with the Kospi rebounding from opening weakness, last up over 1.1%. We had disappointment earning results from both Samsung and LG, but dips have been bought. All the bad news is priced in has been cited as a positive for Samsung.
  • In Australia, the ASX 200 is up close to 1%. Sentiment has been supported by the Nov CPI print, which showed the trimmed mean moderated further in y/y terms, supporting local bonds and RBA rate cut prospects.
  • For SEA markets, trends are mixed, Singapore stocks higher, but a mostly negative bias elsewhere.