EQUITIES: Asian Equities Edge Higher, Tech Outperforming Ahead Of Earnings

Most Asian equity markets are trading higher today with gains seen in South Korea, Taiwan, Australia, China, while Japanese equities are mixed, Hong Kong equities are the worst performing across the region. Chinese stocks rose after banks cut lending rates to support economic growth, with the CSI 300 up 0.85%, while the small & growth focus indices jumped 2-3%. Middle East tensions pushed gold to a record high above $2,730 while other previous metals followed with silver, palladium, and platinum also trading higher.

• Asian tech stocks are the top performers today with TSMC and SK Hynix driving gains, particularly due to continued enthusiasm for AI chip stocks. Tech stocks in Hong Kong were lower, however they did outperform the wider market, with the HSTech index -0.25% vs the HSI down 0.55%. Elsewhere in tech, Australia's Wisetech Global plunged 11.4% after concerns arose regarding the company's leadership.
• South Korea has seen small inflows from foreign investors today, with focus on buying tech stocks, while they have been better sellers of Transport, Financials & Steel names
• Previous metal miners continue to benefit from higher commodity prices, as gold makes new all time highs, while Silver trades up 7.10% over the past three sessions.
• US equity futures are trading little changed today with Dow Jones +0.05%, S&P 500 unch & Nasdaq 100 -0.08%.
• It is a quiet week for economic data in Asia & US this week, key meetings from the IMF and World Bank will be closely watched. Drivers of prices this week will largely be earnings related, 15% of S&P 500 due to report this week with Verizon, GE, Lockheed Martin, Coca-Cola to report first.