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EQUITIES: Asian Equities Edge Higher With Tech Outperforming

EQUITIES
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  • Asian stocks are mostly higher today led by gains in Hong Kong shares, as traders assessed the ongoing impact of Middle East tensions. The MSCI Asia Pacific Index rose 0.6%, boosted by major Chinese tech names like Tencent and Alibaba. Investors are optimistic about holiday spending data from the Golden Week in China, though mainland markets remain closed until Monday. Japan's stocks rose amid a weaker yen, and South Korea's market saw gains, though Taiwan edged lower after reopening post-typhoon. Despite today’s uptick, the regional benchmark is set for a 0.7% weekly decline, its first in four weeks.
  • Shipping stocks fell across Asia as US dockworkers suspended their strike, while Asian energy producers like Woodside and S-Oil saw gains due to rising oil prices on fears of further Middle East conflict.
  • China property stocks have been rather volatile today with the Mainland Property Index +1.35%, the BBG China Property gauge trades +0.50% although well off earlier highs of +6%.
  • Nasdaq 100 Futures have broken back above 20,000 although levels we have been unable to hold above for any longer than an hour or so since breaking below on Tuesday. The HSTech index is trading up 3.50% which looks to be supporting the move with other large-cap Asian tech stocks also trade higher, Sk Hynix +3.10%, Hon Hai +3.50%, TSMC +0.75% although Japan's Tokyo Electron trades 1.65% lower.
  • Elsewhere, Taiwan returns from serve weather with the Taiex -0.30%, gains in semiconductor names have been offset by losses in most other sectors and South Korean equities are seeing slightly better buying from foreign investors today which has contributed to the KOSPI trading 0.40% higher. Australia's ASX200 -0.80% has been weighed down by Miners.
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  • Asian stocks are mostly higher today led by gains in Hong Kong shares, as traders assessed the ongoing impact of Middle East tensions. The MSCI Asia Pacific Index rose 0.6%, boosted by major Chinese tech names like Tencent and Alibaba. Investors are optimistic about holiday spending data from the Golden Week in China, though mainland markets remain closed until Monday. Japan's stocks rose amid a weaker yen, and South Korea's market saw gains, though Taiwan edged lower after reopening post-typhoon. Despite today’s uptick, the regional benchmark is set for a 0.7% weekly decline, its first in four weeks.
  • Shipping stocks fell across Asia as US dockworkers suspended their strike, while Asian energy producers like Woodside and S-Oil saw gains due to rising oil prices on fears of further Middle East conflict.
  • China property stocks have been rather volatile today with the Mainland Property Index +1.35%, the BBG China Property gauge trades +0.50% although well off earlier highs of +6%.
  • Nasdaq 100 Futures have broken back above 20,000 although levels we have been unable to hold above for any longer than an hour or so since breaking below on Tuesday. The HSTech index is trading up 3.50% which looks to be supporting the move with other large-cap Asian tech stocks also trade higher, Sk Hynix +3.10%, Hon Hai +3.50%, TSMC +0.75% although Japan's Tokyo Electron trades 1.65% lower.
  • Elsewhere, Taiwan returns from serve weather with the Taiex -0.30%, gains in semiconductor names have been offset by losses in most other sectors and South Korean equities are seeing slightly better buying from foreign investors today which has contributed to the KOSPI trading 0.40% higher. Australia's ASX200 -0.80% has been weighed down by Miners.