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EQUITIES: Asian Equities Mixed, Tariffs The Focus, RBNZ Lower OCR

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Asian markets are trading mixed today as investors weigh US trade policies and weaker corporate earnings. Korean chipmakers and Japanese automakers fell amid concerns over US tariffs and subsidies, while Chinese stocks declined as industrial profits dropped 10% in October, highlighting economic pressure. The HSI approached a two-month low, with auto stocks underperforming but Chow Tai Fook surging on a share buyback plan.

  • A stronger Yen is weighing on Japanese equities today, the USD/JPY was last -0.24% at 152.71. The TOPIX is -0.85%, while the Nikkei is 0.75% lower.
  • Australian shares advanced, led by gains in consumer discretionary and mining stocks, as inflation data eased concerns over RBA policy shifts, the ASX200 is 0.60% higher, trading just shy of all time highs. New Zealand equities are also higher, with the NZX50 up 0.40% following a 50bps cut from the RBNZ, however this was expected.
  • Semiconductors stocks in the region tracked global peers lower, following Qualcomm cooling on a takeover of Intel, while the sector also saw some headwinds following comments from Vivek Ramaswamy calling the Chips Act “wasteful.”
  • Foreign investors have again been better sellers of South Korean equities today, with $130m of outflows from tech names, they have however been buying services, financials and communication stocks, the market is currently let with a net outflow of $40m.
  • Meanwhile, weaker-than-expected earnings from Dell and HP weighed on Asian tech hardware makers, though HP's strength in printers provided a bright spot for Japanese peers. Overall, regional sentiment remains cautious amid lingering macro uncertainties.
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Asian markets are trading mixed today as investors weigh US trade policies and weaker corporate earnings. Korean chipmakers and Japanese automakers fell amid concerns over US tariffs and subsidies, while Chinese stocks declined as industrial profits dropped 10% in October, highlighting economic pressure. The HSI approached a two-month low, with auto stocks underperforming but Chow Tai Fook surging on a share buyback plan.

  • A stronger Yen is weighing on Japanese equities today, the USD/JPY was last -0.24% at 152.71. The TOPIX is -0.85%, while the Nikkei is 0.75% lower.
  • Australian shares advanced, led by gains in consumer discretionary and mining stocks, as inflation data eased concerns over RBA policy shifts, the ASX200 is 0.60% higher, trading just shy of all time highs. New Zealand equities are also higher, with the NZX50 up 0.40% following a 50bps cut from the RBNZ, however this was expected.
  • Semiconductors stocks in the region tracked global peers lower, following Qualcomm cooling on a takeover of Intel, while the sector also saw some headwinds following comments from Vivek Ramaswamy calling the Chips Act “wasteful.”
  • Foreign investors have again been better sellers of South Korean equities today, with $130m of outflows from tech names, they have however been buying services, financials and communication stocks, the market is currently let with a net outflow of $40m.
  • Meanwhile, weaker-than-expected earnings from Dell and HP weighed on Asian tech hardware makers, though HP's strength in printers provided a bright spot for Japanese peers. Overall, regional sentiment remains cautious amid lingering macro uncertainties.