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EQUITIES: Asian Equities Mixed Today, China Underperforms Ahead Of Key Meetings

EQUITIES
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Asian equity are trading mixed today with Chinese stocks underperforming due to growing caution ahead of a key weekend briefing that could unveil fiscal stimulus measures. The CSI 300 Index is -1.90%, reversing Thursday's gains. In contrast, Japan and South Korea saw share price increases, sidestepping losses from Wall Street following stronger-than-expected U.S. core inflation data.

  • All eyes are on China's weekend briefing, where up to 2t yuan in stimulus may be announced to support the economy. Hong Kong markets were closed for a holiday.
  • US equity futures edge slightly higher with Nasdaq 100 (+0.16%) outperforming S&P 500 (+0.05%). Elon musk presented at Tesla's Robotaxi event, where he has unveiled a "Cybercab" & "Robovan" which looks to have gained positive reactions.
  • Earlier, BOK cut interest rates, signaling the start of a gradual easing cycle to support South Korea's economy, which has been impacted by sluggish domestic demand and export reliance. Despite inflation stabilizing below 2%, BOK remains cautious about future risks, including household debt and geopolitical developments. Foreign investors continue the trend of selling Korean equities with a net outflow of $230m so far today. The Kospi is trading +0.20% with its largest weighting Samsung (+1.20%) contributing the most to the gains today although is only trading just above key support of 59,000 after yesterday making new yearly lows, while the small-cap focused KOSDAQ is trading 0.10% lower
  • Taiwan's Taiex is +1.40% with TSMC +2.45% & Hon Hai +0.25% contributing most to the gains. There has been little in the way of headlines out of the region, local equities are benefitting from the move higher in Nvidia overnight.
  • Japan equities continue to benefit from the weaker yen, after it slid to 149.60 on Thursday while strong results from Fast Retailing (Uniqlo) have helped support the market and the outperformance in the Nikkei (+0.70%) vs Topix which trades flat.
  • Australia's ASX200 has closed the session little changed today with Miners down following a drop in commodity prices. New Zealand equities closed 0.70% higher after Infratil (Owners of Wellington Airport) jumped 1.60% following the announcement that the Wellington city council wont sell its 34% stake in the airport.
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Asian equity are trading mixed today with Chinese stocks underperforming due to growing caution ahead of a key weekend briefing that could unveil fiscal stimulus measures. The CSI 300 Index is -1.90%, reversing Thursday's gains. In contrast, Japan and South Korea saw share price increases, sidestepping losses from Wall Street following stronger-than-expected U.S. core inflation data.

  • All eyes are on China's weekend briefing, where up to 2t yuan in stimulus may be announced to support the economy. Hong Kong markets were closed for a holiday.
  • US equity futures edge slightly higher with Nasdaq 100 (+0.16%) outperforming S&P 500 (+0.05%). Elon musk presented at Tesla's Robotaxi event, where he has unveiled a "Cybercab" & "Robovan" which looks to have gained positive reactions.
  • Earlier, BOK cut interest rates, signaling the start of a gradual easing cycle to support South Korea's economy, which has been impacted by sluggish domestic demand and export reliance. Despite inflation stabilizing below 2%, BOK remains cautious about future risks, including household debt and geopolitical developments. Foreign investors continue the trend of selling Korean equities with a net outflow of $230m so far today. The Kospi is trading +0.20% with its largest weighting Samsung (+1.20%) contributing the most to the gains today although is only trading just above key support of 59,000 after yesterday making new yearly lows, while the small-cap focused KOSDAQ is trading 0.10% lower
  • Taiwan's Taiex is +1.40% with TSMC +2.45% & Hon Hai +0.25% contributing most to the gains. There has been little in the way of headlines out of the region, local equities are benefitting from the move higher in Nvidia overnight.
  • Japan equities continue to benefit from the weaker yen, after it slid to 149.60 on Thursday while strong results from Fast Retailing (Uniqlo) have helped support the market and the outperformance in the Nikkei (+0.70%) vs Topix which trades flat.
  • Australia's ASX200 has closed the session little changed today with Miners down following a drop in commodity prices. New Zealand equities closed 0.70% higher after Infratil (Owners of Wellington Airport) jumped 1.60% following the announcement that the Wellington city council wont sell its 34% stake in the airport.