FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EQUITIES: Asian Equities Mixed, Trading Ranges Tight, China Awaits MOF Outcome

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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 fell as much as 1.6%, 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.
  • 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 (+1.50%) contributing the most to the gains today although is only trading just above key support of 59,000 after yesterday making new yearly lows.
  • Taiwan's Taiex is +1.16% with TSMC +2% & Hon Hai +1.25% 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 (+55%) vs Topix (+0.20%) today.
  • Australia's ASX200 is 0.15% lower with Miners down following a drop in commodity prices. New Zealand equities are 0.25% higher with Infratil (Owners of Wellington Airport) jumping 1.60% following the announcement that the Wellington city council won sell its 34% stake in the airport.
305 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

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 fell as much as 1.6%, 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.
  • 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 (+1.50%) contributing the most to the gains today although is only trading just above key support of 59,000 after yesterday making new yearly lows.
  • Taiwan's Taiex is +1.16% with TSMC +2% & Hon Hai +1.25% 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 (+55%) vs Topix (+0.20%) today.
  • Australia's ASX200 is 0.15% lower with Miners down following a drop in commodity prices. New Zealand equities are 0.25% higher with Infratil (Owners of Wellington Airport) jumping 1.60% following the announcement that the Wellington city council won sell its 34% stake in the airport.