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EQUITIES: Asian Equities Track US Markets Higher Led By Tech

EQUITIES
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Asian markets are higher today, driven by gains in the technology sector, following record highs on Wall Street. The MSCI Asia Pacific Index climbed 0.7%, led by contributions from major chipmakers like TSMC, Tokyo Electron & SoftBank Group. Japan’s Nikkei 225 reached its highest level since July, bolstered by optimism in its undervalued stocks, while Australian shares also hit a new record high.

  • China and Hong Kong stocks slipped as investors await more substantial stimulus measures. Concerns about the strength of China’s economic recovery were heightened by mixed export growth data, although we saw record exports in cars and ships for September, however overall export growth slowed to just 2.4% y/y adding to concerns about the broader economic recovery. China A shares continue to performing better than H shares with the CSI 300 is -0.50%, while the HSI is -1.35%.
  • Japanese stocks surged today, with the Nikkei 225 reaching its highest level since July, driven by gains in the technology and chip sectors. Optimism over the undervaluation of Japanese stocks helped lift sentiment, as key contributors like SoftBank Group and other major players in tech led the advance. Tokyo Metro’s successful IPO, which raised ¥348.6bi ($2.3b), also reflected robust demand, adding to market confidence. A weaker yen continues to provide support for exporters, although investors are closely watching for possible intervention as the yen hovers near the key 150 level against the dollar. The Nikkei +1.35%, while the Topix is  +1.05%.
  • South Korean semiconductor-related exports showed signs of slowing, which could be an early warning for the broader global chip market, with the country's economy remaining heavily linked to its strong memory-chip sector. The KOSPI is little changed today.
  • Taiwan's TAIEX is 1.45%, with TSMC +2.40% & Hon Hai +3.50% contributing most to the index gains.
  • The Australian share market hit a record high today, with the benchmark ASX200 climbing above 8,300 for the first time. The rise was led by strength in the financial and mining sectors, with major banks such as Westpac and CBA posting significant gains, alongside miners like BHP and Fortescue. However, the energy sector lagged behind as oil prices dropped to a 12-day low, weighed down by easing concerns over potential disruptions from Israel-Iran tensions. 
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Asian markets are higher today, driven by gains in the technology sector, following record highs on Wall Street. The MSCI Asia Pacific Index climbed 0.7%, led by contributions from major chipmakers like TSMC, Tokyo Electron & SoftBank Group. Japan’s Nikkei 225 reached its highest level since July, bolstered by optimism in its undervalued stocks, while Australian shares also hit a new record high.

  • China and Hong Kong stocks slipped as investors await more substantial stimulus measures. Concerns about the strength of China’s economic recovery were heightened by mixed export growth data, although we saw record exports in cars and ships for September, however overall export growth slowed to just 2.4% y/y adding to concerns about the broader economic recovery. China A shares continue to performing better than H shares with the CSI 300 is -0.50%, while the HSI is -1.35%.
  • Japanese stocks surged today, with the Nikkei 225 reaching its highest level since July, driven by gains in the technology and chip sectors. Optimism over the undervaluation of Japanese stocks helped lift sentiment, as key contributors like SoftBank Group and other major players in tech led the advance. Tokyo Metro’s successful IPO, which raised ¥348.6bi ($2.3b), also reflected robust demand, adding to market confidence. A weaker yen continues to provide support for exporters, although investors are closely watching for possible intervention as the yen hovers near the key 150 level against the dollar. The Nikkei +1.35%, while the Topix is  +1.05%.
  • South Korean semiconductor-related exports showed signs of slowing, which could be an early warning for the broader global chip market, with the country's economy remaining heavily linked to its strong memory-chip sector. The KOSPI is little changed today.
  • Taiwan's TAIEX is 1.45%, with TSMC +2.40% & Hon Hai +3.50% contributing most to the index gains.
  • The Australian share market hit a record high today, with the benchmark ASX200 climbing above 8,300 for the first time. The rise was led by strength in the financial and mining sectors, with major banks such as Westpac and CBA posting significant gains, alongside miners like BHP and Fortescue. However, the energy sector lagged behind as oil prices dropped to a 12-day low, weighed down by easing concerns over potential disruptions from Israel-Iran tensions.