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Equities Head Lower As Geopol Tensions Persist, EM Currencies Weaken

ASIA STOCKS
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Regional Asian equities have pulled back on Monday as worries about potentially escalating tensions in the Middle East rattled financial markets, pushing investors to look for safer places for their money. U.S. futures rose and oil prices fell despite tensions roiling the Middle East where an attack late Saturday marked the first time Iran had ever launched a military assault on Israel. Regional Asian FX is lower, with TWD & KRW near multi-year lows. The economic data calendar is light on today with just Japan Machine Orders which surged in Feb, while New Zealand has PSI data which dropped below 50, to 47.5 in Mar and net migration jumped to 7,630 in Feb from a revised 3,650 in Jan.

  • Japan equities equities are lower today tension in the middle east is seen as the major catalyst for the move. The yen has just broken the Friday lows and is now trading above 153.50, traders will be alert for yen intervention. Earlier Core Machine Orders were well above estimates coming in at 7.7% vs 0.8% expectation signifying a robust recovery and potential expansion in Japan's manufacturing and production sectors, positioning the country for further economic growth and development. The Topix is down 0.24%, while the Nikkei 225 is down 1.09%
  • South Korean equities dropped as much as 1.5% in early morning trading and hit the lowest since March 7, erasing its year-to-date gain amid increased geopolitical risks after Iran launched an attack on Israel. The KRW has gapped lower this morning, after weakening on Friday with the currency now down 2.56% over the past 5 days. The Kospi has recovered majority of the earlier losses to trade down just 0.45%.
  • Taiwan equities are lower today, there has been little in the way of local market headlines or economic data for the region with the next major data released not until Apr 22 when Unemployment and Export Orders are due out. Similar to the KRW, the TWD has weakened recently trading at 32.362 and now eyes multi year lows at 32.50. The Taiex has continued to trade off throughout the session and now down 1.02%
  • Australian equities are lower today following global markets lower as risk assets track lower. Mining stocks have bucked the trend as commodity prices rise. The ASX200 is down 0.42%
  • Elsewhere in SEA, New Zealand Equities are down 0.45%, Singapore equities are down 1.08%, Malaysian equities are 0.42% lower, while Philippines equities continue their drop down another 1.24% and now off 5.60% from recent highs made Apr 2nd.
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Regional Asian equities have pulled back on Monday as worries about potentially escalating tensions in the Middle East rattled financial markets, pushing investors to look for safer places for their money. U.S. futures rose and oil prices fell despite tensions roiling the Middle East where an attack late Saturday marked the first time Iran had ever launched a military assault on Israel. Regional Asian FX is lower, with TWD & KRW near multi-year lows. The economic data calendar is light on today with just Japan Machine Orders which surged in Feb, while New Zealand has PSI data which dropped below 50, to 47.5 in Mar and net migration jumped to 7,630 in Feb from a revised 3,650 in Jan.

  • Japan equities equities are lower today tension in the middle east is seen as the major catalyst for the move. The yen has just broken the Friday lows and is now trading above 153.50, traders will be alert for yen intervention. Earlier Core Machine Orders were well above estimates coming in at 7.7% vs 0.8% expectation signifying a robust recovery and potential expansion in Japan's manufacturing and production sectors, positioning the country for further economic growth and development. The Topix is down 0.24%, while the Nikkei 225 is down 1.09%
  • South Korean equities dropped as much as 1.5% in early morning trading and hit the lowest since March 7, erasing its year-to-date gain amid increased geopolitical risks after Iran launched an attack on Israel. The KRW has gapped lower this morning, after weakening on Friday with the currency now down 2.56% over the past 5 days. The Kospi has recovered majority of the earlier losses to trade down just 0.45%.
  • Taiwan equities are lower today, there has been little in the way of local market headlines or economic data for the region with the next major data released not until Apr 22 when Unemployment and Export Orders are due out. Similar to the KRW, the TWD has weakened recently trading at 32.362 and now eyes multi year lows at 32.50. The Taiex has continued to trade off throughout the session and now down 1.02%
  • Australian equities are lower today following global markets lower as risk assets track lower. Mining stocks have bucked the trend as commodity prices rise. The ASX200 is down 0.42%
  • Elsewhere in SEA, New Zealand Equities are down 0.45%, Singapore equities are down 1.08%, Malaysian equities are 0.42% lower, while Philippines equities continue their drop down another 1.24% and now off 5.60% from recent highs made Apr 2nd.