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Equities Higher Follow US Markets, Yen Drops Supporting Exporters

ASIA STOCKS
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Asia markets are higher today, after US equities surged on Friday on amid growing bets that the Fed will cut interest rates soon, with the market fully pricing in a cut for September while investors also looked to pick up some heavily sold tech stocks ahead of earnings from Apple, Amazon & Microsoft this week. The Yen has weakened this morning, driving Japanese equities higher, Taiwan equities have seen heavy selling recently with selling reaching two-year highs, while Indian equities have reach new highs after Bank stocks rallied.

  • Japanese markets saw significant gains on Monday, with the Nikkei 225 rising 2.55% and the Topix Index up 2.26%, driven by positive momentum from US markets and a weaker yen. The yen's depreciation boosted exporters like Tokyo Electron and Toyota Motor, lifting the broader market. Investors are also anticipating the BoJ policy meeting, where changes to bond purchases and potential rate hikes are expected, adding to the market's optimism.
  • South Korean markets have experienced a strong performance this morning, with the Kospi up 1.2%. This rise was driven by a rebound in US stocks and expectations of improved shareholder returns from local bank stocks. The Kospi Finance Index jumped almost 5% to its highest level since May 2021, although we now trade just 2.10% higher, following a tax break proposal from the finance ministry. The small-cap Kosdaq is up 1.20%.
  • Taiwan equity markets have jumped 1% on the open, but have since struggled to hold onto the gains and now trades just 0.30% higher. Recently we have seen heavy selling by Foreign Investors as they look to trim position in global semiconductor and tech stocks, with the likes of TSMC down over 12% from its July peak.
  • Australian equities are also higher today, with all sectors in the green. Tech stocks the top performers although Financials & Materials are contributing the most to index gains. Focus will turn to Wednesday when we have Retail Sales and CPI, currently the ASX200 is trading 0.80% higher. The New Zealand market is a touch lower today after Healthcare stocks fell, the NZX 50 and down 0.15%.
  • In EM Asia markets are higher today with Malaysia's KLCI higher 0.75%, Singapore's Strait Times is 0.75% higher, Indonesia's JCI is 0.25% higher, Philippine's PSEi is 0.45% higher and Indian's Nifty 50 is 0.20% higher.
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Asia markets are higher today, after US equities surged on Friday on amid growing bets that the Fed will cut interest rates soon, with the market fully pricing in a cut for September while investors also looked to pick up some heavily sold tech stocks ahead of earnings from Apple, Amazon & Microsoft this week. The Yen has weakened this morning, driving Japanese equities higher, Taiwan equities have seen heavy selling recently with selling reaching two-year highs, while Indian equities have reach new highs after Bank stocks rallied.

  • Japanese markets saw significant gains on Monday, with the Nikkei 225 rising 2.55% and the Topix Index up 2.26%, driven by positive momentum from US markets and a weaker yen. The yen's depreciation boosted exporters like Tokyo Electron and Toyota Motor, lifting the broader market. Investors are also anticipating the BoJ policy meeting, where changes to bond purchases and potential rate hikes are expected, adding to the market's optimism.
  • South Korean markets have experienced a strong performance this morning, with the Kospi up 1.2%. This rise was driven by a rebound in US stocks and expectations of improved shareholder returns from local bank stocks. The Kospi Finance Index jumped almost 5% to its highest level since May 2021, although we now trade just 2.10% higher, following a tax break proposal from the finance ministry. The small-cap Kosdaq is up 1.20%.
  • Taiwan equity markets have jumped 1% on the open, but have since struggled to hold onto the gains and now trades just 0.30% higher. Recently we have seen heavy selling by Foreign Investors as they look to trim position in global semiconductor and tech stocks, with the likes of TSMC down over 12% from its July peak.
  • Australian equities are also higher today, with all sectors in the green. Tech stocks the top performers although Financials & Materials are contributing the most to index gains. Focus will turn to Wednesday when we have Retail Sales and CPI, currently the ASX200 is trading 0.80% higher. The New Zealand market is a touch lower today after Healthcare stocks fell, the NZX 50 and down 0.15%.
  • In EM Asia markets are higher today with Malaysia's KLCI higher 0.75%, Singapore's Strait Times is 0.75% higher, Indonesia's JCI is 0.25% higher, Philippine's PSEi is 0.45% higher and Indian's Nifty 50 is 0.20% higher.