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Equities Higher, Samsung's Strong Earnings, Busy Data Day

ASIA STOCKS
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Asian markets are higher today, it has been a busy session on the data front. Japan has returned from a break on Monday with indices up close to 2%, the yen stabilized following wild swings in the previous session with what looked to be intervention from the MoF on Monday, while earlier we Had Japan Job Data, Retail Sales & Industrial Production with Housing starts data to come. Elsewhere South Korean equities are higher, driven largely by strong earnings from Samsung Electronics, while earlier Industrial Production missed estimates by quiet some margin. Australia Retail Sales missed estimates, ACGB yields moved lower and New Zealand's Business confidence fell. Looking ahead we have Taiwan GDP and Thailand BoP Current Account Balance a bit later.

  • Japanese equities are higher today, playing a bit of catch up after being closed on Monday, focus has been largely on the Yen after yesterday briefly trading above 160, before what looks like MoF intervention saw the currency rally 3% at one stage to now trade at 156.82, although it should be noted we are now trading back at levels from Friday. Earlier this morning we had Jobless rate coming in at 2.6% vs 2.5% for March, but in line with Feb, and Job-To-Applicant Ratio of 1.28 vs 1.26, while Retail Sales showed a dropped from Feb 4.6% to 1.2% vs 2.4% est and finally Industrial Production picked up in March coming in at 3.8% vs 3.3% est. The Topix is up 1.81% and has broken back above the 20-day EMA, while the Nikkei 225 is up 1.07% and is testing both the 20 & 20-day EMAs.
  • South Korean equities are higher today, led by strong earnings results from Samsung Electronics after reporting a more than tenfold surge in its first-quarter operating profit compared to the previous year which marked the first time in five quarters that its chip business turned profitable. Earlier this morning, Industrial Production was 0.7% vs 4.6% y/y est, falling from 4.6% in Feb. The Kospi is 0.65% higher, now up 5.88% from recent lows and trading back above all major moving averages while the 14-day RSI have ticked back above 50.
  • Taiwan equities opened lower but have been able to edge slightly higher as the day progresses, later we have GDP data due out with consensus at 6% up from 4.93% last quarter. The Taiex is up 0.20%, and has been one of the top performers in the region since the Israel/Iran conflict up 6.45% with technical indicators showing buyers are well and truly in control.
  • Australian equities are slightly higher today, Gains in Miners have been offset by loses in Industrials and Energy names. The ASX200 is up 0.20% after recently bouncing off the 100-day EMA and now trades just below both the 20 & 50-day EMAs at about 7685.
  • Elsewhere in SEA, New Zealand Equities are up 0.2%, earlier 1Q Job ads fell 5.4% q/q and ANZ Business Confidence dropped to 14.9 from 22.9 in March. Indonesian Equities are up 1.20%, Singapore equities are up 0.38% ahead of Unemployment data later, while Malaysian equities are down 0.20%
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Asian markets are higher today, it has been a busy session on the data front. Japan has returned from a break on Monday with indices up close to 2%, the yen stabilized following wild swings in the previous session with what looked to be intervention from the MoF on Monday, while earlier we Had Japan Job Data, Retail Sales & Industrial Production with Housing starts data to come. Elsewhere South Korean equities are higher, driven largely by strong earnings from Samsung Electronics, while earlier Industrial Production missed estimates by quiet some margin. Australia Retail Sales missed estimates, ACGB yields moved lower and New Zealand's Business confidence fell. Looking ahead we have Taiwan GDP and Thailand BoP Current Account Balance a bit later.

  • Japanese equities are higher today, playing a bit of catch up after being closed on Monday, focus has been largely on the Yen after yesterday briefly trading above 160, before what looks like MoF intervention saw the currency rally 3% at one stage to now trade at 156.82, although it should be noted we are now trading back at levels from Friday. Earlier this morning we had Jobless rate coming in at 2.6% vs 2.5% for March, but in line with Feb, and Job-To-Applicant Ratio of 1.28 vs 1.26, while Retail Sales showed a dropped from Feb 4.6% to 1.2% vs 2.4% est and finally Industrial Production picked up in March coming in at 3.8% vs 3.3% est. The Topix is up 1.81% and has broken back above the 20-day EMA, while the Nikkei 225 is up 1.07% and is testing both the 20 & 20-day EMAs.
  • South Korean equities are higher today, led by strong earnings results from Samsung Electronics after reporting a more than tenfold surge in its first-quarter operating profit compared to the previous year which marked the first time in five quarters that its chip business turned profitable. Earlier this morning, Industrial Production was 0.7% vs 4.6% y/y est, falling from 4.6% in Feb. The Kospi is 0.65% higher, now up 5.88% from recent lows and trading back above all major moving averages while the 14-day RSI have ticked back above 50.
  • Taiwan equities opened lower but have been able to edge slightly higher as the day progresses, later we have GDP data due out with consensus at 6% up from 4.93% last quarter. The Taiex is up 0.20%, and has been one of the top performers in the region since the Israel/Iran conflict up 6.45% with technical indicators showing buyers are well and truly in control.
  • Australian equities are slightly higher today, Gains in Miners have been offset by loses in Industrials and Energy names. The ASX200 is up 0.20% after recently bouncing off the 100-day EMA and now trades just below both the 20 & 50-day EMAs at about 7685.
  • Elsewhere in SEA, New Zealand Equities are up 0.2%, earlier 1Q Job ads fell 5.4% q/q and ANZ Business Confidence dropped to 14.9 from 22.9 in March. Indonesian Equities are up 1.20%, Singapore equities are up 0.38% ahead of Unemployment data later, while Malaysian equities are down 0.20%