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EQUITIES: Equities Higher, Semiconductor Stocks Jump, Nikkei Tests 40,000

EQUITIES
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Asian equities are mostly higher today, led by gains in Japanese stocks with the Nikkei briefly breaking back above 40,000. The moves follow a surge in US equities overnight with the Nasdaq climbing 1.9% after Amazon & Meta hit new highs, while Broadcom jumped 6.5% after a report that the chipmaker was working with Apple on an AI deal. Locally, focus was on Australia's Employment numbers which showed a strong beat in Full time employment, with the unemployment rate falling to 3.9%, further hurting chances of a rate cut any time soon.

  • South Korea President spoke earlier where he said he would fight to defend himself and accused the opposition of trying to paralyze parliament. There has been volatility in the local equity market today following consistent headlines out, surrounding the president, however we now trade toward session highs now, with the KOSPI  +0.90%, while the KOSDAQ is 0.50% higher.
  • Japanese equities are benefitting from report that the BOJ is in no hurry to raise interest rates. The Nikkei briefly trading back above 40,000, we sit just below these levels now, although still trades up 1.30% for the session, while the TOPIX is 1% higher. Semiconductor stocks are the top performing sector today, although Tokyo Electron is off earlier highs, up just 0.60% the slight weakness could be on the back of headlines that the US plans to cap countries semiconductor access, although Advantest is trading up 4.85% near session best levels.
  • Taiwan's Taiex is trading 0.90% higher today, with TSMC jumping 2.40%.
  • Australian equities are slightly lower today following stronger-than-expected employment data. RBA-dated OIS cooled following the data, with the market now pricing in the first full cut in May. The ASX200 is trading 0.30% lower, with Industrials & Real Estate stocks the worst performing. The NZX50 is 0.55% lower after Fisher & Paykel fell 2.50%.

 

 

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Asian equities are mostly higher today, led by gains in Japanese stocks with the Nikkei briefly breaking back above 40,000. The moves follow a surge in US equities overnight with the Nasdaq climbing 1.9% after Amazon & Meta hit new highs, while Broadcom jumped 6.5% after a report that the chipmaker was working with Apple on an AI deal. Locally, focus was on Australia's Employment numbers which showed a strong beat in Full time employment, with the unemployment rate falling to 3.9%, further hurting chances of a rate cut any time soon.

  • South Korea President spoke earlier where he said he would fight to defend himself and accused the opposition of trying to paralyze parliament. There has been volatility in the local equity market today following consistent headlines out, surrounding the president, however we now trade toward session highs now, with the KOSPI  +0.90%, while the KOSDAQ is 0.50% higher.
  • Japanese equities are benefitting from report that the BOJ is in no hurry to raise interest rates. The Nikkei briefly trading back above 40,000, we sit just below these levels now, although still trades up 1.30% for the session, while the TOPIX is 1% higher. Semiconductor stocks are the top performing sector today, although Tokyo Electron is off earlier highs, up just 0.60% the slight weakness could be on the back of headlines that the US plans to cap countries semiconductor access, although Advantest is trading up 4.85% near session best levels.
  • Taiwan's Taiex is trading 0.90% higher today, with TSMC jumping 2.40%.
  • Australian equities are slightly lower today following stronger-than-expected employment data. RBA-dated OIS cooled following the data, with the market now pricing in the first full cut in May. The ASX200 is trading 0.30% lower, with Industrials & Real Estate stocks the worst performing. The NZX50 is 0.55% lower after Fisher & Paykel fell 2.50%.