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Equities Lower, French Political Uncertainty Weighs On Sentiment

ASIA STOCKS
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Asian markets are lower today, reflecting investor anxiety over France’s political crisis and anticipation of upcoming central bank policy decisions. Japanese stocks led the declines, while Hong Kong shares rebounded due to positive Chinese retail spending data. Benchmark 10-year Treasuries slipped and US equity futures were little changed. Markets including Singapore, India, and Indonesia were closed for holidays.

  • Japanese stocks opened lower as investor sentiment soured due to political uncertainties in France. The Topix index continued to decline, particularly weighed down by transportation and real estate sectors, with the broader market affected by concerns over potential government interventions in the yen market. The Topix is down 1.49%, Topix Bank Index is 0.95% lower, while the Nikkei 225 is 1.82%.
  • South Korean equities extended losses, with the Kospi down 0.37%. The decline was driven by concerns over a possible delay in US Federal Reserve interest rate cuts. Large-cap stocks were mixed, with notable declines in Samsung Electronics and LG Energy Solution, while Hyundai Motor and Kia Corp. surged on news of Hyundai's IPO plans in India.
  • Taiwan equities are little changed today, semiconductor names are the top performers. There has been little in the way of headlines out of the region today and with very little in the way of data this week, suspect the market to largely track global peers.
  • Australian shares opened lower, influenced by global market concerns and awaiting the Reserve Bank of Australia's policy meeting outcome. The S&P/ASX 200 index fell 0.15%, with losses in Metals and Mining, Industrials & Real Estate offsetting gains in Financials
  • Elsewhere, New Zealand equities are down 1.33% while Thailand equities are down 0.75%.
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Asian markets are lower today, reflecting investor anxiety over France’s political crisis and anticipation of upcoming central bank policy decisions. Japanese stocks led the declines, while Hong Kong shares rebounded due to positive Chinese retail spending data. Benchmark 10-year Treasuries slipped and US equity futures were little changed. Markets including Singapore, India, and Indonesia were closed for holidays.

  • Japanese stocks opened lower as investor sentiment soured due to political uncertainties in France. The Topix index continued to decline, particularly weighed down by transportation and real estate sectors, with the broader market affected by concerns over potential government interventions in the yen market. The Topix is down 1.49%, Topix Bank Index is 0.95% lower, while the Nikkei 225 is 1.82%.
  • South Korean equities extended losses, with the Kospi down 0.37%. The decline was driven by concerns over a possible delay in US Federal Reserve interest rate cuts. Large-cap stocks were mixed, with notable declines in Samsung Electronics and LG Energy Solution, while Hyundai Motor and Kia Corp. surged on news of Hyundai's IPO plans in India.
  • Taiwan equities are little changed today, semiconductor names are the top performers. There has been little in the way of headlines out of the region today and with very little in the way of data this week, suspect the market to largely track global peers.
  • Australian shares opened lower, influenced by global market concerns and awaiting the Reserve Bank of Australia's policy meeting outcome. The S&P/ASX 200 index fell 0.15%, with losses in Metals and Mining, Industrials & Real Estate offsetting gains in Financials
  • Elsewhere, New Zealand equities are down 1.33% while Thailand equities are down 0.75%.