Equities Mostly Lower, SK Exception as Zuckerberg To Meet Samsung

Regional Asian Equities are mostly lower today, with South Korea the exception as it was announced Zuckerberg will visit Seoul to discusses AI with Samsung. Elsewhere investors have been looking to book in profit ahead of a busy few days for US data, and recent rallies in Asia equities leaving the BBG APAC Index down 0.32%.

• Japan equities are off lows from earlier to trade mixed, banks are weighing on the index today after yesterday pushing higher on the back of 2y JGBs hit their highest levels since 2011, the Topix Bank index is down 0.40%. Earlier Bank of Japan Executive Director Seiichi Shimizu says there hasn’t yet been enough certainty that the bank’s stable inflation goal will be achieved, and that the Bank will consider adjusting it's monetary easing once the price goal is in sight. Currently the Topix is flat, while the Nikkei 225 trades 0.20% lower.
• South Korean equities are higher today, after news broke that Mark Zuckerberg will visit Seoul to discuss AI technology with Samsung. The "Korea Discount" is nearing yearly lows again after recent policy announcements underwhelmed the market, while foreign equity inflows also continue to slow with the 5-day average is now at $40m, while the 20-day sits at $286m
• Taiwan Equities have followed wider markets lower today, the Philadelphia semiconductor index closed 0.20% lower on Tuesday which hasn't helped. Equity flows were negative on Tuesday and continue to slow, although still in positive territory on a rolling average as the 5-day average is now at $132m while the 20-day sits at $331m, currently the Taiex is 0.50% lower.
• Australian equities are closed flat today, after weakness in Financials and materials sectors outweighed gains in tech, energy and real estate. Earlier Australia had construction work done data out coming in just above expectations at 0.7% vs 0.6%, while CPI came in below expectations at 3.4% vs 3.6%,
• Elsewhere in SEA, NZ equities higher after the RBNZ kept rates on hold, up 0.60%, Indonesia recorded a fourth day of foreign equity outflows, although their equity is up 0.36% today, while Singapore & Malaysia equities are 0.30-0.50% lower.