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Equity Edged Higher As Tech Stocks Rise On Lower Inflation Pressures

ASIA STOCKS
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Asia markets have tacked US equities higher on Monday, as an easing in US consumer inflation expectations bolstered the case for the Federal Reserve to cut rates this year. Tech stock are the top performing sector, with the MSCI Asia Pacific trading 0.60% higher. It has been a quiet session today with little in the way of headlines or economic data, while the UK and US will be out for public holidays.

  • Japanese equities have opened higher today, the yen is a touch stronger at 156.74 after initially trading above 157 as the BoJ Governor Ueda said the central bank will move cautiously to anchor inflation expectations at 2%. The BoJ-IMES conference is being held in Japan today with both Ueda and Uchida speaking, later today we have the Leading & Coincident Index. The Topix is up 0.35%, while the Nikkei is up 0.20%.
  • Taiwan equities opened higher today, however has given up some of those early gains. Semiconductor names are benefitting from a visit from Nvidia boss Jensen Huang, with TSMC leading the way again. The Taiex is up 1%
  • South Korean equities are higher today, there is little in the way of news out of the region today. Equity flows have started to slow, with just $152m of inflows over the past 5 sessions. The kospi is 0.49% higher today and bounced off the 50-day EMA on Friday, with the next target the 20-day EMA at 2,708.
  • Australian equities are higher today, there isn't much happening locally today with markets largely just tracking global markets. BHP has contributed the most to index gains today, while Lendlease is 9.8% higher after announcing they would be abandoning their global plans and list 4b of assets. The ASX200 is up 0.80%
  • Elsewhere in SEA, New Zealand equities are down 0.20%, Singapore equities are 0.15% higher, Malaysian equities are unchanged, Philippines equities are down 0.75% while Indonesia has returned from their break and trade down 0.15%
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Asia markets have tacked US equities higher on Monday, as an easing in US consumer inflation expectations bolstered the case for the Federal Reserve to cut rates this year. Tech stock are the top performing sector, with the MSCI Asia Pacific trading 0.60% higher. It has been a quiet session today with little in the way of headlines or economic data, while the UK and US will be out for public holidays.

  • Japanese equities have opened higher today, the yen is a touch stronger at 156.74 after initially trading above 157 as the BoJ Governor Ueda said the central bank will move cautiously to anchor inflation expectations at 2%. The BoJ-IMES conference is being held in Japan today with both Ueda and Uchida speaking, later today we have the Leading & Coincident Index. The Topix is up 0.35%, while the Nikkei is up 0.20%.
  • Taiwan equities opened higher today, however has given up some of those early gains. Semiconductor names are benefitting from a visit from Nvidia boss Jensen Huang, with TSMC leading the way again. The Taiex is up 1%
  • South Korean equities are higher today, there is little in the way of news out of the region today. Equity flows have started to slow, with just $152m of inflows over the past 5 sessions. The kospi is 0.49% higher today and bounced off the 50-day EMA on Friday, with the next target the 20-day EMA at 2,708.
  • Australian equities are higher today, there isn't much happening locally today with markets largely just tracking global markets. BHP has contributed the most to index gains today, while Lendlease is 9.8% higher after announcing they would be abandoning their global plans and list 4b of assets. The ASX200 is up 0.80%
  • Elsewhere in SEA, New Zealand equities are down 0.20%, Singapore equities are 0.15% higher, Malaysian equities are unchanged, Philippines equities are down 0.75% while Indonesia has returned from their break and trade down 0.15%