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Equity Markets Optimistic Into Year End, Except Japan

EQUITIES

APAC equity markets have followed the US higher again today with the MSCI APEX 50 up 1.1% to be 1.3% higher this month. The S&P e-mini is 0.1% higher and the Nasdaq +0.2% as expectations of Fed cuts rise. The only market to be down today is Japan, which is lower due to the speculation the BoJ will tighten, and the stronger yen weighing on automakers and tech firms. USDJPY is down 0.4% to 141.20.

  • The Nikkei is down 0.4% and the Topix -0.2%.
  • HK and China shares have rallied sharply with the Hang Seng up 1.5% and the CSI 300 +1.9% and property +2%. Tech has outperformed with the Hang Seng Tech index up 2.1%. China’s independent development plan has boosted aircraft-related stocks.
  • Korea’s KOSPI is up 1% and the KOSDAQ +0.6% while Taiwan’s TAIEX is flat.
  • Australia’s ASX 200 is 0.6% higher to be up 7.3% this month and the NZX 50 is up 0.8% and 3.9% in December.
  • India’s Nifty 50 is +0.2%.
  • ASEAN markets are all higher with Indonesia’s Jakarta Comp +0.6%, SE Thai +0.4%, Philippines PSEi +0.5% and Singapore’s Straits Times +1.6%.
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