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Lower In Asia Amidst Broad Risk Aversion

EQUITIES

Major Asia Pac equity indices are mostly lower at typing, tracking a negative lead from Wall St. The MSCI Asia Pacific on track for second straight lower close, with broader risk appetite during the Asian session sapped by fresh worry re: recessionary risks. A note that Hong Kong markets are closed for a holiday today.

  • The Taiwanese Taiex leads the way lower, dealing 2.7% weaker, operating around session lows at typing. Index heavyweight TSMC (-3.8%, >25% weightage on the index) leads the way lower, with broader weakness in microchip-related sectors across the region observed after the release of Micron Technology’s lowered forecasts on Thursday.
  • The CSI300 deals 0.3% worse off at typing, sitting a little below four-month highs made on Thursday. Shallow gains in the utilities and materials sectors were countered by weakness in the virtually every other sector, with risk sentiment sapped by broader worry during the session re: economic slowdown fears and potentially over concerns re: the health of the country’s bad debt managers (specifically on news of China Great Wall Asset management missing a second deadline to publish its ‘21 annual report).
  • The ASX200 narrowly bucked the broader trend of losses, dealing 0.2% firmer at typing. Tech leads the bid, countering weakness in materials and energy-related names, with the S&P/ASX All Technology Index sitting 0.8% better off at typing.
  • U.S. e-mini equity index futures sit 1.0% to 1.2% worse off at writing, on track to end the week sharply lower.
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Major Asia Pac equity indices are mostly lower at typing, tracking a negative lead from Wall St. The MSCI Asia Pacific on track for second straight lower close, with broader risk appetite during the Asian session sapped by fresh worry re: recessionary risks. A note that Hong Kong markets are closed for a holiday today.

  • The Taiwanese Taiex leads the way lower, dealing 2.7% weaker, operating around session lows at typing. Index heavyweight TSMC (-3.8%, >25% weightage on the index) leads the way lower, with broader weakness in microchip-related sectors across the region observed after the release of Micron Technology’s lowered forecasts on Thursday.
  • The CSI300 deals 0.3% worse off at typing, sitting a little below four-month highs made on Thursday. Shallow gains in the utilities and materials sectors were countered by weakness in the virtually every other sector, with risk sentiment sapped by broader worry during the session re: economic slowdown fears and potentially over concerns re: the health of the country’s bad debt managers (specifically on news of China Great Wall Asset management missing a second deadline to publish its ‘21 annual report).
  • The ASX200 narrowly bucked the broader trend of losses, dealing 0.2% firmer at typing. Tech leads the bid, countering weakness in materials and energy-related names, with the S&P/ASX All Technology Index sitting 0.8% better off at typing.
  • U.S. e-mini equity index futures sit 1.0% to 1.2% worse off at writing, on track to end the week sharply lower.