Free Trial
OIL

Saudi/Russia Praises OPEC+ Framework

US TSY FUTURES

5yr Block trade

SOUTH AFRICA

RBC Like Short ZAR vs. MXN, BRL

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Mostly Lower In Asia; Chinese Developers Resume Slide

EQUITIES

Most major Asia-Pac equity indices are lower at typing on the back of a negative lead from Wall St., with Japanese stocks narrowly bucking the broader trend of losses.

  • The Hang Seng brings up the rear amongst peers, dealing 1.6% softer at typing, seeing the property sub-index (-2.6%) lead the way lower after an announced ~$361mn share placement by Chinese developer Country Garden Holdings (-14.0%) raised worry re: wider liquidity worries in the sector. Large-cap Alibaba Group (-3.8%) was among the Hang Seng’s worst performers, erasing the bulk of its 4.8% move higher on Tuesday, with the HSTECH (-1.7%) underperforming as well.
  • The Nikkei 225 trades 0.1% higher at typing, with the broader TOPIX index sitting a shade above neutral levels. Semiconductor and pharmaceuticals lead gains in the index, offsetting weakness in energy and retailers (with large-cap Fast Retailing sitting 1.3% weaker at typing).
  • The ASX200 has pared its pre-CPI decline of as much as 0.4% to sit a shade below neutral levels at writing, with the financials sub-index (+0.6%) hitting seven-week highs after reversing earlier losses, contributing to outperformance in the healthcare (+1.3%) and consumer staples (+0.6%) sub-indices. Tech-related equities struggled, with the S&P/ASX All Tech Index trading 0.7% lower, tracking some of the weakness in U.S. tech stocks on Tuesday.
  • E-minis deal 0.3% to 1.4% firmer apiece, off best levels, but holding on to the bulk of its gains observed after Google and Microsoft’s earnings beat after the bell on Tuesday.
239 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Most major Asia-Pac equity indices are lower at typing on the back of a negative lead from Wall St., with Japanese stocks narrowly bucking the broader trend of losses.

  • The Hang Seng brings up the rear amongst peers, dealing 1.6% softer at typing, seeing the property sub-index (-2.6%) lead the way lower after an announced ~$361mn share placement by Chinese developer Country Garden Holdings (-14.0%) raised worry re: wider liquidity worries in the sector. Large-cap Alibaba Group (-3.8%) was among the Hang Seng’s worst performers, erasing the bulk of its 4.8% move higher on Tuesday, with the HSTECH (-1.7%) underperforming as well.
  • The Nikkei 225 trades 0.1% higher at typing, with the broader TOPIX index sitting a shade above neutral levels. Semiconductor and pharmaceuticals lead gains in the index, offsetting weakness in energy and retailers (with large-cap Fast Retailing sitting 1.3% weaker at typing).
  • The ASX200 has pared its pre-CPI decline of as much as 0.4% to sit a shade below neutral levels at writing, with the financials sub-index (+0.6%) hitting seven-week highs after reversing earlier losses, contributing to outperformance in the healthcare (+1.3%) and consumer staples (+0.6%) sub-indices. Tech-related equities struggled, with the S&P/ASX All Tech Index trading 0.7% lower, tracking some of the weakness in U.S. tech stocks on Tuesday.
  • E-minis deal 0.3% to 1.4% firmer apiece, off best levels, but holding on to the bulk of its gains observed after Google and Microsoft’s earnings beat after the bell on Tuesday.