Regional Asian Equities Follow Global Markets Higher, AU CPI Beat

Regional Asian equities are higher today, following the US equity market higher after a second straight day of good corporate earnings. Tech is the top performing sector as stronger earnings from companies like Texas instruments while the Semiconductor index finished the session up over 2%. Earlier South Korean Consumer Confidence was inline with the previous month, New Zealand Trade Deficit continued to Improve and Japan's PPI Services beat estimates, while Australia's CPI beat estimates, the calendar is light on until BI rate decision later where they are expected to hold rates at 6%

• Japanese equities are higher today with tech names leading the way, the Nikkei 225 is up about 2% and is testing the 20 & 50-day EMA at 38,500/38,600, while the Topix is up 1.30%. Investor's are waiting for BoJ's bond-purchase operations later in the day amid lingering uncertainties over its guidance on the buying amount, which will be released at a monetary policy meeting this week. The yen is unchanged however just off the psychological 155.00, the former vice minister of finance for international affairs said the BoJ is on the brink of intervention if it weakens any further. Earlier Japan PPI Services were 2.3% y/y vs 2.1% y/y expected.
• South Korean equities are higher, with tech stocks leading the way. Telsa has helped pushed markets higher post the US close even though it missed earnings estimates after it said it would accelerate the launch of more afforded models. Earlier South Korean Consumer Confidence was unchanged at 100.7, while household inflation expectations for the next 12-months fell to 3.1% in April from 3.2% in March. the Kospi is up 1.75% breaking back above both the 20 & 50 Day EMAs, the 14-day RSI indictor has also just ticked back above 50, while the MACD is showing a decrease in red bars signaling buyers are back in control.
• Taiwan equities have followed global semiconductor prices higher, after the Philadelphia semiconductor Index closed up 2.2%. Foreign Investors purchased local equities for the first time since Apr 10th, helping boost the TWD after the currency slipped to the lowest levels since 2015. The Taiex is up 2% and now trading just below the 20-day EMA at 20,000.
• Australian equities have pared earlier gains and now trade just 0.05% after stronger than-expected CPI data showed an increase to 3.5% y/y from 3.4% y/y. The materials and industrials sectors are the worst performing, offsetting gains in Financials.
• Elsewhere in SEA, New Zealand Equities are up 0.50% after posting a trade surplus, Singapore equities are 0.75% higher, after CPI dropped to 2.7% in March from 3.4% April, Malaysian equities up 0.48% and Philippines equities are up 1.10%.