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Regional Asian Equities Mixed, Japan FinMin Warns FX Markets

ASIA STOCKS

Regional Asian equities are mixed today, with little in the way of major regional news or eco data out today, investors have turned their focus to US data due out later in the week. Earlier Japanese Finance Minister spoke about the moves in the FX markets, which followed the countries Chief currency official delivering his strongest warning in months around the weakening currency.

  • Japan's equities are mixed today, Japanese FinMin's spoke earlier warning the FX market, he mentioned they wouldn't rule out any options against excessive FX moves. Exporters are the worst performing sector, on the back of expected higher yen. Earlier PPI services was released coming in line with expectations at 2.1%. The Topix is up 0.04%, while the Nikkei 225 is under-performing slightly down 0.19%
  • South Korean equities have surged higher today led higher by tech names. There is currently a cabinet meeting happening with the finance ministry releasing the 2025 budget proposal. Earlier SK released consumer confidence data showing a fall from 101.9 in Feb to 100.7 in March. the Kospi is 1.30% higher.
  • Taiwanese equities have opened the day higher, although off intraday highs to trade 0.30%. Tech names are the top performing sector. On Monday Taiwan had industrial Production, missing estimates and falling to -1.10% vs 0.01% expected and well down on the month prior of a revised 15.61%
  • Australian equities face the greatest risk of a pullback according to Chris Montagu, Citigroup’s quantitative market strategist, who notes the market's one-sided positioning and extended levels, particularly due to its leverage to China through resources. The ASX 200 is slightly lower today down 0.14% as strength in Metals and Mining names are offset by weakness in Financials, Healthcare and Real Estate names.
  • Elsewhere in SEA, NZ equities are down 0.16% with RBNZ Gov Conway speaking a bit later, Indonesian equities are lower by 0.20% Tuesday they broke a 6-day streak of foreign investor equity inflows, Singapore equities are up 0.66% after Mondays CPI data showed a slight beat coming in at 3.4% vs 3.2%, while we await Industrial Production due out shortly.

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