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Regional Asian Equities Mixed, Tech Stocks Weighing On Market

ASIA STOCKS

Asian markets are experiencing a mixed trading session today, influenced by a rotation into value stocks and the ongoing sell-off in US tech shares. The MSCI Asia Pacific Index is fluctuating as investors await key economic data and assess the impact of global economic trends on regional markets. While sectors like banking and energy are seeing gains, technology shares are under pressure, reflecting broader market uncertainties and investor sentiment.

  • Japanese stocks rose as investors rotated into value stocks that have underperformed in recent weeks, including banks and automakers. The Topix Index increased by 0.90%, with banks and automakers as the biggest contributors. Toyota Motor Corp. led the gains, rising 2.3%. The Nikkei 225 advanced by 0.22%, although chip-related shares like Disco and Renesas were among the worst performers, following a decline in US peers.
  • Korean shares opened higher on Tuesday as investors scooped up auto and chemical shares, despite a slump in technology shares on Wall Street. The benchmark KOSPI fell 0.24%. Car manufacturers like Hyundai Motors and Kia saw gains of 2.49% and 1.25%, respectively. Chemical shares also performed well, with LG Chem and SK Innovation rising. However, tech shares were bearish, with Samsung Electronics and SK hynix both falling. The local currency was trading at 1,384.7 won against the U.S. dollar, up 4.3 won from the previous session's close.
  • The Taiwan equities have opened lower, with the Taiex down 1.36%. The Philadelphia SE Semiconductor Index fell over 3% overnight which is weighing on local stocks.
  • Australian shares are higher this morning with ASX 200 up 0.70%. This comes despite a mixed performance on Wall Street, where Nvidia and other semiconductor stocks extended their sell-off. Gains in the financial, real estate, and utilities sectors in the US helped offset losses in tech. Earlier, the Westpac Consumer Confidence rose 1.7% m/m from -0.3% rising to 83.6 vs 82.2.
  • Elsewhere, New Zealand equities are 0.08% lower, Singapore equities are 0.22% higher, Malaysia are 0.05% lower, Philippines are 0.40% higher

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