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Regional Equities Mixed After US Jobs Data

EQUITIES

Regional Asia equities are mostly lower today, with Japan the exception. Markets lower on the back of stronger than expected US jobs Data on Friday, while Powell's interview on 60 minutes earlier this morning hasn't helped with rate cut expectations being further pushed back.

  • Japan equities are higher this morning outside of any real catalyst, the USDJPY is making new yearly highs, which could be helping exporters. Currently the Nikkei is higher by 0.50% while the Topix is 0.76%
  • Australia equities are lower this morning after the strong US Jobs data Friday and Powell's interview on 60 minutes earlier implying a rate cut wont be coming until later in the year. The RBA is out tomorrow with their interest rate announcement, expected to be left unchanged at 4.35%. Currently the ASX200 is lower by 1%
  • South Korea equities are lower to start the week, after a great start to the month last week. Government initiatives to close the "Korea Discount" were announced, with the KOSPI seeing $2.2b of inflows this month, we are giving some of those gains this morning with the Kospi lower by 1.20% largely on the back of real money accounts taking profits.
  • Taiwan, has so far escaped the sell off in Asia and is trading largely unchanged for the day, CPI out tomorrow estimated to come in at 2.10%
  • Elsewhere in SEA, Higher US yields are weighing on performance with markets largely down.

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