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Regional Equities Mixed After US Jobs & Powell Interview

EQUITIES
Regional Asia equities are mixed today, with Japan the outperformer. Higher than expected US Jobs data on Friday has been weighing on markets, while Fed President Powell's comments on 60 minutes this morning implied a rate cut won’t be coming until later in the year.
  • Japan equities are higher this morning outside of any real catalyst, the USDJPY is making new yearly highs, which could be helping exporters. BoJ has also offered to buy bonds in two fund-supplying operations to contain an increase in a key short-term interest rate (BBG). After Falling 35% in two days, on the back of losses sustained in their US commercial real estate portfolio, Aozoro Bank has found support, trading higher by 5.30% Currently the Nikkei is higher by 0.50% while the Topix is 0.55%
  • Australia equities are lower this morning after the strong US Jobs data Friday and Powell's interview on 60 minutes earlier this morning implying a rate cut won’t be coming until later in the year, while Australia also saw raft of data releases (PMIs, Inflation Gauge, Trade Balance, and Job Ads). 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 0.80% largely on the back of real money accounts taking profits.
  • Taiwan, has so far escaped the sell off in Asia and is trading higher by 0.21%. 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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