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Tech Stocks Drag Market Lower Ahead of Nvidia Earnings

EQUITIES
Regional Asian Equities are mostly lower today, following the led from the US on Tuesday. Iron Ore prices are lower pulling Asian mining names down amid concerns about the outlook for demand in China weighs on prices.
  • Japan equities are lower today as tech stocks have lead the decline after US Chip giant Nvidia traded lower ahead of earnings release on Thursday, the semiconductor Index slipped 1.6% during the US session on Tuesday. Softbank down 2.30% has contributed to most of the decline in the Topix which is off 0.33%, while the Nikkei 225 trades 0.28% lower.
  • Taiwan equities are lower today, also being weighed down by losses in the US on Tuesday in tech names, especially semiconductor stocks. TMSC down 0.9% has contributed the most the fall in the Taiex which is down 0.27%
  • South Korean equities are also lower today as tech names pull the market down, foreign equity outflows have also increased today, with -87.6m in outflows occurring this morning. The kospi currently trades 0.30% lower.
  • Australian equities are lower, as the price of iron ore declines on the back of China outlook demand. Australian miners are contributing to the bulk of the weakness, while consumer names are also lower, as the CEO of Woolworths resigned.
  • Elsewhere in SEA, equities are largely unchanged to slightly lower.
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