ASIA-PAC EQUITIES UPDATE: APAC mostly higher, China choppy, and Western future subdued

Analysis details (02:56)

US stocks were bid across the board although small caps underperformed somewhat ahead of a plethora of earnings this week in the busiest week of the Q3 season, with mega-caps Apple, Amazon, Alphabet, Meta and Microsoft among those set to report. US and European equity futures resumed trade with mild losses and maintained a modest downside bias throughout the APAC session so far, with the ES briefly dipping under 3,800 at one point. ASX 200 (+0.3%) holds onto gains as the clock ticks down for the unveiling of the Australian Federal Budget, with gains in the index led by financials, telecoms and healthcare whilst the commodities sector lags Nikkei 225 (+0.8%) remains above the 27,000 mark as its manufacturing stocks keep the index buoyed.  KOSPI (+0.3%) sees gains across the chip sector but gains are capped as South Korean President Yoon said North Korea has completed preparations for a seventh nuclear test, whilst South Korean consumer inflation expectations also ticked up from the prior month. Hang Seng (Unch) and Shanghai Comp (-0.1%) are volatile in early trade with the former swinging between gains and losses having fallen over a percent at one point under the 15,000 mark.

25 Oct 2022 - 02:55- Research Sheet- Source: Newsquawk