ASIA-PAC EQUITIES UPDATE: Asia-Pac stocks are ultimately varied following the mixed signals on trade from the US

APAC Stocks: Mixed/Mostly Positive

• Asia-Pac stocks are ultimately mixed but with most indices in the green following the positive handover from Wall St where sentiment was underpinned amid tariff cut hopes and as concerns regarding central bank independence abated, while risk appetite slightly waned overnight as trade uncertainty lingered owing to the mixed signals from the US.

ASX 200: +0.6%

• Gained with advances led by outperformance in mining stocks and tech, with gold producers buoyed by a rebound in the precious metal.

Nikkei 225: +0.9%

• Advanced at the open but has since pared some of the gains following firmer Services PPI data from Japan and after a report that the US told Japan it cannot give it special treatment regarding tariffs during talks held earlier this month.

Hang Seng & Shanghai Comp: Hang Seng -0.9% / Shanghai Comp +0.1%

• Chinese markets are varied following the mixed signals from the US where it was reported that the White House was mulling cutting China tariffs by around half to de-escalate the trade war although some officials have declared they are not considering something unilaterally. Furthermore, President Trump stated it depends on China how soon tariffs can come down and if they don't have a deal, they will set the tariff but suggested they are having daily talks with China.

US Equity Futures: Lower

• US equity futures marginally eased back overnight after the prior day's relief rally petered out owing to the conflicting signals from the US on tariffs.

European Equity Futures -0.1%

• Indicate a slightly lower cash market open with Euro Stoxx 50 futures down 0.1% after the cash market closed with gains of 2.8% on Wednesday.

24 Apr 2025 - 04:10- ForexAsian Research- Source: Newsquawk