ASIA-PAC EQUITY UPDATE: APAC stocks trade mixed but China’s property sector soars on touted support

Analysis details (02:26)

APAC stocks portray a mixed picture as the region failed to garner much traction from the gains on Wall Street on Sunday, which occurred as the theme of "peaking inflation" remained - with the rate of change in the data conducive to a less aggressive Fed. That being said, Fed voter Waller downplayed the recent gains across US equities, suggesting that the CPI report is "just one data point and markets are "way out in front". Waller added that they will need to see a run of CPI reports to take the foot off the brake, while he’s looking at potentially hiking 50bps at the next meeting or after. US equity futures resumed trade with modest losses across the board but hold onto a lion’s share of last week’s gains. ASX 200 (-0.1%) gave up its initial upside with Industrials, Telecoms and Healthcare offsetting the gains from the Metals, Mining, and Materials sectors. Nikkei 225 (-0.5%) saw its losses lead by Softbank shares tumbling over 9% following its earnings on Friday, which saw the Co’s Vision Fund post a quarterly net loss. South Korea’s KOSPI (+0.4%) remains in the green following the trilateral meeting between the US, Japan, and South Korea over the weekend, in which White House National Security Adviser Sullivan said the US, Japan, and South Korea have a coordinated response if North Korea carries out its 7th nuclear test. Hang Seng (+2.0%) and Shanghai Comp (+0.5%) trade firmer following source reports that the PBoC and China's Banking and Insurance Regulator told financial institutions to extend support for property firms, with the Hang Seng Property index surging over 15% in early trade, but traders remain cognizant of the Biden-Xi meeting poised to take place on Monday at 09:30GMT/04:30EST.

14 Nov 2022 - 02:26- Research Sheet- Source: Newsquawk