ASIA-PAC EQUITY UPDATE: Asia traded mixed with sentiment subdued after recent hawkish Fed pricing, while the region also digested the RBA rate decision

Analysis details (05:59)

Asia-Pac stocks eventually traded mixed after the weak lead from global counterparts as markets continued to ramp the hawkish Fed pricing, while the region also digested the RBA rate decision. ASX 200 (-0.5%) was initially kept afloat amid strength in the energy sector after a rebound in oil prices although the index was later pressured after the RBA lifted the Cash Rate by 25bps to a fresh decade-high and signalled further rate increases ahead. Nikkei 225 (-0.1%) was indecisive after mixed data in which household spending disappointed but wages topped forecasts, while the earnings deluge also continued. Hang Seng (+0.4%) and Shanghai Comp. (-0.1%) were varied with Hong Kong led by a rebound in the tech, healthcare and property sectors following yesterday’s underperformance although the mood in the mainland was less decisive owing to the recent spy balloon frictions and with a lack of fresh drivers aside from Wuhan relaxing property buying restrictions.

07 Feb 2023 - 05:54- Fixed IncomeData- Source: Newsquawk