ASIA-PAC EQUITY UPDATE: Downbeat mood across stocks with Hong Kong the laggard
Analysis details (02:03)
APAC stocks trade somewhat mixed following the selling seen during the US session, with fresh fundamental catalysts on the lighter side during the session thus far. US equity futures see modest intraday gains in what has been a horizontal session for the state-side contracts, whilst European equity futures are flat. ASX 200 (+0.2%) is the relative outperformer with its Telecoms sector driving the gains, whilst the Aussie jobs report saw more jobs lead to little reaction in the index. Nikkei 225 (-0.1%) trades with modest losses on either side of 28k, with the sectoral performance somewhat contained, whilst BoJ Governor Kuroda reiterated that it is important to continue monetary easing to support the economy. KOSPI (-0.6%) gave up earlier gains and drifted lower throughout the session with losses led by the chip and IT sectors following similar sectoral losses on Wall Street, whilst the North Korean foreign minister warns of stronger military response if US bolsters 'extended deterrence' for its allies. Hang Seng (-1.8%) and Shanghai Comp (-0.6%) opened with losses with the former seeing downside in Meituan, which fell around 6% after Tencent announced a special dividend in the form of Meituan shares, whilst People's Daily also suggested China is able to achieve COVID Zero as mainland cases roses at the fastest pace since April.
17 Nov 2022 - 02:02- Fixed IncomeEconomic Commentary- Source: Newsquawk
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