ASIA-PAC EQUITY UPDATE: Losses across APAC as Amazon hits sentiment after Meta’s woes

Analysis details (02:45)

Asia-Pac stocks trade with mild lower across the board following a mixed US lead after losses in tech dragged the SPX and NDX lower whilst the DJIA and RUT eked mild gains. US futures were again hit after the bell, this time as Amazon shares were initially slumped by around 20% following disappointing earnings, although Apple earnings were ultimately better-received and helped futures climb off worst levels, but the NQ remains the laggard. ASX 200(-0.5%) is pressured by its IT sector following the Meta-induced losses seen on Wall Street. Nikkei 225 (-0.5%) sees losses across manufacturing names but the index held onto a 27,000 handle ahead of the BoJ announcement, which is expected to keep policy settings unchanged. KOSPI(-0.1%) conformed to the broader risk tone, although losses were shallower than peers. Hang Seng (-0.4%) and Shanghai Comp (-0.6%) opened lower with the tech sector underperforming after the downbeat sectoral lead from the US, whilst NY Times reported that the Biden administration is weighing further controls on Chinese technology.

28 Oct 2022 - 02:43- Research Sheet- Source: Newsquawk