ASIA-PAC EQUITY UPDATE: Stocks mixed with Mainland China and Hong Kong buoyed

Analysis details (02:38)

APAC stocks kicked off trade with a downward bias following a weak lead from Wall Street after unwinding NY morning strength. US equity futures trade with modest gains across the board but not far off breakeven, with the ES back under 4,000 following some late selling pressure on Wall Street. ASX 200 (-0.3%) sees pressure from its Metals & Mining sector, whilst the RBA minutes provided little in terms of hints for the upcoming meeting and left all options open. Nikkei 225 (-0.1%) sees some downside after Q3 Japanese GDP unexpectedly fell into contraction, with the country’s manufacturing sector leading the losses. KOSPI (-0.4%) conforms to regional losses whilst Taiwan’s Taiex (+1.6%) outperforms as TSMC is boosted by a Berkshire Hathaway stake. Hang Seng (+1.3%) and Shanghai Comp (+0.3%) are cheering the meeting between US President Biden and Chinese President Xi, which was telegraphed as candid, whilst Chinese stocks saw little action to the Retail Sales contractions and sub-forecast IP metrics.

15 Nov 2022 - 02:37- Research Sheet- Source: Newsquawk