ASIA-PAC EQUITY WRAP: Asia traded mixed with price action mostly rangebound after US/UK holidays

Analysis details (06:03)

Asia-Pac stocks traded mixed with price action mostly rangebound following the holiday closures in the US and the UK where cash markets have yet to react to the tentative debt ceiling agreement. ASX 200 (-0.1%) was lacklustre amid losses in real estate and financials, while disappointing Building Approvals data added to the glum mood. Nikkei 225 (-0.3%) was choppy but remained above the 31,000 level after BoJ Governor Ueda reiterated a dovish message, while KOSPI (+0.9%) outperformed as it plays catch up on return from the extended weekend. Hang Seng (-0.7%) and Shanghai Comp. (-0.7%) were pressured as the Hang Seng China Enterprises Index entered bear market territory which added to the jitters from the already cautious mood heading into tomorrow’s PMI data.

30 May 2023 - 06:01- Research Sheet- Source: Newsquawk