ASIA-PAC EQUITY WRAP: Asia traded with a slight positive bias after strong US data, but with gains capped as attention turned to earnings and firm Tokyo inflation

Analysis details (05:28)

Asia-Pac stocks traded with a slight positive bias in the aftermath of the mostly strong data releases from the US, albeit with advances capped as participants also digested earnings releases including disappointing results from Intel, as well as firm Tokyo CPI data. ASX 200 (+0.3%) was marginally higher on return from the holiday closure with the index propped up by tech and financials. Nikkei 225 (Flat) lacked decisiveness following the firm Tokyo CPI data in which core inflation rose at its fastest pace since 1981 and further added to the pressure for the BoJ to rethink its ultra-easy policy. Hang Seng (+0.4%) was choppy and struggled to sustain early gains after recent data showed a wider contraction in Hong Kong’s exports and with Japan and the Netherlands set to join the US’s chip curbs on China.

27 Jan 2023 - 05:28- Research Sheet- Source: Newsquawk