ASIA-PAC EQUITY WRAP: Asian stocks are mostly subdued amid a lack of positive macro drivers and following mixed data and earnings stateside

Analysis details (05:46)

Asia-Pac stocks were lacklustre in the absence of any major positive macro drivers and following the flat handover from Wall St where risk sentiment was clouded amid mixed data releases and earnings results. ASX 200 (Flat) was kept afloat amid outperformance in the mining and materials sectors although gains were limited by weakness in energy and consumer stocks, as well as uninspiring data in which Westpac Leading Index M/M printed flat. Nikkei 225 (-0.4%) declined after the latest Reuters Tankan survey for April showed Japanese manufacturers remained glum with the Large Manufacturing Index stuck in negative territory. Hang Seng (-0.5%) and Shanghai Comp. (-0.2%) were subdued with early underperformance in Hong Kong amid losses in autos, property and tech, while the mainland was also cautious ahead of US Treasury Secretary Yellen’s major speech on Thursday regarding US-China Economic ties where she will outline US economic priorities on China.

19 Apr 2023 - 05:45- Fixed IncomeEconomic Commentary- Source: Newsquawk