ASIA-PAC EQUITY WRAP: Asian stocks began the week mostly subdued amid balloon-related tensions and as markets brace for tomorrow's US CPI data

Analysis details (06:03)

Asia-Pac stocks began the week mostly subdued as geopolitical tensions lingered after the US shot down a fourth flying object and with markets bracing for Tuesday's US CPI data, while the region also digested a slew of earnings releases and news that the Japanese government is likely to nominate academic and former BoJ member Ueda to head the central bank. ASX 200 (-0.2%) was lacklustre with earnings updates in focus and the Consumer Discretionary sector was pressured as Star Entertainment shares dropped more than 20% after it flagged an impairment charge of up to AUD 1.6bln for its New South Wales business. Nikkei 225 (-0.9%) underperformed as participants pondered over the future of the BoJ with the government likely to nominate dark horse Ueda as the next central bank chief after dovish continuation candidate and BoJ’s QE policy architect Amamiya was said to turn down the role. Hang Seng (-0.4%) and Shanghai Comp. (+0.6%) were mixed with Hong Kong pressured early on by weakness in property and tech, while the mainland was kept afloat after China’s recent loans and aggregate financing data topped forecasts with New Yuan Loans at a record high for January.

13 Feb 2023 - 05:58- Fixed IncomeData- Source: Newsquawk