ASIA-PAC EQUITY WRAP: Asian stocks declined after recent sticky inflation data from the US and plethora of Fed rhetoric that ensued

Analysis details (05:44)

Asia-Pac stocks were mostly lower following the choppy performance on Wall St as markets digested the US inflation data and the plethora of Fed commentary that ensued, while participants in the region have turned their attention to the abundance of earnings releases. ASX 200 (-1.1%) was pressured by underperformance in its top-weighted financials sector following results from Australia’s largest bank CBA, which despite posting a record cash profit for H1, was still short of estimates and the Co. flagged a moderation in business loan growth, while there were also comments from RBA Governor Lowe who reiterated the view of further rate hikes to come. Nikkei 225 (-0.5%) was subdued with several of the biggest movers in Tokyo driven by recent earnings results. Hang Seng (-1.3%) and Shanghai Comp. (-0.3%) conformed to the downbeat mood with Hong Kong dragged lower by weakness in the property sector, although losses in the mainland were stemmed after the PBoC boosted funds through its Medium-term Lending Facility at an unchanged rate.

15 Feb 2023 - 05:42- Fixed IncomeResearch Sheet- Source: Newsquawk